Lisa Best, a homeowner since 23, shares her financial journey. Inspired by property investment post-university, the 42-year-old, from Manchester, built a £750,000 portfolio.
Despite success, Lisa faced a mortgage denial due to Japanese knotweed on nearby properties. In her words to What’sTheJam.co.uk, “I renovated a property [a few years ago], and there was evidence of the plant in the surrounding alleyways, which wasn’t picked up when I initially bought it.”
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Lisa’s mortgage saga unfolded when seeking a re-mortgage, encountering hurdles due to Japanese knotweed within seven meters of her property. She recalls the anxiety, thinking about potential property sale challenges.
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Lisa swiftly addressed the issue, hiring a specialist for treatment and providing certification to her mortgage lender, securing approval. She emphasizes that a mortgage refusal isn’t a “game over” scenario, sharing her experience as an investor and highlighting the potential stress for a first-time buyer.
UK law permits Japanese knotweed on a property if declared, but exceeding seven meters may lead to legal consequences.
Lisa, the founder of Moving House Support And Information | Propertyable, reflects on her property journey, influenced by her father’s regret of not investing in property earlier. At 42, she aimed for an easier life for her future kids, buying her first home with excitement.
With a saved £5,000, she purchased a £79,000 house, later selling it for £104,000 after cost-effective DIY renovations. Lisa acknowledges her initial naivety regarding hidden costs but shares her insights and experiences on TikTok (@nwpropertymum).
Lisa shares her strategic approach, working backward from her goal to determine savings needs. Opting for a property slightly out of her desired area, she kept savings separate, reassessed spending habits, eliminating shop-bought coffee and meal deals, sticking to packed lunches.
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With this disciplined approach, she expanded her portfolio, acquiring and renovating eight more properties. Lisa retains four for rental income, showcasing her success in property investment.
