In fact, I know of instances where finance was pulled by the banks on the day of completion, leaving the property investor unable to complete the purchase, and in some cases the developer then sued the buyer and made them bankrupt!
Now, I’m not saying this to scare you, there were very particular reasons why the banks did this.
But the lesson is we need to be prepared just in case.
It never hurts to have a back up plan and access to emergency cash.
If you’d like me to put you in touch with my very good mortgage broker to discuss any aspect of buy to let lending and mortgages, please email me:
peter@ThePropertyTeacher.co.uk
Here’s to Successful Property Investing.
Peter
Peter Jones
(ex) Chartered Surveyor, author and property investor
https://thepropertyteacher.co.uk
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to:
https://thepropertyteacher.co.uk/the-successful-property-investors-strategy-workshop
