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Finding Capital for Property Development/Investment

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  • Finding Capital for Property Development/Investment

    I'm interested in going into property developing but am unsure about financing it. I earn £21000 a year and have a good credit rating. As far as my research tells me, I can get a mortgage for a maximum of 90% of the value of the property but I've no idea how to borrow the cost of doing the place up (say £40000 ish) as it's hard to find a lender who will lend more than £25000 to anyone who is not a homeowner. I have no savings or assets and noone willing to lend me the money. I also don't want a buy to let mortgage, as I want to sell on. Any ideas? thanks

  • #2
    Re: Finding Capital for Property Development/Investment

    If you're looking to buy a property under any circumstances, you really need savings to cover the deposit.

    If you were property developing, you would also need cash to pay for this as well.

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