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Found amazing investment...How do i finance it??!
Nickodemus_2
Posts: 2 Newbie
Hi All.
This is my first post to please excuse any numpty questions....
Basically i've found a property investment opportunity which is an absolute cracker, but i'm not sure what all my options are to finance the beast!
It's a property that needs a lot of internal development to make it into a great BTL investment, but the amount of money that i'd need to buy the place is quite a lot (into the millions).
I'd be buying the place from my Ltd company, but last time i spoke to a mortgage advisor (friday last week), he told me there were only a couple of lenders that were lending to Ltd companies for a BTL mortgage. THe next prob is that the property/properties in question would probably come under the umbrella of an HMO, and the motgage advisor reckoned there aren't ANY LENDERS WHATSOEVER who are lending to a Ltd for a BTL mortgage on an HMO property!!
RUBBISH!
So, just wondering if there are any options out there? I have some capital to pay with, but not quite enough to make to 75% LTV which seems to be the max that some BTL mortgages are going to these days.
Would really appreciate any suggestions as i'm running out of time (end of sept deadline for offers).
Cheers.
This is my first post to please excuse any numpty questions....
Basically i've found a property investment opportunity which is an absolute cracker, but i'm not sure what all my options are to finance the beast!
It's a property that needs a lot of internal development to make it into a great BTL investment, but the amount of money that i'd need to buy the place is quite a lot (into the millions).
I'd be buying the place from my Ltd company, but last time i spoke to a mortgage advisor (friday last week), he told me there were only a couple of lenders that were lending to Ltd companies for a BTL mortgage. THe next prob is that the property/properties in question would probably come under the umbrella of an HMO, and the motgage advisor reckoned there aren't ANY LENDERS WHATSOEVER who are lending to a Ltd for a BTL mortgage on an HMO property!!
RUBBISH!
So, just wondering if there are any options out there? I have some capital to pay with, but not quite enough to make to 75% LTV which seems to be the max that some BTL mortgages are going to these days.
Would really appreciate any suggestions as i'm running out of time (end of sept deadline for offers).
Cheers.
0
Comments
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If you currently have a company that has a good trading history, your own bank would be the best bet. If they will not lend to you the chances are nobody else will.
Another option may be to remortgage your home.0
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