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I can probably get you under 6% if 65% residential for 200 to 250 K at 60%ltv. 75% from 6.85%. If the EPC’s are worse than C add 0.25% to the rate 2% lender fee

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Yes. Lenders ideally like to see commercial investors having at least two years buy to let experience and ideally with two properties. However, depending on the lender, we can often get away with less experience. Especially if the applicant is a more worldly wise business owner with a strong asset background. There are commercial investment lenders which don’t require this level of experience but the LTV will be lower at circa 65% and the rate is higher. For people buying commercial property for their own business to operate from, these requirements don’t apply

@@abdul-t6h9l if the profit is £200 rather than £200k I would think it very unlikely. There are various things which could be added back within the accounts, and without seeing accounts, I can’t guess what they might be If you are buying property, you’ll also need circa 25% to 30% deposit Ultimately, lenders will expect you to demonstrate how you intend to afford the payments on the loan They will also expect you to have skin in the game by way of a significant deposit For a loan that size, you will need to demonstrate that you have sufficient experience relating to the proposed purpose of the loan If there isn’t sufficient cash flow to meet monthly repayments, don’t forget about bridging finance. The repayments can be incorporated within the loan. However, the lender would expect there to be security at circa 65% loan to value Sorry I can’t be specific but I haven’t got a lot of information to go on

I don't see why not if it is a trading business - rather than property investment Go to Promise money.co.uk. There is a tab on the unsecured loan section where you can apply and some qualifying questions

cant answer that - too many variables. basically you need your own cash if you are borrowing 100% of the purchase price

@@joebyrne6129 yes it is possible. Give it a try

it is part of the purchase price so probably not an expense unless you are trading property. Suggest you ask an accountant who understands your business for tax advice. We cant advise on this

@@PhungTran1 yes. Apply via the website and you will be contacted by someone who will help to put your application together

@@lifechange108 these loans are aimed at businesses owned by people with UK resident status So it may not be possible. Sorry.

Lenders requirements vary put a bank account is the best way. Also consider paying utility bills in your name on uk property and remaining on the voters roll. If you have a property in the uk which is let out, you can read mortgage it to raise capital. The fact that there isn't a mortgage on it isn't helpful as that would also give you a credit footprint. Typically we would gather all of the relevant information and then go to the whole market to see who is prepared to lend. It would may well be a specialist lender rather than a high street lender

To add. I get offered lots of off market development opportunities, most with planning granted, have the team and the know how including architects, engineers, building Inspectors and good relationships with local agents. With good finance I suspect we could do really well.

You’re welcome 😊

No The main qualifying criteria is on the website www.promisemoney.co.uk/start-up-loan/

Depends on first or second charge. Purchase or remortgage. Residential property or commercial. Budget £1500 to 2500

@@PromiseMoney1 thank you.. It’s for a second charge bridging loan using 2 residential properties as security, to raise just 100k

@@rahulkukar3929 as there are two properties involved, that’s extra costs. However, on second charge is the solicitors fees tend to be lower. There are some blenders which are very good at doing second charge bridging. There are others which are not so good. It also depends on whether the residential properties you refer to our owner occupied or rented out. There is still lots of variables This is definitely not a DIY project. Your broker should sort this out for you and giving you the answers.

yes probably. go to www.promisemoney.co.uk/start-up-loan/ and apply

if that is a business you are starting then yes. If it is to renovate your own car, No

Glad it was helpful!

I've just counted the lenders on our panel and there are a total of 52. You need a broker. Or contact all lenders yourself to make sure you're getting the best deal for you. Keep watching the videos. They might help

