Can't Get A Mortgage On That Investment Property?... NO PROBLEM | Buy To Let Investing Tips

It seems everyone's looking for easy/simple investment property or buy to let type deals that you can buy with a mortgage. But in today's property market, perhaps investing in unmortgageable properties were you can't get mortgages and then adding these to your portfolio might be a better idea?

If you can find an unmortgageable property, perhaps one that's really run down, you can potentially make a LOT of money.

And so in today's video lesson I explore...

1. What makes a property unmortgageable
2. Where to find unmortgageable properties
3. What to do with them when you find them

By the way - as stated in the video - I must make it clear I am NOT FCA approved and so before taking any action on any of the mortgage observations I have made here, it is essential top seek the advice from an independent mortgage broker and to give you one recommendation... have a chat to...

I hope you found this one helpful.

All the very best... Tony Law | Your First Four Houses

[civcinfo]

Just brilliant! Seriously, Is there anybody better in this space, than Tony? I'd bet my mortgage that there isn't. Thanks again Tony for a brilliant video! :D

[linford]

Honestly Tony is the best . I wish you can become my Mentor in the property business which I will like to get into.

[andredeoliveira]

Thank you so much, Tony, I really love all your videos. Fantastic video👌

[joshfletcher]

Tony could you do a video to expand on options and what’s lawfully involved to make the process as smooth and secure as possible?

[paulstone]

I agree with Civci, great quality informative videos! It's a shame your channel seems to have some sort of a glitch with the "like" button and subscribers - they don't work. I have subscribed to your channel, and have liked just about every video but it never shows up on the count meter? Seems as though the YouTube abuse bots are going haywire and filtering every single like. Tried using Microsoft edge as well as Firefox. This is tragic since your videos easily would amass plenty likes (100+/vid after 1000 views)....don't want you to feel discouraged and give up with the helpful content :)

[kbullough]

Just to add to the list of unmortgagable properties, I couldn’t get a mortgage on my house because it needed a full rewire. The elderly couple had moved out into sheltered accommodation and i paid for the rewire then my mortgage was approved

[paulstone]

Hello, to add something about the video, your last question (any other unmortgageable properties) - there's quite a niche market in the mobile homes sector. In America these (manufactured homes on wheels) are now seen as real estate and can be bought on a mortgage, whereas over here they're still seen more like a terribly depreciating "vehicle", thus cannot be mortgaged through the usual mainstream lenders. I reckon they'll gain popularity here at some point when people start to see the value for money (modern designs, up to 50% cheaper than bricks and mortar) and when all the negative stereotypes begin to dissipate. Much of it is just a case of lack of exposure/information. Given the chance to purchase a quality manufactured home at a reasonable price (garden space included) over a poky flat that's only draining their cash-flow on rent, many young couples would jump at the opportunity.

[daneledanele]

I've got a question: if shops can be converted as residential use, why they are so much cheaper than any other properties? Does it worth be considered?

[cleliofs]

Is a share-ownership unmortgageable? Also, if I but, let's say 60% or 70% share of a property (flat) can I let it out for investment? Cheers.

[markilingworth]

Hi Tony -Just this week I was interested in a unmortgageable 2 bed flat that was so, simply because it was above a butchers shop. Otherwise the flat was in great condition with no other major issues. As a cash buyer I was really tempted because it was 40% cheaper than other flats in the area. However, I didn't go ahead as I thought that it would always be unmortgageable and therefore always worth 40% below the market if i wanted to sell in the future. In your opinion do you think I made the right choice to stay away and make better use of the cash elsewhere, or perhaps should've taken a punt that flats above butchers shops would become mortgageable in the future?

[williamoneil]

Flying freehold causes problems. Most mortgage companies require the flying freehold area to be less than 30% of the total building.

[pkrupin]

Hi Tony. Thanks for a great video. I have a question concerning buying a property with tenants. Is it really always unmortgageable? I have seen a lot of deals offered by deal sourcers or other investors selling parts of their portfolios. Typically. part of the offer is a calculation of ROI and here they would assume 25% of your deposit and the remaining part would be shown as a mortgage. Is this really a case that you would never get a mortgage for such a purchase?

[tanodamorire]

Can you make any remedial work on a flat that is on the 20th floor or a concrete council building? I think some properties which are unmortgagable will remain unmortgagable.

[yurihuski]

when you say above 5th floor un-mortgagable do you mean the cladding issue?

[ericcalabrese]

Do you have a facebook page to follow?

[ghar]

Why wouldn't you be able to mortgage a tenanted property? surely there is income coming in from day one!