Make Some Money

Is this another sign of the credit crunch?
During May Birmingham Midshires added a note to their mortgage book with the CML (Council of Mortgage Lenders)

5.1.1- Contact point if the seller has owned the property for less than 6 months.
Completions Team at office issuing mortgage instructions. See Offer for contact details.
NB We will not normally proceed […]

Whilst I was away I was informed that Mortgage Express, one of my favourite mortgage lenders had overnight pulled the plug on their instant remortgage product. Mortgage Express were the only major mortgage company to allow an investor to remortgage their property before owning it for 6 months. An instant remortgage product allows investors to […]

In the last 2 weeks or so ALL UK banks and lending institutions that I and my fellow investors use seem to have tightened their belts and repriced their mortgage products. Fixed rates have gone up as well as variable tracker rates. Arrangement fees are also still stupidly high.
Even though UK Interest rates have […]

The UK Bank of England has cut interest rates to 5.25% from 5.5% following signs that the UK economy is slowing down. The Bank needs to ensure that growth and inflation are balanced but the move today was widely anticipated by analysts after cuts in the US, where the Federal Reserve slashed its borrowing costs […]

Thats right Interest rates down to 5.5% and I’m about a week late to report this but is it really news?
The Bank of England last week dropped their base rate to 5.5% the first drop in rates in 2 years. Economists predict that rate will reach 5% by mid next year.
Save £21, Merry Christmas!!
On […]

as a keen BTL investor I have used many different mortgage companies and here is my current list of best and worst lenders. they are rated by a mixture of speed to offer, speed to complete, rate of their products.
The Good
1. BMS - Birmingham Midshires.
speed to offer is excellent and no problems with completions either. […]

this is the second mortgage that i’m trying to complete on with GMAC RFC.
they have been an absolute nightmare according to my solicitor.
both times GMAC have not been able to meet the completion date and requested more information such as asking for mining reports at the last minute when there have been no problems with […]

Find a good mortgage broker
a friend of mine has just had a slight balls up with a mortgage on a property he was buying. he was buying below market value and hence needed to arrange an immediate remortgage to release his funds for more investment. he used a random mortgage broker who to me sounds […]

Remortgage to the hilt, borrow to the max
i know some savy investors who constantly buy properties undervalue and through clever financing can always pocket £5-£10k via a remortgage to release equity , but have little or no cashflow from day one. their strategy is to keep buying at least one a week. cashflow is from […]

slow mortgage offers
mortgage express who i use quite often for my mortgages seemed to have slowed to a halt these last few weeks.
I have a few deals going through that are waiting on mortgage offers from mortgage express. they normally are quite fast in making their offers and can normally get them out in a […]