I had a really interesting conversation with a mortgage broker a few weeks ago who showed me an easy way to do No Money Down, No Money Left In deals, using a financial product we’ve probably all heard about, but which many of us have (wrongly) steered clear of!
I explain it all in the video (6 mins) so please have a look, and even better why not add this ‘tool’ to your ‘property tool box? I certainly will be, in fact I’m meeting some one at the end of the week who will hopefully help me to arrange my finance.
Hi Peter, thanks for the video. One thing that wasn’t clear to me from listening is what happens when the bridge financing terms out? Are there really lenders out there that will still provide financing for the full quantum of the bridge loan? In other words they will lend £70k on a property that was purchased at that price only 6 months ago if a surveyor values it at £100k?
I would be interested to hear your thoughts
Thanks
Hi TW
yes, there are, but the key to all and any of this is a good mortgage broker fighting your corner, and making sure you can exit the bridge onto conventional finance like a buy to let mortgage