morgages

[shadrack]

anyone know how difficult it would be to get a 3rd morgage, not massive and my others arnt massive i would say, i have a btl that has 50k oweing but is only a cheap flat but rents out well at £100 pm more than morgage because of property value falls its on ltv of 90%
my house was 100k and has 80k oweing but again because of property its valued at 90 so on 90% ltv
but houses on our street get 5-600 pcm rent so easy cover morgage.
the house i want sold for 155k in 2007 on zoopla, its valued at 130k now on zoopla, its up for 125k, the vendor says they could take 100k on it and i could put 20k down or sell the x5 to put more down so am i right in thinking i would be on a 60ltv and therefor stand a chance of getting a third morgage, ive not got a huge income 28k per year and other half is out of work on maternity leave so same again down per year (bloody kid!) does anyone know of a company that would do that? and am i right in my ltv thaughts, thanks

[Imy]

Ok,

There is a lot of information there.

I work for a company called the Paragon Group, we are one of the biggest BTL providers outside of being a bank.

I'm not plugging the company and I work on the corporate finance side of things so I can't tell you too much.

What I would suggest is giving them a try, they normally prefer to deal with individuals who already have BTL. There are loads of other facilities available and it's just a matter of doing your research...

In the current climate with the figures your talking about I don't see it being an issue but hen it is a volatile market and I couldn't quote you on interest rates as they are individually catered for.
In the current climate it's quite hard to see which direction the market is going in especially for landlords, a recent study compared property value increases between 2002-2007 and 2007-2012, while there was a huge increase in the first as we all know, in the latter there was increases of less than 1% or 2% ( I can't remember exact) which some suggests that the market is nearing its peak. However it all comes down to yields which work hugely in your favour as you are already experiencing.

I need to take a look at where my social life is going wrong if I'm sitting here discussing this on a Saturday night!

Good luck!

[shadrack]

social life lol,

i included alot of imformation so if anyone knew how to deal with it they had the info, will probly remove post once ive got the answer, hoping to get a new job before xmas that will be 10k a year more, what i want to do is live in the 3rd house and let my current, my morgage company says they will give me permission to let mine so i could get the third as a residentual one, thanks