Farewell NMD, Hello NMLI
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Some interesting responses to the No Money Down (NMD) blog I did a week or so ago, including one from Simon Zutshi, whose report on the state of buy-to-let kicked it all off.
I ended my musings by noting that there was, as yet, no sign of his new mortgage strategy. Well now there is, in the form of a video presentation announcing the way forward…
NMD, it seems, is last year’s squeeze. Now everyone is making eyes at NMLI – No Money Left In.
Click pic to open
Say what?
It works like this.
- Buy a property at 25 per cent Below Market Value (BMV). Eg: For £75,000. You buy using usual deposit.
- Use a lender (apparently there is one) who does a ‘further advance’ of up to 75 per cent of a property’s value.
- Do an instant further advance based on the full value of the property and you get your deposit back
The presentation offers various other ways to proceed, and it’s all interesting stuff. But the strategies are based on being certain that you’ve bought at BMV – which is, of course, easy to say but hard to do.
To me it all looks a bit like a nerve shredding, financial high-wire act. But then I’m fairly risk averse. I won’t even have a credit card.
You may be made of sterner stuff. Check it out and let me know what you think…


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This blogging malarkey appears to have triggered an unexpected impulse within my synaptic gap, namely the constant need to reference the deity of property putdowns that is Kevin McCloud.
I read with some interest that
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