How To Buy 10 Houses with £50k

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In this I show you how to buy 10 houses with £50,000 using bridging.
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#10HOUSES #SmartInvesting #BridgeLoan

[@gavinmiller3279]

”you need to use a bridging company!” ”by the way I own a bridging company! 😉” Genius 🤣🤣

[@lawrencecarlos9875]

Samuel, you are a mountain of knowledge and you are very interesting to listen to. From the way you explain, not unless someone has blocks of wood in the brain, he/she can get your explanation. I will follow your advice and see whether I can make it in property business. I have also bought your books. You are a blessing to society.

[@steveharman8907]

Thank you Samuel for that inspiring reminder....I did lots of refurbs in the 90’s and am now going to do EXACTLY WHAT YOU JUST SHOWED ON HERE..!! Thanks so much.

[@Elite_Sophie]

I’m sorry, that is a very dangerous game to play, bridging loans are typically much more expensive than a standard loan, and buy to let mortgage. The rules in the UK for letting the property have now changed, so if you’re unable to sell it you’re also unable to offset your mortgage interest against your taxes at 100% like you could a few years ago, now you can only offset 20% of your mortgage interest cost hence you now pay tax on 80% of money you don’t actually earn. This system works in a rising market, but when there is a possibility of a property value reduction, this is a very very dangerous game to play.

[@sd3116]

So what should I do with 50k go to another country in emerging markets or what?

[@danielwilson1105]

Sophie is on it 👍

[@Elite_Sophie]

@@danielwilson1105 thanks 🙏🏻

[@BristolF]

Something else he failed to mention is that BTL lenders will base their loan on both bricks and mortar value AND rental value. If the property achieves a relatively low rent (“low yielding”) then the BTL lender may not lend 75% at all. They may lend 70% or even lower!

[@bubaba8938]

Like you guys say he doesn't mention the risks and downsides of this method.It's also that these type of properties that are older and and need renovating have been built by outdated materials,electrical, plumming and might be hiding things that are unrepairable. Additionally there are other property hunters that you also have to compete against and typically something that's left out,a house nobody was willing to purchase has a good reason why.

[@Chris-sx4qw]

Sam well presented👏👏👏🔥🔥🔥.. thanks for yr awesome amazing content

[@mwathani1]

Awesome thanks man for all your help.

[@luziiluizth.8742]

Your videos are truly amazing dear friend.. I really enjoyed watching every of your videos 📸❤️ It's super amazing

[@tomevans3798]

Killing the housing market man, thanks :)

[@lea7666]

Hi Samuel, thank you for sharing this amazing strategy how to build your property portfolio. I was wondering, how do you get good contacts for companies to refurbish properties you buy and stay in your budget considering you could find great deals anywhere in the UK but have no contacts there. Do you have any video or training on this? I hope to hear from you back 🙂

[@simasjermosenka6870]

@@jondoe598 Please elaborate! We are listening.

[@Probity100]

Interesting advice Samuel thank you. I

[@AntiHeroHull]

Brilliant, I wish I had have found you earlier you break it down in such an easy way to understand. Keep doing what your doing 👏

[@leonidkhoroshko9585]

i am not too sure what are the rules in UK (i`m in Ireland) but normally lenders will not lend you any money (not for refinance, not for new mortgage, not for bridging loan) if you don`t have any "guaranteed" income from your job. If you are self employed they will ask you to show income for the last 2 years...Something you should be aware of..

[@sko1beer]

@@marklewis3023 thanks for the info so it’s close to a unsecured loan in interest rate’s

[@onekycarscanners6002]

The thing is you did not understand what he is saying, a bridge finance is just like a credit card. And you can obtain one fairly easily as far as you have the correct paper work btl Ltd company and 35% cash of the value. You are a cash buyer that's all. If you want to buy apples in a shop and you have a visa debit card that has cash in it what else do you need. So get a mortgage valuation in principle so when the property is complete you refinance at that point it's a complete different story as you are the property owner with a huge equity.

