Finance for property purchase
What is the best way to arrange short term finance to purchase property to renovate and sell on?
Asked on Feb 9 2011,
Home Finance in Plymouth |
Try this link and see how you get on http://www.auctionfinance.co.uk/ it’s a company a lot of professionals use.
Answered on Feb 9 2011,
Specialist short-term finance is great if you definitely will move the property on within, say, 6 months. In practice these days it tends to take longer than this. It is however, expensive. If you think you will need the money for more than a year, get a conventional commercial mortgage (about 5-6%). You can also get a BTL mortgage if you never end up letting it.
Answered on Feb 12 2011,
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