@@PromiseMoney1 can I have name of say 2 or 3 commercial lenders, if possible

Lloyds, barclays, hsbc, natwest, together money, interbay. Have you watched the videos on investment property and owner occupied property? Do yourself a favour. Talk to a broker. Any broker-not necessarily Promise Money

not sure but i can deco get you a loan of 35p

This is a tricky one. Lenders tend to look at worst case scenario I'm rely on the value of the house if it were empty. However, they also taken to consideration the comments and figures provided by the valuer. It really depends on what's been done to the property to set it apart from being a straightforward House. We have one at the moment, which is an HMO, where the valuer has put 0 value on it. He has stated it is an area where there is no demand for HMO's and the property is not capable of being sold as a straightforward house as the main living rooms have been converted to self-contained bedrooms with ensuite. I think you really need to be clear about what work has been done to your property and how easily it can be converted back to a house. Share this information with your broker There are many buy to let lenders which consider hmo's and service to accommodation. But once the property is considered by the value are to be too commercial, they lose interest. With regards to the Investment value here is an extract from one lenders criteria. It is fairly vague but it gives you an idea of how they are thinking. Most lenders don't publish this degree of detail so don't rely on being able to remortgage at investment value until you have made further enquiries and taken into consideration location, demand, capability of the property to be converted back to a house, etc Extract from a lender criteria House in multiple occupation (HMO) A property is a HMO if at least three tenants live there, forming more than one household, and sharing toilet, bathroom or kitchen facilities. The applicant must have a minimum two years’ lettings experience as a landlord, and the application must be made through our portfolio application process, even if the customer is classified as non-portfolio under PRA regulation. The following minimum HMO values will apply: - Up to 10 rooms, the property value must be greater than or equal to £100,000 Up to 20 rooms, the property value must be greater than or equal to £150,000 At our discretion, and where considered appropriate, an investment valuation may be obtained. Where the property has been purchased in the last 12 months and there has been an uplift in value, it will be subject to a maximum 70% LTV. Where the property has been purchased in the last 12 months, but the property value and lending requirements equate to a like for like transaction, we may consider lending more than 70%, subject to product criteria. Where the property was acquired more than 12 months ago and there has been a significant recent uplift in valuation, we may still limit the advance to a maximum 70% LTV. Investment valuations As a guide only, an investment valuation may be adopted where the property is no longer capable of being assessed as a single residential dwelling either due to the overall level of occupancy or its subdivision into separate units. For multi-unit properties (purpose built or converted) an investment valuation will be undertaken. For HMO’s, an occupancy level of five or more tenants will normally require an investment valuation

Sure. Send it to sales@promisemoney.co.uk

If you’ve been trading for less than two years, but the company has been set up for longer, try the start-up loan

If the loan has 12 months interest built into it, but you exit before the end of month seven, the general principle is that the remaining three months are deducted from the settlement figure. I.e. you don’t pay them

If you are looking to buy a commercial property for investment purposes, you will struggle to get 75% loan to value, unless you have previous investment experience. If you’re looking more towards semicommercial property, where there is a strong residential element, make it more than 50% of the total, it might be easier. Of course, if you want to buy commercial property, which your business will trade from, investment experience is less important, and they will focus more on the strength of the business and trading accounts Hope this helps

all lenders are required to focus on the applicant to some degree to meet their money laundering requirements. The days of simply relying on the asset and repossessing if their is a problem largely ended after the 2008 credit crunch apart from bridging loans. But bridging loans need to have a decent exit as the term is generally 2 years maximum. Of course there are lenders which are more relaxed than others but teh rates may be higher. That then puts pressure on serviceability and the amount loan available. Lots of options but perhaps not as you suggest

Thanks for your comment and for suggesting bridging loans as well. can I contact you for further discussions at a rate?@@PromiseMoney1

Thanks so much -please keep sharing

The rules have been revised a little since I did the video. Therefore it’s best to check on the government website. I believe you need an EPC if you let it again. Not if you intend to live in it.

Potentially that’s possible The lender will check your business plan so that should not happen

The seller gets the agreed purchase price which is obviously lower as he has not done the work or incurred the costs of increasing the value The purchaser has done this at his own risk so should benefit from the upside

I’m not sure why you would want that. Commercial mortgages work differently and there are many options on how to structure them I suggest give us a call on 01902 585052 and discuss the scenario. If I am on the phone ask for Helen

Yes, they are available for limited companies. It would alter your chances of getting a buy to let mortgage other than taking a secured. I will have used up more equity in the property. It’s always best to look at both options at the same time and see which works best