How To Release EQUITY To Buy A SECOND PROPERTY

How To Release EQUITY To Buy A SECOND PROPERTY | Property Investment UK

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Property Accelerator - James Nicholson

9 ай бұрын

How To Release EQUITY To Buy A SECOND PROPERTY | Property Investment UK
Learn how to release equity from your home to invest in a second property in the UK.
🏠 Inside:
Equity release steps
Investment tips
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Пікірлер: 32

@propertyaccelerator 9 ай бұрын

🔥 Get Access to the Property Accelerator Course HERE: property-accelerator.co.uk/join/

@marklewis3023 9 ай бұрын

It's always interesting to see video's about house prices & strategies, however what you also have to consider is that you need rents to keep up with the equity that you want to release. If this doesn't happen you won't hit the affordability and hence can't release the finances to buy additional properties. This is never more true than today where interest rates have jumped and landlords are seeing their mortgage payments double.

@propertyaccelerator 9 ай бұрын

Correct and up North prices might rise slower and down south rents might increase faster. Lots of things to consider.

@youtubeman5033 9 ай бұрын

With the interest rate high,the rent would have to be very high, best to wait to see if it comes down, or buy cash

@propertyaccelerator 9 ай бұрын

Yes I agree

@TomRyanElliott 2 ай бұрын

This is a great video! I bought my first B2L property and have a mortgage of £70k. I bought it at an auction and worked on the roof, kitchen, garden, and essentially the whole house. It's currently rented out, but I didn't think of speaking to the mortgage broker to bring out the deposit to buy a second one. As the value has gone up so much with everything in there being new, would you recommend still speaking to a broker?

@propertyaccelerator 2 ай бұрын

Find a local broker in case you need to meet. Only criteria check they cover whole market and all lenders not all do

@avishekghose3299 5 ай бұрын

What about the impact of stamp duty charges on B2L or second homes?

@propertyaccelerator 5 ай бұрын

Yes you have to take into account costs of legals, and stamp duty. This is just to show roughly how it works.

@rizwansuper1981 4 ай бұрын

Do the properties double in the price in Middlesbrough area because it seems like they are not going up as fast

@propertyaccelerator 3 ай бұрын

Check on Zoopla, look at a few houses and see what they sold for 10 years ago.

@lorrainepacheco8185 2 ай бұрын

Thanks for the information but I feel like a nutter....is there a number where I can reach someone for help/advice as I haven't understood. Lost you at step two sadly.

@propertyaccelerator 2 ай бұрын

We have a very affordable property course here - property-accelerator.co.uk/fundamentals-of-property-investing/ that will really help you.

@MakemoneyonlineWorkfromhome 5 ай бұрын

Can you recommend a buy to let mortgage?

@propertyaccelerator 5 ай бұрын

Its different for every person and property I would speak to any mortgage broker they will get you the best deal.

@gamerabhi7026 Ай бұрын

Is there anyway to swap the residential property to a limited company's name?

@propertyaccelerator Ай бұрын

Not without selling it which incurs lots of costs and tax.

@jdt8601 9 ай бұрын

Do you have your house in limited companies? Was trying to figure out if it was better to buy in your own name as equity release would be a loan therefore no tax but you would have to stomach the section 24 tax then. Or go Ltd and just pay the tax when you pay yourself?

@propertyaccelerator 9 ай бұрын

My original properties I own in my personal name as that is how we did it back then. Now my new purchases I have in a Ltd company

@Avdarmaly 6 ай бұрын

But when I release money from my own property, numbers aren't that great. Look: property is worth 200k, outstanding mortgage 75k. So if I remortgage and get 75k for my next property, mortgage on my property will be around £1000 a month (5.5% interest). I use released 75k to buy a 250k property (£62500 deposit + £7500 stam duty + costs) and my interest only mortgage will become £860 a month (5.5% interest only). With rent £900. So effectively I won't have any cashflow untill either interests go down, or rents go up, or both. And all this in case everything goes smooth with tenants and nothing goes wrong with the property. So what's the point of doing all this? get as twice more debt only to have 0 extra income. Am I missing something?

@propertyaccelerator 6 ай бұрын

Rates are coming down it will work better when rates are circa 3%

@bartomiejsaweczko6152 5 ай бұрын

Flats don't rise double in value only houses

@123sumom 9 ай бұрын

I have residential mortgage property I want to buy another property

@propertyaccelerator 9 ай бұрын

You can release equity if you earn enough to cover the residential mortgage.

@DJLalr 9 ай бұрын

Mate, i bought a freehold house in Bournemouth 16 years back for £145,000 but it has not doubled yet - am selling it at £250,000 today. Its crazy to say it doubles every 10 years - total nonsense And my house is not in a shity area. Location is 15 mins to beach and centrally located. Bought the house below market value when everything was selling at £180K, so got a bargain. Total nonsense to say doubles at every 10 years. That means should be more than £350K now, but its bollocks init....love your channel and contend but dont decieve people, mate. Back then some plonka told me it doubles every 10 years, yeah right. I was a fool thinkin i would be doublin it and move off to spain or somewhere. I been waiting and waiting - it ain't doubled yet...and spain is getting expensive...

@marklewis3023 9 ай бұрын

So you bought in 2007 just before the crash? I'd say you overpaid back then & this is why you won't have seen the same increase. You're also now selling it when the market has dropped, so you bought in a high & are selling in a low and are £40k off the total if it had doubled (£290k). The stat of house prices doubling every 10 years is an average & to be honest I think 12 years is a better rule of thumb. They say you make money when you sell houses, but the key is to also make money when you buy them, this is done by negotiating the price & adding value. Back in 2007 things were crazy with the market, 100% mortgages etc. hence you really couldn't negotiate a purchase. However what you could do is add value, so bought a house that needed a ton of work & then brought it up to a good standard. A friend of mine also bought in 2007, split the property in to 2 flats, when the crash happened she couldn't care less because the cash flow as great. Her only comment was, I wish I'd bought more!

@youtubeman5033 9 ай бұрын

Still not bad profit, you’ve done ok,I try and find houses that need a bit of work, I’m a plumber so it helps,

@propertyaccelerator 9 ай бұрын

As Mark said you bought at the peak of the market, if you bought in 2011 it would be a different story. However you are right not every area doubles its an average. However it sounds like you have done very well out the the property with £100k in equity, its pretty tough to make that in stocks and shares etc. It was also a much lower risk investment.

@visiblekoment 9 ай бұрын

And this is when you see you subs decline.

@propertyaccelerator 9 ай бұрын

My subs are growing faster than ever! Will hit 8000 this week.

@davygeorge3471 9 ай бұрын

You shouldn’t be encouraging equality release in this market

@propertyaccelerator 9 ай бұрын

If you know how to run an investment releasing equity is fine in this market. You can fix the deal on a rate at a number that stacks up. New deals are out there priced very well so investors can get some great deals.