How many buy to lets can I buy?

How many buy to lets can I buy?

9:11 AM, 3rd February 2014, About 8 years ago 25

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Does any one know the current limits on how many buy to lets/how much one can spend, before the big lenders pull the plug?

I know some say you can have ‘3 buy to lets’ or ‘9 buy to lets’ or whatever, others say you can borrow an amount of money.

I know there are limits across the Lloyds group but I’m having trouble finding the actual figures.

Can any one help?

I’d like to make an up to date list. How many buy to lets can I buy?

Peter



Comments

Mark Alexander - Founder of Property118 View Profile

10:17 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Neil Patterson" at "05/02/2014 - 10:04":

Hi Neil

Whilst research tools are useful for some people, they do not answer the question raised by the original poster.

I agree that research tools are a reasonable starter for 10 for the average landlord and that was what I said to Vanessa. However, for an established portfolio landlord, or for somebody who is doing a deal which doesn't fit the boxes (filters) on a research tool, that doesn't mean a deal can't be done.

To give you some more examples, some people will want 100% funding for their next deal. The computer will always say no but a good adviser will ask whether there are any other assets against which a deposit could be raised.

Other examples would be development finance deals, a property which is let on a long lease, semi commercial, properties which are not residential, high rise, non-traditional construction, section 106 covenants, overseas property, and so the list goes on. Then there is borrower status, overseas investor, trust, pension fund, LLP and that's just the beginning of yet another list which no research tools are ever likely to accommodate fully.

For a UK resident with an income who wants to buy a bog standard residential property in their own name and has between 1 and 50 mortgages then research tools are a great starting point. As we both know though, that was only a fraction of the business we used to complete when we were broking 🙂
.

Neil Patterson View Profile

10:24 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Mark Alexander" at "05/02/2014 - 10:17":

Yes I am agreeing with everyone today.

I think you were typing this when I posted that I decided to disagree with myself LOL

The vast majority of deals I ever did were as a result of talking to people and helping out before they found a property 🙂

Mark Alexander - Founder of Property118 View Profile

10:26 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Neil Patterson" at "05/02/2014 - 10:24":

In that case I think it would be a great idea for you to give me £1,000 in cash - agreed? 🙂
.

Neil Patterson View Profile

10:31 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Mark Alexander" at "05/02/2014 - 10:26":

I am starting to regret getting up this morning!

Yes that is a fantastic Idea I will draw it from your capital account 🙂

Anyway last laugh is on you as I have spent loads more of your money !!!

Hazel de Kloe

14:21 PM, 5th February 2014, About 8 years ago

Reply to the comment left by "Howard Reuben" at "04/02/2014 - 18:17":

Thanks Howard! Very kind of you to say.

🙂

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