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Investor Loan?

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  • Investor Loan?

    Mum passed away in October, and I'm looking for the best way to raise financing for the property.
    The following are factors which may be relevant:-

    • I'm recently self-employed without any evidence of income
    • My wife has a full-time job and has been employed at the same job for over 12 years
    • We own a property, the value of which is approximately 1.5 x the value of Mum's property (more than 90% equity)
    • Her property is in need of aprox £15,000 or update costs (nothing structural)
    • We have no other debts (car loans, excessive credit card bills outstanding etc)
    • We are UK citizens
    • We have very little to put down for a deposit (£5,000 max)
    • Mums property has recently been valued by an agent at £190,000

    Any idea's/help regarding raising the finance would be most welcome as this will be our first investment property - if we can find a way to fund it.

    May consider working with another investor for a year or two, and then re-financing at the end of that period, with a bank.

    Your attitude, not your aptitude, will determine your altitude. (Zig Ziglar)

  • #2
    Hi - you maybe sorted by now.
    Have you thought about Bridging Finance, this is a short term loan for Investors (usual over a 12 month period).

    We can support with this, if this is something you feel would help you in the short terms.
    We offer up to 75% of the value of the property.

    Hope this helps.
    Many Thanks


    • #3
      I guess that you don't need to look for an investor by yourself, but it depends on whether you want to keep the Mum's property and use it as loan guarantee or you want to sell it..
      In the second case, there are several ways to sell it... You don't need to look by yourself for a buyer, for example, you sell it to homebuyers, they can help you to sell your proprety quickly


      • #4
        The original post is a year old - why bother replying to it now?
        GPS was bad enough replying after 6 months!


        • #5
          Originally posted by Wayne View Post
          The original post is a year old - why bother replying to it now?
          GPS was bad enough replying after 6 months!
          Well, I wanted just to share my idea, and you can find someone who needs the same information.. So it will be useful for him to read my comment, I have forgot to add a website that can help to find a seller quickly


          • #6
            Here is the webste that I have been talking about in the comments: yeshomebuyers.com