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Thread: Investor Loan?

  1. #1

    Default 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.

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

  2. #2

    Default

    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


 

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