Reducing The Deposit Needed For Property Investment

Reducing The Deposit Needed For Property Investment - Shrink Your Deposit

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Kevin Wright | Property Finance Expert

Күн бұрын

In today’s video, I’m revisiting one of the first videos I’ve recorded 2 years ago. How do you shrink the deposit to less than 25%? Let’s find out.
00:00 - Intro
00:50 - One of my first videos
01:28 - Some of the comments
01:38 - Here is the important thing to remember
02:00 - Ninja Investor Programme
02:27 - How to shrink the deposit to less than 25%
04:34 - Motivated sellers
06:00 - First thing to understand
06:48 - How I funded my first deal is different to how you do it right now
08:17 - That is the key difference
09:18 - Outro
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Пікірлер: 6

@bruce3908 2 жыл бұрын

hi Kevin, thankyou for all the knowledge you share. Its greatly appreciated.

@KevinWrightProperty 2 жыл бұрын

welcome Bruce, glad you appreciate it

@gamblersruin 2 жыл бұрын

Thank you for the vid, Kevin! Very informative. In the example used in the vid, if the bridge lender lends you 75% of the market price of the house (100k), i.e. lends you 75k, and you manage to buy he house at 80k instead of 100k, so you would fork out 5k, so you could then buy the house with the 75k bridge loan + 5k deposit - I get this bit, but wouldn't the bridge loan company ask you for a deposit in order for them to lend you 75k as well? Am I missing something? 🤔 Thanks, Kevin.

@KevinWrightProperty 2 жыл бұрын

not sure you are missing anything, as you state what the deposit is. If you are buying at £80k and the bridger is lending you £75k - they ARE asking you for a deposit to lend you £75k, its £5k, just like you said.

@nassah2010 Жыл бұрын

Property is worth done up £160K The property is worth £100K Agreed purchase price is £80K Refurb is £30K i'm assumin i will need to put in £5K? the aim would be to refinance at 6 months and pay the lender off would this be feasible? Rent is £900 pcm easily achievable

@KevinWrightProperty Жыл бұрын

if the property is currently valued at £100k (and the asking price is no less, assuming it is on the market) then a Market Value bridging lender will look to provide a gross loan of 75% = £75,000. If you are buying at £80,000 then its correct that your proportion of the deposit would be £5,000. The detail is that the net advance differs from the gross loan in so far as the lender will want to deduct their set up fee and usually the interest for the term of the loan. Paying the bridging lender back within 6 months may be cutting it a bit fine. it will be determined by the speed at which you can complete the refurb, then start your application for a mortgage nad how long the mortgage lender takes to process your application. it would be more prudent to go for a 9 month loan and endeavour to pay it back early. A 75% ltv mortgage on a £160k DUV would give you