Singing Pig

Wed night property chat is open to anyone.

Hi Fiona - stupid question but have you thought about doing mortgages in someone elses name....? Until you get right to reside or find a lender who doesn't care so much - you might be able to get higher rate mortgages, possibly blag it thru..i didn't say that!

regards Andrew Peers. maybe give me a call.

07734 050782 , 02088665617

Fiona
Another stupid question Do you trust anyone that
much to put a house in someone elses name and on the other hand does anyone
trust you enough to have your house in their name. If deal goes well they shove
off with your house. If deal goes sour you shove off and leave someone else with
the debt eitherway sonmeone cad get badly hurt
John

--- Outgoing mail is certified Virus
Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.384 /
Virus Database: 216 - Release Date: 21/08/2002

---

When someone is kicking your butt at least you know you are in front

Hi, I have a couple of lenders that I have multiple mortgages with. I will just carry on using them for the next year until it goes thru. It just means limited products, and that I can't do NMD deals....but part of my job is figuring out how to make it all work. After I get the stamp, I will remortgage to more mainstream lenders, and better rates! Fiona

Hi Fiona40,

I am currently on a 5 year work permit (come from South Africa), still got another 4-5 yrs to go before I can even apply for a british passport. How did you go about financing your bmv deals? The only way I can think of is to do jv's (joint ventures) by using someone elses name to obtain the mortage and then split the profit. Only problem I have with this is I also wish to keep a few and build a portfolio here in the UK.

With Mortage Express they will not give me a same day remortgage as I have not been in the country for at least 3 yrs, but I can get a straight mortage where I would typically have to fork out a 15% deposit, which kinda defeats the point of no money down deal!

I was thinking of maybe building up a pot of cash through jv's doing BTS's...and then slowly use that cash for deposits on BTL's (even rent backs), and then remortaging that deposit out of the property a few months down the line and put that back into my pot.  Any ideas? Bottom line is I need to get creative. Also, you mention the issue is not just getting a mortgage, its getting multiple mortages...I plan to build a portfolio quickly!

 Cheers

Dale

Hi Fiona40,

I am currently on a 5 year work permit (come from South Africa), still got another 4-5 yrs to go before I can even apply for a british passport. How did you go about financing your bmv deals? The only way I can think of is to do jv's (joint ventures) by using someone elses name to obtain the mortage and then split the profit. Only problem I have with this is I also wish to keep a few and build a portfolio here in the UK.

With Mortage Express they will not give me a same day remortgage as I have not been in the country for at least 3 yrs, but I can get a straight mortage where I would typically have to fork out a 15% deposit, which kinda defeats the point of no money down deal!

I was thinking of maybe building up a pot of cash through jv's doing BTS's...and then slowly use that cash for deposits on BTL's (even rent backs), and then remortaging that deposit out of the property a few months down the line and put that back into my pot.  Any ideas? Bottom line is I need to get creative. Also, you mention the issue is not just getting a mortgage, its getting multiple mortages...I plan to build a portfolio quickly! (if possible)

 Cheers

Dale