You may be able to this this then as buying off landlord in the future, probably need to have been renting it for a while though first, 12 months is the norm
Is there an amount you can do? For example house is worth £750k. There is capital gains tax, do you have a minimum purchase price? Could you buy for £200k?
Hi there! My grandparents are potentially looking at doing the same for me and my partner. However, the totally own the house outright with no mortgage. Could you explain how it would work in this situation please? :)
Hello Looking to buy my parents house as a Buy to Let concessionairy purchase ? Is this possible and would I need to provide “books” to evidence the buy to let, thanks
Hi my landlord is willing to do this for me but my name isn’t on the actual tenancy agreement. Only my dads is. But I’ve been registered here for a year. Do you think this will be accepted?
It anyone wants to know more or needs this type of mortgage arranging then get in touch
Very interesting info, just about to move into a property that is owned by a family friend, we told them we'd like to buy aswell
You may be able to this this then as buying off landlord in the future, probably need to have been renting it for a while though first, 12 months is the norm
Thanks 4 this! Very interesting topic that needed to be addressed mate
No problem, share away to spread the word
How do you go about it if they still have a mortgage amount remaining? Same principal?
I did this with my dads house.
Is there an amount you can do? For example house is worth £750k. There is capital gains tax, do you have a minimum purchase price? Could you buy for £200k?
Thanks for this video. Please which lenders will allow parents to continue living in the property after the purchase?
Most of them will if it’s done as a residential mortgage as opposed to buy to let.
So can you purchase a property from a relative under the market value.
Yes and no, technically your not buying it under market value, but in reality you are as the equity is gifted
Hi there! My grandparents are potentially looking at doing the same for me and my partner. However, the totally own the house outright with no mortgage. Could you explain how it would work in this situation please? :)
Sure, if they want money for the house you just get mortgage for whatever they want for it
More info plz
Hello
Looking to buy my parents house as a Buy to Let concessionairy purchase ? Is this possible and would I need to provide “books” to evidence the buy to let, thanks
Yes it’s possible. Books wise for the rent, no I doubt it
Hi my landlord is willing to do this for me but my name isn’t on the actual tenancy agreement. Only my dads is. But I’ve been registered here for a year. Do you think this will be accepted?
You might be ok, if you have been living there for over a year
@@Progressfs thank you for the reply. I have subbed 👍
Hi, just wondering if doing it this way you get penalised elsewhere like on interest rates or anything like that? Thanks
Hi Mike, no not at all
Is there an option for consessionary purchase from a friend?
I am not aware of there being an option from a friend
Could I get one with a small credit history.
30% ltv
Potentially yes
How does this work with bad credit
It is much harder as not many adverse lenders do it but some do
What’s your number ?
This is too vague, are you a mortgage broker
enquiries@progressfs.co.uk