⭕ How Can I Buy a House Without a Mortgage?

Hello and welcome to Property Investments
UK. We have a client question today regarding how to finance property purchases for buy-to-let
particularly when they’re 55 years old. The question is, at 55 years old, I’m probably
a bit late for mortgages, what is the best way to raise finance to buy properties for
buy-to-let? When it comes to to buying a buy-to-let property,
you’ll need to fund it in a someway, shape or form. Whether that’s a mortgage, buying
it with cash or working with a joint venture partner. You will need to fund it in someway.
By being 55 years or in your 50s or even 60s, does present some difficulties when raising
finance. We aren’t mortgage brokers, we can’t give direct advice in terms of how it’s best
suited for you. I recommend speaking to a mortgage broker and you might be pleasantly
surprised. There might be some options out there for you that are suitable for your situation
that would allow you to raise a mortgage on purchasing a buy-to-let property. Alternatively, if you are looking to grow
a property portfolio, but you’re not in a position to raise mortgage finance, then I
would consider some of the other alternative options on getting started with property or
building a property portfolio that don’t rely on mortgage finance. Now some of those particular strategies would
be related around cash-flowing strategies. Instead of using mortgage finance to buy the
property, what you need to do first or initially would be to build a up a pot of funds to allow
you to buy those properties with cash. Or maybe you do have mortgage products available
but you need to put in more deposit. Using cash-flow strategy initially, instead of just going
straight into buy-to-let strategy may be one option. Below this video, we’re putting some links
to some of the cash-flow strategies that may help you achieve this. Another alternative strategy is using something
called joint ventures. This is where you can raise finance to buy a property or build a
property portfolio that won’t be relying on mortgage finance. This gives you more flexibility
because it doesn’t matter about what age you are or what experience you have. It’s just
simply a case of working with an outside or an alternate source of finance, an invester
partner, to fund and to buy those properties. Again, we’ll link below this video to some
of those strategies like joint ventures. You can have a look at those a bit more depth
and see if it’s for you. Alternatively, maybe consider other type of
strategies instead of building a buy-to-let portfolio. Maybe you maybe have one deposit
pot and over a period of time that might get left in different properties when you’re
buying a number of properties to build up a portfolio. Maybe alternative strategies
like buying, refurbishing and then selling that property on. Flipping properties will
allow you to build a better income stream. It might achieve the same results for you.
You might not need to build a portfolio. What I probably recommend is, it’s not all
lost certainly just because you are 55 years of age or mid 50s, mid 60s, whatever it might
be, there are options that you can use to either raise finance or to get started and
build a property portfolio that don’t rely on mortgages. I hope that helps have a look at some the alternative links
and the different strategies and see if any of those are suitable for you. The best. Thank you for watching this video. If you like this content and you’f like to join our free online property training course we’ve got a link for it on this page In there we cover a range of of different property stategies to help you get started either long term property portfolio or creating a cash flowing property business. We also look at ways to increase your return on investment with any new property you might be considering and we also have a couple of cheat sheets and downloadable documents in there as well Simply click on the link to access the free training course today.

4 thoughts on “⭕ How Can I Buy a House Without a Mortgage?

  • I wana buy a house but I don't know how to buy could u tel me plz I need ur help Nd I domt have that much money plz I need ur help sir plz thanks

  • Hi I'm 35 live in London married joint income of over 70'000 a year , rent privately and in a small but big enough for me amount of dept so no way of saving any money , literally no money saved at all, would be a first time buyer so could get help from the government and want to buy a house from plan to sell on and make money to pay for my own home, can you give me any advice please.
    Also I'm a builder tradesman in many trades so if possible would love to buy a shell and do the house my self.

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