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Alternative Ways to Finance Property: Peer-to-Peer Lending, Crowd Funding And Crowd Investing

27 Aug

man pile of money

Getting a mortgage is hard work.

Ever since the property market went *pop* most major banks have made getting mortgages harder than ever.  Chuck into that some extra regulatory hoops to wriggle over and you’ll soon find yourself wondering if you ever really wanted to buy a property.

Anyway, it would appear the Kickstarter effect has winged it’s haloed glow over to property investment. (more…)

How To Buy To Let Property On A Realistic Budget: Costings, Cash flow, ROI and Cash Margin

14 Aug

Property investment is a capital hungry business – the purchase of a property is just the beginning of a long line of costs.

You need more than you think.  (Rule: 52)

Estate agents, glossy brochures and TV programmes deal in the “headlines” of buy to let; the sort of sums which make you think property is a short-cut to becoming an over-night millionaire.

Property can make you money – but it’s also going to cost you money.  And there’s a lot of hidden expenses involved.  These are the boring details that many don’t like to deal with – talking about solicitors fees and stamp duty takes some of the sexy sheen away from which kitchen worktop to opt for.

But the devil is in the detail. (more…)

There Is NO Such Thing As An Easy Buy To Let: It’s Now A SuperScrimpers Challenge!

17 Jun

When I pondered: Is there any such thing as an “easy” buy to letI did know it wasn’t going to be so “easy”.  However, what I hadn’t planned for was quite how early it would become not easy!

So what’s the story?

Well, as I plan to own this property for quite some time, I decided that I would purchase the property with a buy to let mortgage.  Now, I know a lot of people think you can’t buy a property at auction with a mortgage – but if you’re organised you can turn it around in time.  I have no idea why the media are reporting 10 week waits for valuations when mine was done in just a couple of days.

So happily the paperwork’s in, the valuation has been done and I sit here now with a mortgage offer in my hands.  That took like a few days – maybe 2 weeks tops from application to offer.

But you know there’s a sting in the tale…

easy buy to let (more…)

Tracker Mortgages Are A Ticking Time Bomb: It’s West Brom Now – But Will YOU Be Next?

9 Oct

west brom tracker mortgage

West Brom Building Society state: “Tracker mortgages give you the certainty of knowing that the rate you pay will move in line with Bank Base Rates. We offer a choice of variable trackers, including flexible mortgages”

Unless, of course, West Brom change their minds and decide they’re not making enough money.  In that case, and to ensure their staff still benefit from over-inflated salaries, gold-plated pensions and colossal bumper bonuses they will find a tiny get-out clause which they’ve tucked away for such times as for when they want to screw consumers.  Then West Brom will increase the rate you pay regardless of what Bank Base Rates are doing.  This month, they’ve decided to fund, what I can only imagine must be their Christmas party, by increasing the tracker rate by 2% in December. (more…)

WTF Do West Bromwich Building Society Think They Are Doing?

26 Sep

It is not my fault the property market collapsed.

It is not my fault market conditions have changed.

It is not my fault West Bromwich Building Society cannot run their business prudently, efficiently and competitively.

So why West Bromwich Building Society, do you think you can pin the blame on me and the other 6,000-odd buy to let borrowers who took out a mortgage with you?

Why do you think you can now change the rules? (more…)