[@leonidkhoroshko9585]

@@marklewis3023 It doesn`t work for BTL either. I have a "mortgage free" property which i rent out. When i tried to refinance it and get BTL mortgage which means that new property will basically pay off that mortgage since it will be rented, they told me that i still need to have a proper job with guaranteed income or provide them with last 2 years financials if i am self employed. So its not all that simple even if you managed to get that first property.

[@dammyb3320]

@Joshthings will kind of normalise and I think he's about right. You might not necessarily make 50k interest but it's still a good way to aquire properties with OPM

[@BrandNew777]

Lol this guy talking as if getting bridge is as easy as getting a haircut! It's a dangerous game and you need proven experience

[@zakirmahroof6554]

How long before il be able to re mortgage Is that when the property gets inspected once I do it up

[@ratsliveonnoevilstar1]

This game only works when the money is cheap. It’s not anymore, we’re in an inflationary environment where the rich who haven’t leveraged like this will scarf up the mistakes of over leveraged wannabes.

[@cainey-8702]

Can you get a bridge loan with no income like some mortgages? Charge on property etc?

[@sandraCooks77]

Thanks Sam, you’re got a mountain of Knowledge there.

[@peterreid]

he is a mountain of bollox advice. he is a tossa

[@solgramps9484]

Your a genius. The only thing is you hope that in the end you can get a mortgage on the property otherwise you're screwed and stuck with paying every month the bridging company and stuck with a property you can't do anything with!

[@EgoShredder]

Not forgetting the coming banking crashes globally and UN Agenda 2030 / Great Reset and UBI credit system. Governments will just seize all homes and assets that people can no longer afford, mortgages defaulted on etc. To be honest, nobody really knows how the next few years are going to play out, but you can be sure that it will be horrific and painful. The only winners will be the top tier elites, overseeing yet another major transfer of public wealth over to them. So...................are you feeling lucky?

[@peters3724]

Due diligence

[@cynthiadanielasanchez7296]

You can sell it.. Worst case.. And you still make 50k

[@onekycarscanners6002]

@@cynthiadanielasanchez7296 may take 2yrs...depending on market conditions to sell.

[@bubaba8938]

That's why he promotes his bridging company and doesn't do the refurbishing :D

[@user-ih7gt1gf1c]

If I find myself fortunate enough to come across 50 grand am doin that thanks Samuel 👍👌

[@RajaCAthletic]

Another piece of brilliant advice. Much respect to you Sam.

[@australianpatriot]

this advice will send u to bankruptcy

[@clivebrowne5155]

You said no stamp duty on the house because of the condition? How does this work? I have brought a few houses over the years to do up and always had to pay stamp duty. Or did I just misunderstand you.

[@sko1beer]

Great video I watched it in my carplay and after 5min the sound only comes out of the right side speakers🤣👍

[@erudicity1126]

Half way through the new book 👍. Good reading so far Samuel. Encouraging journey !!!

[@billsbikes3965]

What a great community you have made Samuel. I’m 15 and trying to get as much knowledge as possible, creating plans on what I should do in the future in hope one day I can actually make them happen.

[@Selz264]

Sme here

[@australianpatriot]

you'll lose motivation when you enter real life mate

[@australianpatriot]

also you'll understand this whole thing is a sham because risk and contingencies aren't considered

[@FlyingFun.]

At 15 years old I would invest in your own skills rather than dreaming of becoming a property guru, It's a hard game and full of risk, get a skill in an area you enjoy and make money by working a job that you will actually like, THEN you will have money to invest if you want to.

[@MRTRTLBK]

Get on your grind now young man and reap the fruits of your labor in your 20s, don't listen to these wage-cucks

[@uwpartnersUK]

Its impossible as we've got trillions of property developers trying to do the same thing

[@mikecarter6774]

Interesting Indeed👏👍

[@FlyingFun.]

