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Refinancing my Property


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I have been trying to refinance my 2 Flats, due to Mortgage company withdrawing my mortgage, i have tried but to no avail to secure a new mortgage but no bank wants to

give a mortgage. Then i meet an accountant who said he knew of 2 or 3 people who have set up a mortgage by getting private people to invest in their properties.

Basically 10 to 20 people put between £20 to £50k to finance the property / properties and the owner pays either a % back to the investors every year or a set amount after 10 years, Which i am seriously hoping i might be able to set up, just throwing it out there if anyone might be interested in investing, The % of how much would be paid back to be determined, but it would be more than you would get by having it in a bank.

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I have to say that this sort of scheme would hold no interest for me.

I would also add it is a risky venture with so many people involved especially in today's property market.

As a speculator myself I like to keep a tight control on what I do and if it does go belly-up for me then it's my problem and I would not have to consult other people who have a financial interest in my affairs.


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