Growing Portfolio How best to finance it

You are here : Member Forums Property Investment Growing Portfolio How best to finance it
This topic has been locked as no posts have been made within the last 90 days.
P
PJ_556
11 Posts
0 Thanks
We have 4 flats, two have buy to let mortgages, one has a capital repayment (we were thick then) and the other no mortgage. The three mortgages are five years fixed. We have always drawn on our savings to finance the deposits, refurbishments and legals but are now without any pennies. It seems exorbitant to borrow money for the mortgage on the next flat then have to borrow a seperate amount for the deposit etc hence double fees and hefty repayments on two debts for one flat. Am i seeing this wrong?? Is there some other way as how can people finance 50 properties in one year when they can't all have grown in equity to borrow so much. Also, how can the rent cover the debts of two loans. Please help me see where i am going wrong as i am due to buy another flat and am having to look down the settee for coinage to finance the deposit.
22/07/2006 00:00

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Landlord & Investment Show
Remove a Tenant
Landlord Broadband
John Pye Auctions

Share this page