russ295 Posted July 6, 2006 Report Share Posted July 6, 2006 hi all at the moment i have the property i live in, value about £200k, a block of three shops, 2 rented and my wife has her buisines in the other, and a 2 bed mainsonette above two of the shops, have no idea of the shops value, but i get £200pcm for each of them, mainsonette probably worth about £85k, getting £300pcm for that. i currently have no lending on these only about a 60% ltv on my property. i would like to purchase more residential, but i have spoke to a few advisors and they have all said it nearly impossible to get any lending on commercial property under £100k each, (although in good repair they are definately not worth that!). i could remortgage the mainsonette but i dont think it would give me enough capital to get started. anybody have any ideas russ Link to comment Share on other sites More sharing options...
plym77 Posted July 6, 2006 Report Share Posted July 6, 2006 Hi Russ It may be possible to secure a mortgage on your own home (or any of the other properties), but have it deductible against your rental business income - which I assume is what you are getting at. This is not a difficult situation to overcome - I posted recently regarding mortgages and deductibility on another thread - have a look at it and if you have any further questions, let me know. The thread is 'Buying to Let or Occupy' and I last posted there 7/6/06 If you are actually looking for finance itself, then I cannot advise on this as I am not an IFA. Plym77 Link to comment Share on other sites More sharing options...
plym77 Posted July 6, 2006 Report Share Posted July 6, 2006 To clarify, you may be able to arrange a number of mortgages across your portfolio to purchase new investment properties and still have an allowance for the mortgage interest against your income from the properties. Link to comment Share on other sites More sharing options...
kaman Posted July 6, 2006 Report Share Posted July 6, 2006 Hey Russ I have sent you a pm please check kam Link to comment Share on other sites More sharing options...
dealfin Posted July 7, 2006 Report Share Posted July 7, 2006 Hi Russ I have also sent you a PM. If we can be of assistance please get back to me. Link to comment Share on other sites More sharing options...
russ295 Posted July 7, 2006 Author Report Share Posted July 7, 2006 thanks all Link to comment Share on other sites More sharing options...
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