Rising interest rates are driving prices down most likely so getting bellow market value means a good 40% off the asking price to be safe, good luck finding that deal.

[@satvindersingh1768]

Samuel you mentioned not paying stamp duty on a property which is a cash purchase how is that, as I've seen a house I would love to buy but have told by brokers n solicitors I have to pay,I need a good broker to do a bridge please can you help

[@WickedWaynee]

I've been watching Samuel for a long time and I can't believe how much I understood this concept. He's the goat. I want to get started and do this but I'm slightly worried getting into property right now might not be a good idea, any thoughts? We are on the verge of a recession and financial collapse. I'd rather buy the dip.

[@Cbexe99]

Buy now. The dip will be in 10-15 years time after the houses fly back up. Definitely don’t wait no longer than another year. Fact

[@Moneyman44406]

Holy shit😂 man you’ve got me buzzing with this knowledge

[@lukassimek2866]

I can always learn something new from you ... Thank you, Sam. Also, it might be worth mentioning the magic with VAT if the property is empty for 2+years 😉

[@simion72]

What’s the magic, I want to know 😅

[@lukassimek2866]

@@simion72 really briefly: 1) if you refurbish a property which is 2+ years empty - without people living in... Then there is a reduced ... 5% VAT rating. 2)if you convert an office or pub etc. into a block of flats then you have a 0% VAT rating. 3)if you split a house into 2 flats - you are creating a new,,flat'' and on one of them you can use a 0% VAT rating 😃

[@alt-thinking]

This is great except when you find the mortgage interest rates are 8-10%

[@dazzadizzy5308]

Not enough likes ,this was awesome .

[@bakeiticeit]

People…pls focus on the content of this video and don’t get caught up in a thread chit chat filled with reasons why this won’t or can’t work. Samuel, pls do a video on how bridging loan actually works, you said about paying 1% interest per mth, if it takes me 6mths to refurb and get a remortgage, then I would have paid £6,900 of interest on £115,000, correct? Also, the BTL lender is giving me £150k out of £200k, I am already in a £50k deficit and would be worse off after paying the bridging loan which is now £121,900. Pls do a full video on bridging loan before my head explodes, tnx.

[@newelectim4189]

Can this be done as a first time buyer with no house at the moment?

[@Creator250]

Nice one

[@expatlifestyle6069]

Excellent information. I just not sure how to apply this information in North America

[@onekycarscanners6002]

Buy an option. The right but not the obligation. Far easier in the US/Can

[@j44skb]

Nowhere near as easy as this. Materials costs are through the roof, not to mention tradespeople availability through the floor. Granted this might change, but that's then going to be against the backdrop of higher and somewhat unpredictable interest rates and a falling market. It's one thing to catch a falling stone, another altogether to catch a meteorite. In fact, the way the market is looking, I'd call this get rich quick scheme downright dangerous.

[@j44skb]

Let's not also forget the growing prospect of a loony Labour government, in which the Haircut On A Stick has private landlords firmly in his sights.

[@onekycarscanners6002]

Get rich not quick but with just 50k 😀👍

[@ancabostinariu6550]

Great video i will save it.

[@scotttoward]

Am I missing something here 150k re-mortgage - 115k bridging loan leaves you £35k back not £50k so you could only do this once not x10

[@nickluch5536]

Hi Samuel thanks for the information i have 50k how to start. I sarted looking for property around 200k but need more information about the bridging loan

[@nickluch5536]

How to get in touch with you

[@michaelcoe6164]

How can I contact you regarding a bridge on several properties that I have lined up

[@duckthesystem8569]

What do we do tho IF we are not able to borrow money due to bad credit rating 🙈🤓🥶😎??

[@mohammedsheikh9479]

Makes sense though it's time consuming, but in the long run seems to be working.

[@Brumstar]

Amazing what this space

[@calebmall3786]

No interest on the first bridging loan?

