Now no bank will lend me money

unite79

Thank you for that but..

Mortgage Advisers who choose not to use the signature should not indicate they are brokers in any other way within their posts

Conrad

You say you live in Italy. Some lenders wont like that at all, as it could mean your credit score is impossible to determine and even where you get through the initial application a Human underwriter may then decline as they feel you are too far removed from the investments.

Find a very experienced broker for this one - I dont think the likes of L & C will be suitable.

opinions4u

What makes you think British property values are going to appreciate, and when do you think it will happen?

_Andy_

unite79 wrote: »

Thank you for that but..

Mortgage Advisers who choose not to use the signature should not indicate they are brokers in any other way within their posts

Not sure if you're referring to me there but just to clarify, I'm not a broker.

tinkerbell84

unite79 wrote:

Mortgage Advisers who choose not to use the signature should not indicate they are brokers in any other way within their posts

unite79 wrote: »

Yough but by no means impossible, I can think of 5 lenders that would do this, no problem.

I got that you were from this line in your post.

Might be worth using the signature

dbcooper_2

A 10% increase in price for a 200k house means 20k profit. 10% for a 100k gives only 10k profit. That's why I'm selling one to buy another.

I could use some of my savings, but I want to buy a property with my girlfriend here in Italy so have only maybe 30k from savings to spend on the UK property. I don't understand how I could raise money from my existing property herbiesjp could you explain further please.

My credit rating will be low as I bought my current house with cash and have only ever borrowed money on a new PC offer.

dbcooper_2

I think property prices in the UK will rise because of the large demand. Interest rates look set to drop making houses more affordable. I don't think house prices will pick up for at least 1 year. It could be 2 years though. I plan to sell my current house ASAP and put the money in a 1 year fixed rate account. (it will pay more than the rental income generates)

tinkerbell84

I think you need to read a bit more on this forum. Interest rates are dropping but banks aren't passing the drops on. Property is not shifting - there is no demand.

herbiesjp

IF you have a property in the UK that yu let out - then you can get a BTL mortgage to release some of the equity from that property i.e 50%

You can then get a 50% BTL mortgage on the new purchase

This is assuming you are letting both out.

minimike2

This is a wind-up surely?