Refinancing - means borrowing more. Borrowing more means reducing cashflow. Reducing cashflow means risk for your portfolio if 1) interest rates going up 2) Some tenant decides stop paying rent 3) Unexpected maintenance cost and etc. Good luck! Don’t listen to youtubers, think about risk!
@@chrislamph doesn’t matter if you will buy another property. Another property will require higher investment from you. Also as u increased loan on first property by refinancing it- it will impact your cashflow even more
@@chrislamph dude, my current portfolio in double digits. What you talking is BS. You can refinance safely once you owning more than 50% of the property.. else you risking a lot to reduce your cashflows to extreme. Also you comparing apples to oranges here. Check out latest interest rates for BTL SPV at LTVs like 75 or 80.. for average landlord- it would be disastrous.. not because it wouldn’t cover, because of Lenders “stress test” which is now 125-135%.. so in the end you have no idea what you talking as you following hype and youtubers which claim owning 100s of properties, but when you checking for annual statements+charges you finding like 4-7 properties.. So don’t want sound arrogant and nothing against you- what I am saying- is a lot of scam!
@@chrislamph check Company house on his companies. I don’t believe in anything those youtubers telling.. if they would be successful- they wouldn’t make youtube videos - think about it. Also I haven’t seen any youtuber which would start from “scratch” with his own money and make millions and hate that, because they full shit. I know this, because I started from scratch and I know about risk and how much time and effort it takes if u working with your own money without scammed investors.. all money they make - is from their courses, youtube, houses flips and etc. BTL is minimal portion in his business
@@chrislamph I haven’t any - perhaps we looking at diff annual statements :) most accounts not even filled for recent years.. and I cannot see any company which would have more than 1mln in assets which would be owned by him. Also if you will read trust pilot reviews or other forums about him- you will realise - it’s a weird story behind all this :) I attended one of zoom meetings and asked some very valid questions- none of my questions were answered- because they couldn’t allow to expose themselves :)
Hi just wanted some advice I have a house in the uk that has no mortgage that I am living in with family but they are retiring and going to move overseas for good so I wanted to know the best way to utilise this house to get passive income and also be able to get more properties to increase my income where I can look after my family and not work a 9-5 anymore. Also will I be able to rent the house out and also refinance at the same time ?
Another thing to consider may be for people that don't have kids and eventually plan on selling. If you remortgage constantly, and in 30 years say have remortgaged at 400k, the capital gains tax bill could be waaaay more than the amount of equity remaining in the property. Therefore having a CGT bill that's unpayable.
Hi Jamie Quick question about refinancing. If my property is in a Ltd company, I refinance, how can I personally take that money tax free in my own name or bank account? Or does the refinance money have to stay in that Ltd company And I cant use it personally?
Hi Jamie be nice to hear your thoughts. Refinancing great, but current rates ?? Looking to get 4th property typical 25% down 75% mortgage. However stress test is now 7.6% at 145% of rental income. Thoughts ? Hearing from some lenders BTL down 90% on new mortgages 🤷♂️
Even the best company rates make it borderline to clear cash flow at the moment. It’s good to listen and hear what other investors are doing in the current climate though. 👍
@@carlandrews7348 not really. Accord are currently doing 3.49% trackers on a 25% deposit for company borrowers. I’m just about to close on a £95k single let for £625 pcm rent that will yield a 14.85% roi. Even if the base rate rises to an average of 5.49% the roi is still a not too shabby 9.71%. Better than any back return right now. You just need to find deals that let you buy today at tomorrow’s price.
Hey mate! I own a house out right for £250k can i change to buy to let and pull out money from it? Are you limited to how much I can pull out based on earnings or is just the standard 75% I can take out it. Thanks.
Hi Jamie love the content! I have one question I hope you could maybe do a video on.. Do all investors only have interest only mortgages or would they have one residential mortgage and the rest interest only? I currently have around 100k of equity on my residential mortgage and was going to remortgage and invest in several BTL’s.. im wondering whether to do that and then keep the original mortgage as interest only? Thanks
I like watching these videos but to be honest they do make it sound easier than in real life. I have a couple of properties that I rent out and remortgaging is a pain in the backside
At the first looks, it looks like a wow video, but to be honest - you should take care of two points - 1) Your numbers are not correct. In this video, how can you first mortgage amount be 85K for a 125K property with LTV of 25% ? That would be 93.75K and hence leaving lesser in your pocket. 2) You are taking at the surface level without considering other charges, complexity and practical challenges. Please think that this kind of video might give insufficient information and despite any disclaimer, they may take incorrect action and it may impact them (and their family) - particularly the beginners.
Great view on inflation haha. Only if its high it works though which is unlikely on a consistent and longer timescale. Inflation target is 2% not 10… the system knows how to not fk themselves
Gift them shares in the company over a period of time where the value of the shares does not exceed capital gains tax allowance and make sure that you do this at least 7 years before you die. You also have annual allowance for inheritance tax of £3k
Thanks! Would be great to work together! Head over to www.aspirepropertygroup.co.uk/?RU-vidOrganic and fill in your details, and a member of my team will be in touch! 😊
Your very first sentence is misleading and incorrect. Refinancing is not free money. You have to pay interest on it and eventually also pay the principal back. Please don't be so reckless to call it free money.