[@BlueJDev]

great advice as always... any chance you're selling a mystery box with 40k in it?

[@ecoenergizer439]

I m not so sure after u put the 35k deposit ... to borrow 65k for purchase... then they will lend u another 50k to do the work.....please explain..... dont oversell to your audience.......

[@scotthancock4889]

In my eyes the math doesn't add up. You spend 40k of your own money and you get 65k bridge loan to buy the property and another 50k bridge loan to refurbish it for a total of a 115k loan. Once done you get 150k back by remortgaging it. After paying back the bridge loan your left with 35k which is 5k less than you started with so you can't buy a second property without making another 5k. Am I missing something cos the only way I can see it working is if you got 50k to refurb the place but managed to do it cheaper

[@clarkey203]

It is more than 50k as you need to find the deposit for the bridging which you said is £40k plus legals minimum so only leaves 10k to do the refurb

[@alexp2972]

The bridging company pays for the refurb. So the Bridging company lends you 115k (65k purchase plus 50k refurb) you put up say 40k (35k deposit plus 5k legals), then when you refinance for 150k you pay the bridging company back say 120k (115k initial loan plus 5k interest) so you walk away with 50k equity in the property, and around 30k cash, so you dont have 50k anymore to rinse and repeat. Unless I've misunderstood

[@onekycarscanners6002]

Two issues not considered here is the cost of time. It pays the bridging company but it becomes your risk. Secound) When done at higher value you still pay same 5k lawyer fees but it's not a mega % of costs. So getting through the first is key.

[@Aksamsons]

I'm assuming it's business so you have to be comfortable with risk. High risk =high rewards

[@peterreid]

assuming the refurbished property is going to make that much. he even says it himself, this is how rich people do it. see how that works for the average joe with zero collateral. if this bloke was so sure on this method then why is he creating competition for himself? ooooooh he is involved in bridging loan finance. riiiiighhht

[@alanbuckingham8788]

What if the rent for this place doesn't cover the mortgage payments, which is quite possible now that mortgage rates are >6%?

[@benholmes6826]

Your rental income needs to be 125% of your monthly mortgage payments for a BTL

[@frank638]

Would this work with investors providing the initial £50,000 for a return?

[@onekycarscanners6002]

You are the cash buyer no one else keep that in mind. No money down deals crashed the market in 2008. That's what you are asking for.

[@AdrianMcDaid]

Don't think I'll be buying any house at the moment . With interest rates going up and house prices expected to go down. Is that 2008 I hear calling.

[@Viralbizness]

How do you come up with the 50 grand In the first place tho with bad credit?

[@user-de6kh6uu2x]

How hard is it to get a bridge loan in the UK if you have the £50k?

[@GapeGang]

My right ear loved this towards the end

[@buffett1000]

Not many BTL loans out there right now!

[@mogo2495]

If the bridging loan is 65% plus 50,000 for refurb = 115,000 are you not left with 35k at the end of the cycle after you pay them back or am I missing something?

[@aleekeanderson7428]

The Bridging company loans you 65% and pays for the refurb 100%. 35k + 5k for legal fees from your 50k. House is revaluedd at 200k. Re-finance at 200k with a bank, they'll give you 75% of the new value 150k cash tax free ( because it is a loan ). Pay the bridging company back 65% = 65k + 50k refurb + 6% for 6 months refurb leaving 29k cash from the refinance + 10k cash from the begining = 39k tax free, a property that you can rent out with a 150k mortgage. Then repeat the process.

[@srinivanitharasan4308]

Hi Samuel the formula you showed us is awesome!Thank you! Hesitation is the starting point. Can bridging loan company lend you money if you are working part time? I am interested in doing this. Would u recommend a bridging loan company? 😊

[@James-bc1jk]

Don't message the number it's a con

[@onekycarscanners6002]

Do you have £50k working part-time if so yes.

