Eddie Edwards

Registered with Property118.com
Monday 23rd June 2014


Latest Comments

Total Number of Property118 Comments: 3

Eddie Edwards

17:54 PM, 30th June 2014
About 7 years ago

Is renting when self employed a problem?

Thank you for all the great feedback. I thought it would be good to give an update.

To those who say about my current mortgage, if you read my original post you will see that I say 'own outright'. i.e. I have no mortgage on the property.

I need to move to have more space and could do with an injection of cash for a new business venture hence the need to sell.

Further to Vanessa's comment, I have contacted a mortgage advisor about getting a BTL mortgage and should know more later this week. I don't have much 'guaranteed' income (maybe £15k between my girlfriend and I), however I would only need a 50% BTL and the rental to interest would be over 300% so they may work in my favour.

As I see it now, I have 3 choices:

BTL
Sell via estate agent at market value (£65k)
Sell to investor at less than market value (£50k)

Any other ideas would be great.

Thank you :-)... Read More

Eddie Edwards

12:54 PM, 27th June 2014
About 7 years ago

Is renting when self employed a problem?

Reply to the comment left by "Vanessa Warwick" at "24/06/2014 - 21:49":

Vanessa

Thank you so much, this is awesome advice and something I never even knew was possible.

If I move out and do a BTL for 75% of the value, this would help with both my short term and long term financial goals.

Brilliant :-)... Read More

Eddie Edwards

11:32 AM, 27th June 2014
About 7 years ago

Is renting when self employed a problem?

Reply to the comment left by "Mark Alexander" at "24/06/2014 - 08:22":

Hi Mark

Thank you for taking the time to leave such an informative comment.

I'd never thought of the cannabis factory view 🙂 Likewise, hadn't thought about bad lanlords either...

Using a friend as guarantor and giving them the money is a good idea.

I've spoken to an estate agent and they say there is currently a good market for proerties like mine (don't they always say this...), so probably need to re-evaluate my finances and see what I can do.... Read More