No questions finance

stebiz

I have a number of properties, with no loans, and would like to take the opportunity of the downturn to buy a few more. Are there any companies out there (or individuals) who'll lend at a rate of 6% or below on either an interest only (preferably) or interest and repayment basis - over 10 years.

I don't want all kinds of employer checks, credit checks, business plans etc. Just straight cash for very good security.

Any ideas?

Thrugelmir

There's no market traders in the lending market. Only proper businesses. All regulated these days.

stebiz

It's a shame as private mortgages is how I kicked this portfolio off many years back. Any ideas who want limited info to raise. Non status really.

holly_hobby

Non-staus - ie no status checks other than identity verification was withdrawn well over several yrs ago (Bank Of Scotland max ltv 65%) - followed recently by self cert (where its only income that isn't verified).

Anyhoo, back to today, you are looking more for an VCT/investment bank arrangement, from memory I think Conrad has some experience within this sector.

Hope this helps

Holly

stebiz

holly_hobby wrote: »

Non-staus - ie no status checks other than identity verification was withdrawn well over several yrs ago (Bank Of Scotland max ltv 65%) - followed recently by self cert (where its only income that isn't verified).

Anyhoo, back to today, you are looking more for an VCT/investment bank arrangement, from memory I think Conrad has some experience within this sector.

Hope this helps

Holly

Thanks Holly. I don't mind the ID checks. I don't mind paying for a valuation. It's all the other form filling and jumping through hoops I don't want to do. Is Conrad on here?

vectistim

I'm not sure off-hand what the Mortgage Works' attitude is to new customers, but they don't ask for proof of income for new purchases for existing BTL mortgage customers.
I think one of more of the Lloyds brands has recently adjusted its criteria to remove a minimum income requirement.

holly_hobby

Yes, he posts here, but I can't promise he'll be able to help re off piste funding - as you're not suitable for mainstream regulated lending.


Holly

Simon_gloster

Stebiz, great posts, little effort needed from you, and me, try Blemain.

1oldcodger

what ever you do do not try Blemain! you will lose everything they are a rogue company it is all over the internet and on many forums. I hope this message dos'nt come to late. I know i have been done by them

ACG

stebiz wrote: »

I have a number of properties, with no loans, and would like to take the opportunity of the downturn to buy a few more. Are there any companies out there (or individuals) who'll lend at a rate of 6% or below on either an interest only (preferably) or interest and repayment basis - over 10 years.

I don't want all kinds of employer checks, credit checks, business plans etc. Just straight cash for very good security.

Any ideas?

There are lenders who will just want 3 months bank statements or an accountants reference to confirm you can afford it - they will not credit check.

But rates will are nowhere near 6% - more like 11-12%. They can be on interest only or repayment and there will be set up fees also - in the region of 1-2% of the mortgage amount.

Wh05apk

This post is 8 months old now, I would assume OP has given up or found someone.