[@stilu2012]

It look easy for you to say but wich bridge loan company will give you money,i tryied a couple of them and they dont give me nothing

[@zedooncadhz]

Imagine having 10 mortgages now with interest rates about to go up by 300%...

[@truth952]

That’s why you fix for 10 years

[@DaTruth1017]

Everyone can talk for hours however when putting all heard words into action, it becomes a different ball game.

[@PedroNeal1123]

Another golden nugget ...Thanks Samuel May GOD '' Yahuah '' Bless you and your family brother ...

[@PedroNeal1123]

By the way I got your new book last Friday I already read almost 300 pages hopping to finish it by this Friday coming … I will drop you a review … so far I’m enjoying it … from car crashes, boat accidents and becoming millionaire at age 23 it’s amazing !! Speak soon !

[@harminderarora4152]

Hi Samuel, I also Wana to make property under your guidance, how I can get chance to speak with you

[@jaysingh1151]

When you secure the potential BRRR, how can you assess the property ahead of putting the money down for structural problems, subsidence, foundation issues etc? All this can cost tens of thousands in hidden cost. Commonly the case with dilapidated property.... how can you mitigate this risk as best as possible, so you dont up up broke...

[@onekycarscanners6002]

You can't that's the risk, if not the bridge company do it themselves. But due diligence can get you far soo...that's why a No deal is a No deal. You must not buy any property you see, only properties you know something about.

[@peterreid]

correct. well said.

[@garysmith3036]

Dangerous advice considering the current housing and finical market

[@yahyaraje]

Challenge 1 - finding a prop £100k below the asking price of the rest of the props on the road.. Challenge 2: the surveyor agreeing to the higher valuation of £200k. Surveyors are more bothered about what you paid for it, when you paid for it and what you have done to add £100k worth of equity. A refinance down valuation is a most likely scenario

[@onekycarscanners6002]

It's not a challenge, it means no deal, go to various auctions and bid, you lazy man 😀😀😀

[@elliegrove82]

Am I not getting it or is the math not adding up? When you get a 50k + 65k Bridging Loan and the bank gives you 150k mortgage you don’t get your 50k back but only 35k, so following this principle you would need to raise 15k for each additional purchase right? Also my family works in building, electrics etc and I know building work typically takes longer and costs more than you think. It would be very difficult even for a professional site manager to be sure about the amount the refurb would cost exactly unless it’s purely cosmetic but otherwise you can always stumble upon some bad surprises. If you’re refurb would only cost say 15k more than expected you then need to raise an additional 30k for your next property?! Am I missing something here?

[@musslos8228]

For which countries are these tips suitable?

[@alanbuckingham8788]

Right now, none.

[@musslos8228]

@@alanbuckingham8788 but in general?

[@erudicity1126]

Nice 👍

[@Moneyra]

What's the best way to buy a property from a family member at below market value

[@onekycarscanners6002]

Right to buy or Property Option.

[@davem4131]

I would wait before investing in property for the time being.

[@andrewzolotar9358]

Mhmmm what's the % on briging in X.2022? It must be extremely high. With high % like now only cash buying make sense and you actually can get house cheap as peaple struggling to sell now

[@evertonianluke2364]

Thing is tho with banks now holding back with offering mortgages how would you no they’d allow you to refinance the property and if they never you’d be stook with owing the bridge loan what’s the other option sell the house ?

[@onekycarscanners6002]

Sell at 200k

[@evertonianluke2364]

@@onekycarscanners6002 and pay big tax ? Capital gains What would be the point also who’s to say you’d get 200k market can fluctuate at any given time I get it’s a gamble but if it was that easy we’d all be doing it surely?

[@AdrianMcDaid]

How many Bots are actually in this comment section Talking things up!

