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  • Buy-to-Let

    BTL strategy question

    If anyone has any opinion on a strategy it would be much appreciated.

    I've been back in the UK for nearly three years now after 15 years abroad. I've had one BTL which my wife and I had for 10 years without any real issues, which we sold before we returned.

    I want 4 small BTL properties, valued at around £100k each. We own our own home (£350k rough value) without a mortgage and I've got around £80k in cash to start the project. My wife works full time and I'm self employed. We also have other savings, but these are tied up. We are both in our early 40's without kids. I'm quite handy as I've done two houses up and have time and equipment for renovations.

    Any thoughts on where I should start appreciated. We live semi rural in North Notts, where there are plenty of cheaper properties available.

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    Hi James,

    An unencumbered property is a great asset!  You can bridge against it, essentially making you a cash buyer and accessing all the advantages of that.

    I would recommend that you buy a property in need of refurbishment at a discount with a bridging loan, add value via refurbing or developing, then take out a BTL mortgage to 75% of the new valuation so that you can re-cycle your cash and move onto the next project.

    There are some lenders who offer a bridge, and then move onto a term mortgage as one package, reducing costs and making it a more seamless transaction.

    The team at Property Tribes Financial Services on 01206 654444 will be able to assist you in setting up the finance you need.

    See - The power of owning a property with no mortgage on it 

    Hope that helps for starters and good luck! Smile

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    Thanks for taking the time to reply. Thats very helpful.

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    Good morning

    Being a home owner and having a 3 year UK address history will be hugely beneficial for you and I am confident there will be many lenders that would be interested in providing finance to you.

    I would also suggest you consider speaking to a tax specialist before any purchase so they can confirm whether it is best for you to purchase in your individual names or via a SPV Limited Company.

    I would also suggest speaking to a BTL broker so feel free to contact me anytime

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    You can contact me on 07919 564177 or call the team on 01206 654444 for personalised quote and advice or via the website at http://www.hdconsultants.net


    Thanks for the reply. I'll have a look at the website and formulate my plans.

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