Finance & Investment Questions

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Sticky: Mortgage News by loanarranger Started by loanarranger, 23-12-2015, 19:43 PM	410 responses 25,049 views 0 likes	Last Post by loanarranger 09-07-2020, 04:16 AM
Has anyone purchased a property from an Auction House here before? by combo75 Started by combo75, 15-07-2020, 14:18 PM	4 responses 31 views 0 likes	Last Post by tatemono 15-07-2020, 16:25 PM
Predicting the GDV for a HMO using an investment model valuation for lending purposes by GaryE Started by GaryE, 12-07-2020, 10:44 AM	4 responses 56 views 0 likes	Last Post by loanarranger 13-07-2020, 20:05 PM
Remortgaging Advice by pjnpropertyltd Started by pjnpropertyltd, 11-07-2020, 17:50 PM	8 responses 99 views 0 likes	Last Post by loanarranger 13-07-2020, 12:40 PM
The Labour Party wants Landlords excluded from the Stamp Duty incentive by loanarranger Started by loanarranger, 10-07-2020, 16:35 PM	5 responses 127 views 0 likes	Last Post by Gordon999 11-07-2020, 16:53 PM
BTL - LTD Company Money by VPatel2707 Started by VPatel2707, 07-07-2020, 06:57 AM	5 responses 126 views 0 likes	Last Post by Gordon999 09-07-2020, 19:14 PM
My unexpected tale of selling my BTL by feederking Started by feederking, 03-07-2020, 22:03 PM	23 responses 510 views 0 likes	Last Post by boletus 08-07-2020, 11:11 AM
Financial advice by NFS20 Started by NFS20, 14-06-2020, 04:39 AM	10 responses 194 views 0 likes	Last Post by Always Problems 04-07-2020, 13:58 PM
Renovation Loan for a Right To Manage Company by AlleyRTM Started by AlleyRTM, 30-06-2020, 04:39 AM	3 responses 47 views 0 likes	Last Post by Gordon999 03-07-2020, 21:41 PM
SDLT and purchase reservation fees by ritfor Started by ritfor, 20-06-2020, 12:03 PM	12 responses 126 views 0 likes	Last Post by BTL investor 02-07-2020, 11:41 AM
New build student apartments by dan223 Started by dan223, 27-06-2020, 17:10 PM	9 responses 111 views 0 likes	Last Post by AndrewDod 28-06-2020, 13:15 PM

Has anyone purchased a property from an Auction House here before?

by combo75

Hi,

Has anyone purchased a property at Auction here before?

I would like to buy something that needs a bit of TLC and it looks like the only place I can go to is an Auction.

But I find the process daunting and scary.

For example most of the ones...
- Channel: Finance & Investment Questions
15-07-2020, 14:18 PM
Reply to Has anyone purchased a property from an Auction House here before?

by tatemono

We bought one of ours at auction. However, it was the "modern method of auction" or conditional auction whereby there's a very large minium fee payable to the auctioneer, around 6K IIRC. We got the property for 34K so it was a sizeable percentage but even added to what we paid, we still came...
- Channel: Finance & Investment Questions
15-07-2020, 16:25 PM
Reply to Has anyone purchased a property from an Auction House here before?

by Kape65

I've tried many times to purchase at auction but was never successful. I had no problems doing the relevant checks prior to the auction. In many cases the auctioneers had all the relevant info, office copies, mining reports etc all viewable in advance.
- Channel: Finance & Investment Questions
15-07-2020, 16:00 PM
Reply to Has anyone purchased a property from an Auction House here before?

by Lawcruncher

There are various reasons why people sell at auction, most of them nothing to worry about. However, a good reason for selling at auction is that there is something dodgy about the property which will be covered by a special condition the significance of which a punter who does not take legal advice...
- Channel: Finance & Investment Questions
15-07-2020, 14:34 PM
Reply to Has anyone purchased a property from an Auction House here before?

by doobrey

I have done it once. I think the above list is over-dramatising it a bit.

You do need to get the property checked out ahead of time (at least, unless you are very confident in doing it yourself). I had the building and the legals looked over by a surveyor and a solicitor respectively....
- Channel: Finance & Investment Questions
15-07-2020, 14:31 PM
Predicting the GDV for a HMO using an investment model valuation for lending purposes

by GaryE

Hi. I am about to embark on the conversion of a house into a 6 room HMO. I have experience of this with 2 previous projects. Is there a way that I can accurately predict what the end value might be using an investment model approach to the valuation? I will be using a lender that uses this method for...
- Channel: Finance & Investment Questions
12-07-2020, 10:44 AM
Reply to Predicting the GDV for a HMO using an investment model valuation for lending purposes

by loanarranger

The two postings from Gordon999 should be heeded, they represent with clarity the approach adopted by lenders on an investment valuation basis. Currently there are perhaps no more than five lenders who value on an investment basis and if the property is to undergo major refurbishment this will reduce...
- Channel: Finance & Investment Questions
13-07-2020, 20:05 PM
Reply to Predicting the GDV for a HMO using an investment model valuation for lending purposes

by Gordon999

Property valuation depends on the location and supply and demand for HMOs. You should be asking the local surveyors where your property is located to give a valuation based on monthly gross rental income of £4200. If you took £600K as the top end value for your location and if 80% Mortgage...
- Channel: Finance & Investment Questions
13-07-2020, 13:41 PM
Reply to Predicting the GDV for a HMO using an investment model valuation for lending purposes

by GaryE

Thanks for this. Does anyone know the formula that a surveyor will apply if using an investment model valuation? Surely it must be in the public domain somewhere?

I would be happy to pay for a service whereby a surveyor can give an indicative end value during the very early stages of planning...
- Channel: Finance & Investment Questions
13-07-2020, 13:18 PM
Remortgaging Advice

by pjnpropertyltd

Hi everyone,

I run a small limited company that wholly owns a rental property with no mortgage.

We are looking to expand our portfolio and would like to do this by remortgaging our existing property. This property was inherited and has no outstanding mortgage.

...
- Channel: Finance & Investment Questions
11-07-2020, 17:50 PM

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