No Money Down deals

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  • lettingking
    started a topic No Money Down deals

    No Money Down deals

    Hi,

    I bought my first property last year which has so far worked out very well. I am looking again now for a second property. I regularly read about people who have bought property with no money down, and property courses that tell you how to do it. Is this actually the case? Can it be done if so how? and has anybody done this before? I would be grateful for some info. Thanks, Chris

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  • Reply to accelerated possession section 8
    by jpkeates
    That's not the same thing, though.

    A section 21 notice accelerated possession claim is one that can proceed without a hearing (although that doesn't always happen). It is a specific process that you elect to follow (or not).

    A section 8 notice will always have a hearing, because...
    18-01-2022, 17:36 PM
  • accelerated possession section 8
    by imranpal
    Is it possible to exercise accelerated possession using section 8 ?

    My solicitor is advising to go with accelerated possession to evict the tenant and once we have court order we can file another court case to collect the rent arrears .

    i was in impression that accelerated...
    18-01-2022, 12:45 PM
  • Reply to Tenancy inspection - more than one inspector?
    by jpucng62
    As a LL who uses a letting agent, I like to look around my properties occasionally in order to ascertain whether I need to be doing anything - I find my views and the agent's often differ! There is no reason to be particularly alarmed by this - I would see it as an opportunity to raise any issues with...
    18-01-2022, 17:04 PM
  • Reply to Property Guardianship services - any experiences?
    by JamesHopeful
    Thank you both. I have now read up about it.

    As far as I can see, there are a number of risks to both the resident guardian and the guardianship company. The former (ostensibly) has very few rights and may end up living in a substandard or even dangerous property; the latter risks getting...
    18-01-2022, 16:46 PM
  • Reply to Tenancy inspection - more than one inspector?
    by mokka
    Won’t care if buying property as I did ...
    18-01-2022, 16:24 PM
  • Reply to accelerated possession section 8
    by imranpal
    as per this blog it is possible If the tenant falls behind with rent, the landlord can repossess the property and cut their losses. After you miss to pay 2 months of rent, the landlord is eligible to use an accelerated possession procedure. If proven the court will grant the order immediately.
    ...
    18-01-2022, 15:30 PM
  • Reply to accelerated possession section 8
    by jpkeates
    There is no accelerated possession with section 8.

    I think your solicitor is suggesting using section 21 to obtain possession and then making a separate claim for the money the tenant (presumably) owes.

    That would be the advice of many people here, provided that you can serve...
    18-01-2022, 13:13 PM
  • Reply to Tenancy inspection - more than one inspector?
    by ash72
    It may be that the LL is making sure the LA is doing their job with their property, rather than checking up on you. Is there any reason you don't want both of them looking at the same time, I would have thought it was more efficient then each come separately.

    You just need to ensure you...
    18-01-2022, 11:04 AM
  • Reply to Rent increase or being served notice
    by ash72
    Just bear in mind, when you are served notice, and don't leave, the LL/ LA will then move towards the courts, once this happens all the costs will then be on the T.

    Your best solution is to communicate with the LL/LA as well as search for alternative accommodation, you will have up to 2...
    18-01-2022, 10:58 AM
  • Reply to Rent increase or being served notice
    by Goodeys
    Many thanks all for your reply. Yeah there is nothing on the market at all really, nightmare.

    I assume they wish to serve me with a S21 immediately as they gave me 7 days to respond which would tie in with S21 being served two months before my tenancy even ends.

    I’ve been...
    18-01-2022, 10:23 AM
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