[@Viralbizness]

Does this work in the United States

[@AristocrateOlly]

Lets goo 💥

[@Cryptocolt]

I’ve learnt soo much from you but I still can’t find the courage to go into an estate agent and talk to them

[@onekycarscanners6002]

This has almost nothing to do with an estate agent. You are the agent 😀

[@rudra7615]

as always, you need money to make money. I wonder if there are silent investors you could reach out to do this..I'm not talking family or friends

[@Quran_Alone_Dawah]

Any advice on where to look for such rundown properties?

[@EgoShredder]

Areas that are multi culti and too dangerous to walk around for decent people.

[@nickcoppard5335]

Belfast

[@TheMateuszek19]

if bridges company give you 65,000 plus 50,000 thats 115.000 u have to give them back so from 150,000 from bank u will have 35k left, not 50k ... on every house u will loose 15k

[@yas041140]

15k of the original 50k is still there, of that 10k would go on legal fees and interest, then left with 5k unspent, so 40k left to reinvest, so losing 10k on each purchase at bare minimum. Could easily be left with lower amount yet. (10k of the 15k remaining would be spent on legal fees and interest)

[@Queen-qf2bn]

Can 1 get a bridge with bad credit

[@LTgym]

Im still looking for that 100000 euro house in Dublin, also in my homecountry land to built house in area that creates cashflow( capital or costline town) in 100000 euro on average!

[@shaheenshan3167]

WOW I’m lost for words

[@cryptochannel329]

Perfect

[@Umma2umma]

OK WHAT YOU ARE SAYING IS THE BRIDGERS WILL COVER THE WHOLE COST OF THE REFURB 50K UPFRONT AND 65% OF THE PURCHASE COST 65K YOU PUT UP LETS SAY 40K... RIGHT? THEN YOU REPEAT THE PROCESS... 10, 20 50 HOUSES IF YOU WANT?

[@peterreid]

mate, you should speak to a mortgage advisor and a financial advisor. do not listen this this bloke, he is absolutely clueless

[@Umma2umma]

@@peterreid Hello Peter, thanks for getting back to me on the one because i'm a simple numbers person but creative too and when the numbers/money and the time don't match then the alarm bells kick in. I've been out of the property trading game for years, had amazing successes with over 80 trades in property and now i'm curious to see how the systems are working in the uk. My biggest lesson in all my experience was to buy well BMV to rest is whatever drama you want to play and less always seem to be more. Where are you in all this Peter? We can chat off here also. dave

[@zedooncadhz]

So hang on, he rushed the last bit. You get a bridge loan of 65k and pay 1% a month = £650/month. So you're paying that off while you're fixing up the house. That's 4k over 6 months or 8k a year just on interest which is nuts, you better have a good plan to avoid delays and finish work on that house. You had 50k to start and can bridge 65k that leaves you with just 15k to fix up the house... That doesn't seem like enough considering you'll need to pay legal fees and a surveyor about 5k. Even with 50k and a maxed out bridge loan you'll only have 10k left to fix the house and a tight timeframe to do it. I think you'll need more like 85k to pull this off so that you can keep a load of money back for the repairs. That way you get the 65k bridge loan and pay in 35k yourself to buy the 100k house and you've kept back 50k for loan repayment, legal fees, surveyor costs and repairs. Then you have to sell the place while paying £4k every 6 months and it is not a quick process to sell a house. THEN you'll stand to make £200k -£100k initial cost -£8k bridge loan fee, -£6k legal and surveyor -£50k cost to fix house =£36k at the end of the year for 6-12 months work + a huge amount of capital risk. That's the reality - you front 85k and take on huge risk to make 36k a year per project. It's not a bad business to try get into but there's some big IFs you need to factor in. IF you can fix up the house and IF you can sell it for a good price all within about a year being the main one. Every 6 months you go over on a project will eat £4k out of your £36k profit pot. Still... Not a bad idea if you can complete 2 projects a year. The risk aspect is what would keep me up at night though

[@budzosana]

hi bro ur so so lucky ,can u pls help me buy even a cheap car or van here ,im BUDZ OSANA FR.D PHILIPPINES

[@DejiBestGB]

So we just skipped the part of "You spend £50k to get the property" to "After you've done the refurb" which you said would be £50k bringing the total to £100k...

