• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 6 of 6

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

  3. #3

    Default

    Hi,
    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. #4
    Join Date
    Jun 2004
    Posts
    10,299

    Default

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

  5. #5

    Default

    Quote 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. #6

    Default

    @steevg
    Here is the webste that I have been talking about in the comments: yeshomebuyers.com


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Construction Loan
    By Connor in forum Finance, legal and tax (NZ)
    Replies: 1
    Last Post: 12-10-2016, 11:48 PM
  2. Personal Loan with Mortgage Loan
    By yafeda10 in forum Property Investment (NZ)
    Replies: 6
    Last Post: 18-05-2015, 10:12 PM
  3. Replies: 4
    Last Post: 27-05-2012, 11:16 AM
  4. Which loan to pay down first
    By ilusiv in forum Finance, legal and tax (NZ)
    Replies: 9
    Last Post: 21-05-2012, 11:54 AM
  5. Searching for Private investor to Loan Funds at 20% Interest or Equity Partner
    By CorporateMonkey in forum Finance, legal and tax (NZ)
    Replies: 0
    Last Post: 25-10-2011, 06:48 PM
  6. Loan in NZ
    By Ashy56 in forum Finance, legal and tax (NZ)
    Replies: 1
    Last Post: 13-06-2011, 12:46 AM
  7. Is it a loan????
    By janesco in forum Finance, legal and tax (NZ)
    Replies: 5
    Last Post: 01-02-2005, 08:35 AM
  8. Best arrangement for a loan?
    By muppet in forum Property Investment (NZ)
    Replies: 1
    Last Post: 02-12-2004, 08:48 PM
  9. Houses that won't sell even in a fevered market
    By Marc in forum Property Investment (NZ)
    Replies: 1
    Last Post: 02-12-2003, 09:57 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •