Category Archives: Drake News

Renovation Mortgage: Refurbishment of an unlettable property in Scotland

Bridging finance

Renovation Mortgage Case Study Ben’s Case. We were contacted by an inexperienced developer, that was looking for some finance to purchase an unlettable, renovation property in the Argyll and Bute area of Scotland. The property was a large 9 bed detached property. The purchase price was £600,000 A local NHBC registered builder had already provided [read more]

Secured Loans

Secured loans and homeowner loans

Secured Loans The market for secured loans is growing, as more homeowners opt for improving, rather than moving. There are, however, lots of other reasons why homeowners are using secured loans. It’s not always possible for homeowners to borrow the level of money that they sometimes need unsecured and main or 1st mortgage lenders can [read more]

Buy to Let Property Investment

In the Budget of 2015, the Chancellor, George Osborne, made an announcement that rocked the buy to let property investment market to the core. Tax relief for residential landlords was changing. A Landlord’s ability to claim finance costs against rental income was being reduced in a bid to make buy to let property investment a [read more]

Bridge To Let

Calculators

Bridge To Let In an article that we posted last month, entitled “Refurbishment Finance” the narrative mentioned the recent Buy-To-Let tax changes which are negatively affecting landlords. The changes were announced in the budget of 2015 and implemented through an instrument in UK Tax Law called “Section 24”. The changes have been sensationalised in the [read more]

Buy to Let vs Holiday Let

Holiday let cottage

It is important to understand the differences between these two categories. Just because the both involve letting does not mean that they are similar; in fact the word “let” is possibly the only similarity. The law, taxation and finance for these including much of the underwriting rationale for the finance are quite different Let us [read more]