DONt MISS TONIGHTS EVENT!!! We have great news for you! Monday 3rd November - Camden Town Hall - Phil Riches To book your ticket >> Click HERE: bit.ly/1nMHKcs We have a great guest speaker, Phil Riches coming along to the London HMO Property Meet this month to advise you on the inside knowledge of how to fund your HMO. Phil has worked within the mortgage industry for more than 25 years specialising in buy to let and commercial mortgages. He joined Keystone Buy to Let Mortgages in 2012 as a regional business manager but was quickly promoted to Head of Sales. Before joining Keystone Phil spent eight years as a divisional sales manager for Platform. Prior to that, he was a regional manager for Paragon. In his spare time, Phil is a keen golfer, gardener and active Round Tabler. Phil is a lively and knowledgeable presenter, who is often asked to speak at industry events. Securing finance for an HMO is not as straightforward as getting a buy to let mortgage for standard rental houses and flats. Most mainstream BTL lenders steer clear of HMOs; however there are specialist providers whose systems and staff have the knowledge and capability to underwrite these transactions. In his presentation, Phil identifies the specialists and how to access them. He also analyses their rates, terms and lending criteria. In particular Phil will cover: • Finance types and lenders – buy to let mortgages for HMOs, commercial mortgages, property development finance, medium term finance, bridging, refinancing within 6 months of purchase and/or renovation • Borrower profiles - experienced and non-experience HMO landlords, finance for individuals and limited companies, lender exposure limits, credit checks and profiles • Property types - habitable and non-habitable HMOs, licensed and non-licensable HMOs, new builds and conversions, number of letting rooms • Tenant types – professionals, students, those in receipt of housing benefit, individual and group ASTs • Valuing HMOs – the valuation process and costs, bricks and mortar valuations, investment valuations • Rates and terms – what rate you can expect to achieve, interest only or capital and interest repayment, tax implications, choosing fixed or variable rates, impact of rate rises, lender stress tests, when to refinance • Accessing finance – DIY or using a broker, negotiating terms, how to present and submit a loan application, supporting documentation, application processing timescales To book your ticket >> Click HERE: bit.ly/1nMHKcs This is a fantastic opportunity for landlords, agents and anyone thinking about buying or managing a HMOs to come learn and share knowledge from the experts. We look forward to meeting you!! Alan Wood & Elaine Lawrence London HMO Property Group Organisers.
Posted on: Mon, 03 Nov 2014 10:31:27 +0000
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