[@rosekasozi6381]

Yeah, the volume went down,

[@JB-uh9rr]

Bridging loan company provide the cash for the refurb as part of their loan. Samuel says so at 4.55

[@DejiBestGB]

@@JB-uh9rr On paper sounds great but in reality they often require you to pay 1st then they'll reimburse you but if your money is tied up in just getting the house where are you finding the refurb money?

[@JB-uh9rr]

@@DejiBestGB Maybe try Samuel's loan company and reference this video?

[@aaron4820]

@@DejiBestGB The risk of this is pretty high, given you really have put all your eggs in one rotten basket with no real idea how rotten it truly is until the work starts, and with no clear idea when the work ends it's hard to plan for accurately, not to mention it's not exactly easy to find good builders with availabilities these days, time is going to be ticking and those interests on the loan is going to start hurting pretty soon if there's delay in the works, which I'm sure anyone who's done a renovation will tell you, things can go badly, let alone with a noose around your neck and the floor slowly sinking, and for what is suppose to be a passive income, managing a full rebuild is nothing to be underestimated in terms of work from yourself. No thanks.

[@jbtv5617]

What an investment

[@TheManyFacegod8]

Legend

[@Umma2umma]

Sam.... Yes missed out on the 50k refurb cost??? Where did your buyer get that from after spending his 50k buying the property?? Just maths that didn't stack this time... You're good at this and i respect the hustle but that was a mistake... 65k + 35k = 100k... 50k refurb but from where????

[@peterreid]

he just assumes the bridging loan will pay for it. he has absolutely no clue. really bad advice which he is not qualified to give

[@dagre1839]

You need to be cool and lucky to pull it off, but that's the way money is made.

[@ForeverMasti]

He is just a marketer selling his own things, nothing more than that.

[@kylebaxter3456]

called the brrr method

[@ninatina5942]

hey, i messaged you about coaching. no reply.

[@cozzyfromthepark]

I realy need your help I have won £50,000 online I want to get into the property market ASAP can I pay for a one to one

[@user-ot2ht6dz4o]

Can you help me to buy 10 house with 50k dollar

[@Haseebshah11]

Is there a way to do this without paying interest

[@dangrove5794]

lol

[@SAM-LDN]

I’m assuming by your name that you are Muslim ? There are Islamic banks that provide interest free loans/mortgages to Muslims.

[@marktravell6826]

So the bridging loan will loan 65% £65k. You have put 45k down and spent the rest of fees and conveyancing. Where does the £50k Come in to renovate the property? That would take the LTV over 100% LTV.

[@onekycarscanners6002]

That is another loan but from same company now that you are a home owner just like buying a t.v in your house on 💳 credit.

[@zubairskazi]

i think this stuff does work. i just don't have the experience with property though. what if i get bankrupt? what if i mess up?

[@maxk888]

What if is in all walks of life. What if you leave your house and get hit by a car? Study it right, do the free stuff( home work and research)

[@Kazi2812]

Doesn't mention how risky this approach is either. Bringing loan, then finding out the house is falling down? Save your money, find a middle ground, get something that just needs decoration work.

[@The_Situation]

Spend your while life worrying about the worst that that could happen and you'll get nowhere and do nothing. Everything in life has an element of risk associated with it.

[@EgoShredder]

@@The_Situation Yes but it has to be calculated sensible risk, not doing something that leaves you life in ruins with no hope of repairing the damage.

[@Kazi2812]

@@EgoShredder agree. Look at the UK, and the rest of the world. We're on the knife edge financially. Don't get mixed up in it with high risk, take advantage using low to medium risk methods. Absolutely nothing wrong with a standard BTL and taking your time.