One of the questions I’m often asked is, “Peter, when you buy a property, what yield are you after?” Sounds like a good question, doesn’t it? Maybe even a sensible question. But I realised when I’d answered it for the 100th time that that’s not actually how I look at a property. Or how I…
Ah, the old dilemma, and a question I’ve been asked a lot recently.. As is so often the case in property, there is no right or wrong answer, but here are my thoughts on this. Number 1/. Given the choice between using my money or someone else’s (in this case the bank’s), I’d use someone…
Sadly, all too common. This is a subject I feel very strongly about because, in my opinion, a down valuation is just as negligent as an over valuation, but it appears I’m on my own on that one. It’s true that valuation is an opinion, and so rather than being a defined single figure, it’s…
How many different buy to let mortgages are there on the market today? Well, it’s anybody’s guess but the most recent figure I came across was around 2,000 different BTL mortgages, and they are being offered by up to (an estimated) 100 different lenders. All of those products, and all of those lenders, will have…
If you are buying properties to refurb, and I think you should be so you can add value, most buy to let lenders want the property to be lettable from day 1. So getting finance can be tricky, if not impossible, for the types of properties we want to buy. Here’s the solution. This product gets around that by…
So often when an investor tells me that they are struggling to raise finance, it turns out they are using the wrong broker. Either the wrong type of broker – like they are trying to raise HMO finance through a buy to let specialist. Or just the WRONG broker. In other words, a broker who just isn’t…
What is the ‘Six Month Rule’, and why do we have it? Put simply, the ‘Six Month Rule’ says that if you buy a property you can’t finance or refinance within six months of purchase. Or, if you finance or refinance a property, you can’t then refinance within 6 months of financing or refinancing. So,…
In this post and video I answer the second part of Sam’s question and whether they should pull equity out of his wife’s property, refinancing the Fixed-Rate Capital Repayment Mortgage. In my opinion the key question is, is it worth keeping a little extra cash-flow, or drawing out equity to buy more (buy to let)…
Property Strategies (Part 5) This week we are going crank it up a notch and take a look at how to be more creative in our investing. For example, using “options”, delayed completion and other innovative ways of structuring deals. Now, whilst some people ONLY follow creative strategies such as options, I prefer…
Seven Steps to Financial Freedom Through Buy to Let Please CLICK HERE to download your FREE copy now, no email required. Would you like a few buy to let properties to supplement your current income? Would you perhaps like a few buy to let properties to supplement your pension? Or perhaps you would like to…