X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    Mortgage on a full paid property

    Hi.  I would like to get my full paid property on mortgage in order to get some extra cash to buy another property.  I asked my bank (Bank of East Asia) and they said they dont mortgage on the property that has been bought already.  Is this the usual practice for all the banks in UK? Is there anywhere i could get mortgage?  Thank you.

    0
    0

    standard practice to be honest - no problem, you just need to know which lenders would say yes, and we do ....

    call us anytime on 01206 654 444 or send your details to advice@ptfs.co.uk and one of the Team will contact you by return

    0
    0

    FOR INDEPENDENT MORTGAGE AND INSURANCE ADVICE

    PROPERTY TRIBES FINANCIAL SERVICES

    http://www.propertytribesfinancialservices.com

    http://www.propertytribesfinancialservic...contact-us

    CONTACT US FOR LIFE INSURANCE QUOTES AND STRATEGIES.  PORTFOLIO MORTGAGES (VARYING TERMS) COVERED

    MULTI CREDIT REFERENCE AGENCY REPORT, IN ONE DOCUMENT HERE.

    http://www.propertytribesfinancialservi...statement/

    I am sorry to hear than BeBee72. It is in fact unusual that they do not allow remortgages. Some lenders treat a remortgage (ie remo) differently with reduced requirements but as your lender is not a mainstream player I can understand why they are reluctant to do this.

    Most lenders in the UK will do this for you and you should not feel trapped into a loan that's not right for you. And of course releasing equity to buy another property is not uncommon (its called Capital Raising).

    You will need to start doing tax returns as part of this venture. I would be delighted to help you with that and your mortgage.

    0
    0

    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    Sorry to jump in on this, I have a similar question..

    I have found a buy to let property where the seller is wanting a quick cash deal. If I pay cash do I have to wait 6 months to be able to re-mortgage ?


    Kind Regards

    Chris

    0
    0

    Hi Jimmy,

    Typically you do have to wait 6 months to take out a mortgage on a cash purchase, but there are a handful of lenders who will consider undertaking term finance sooner than six months.

    The team at PT Financial Services work closely with those lenders and can assist you in re-cycling your cash as quickly as possible.  Give them a call on 01206 654444.

    *Edit - replied at same time as PTFS below. Smile

    0
    0

    JimmyCerta,

    in most cases, yes, you would have to wait for the full 6 months  in order to remortgage.  There are, however, some lenders who do not have the 6 month rule, and will allow you to Capital Raise.  The seller of the property also comes into the equation.  There may be issues if they have owned the property themselves for less than 6 months.

    If you would like some help or advice with this, we would be happy to help.  Please give us a call on 01206 654444

    0
    0

    __________________________________________________________________

    BTL's, residential mortgages, bridging, life cover and estate planning  

    http://www.hdconsultants.net        

    For Commercial Finance, complex BTL and HMO funding, development finance, international and expat mortgages, and portfolio BTL mortgage services Assured Funding website.

    Telephone: 07751042485      01206 654444