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The UK's independent property information site
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| Property Development Discussions about renovation, modernisation, and otherwise developing a property for sale. |
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22-02-2009, 11:14 PM
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Business plan etc.
I have posted on here before so sorry for reposting the same sort of thing as before. i’m desperate to get into property developing more and hungry for more as i recently brought a 2 bed flat to renovate I have owned it for 3 weeks and it is almost half way. im I paying £90,000 mortgage on it. In 2007 good flat on the same development were going for were going for 148,000. I really want to think about getting another to work on within the next few months and im wondering about the best way to make a business plan for the bank or even if the bank will lend me anymore money? Obviously the bank could come round and take a second look? I have no experience with second mortgages etc. Also I’m a decorator by trade.
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05-03-2009, 06:54 PM
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Developemtn mortgages are hard ot get right now, but you shouldn't have too much problem getting a mortgage based on current valuation - eg before it is developed. Mortgages are currently available up to 75% LTV ... my suggestion is to find a good mortgage broker who specilises in BTL mortgages.
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05-03-2009, 09:04 PM
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Here is my cheeky reply...
 You could go to the site in my sig (or my nick) and go onto the property page. From there is a link to calculate mortgage payments and to send a message to a Whole of Market financial advisor. Moderator, if this is not allowed in the context of this thread, my apologies. I am just trying to help. 
__________________
Community spirited? http://www.AshfieldFOCUS.com
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