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Wickermran

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About Wickermran

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  1. I would also add I had a mortgage with GMAC (self cert BS mortgage for a resi - on interest only!) that I was only too glad to get rid of. Awful to deal with.
  2. You mentioned that GE no longer offer interest only mortgages, however this will be for new business. Yours is an existing mortage so would expect the lender to explore all options, including (as mentioned before) Interest Only or capitalizing arrears. This is regardless of their new lending criteria - they should look to these before reposession. I would take up the offer of letter writing from ell-eln to see if that helps (I write excellent letters (IMO!) but have limited experience of avoiding repo with an uncooperative lender.
  3. It all depends on what your contract says. Personally I would avoid like the plague any agent that takes its commission in advance - this gives them absolutely no incentive to collect rent for the next 18 months. My own agency (student and family lettings in Liverpool) as well as most other agencies take it month by month. Personally I would find another agency!
  4. Good luck with the course. I did them a few years back (2004, when they were still branded as Russ Whitney) and while they were generally overpriced and in my opinion slightly dubious value for money given the depth of the content, they did get my into property investing. I have since purchased about 20 properties (hanging onto 15 or so with about 5k a month cashflow) and run a letting agency while still buying property - without this I would not have gotten started. Whatever you do check out other forums such as singing pig and landlordzone, as the detail and depth of knowledge on th
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