Help - Mortgage advice urgently needed

amywhite12

I would like some advice on the best mortgage to get. I am looking to buy a property to do up and sell on quickly.
I have £20,000 deposit. Need high loan to value. No early repayment fees (as I aim to turn the property round in approx 8months).
I have not found a property yet as I would like to know how much I can borrow and the best mortgage out there for me.
Please help!:)

Thrugelmir

Why bother owning a property for 8 months? Allowing for costs you are bound to lose money. Also can take a considerable time to find a buyer and complete a sale.

mij544

Hi,
in order to find the best deal for you, we would need lots of information, ie, age, salary, type of employment, property value, joint or single application, income and outgoings, you get the idea.

You would do well to talk to an independent adviser, especially as if your property plans work out you may want to do it again.

Avoid the high street at all costs, all you will get is stitched up.

Good luck.

[Deleted User]

amywhite12 wrote: »

I would like some advice on the best mortgage to get. I am looking to buy a property to do up and sell on quickly.
I have £20,000 deposit. Need high loan to value. No early repayment fees (as I aim to turn the property round in approx 8months).
I have not found a property yet as I would like to know how much I can borrow and the best mortgage out there for me.
Please help!:)

HSBC have some offers on this month - no application fee, no valuation fee, in fact no fees at all ... If you can find the right property in the right location and at the right price, no reason why you shouldn't turn a profit within a year, although as has been mentioned might be easier to find a buyer in theory than reaity. I would suggest that when you see a property you like, check the sold house prices for that road - www.nethouseprices.com might be a good starting point.