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  3. Thank you, Dino. It was the Robs podcast on one beds that made me think about this option. The flat is in Somerset. Three minutes walk to the centre of town and five minutes drive to get on to the M5. Really good point about the service charge. The block is a combination of a redeveloped pub and some new build on the back. Completed approx 10 to 15 years ago, so good nick at the moment, but an area to keep an eye on.
  4. real uk

    Inspection process

    Hello, I'm an overseas investment who intend visit the UK in the near future in order to purchase a flat for a BTL. I'll probably use EA in order to view some properties and I'm just curios how the process should work, once I found one and want to give an offer, but I do want to have it inspected before. Should I reserve the flat first? What if the inspection find major rejects and I want to back off? Is it different in case the flat is tenanted? Thanks in advance
  5. Yesterday
  6. The Robs did a podcast last year where they critiqued some deals and there were flats in that. They made the comment that rent for one bed flats isn't much less than for two beds, but they are usually cheaper to buy. Thoughts on this one - you're not going to make a fortune, but it's a net yield of about 9% before tax, assuming you use a letting agent. Obviously no idea where this even is in the country, but what sort of renters will it attract? You're obviously thinking a young person or couple, but are there the fundamentals they'll want locally - bars, cafes, etc? Alternatively, would it suit an older, couple/person and if so, has it got what they want? Finally, service charge is low, which is great, but is it enough to keep the block in a good state of repair? If the building or communal areas start to look tatty, you may struggle to rent
  7. Thanks for the reply, you've nearly summed up - and added far more detail - to the way I've been thinking. My pension is final salary, so hopefully I'll be in a position to be able to have the option of taking out a small-ish mortgage and then I'll have to make a final decision. Much to think about! Thanks again.
  8. Hi, Has anyone heard or dealt with "HMO Investment Properties": hmoinvestmentproperties.co.uk ? They posted 89 adds on https://www.gumtree.com/sellerads/1315312022?page=1 today for HMO investments. Thanks.
  9. Be aware of the tax implications of the rent, as you'll probably be paying tax on it, depending on other income. Then do you want to be a landlord, or maybe just an investor and use a letting agent? Latter is easier, but you're going to lose 10-12%. If you're going for it, then there's a few things to consider. Using your lump sum is definitely the cheapest option, however, do you have other savings available if something goes wrong at home? If not, you might not want to tie everything up in something as illiquid as property. If you want a mortgage, you need to speak to a broker, as your income is low and you already have a mortgage, although if the pension is final salary or annuity, that probably won't matter. Then consider the opportunity cost of tying the money up. Considering interest rates, it's difficult to find anything else that's not more risky (shares, P2P etc) that offers even inflation matching, so a return of around 7% after costs and before tax, is pretty good. If you get the bug and wanted to buy another, you've always got the option to remortgage down the line to pull some of the money back out. So I guess it all comes down to risk and return - do you want to risk and tie up all your pension lump sum or do you want to risk it in other investments that are more liquid? A mortgage may be the sweet spot in that, even though there are associated costs
  10. lewisrolfe

    Introducing myself

    Hi Guys, My name is Lewis, 26 years old from Hertfordshire. Although I own my own house, I do not yet have a passive income from property. Something I would like to change. Initially, I am looking to invest locally in the south-east however I am not objected to investing further afield when the time becomes right and I have become comfortable with what I am doing. I have been very interested in my own personal development since around the age of 23 which spiked my interest in the property market and the dream of financial freedom. I would appreciate any pointers and advice that you may be able to give me. I would also appreciate pointers in terms of Workshops, Seminars etc. which may help me on my journey. I look forward to hearing from you all! Lewis
  11. bridging expert

    Commercial shop with flat above

    Hi Nick Is the flat over under separate title from the commercial area or are they under the same title? Regards Steve
  12. edith villas

    Flips

    Hi, Could someone possibly send me on the spreadsheet at edithvillas@outlook.com Thank you in advance. Nadia
  13. Hi Guys A quick question on how I claim tax relief on the replacement of domestic goods/appliances. I'm replacing a few items currently in one of my btl's (cooker, kitchen unit doors, bath tub, toilet, sink). They will all be pretty much like for like replacements. What records/details do I need to keep at this stage? I want to ensure I have everything, for when the time comes to sit down with my accountant and do my taxes. Thanks Bhavin
  14. james batchelor

    Lunch anyone?

