Urgent Buy to Let Help Required

jamesd

The_Eternal_Optimist wrote: »

If you are an adviser you have to declare it in your status

Advisers are not required to declare it in their signature. However, if they don't they may not identify themselves as brokers in other ways.

Big_Richy

It's a funny old world - that of mortgages - and I hold my hat off to all you advisors out there.

In my experience there's always a solution to your predicament - But finding it depends on how hard you want to try.

I'm from the southeast so the 'hotspot' on my doorstep is Ebbsfleet. In my humble opinion - with the new domestic station opening in 2009 - It's market proof... Negotiating a discount in advance would give you peace of mind and a buffer ........ Just in case! :-)

Please keep us up to date on any developments Peter..

dunstonh

At this time, based on what has been said, no mortgage adviser can tell you whether there is a lender out there or not that can do it as there is insufficient information.

It is one of the risks of forum posting that you only get snippets and often you have to work on assumptions. Then as a thread develops you get more snippets of information which can change the conversation and "suggestions" on how to proceed.

We dont know if this is a go'er or not. There just isnt enough to go on.

BTman

Big_Richy wrote: »

Finally - I'd like to reciprocate the passing of judgements by BT Man. My assumption - since you're unable to see the value or solution to this situation is that you've accidently passed through a thread habited by those that are tyring to get on in life - on your way to a thread entitled - IVA's and Bankruptcy.


Trust me Peter S - there's a solution to this and you'll come out of it making money. Send me a private message if you need more advice mate..

Hit thanks instead of quote, so have one on me..;)

"trying to get on in life"? You mean trying to get rich quick as someone (probably in the pub) told him and his mate that they have made a lot of money in property over the past decade..


Do you honestly think BTL on new build property is still viable?
Do you think it's wise to exchange without finance in place?
I think the only person heading to the IVA/Bankruptcy forum would be the OP.
Not me as I have no debt's whatsoever..:rotfl:

BTW, if you want to be taken seriously you need to learn how to spell judgments, accidentally and trying.

silvercar

BTman wrote:

Do you think it's wise to exchange without finance in place?

I thought that at first and even asked why the solicitor allowed that to happen. Then it was pointed out that mortgage offers are only valid for a few months, so what are people meant to do when buying off plan?

The_Eternal_Optimist_2

Not heard from the OP for a bit now, has he managed to get an adviser to look at this and sort it out?

BTman

silvercar wrote: »

I thought that at first and even asked why the solicitor allowed that to happen. Then it was pointed out that mortgage offers are only valid for a few months, so what are people meant to do when buying off plan?

That is a very good question, I would be interested to know the answer...

UK007BullDog

One thing I suggest you and your friend do is to get a credit record of yourselves from equifax and experian.

I think your credit record might be shot to pieces. And then no lender will touch you.

also you have not said on which floor the property is on and how many floors it has in total.

Another reason might be that the potential lenders who would lend feel too exposed on the development as a whole, see it as risky and will not lend.

mystic_trev

The OP wasn't particulary clever trying to commit fraud by getting a residential mortgage on a BTL. I realise that he's got big problems, but I'm afraid it's his on fault for having been so stupid!

silvercar

mystic_trev wrote: »

The OP wasn't particulary clever trying to commit fraud by getting a residential mortgage on a BTL. I realise that he's got big problems, but I'm afraid it's his on fault for having been so stupid!

I thought this was one of the developer's broker's attempts. I would have thought that, if you call in a professional for advice, it is reasonable to rely on their expertise. Especially when in a panic that things are going haywire.