    Hi All, Another newbie joins! I'm James, and I live on the South Coast near Brighton (sounds like I'm introducing myself at some self help group!). I will shortly be coming into some capital and would like this money to work for me so looking at Property Investment as a way to achieve this. The plan is to spend the next 5 years building a portfolio to replace my income, so I am seeing if their are any investors that live near Brighton that would like a free lunch in return for their advice! What can I offer the group? I have run a successful Outsourced IT business for the last 14 years, so if anyone needs any IT and/or security advice, feel free to contact me. Thanks James
  15. Hi , Ive just made my first commerical property purchase. The tenants in the property have been there 15 years and although there are 5 yearly rent reviews the previous landlord did not use them. I would like to know what is my rights. Does the previous landlord not using the rent reviews give me a upper hand to raise the rent ?
  16. Hi all. Need some clarity on tax with regards to second home. If I was to change my second home/Holiday home to a BTL or holiday let via a new mortgage would I have to pay the extra 3% surcharge? I purchased the property in 2014 prior to the introduction of the SDLT surcharge. Also can anyone advise on a separate query if I wanted to raise money to refurb - is it better to use fundingcircle or look at mortgages products for the extra borrowing? Thanks all , appreciate any help. Ady
  17. Thank for creating this thread Abby! For anyone interested, and not local enough to an official meet-up, then even if you're only available to make the occasional trip to Alwalton (nr. P'boro), then it would be great to meet and see you all! We've had people attending from various areas of East Anglia, as well as others from Bedfordshire, Lincolnshire and Northamptonshire and have a varied mix of experience with everyone having their own story of how they're interested in a property 'journey'. Chris
  18. tom878878

    selling my flat 10 weeks ....

    Hi derek Thanks for your replies and advice with my post. I think we are looking at a pre brexit market which clearly has a lot of potential buyers sitting down . we will see post brexit and see if things change . The flat i’m confident will sell - has everything and area is lovely . we will have to see - i think it has a 5% yield for investor type buyers . Is there something i can do to reach these people bar what’s happening already ? Tom
  19. richard brown

    Trying to sell flat

    Hi Tom This looks a little odd to me, especially when you consider one of your neighbour's sold theirs through the same agent for £225k in Dec 17: https://www.onthemarket.com/details/3992384/ The number of people booking a viewing after seeing the property suggests there is something amiss in the listing and the only real thing that strikes me is that the bedroom looks small in one of the photos, so maybe change that one before simply dropping the price. The other possible explanation is the excuse for everything right now...Brexit! This might simply mean the timing is wrong as people wait to see what happens, so again simply dropping the price may not fix this concern. It looks like you have a baby, if so...congratulations! Equally, perhaps have new photos minus the baby gear in shot, which clearly takes up space and may put off that budding single or young couple...possibly. Good luck! Richard
  20. Hello all. I wanted to know if anybody could help. We are looking to buy a new house next year but are unsure if we would be liable for the additional 3% Tax. In most cases this is quite straight forward but our situation is a little unusual. - We own a few UK properties and one in China, one of the UK properties we lived in as our main residence up until around a year and a half ago when we let out the property and moved to China. - We are now planning to move back to the UK where we would rent a property in a new area. We then hope to buy in this new area and sell the property that was once our main residence but would have been let out for 2-3 years prior to sale. As such would selling this house we hadn’t lived in for several years count as selling our main residence and exempt us from the additional tax? Many thanks for any assistance. Jason
  21. Last week
  22. alan riddoch

    Liverpool - Landlord License

    Thanks Neil, Decided to go down the RLA route. I also got a discounted membership through Property Tribes of around 55 pounds for year one. Cheers Alan
  23. A full survey should identify asbestos concerns, but with a disclaimer, I expect. We got close to buying a lovely old Somerset cottage about ten years ago. Had a full survey done and learned that all the upstairs ceilings were asbestos boards. The survey cost £500 to £600 but it was money very well spent. We walked away from the deal. In short, choose your surveyor carefully and check what they will and won't include in their survey. Good luck!
  24. debi beaumont

    How do you get a flat fire risk assessed?

    Thanks very much Ian. I’ll certainly give that a go.
  25. DerekT

    selling my flat 10 weeks ....

    Not sure, sorry. Looking on Rightmove and there's quite a few on sale within a 1/2mi distance from yours, but not an overwhelming number showing as "Sold STC / Under offer". Might just be a lull in your market or oversaturation of sellers trying to get out at the same time as you. Is there a reason for the sale or can you rent it back out if you can't sell it?
  26. DerekT

    Buying property to live in under LTD.

    It's very unlikely that your mortgage provider, if your limited co purchases the property, will allow you as the director, or anyone related to you (spouse / family) to occupy it. It's usually one of the first conditions of the mortgage offer. Check with your broker.
  27. jo_anna

    start as mortgage adviser

    Thank you for reply Dave and Lilla, I've sent to both of you private message. Kind regards, Joanna
  28. neil finlay

    Liverpool - Landlord License

    Hi Alan, Yep RLA membership circa £75 gets your LCC License down from £400 to £200 - RLA also have an offer on at the moment offering 50% off their membership fee!! Obviously with the above figures joining RLA is a no brainer - but all the other benefits from the RLA i have found really useful, PEARL research, newsletters, publication and all sorts of discounts on other memberships & offerings. All the best Neil
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