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  2. We've used an online/phone broker previously and it was absolutely fine. For our last purchase, we used the broker in the estate agent, as they matched the price of the other broker and had the same deals available. That too went ok, however, the broker left the company part way through the process, so guessing that relationship is going nowhere...
  3. Today
  4. challisj

    Nottingham - Selective Licensing

    Hi Phil Selective licensing covers most of Nottingham City with the exception (roughly) of Aspley, Broxtowe and Clifton. It is a mixed blessing since in areas with licensing landlords are selling and in others they are holding. All depends upon your strategy really. Further info on licensing and a useful postcode checker can be found here: https://www.nottinghamcity.gov.uk/housing/landlords-guide-to-licensing-your-rented-properties/selective-licensing/ Send me a PM if I or any of the Nottingham Network can help further?
  5. Hi I am looking to buy a property, need advice on which area of Birmingham i should consider and is there anyone who can help source a property. This would be my first foray in to this kind of venture. thanks Satnam
  6. Hi Anna, Depending on the make up of the company, there are lenders who would consider this. Drop me a message if you’d like me to look into this for you. Aston
  7. Hey Hubbers, What are your thoughts on seeing a broker in person compared to one online - Having found various sites out there during my research? I'm teetering on the edge of jumping in and getting started and will obviously need the advice of a broker to see what's do-able. Do you think it's best to go see one face to face, or is the online market just as good these days as I'm guessing any good independent broker will have access to the products that are out there where ever they are. I must admit I would prefer "seeing" someone as over time you'll get to know each other and build that network, but then that may mean I'll miss out on better online offers which could be cheaper? Like I say still a nervous-newbie here, and feel I may just have answered my own question, but any advice from those further down the path would be great Thanks in advance PAUL
  8. Hi, I am looking at a property which would be sold with a tenant in situe. The selling agent is also the managing agent of the current tenancy. Although I am not against the idea of keeping them as letting agent should I purchase the property they have been very forceful in pushing this on me before showing me the property. As a new owner I feel that I would have no obligation towards them and could choose any letting agent as I am not the one who signed a contract with them. Does anyone have any experience of similar situations and am I correct in my thinking or do they have legal rights ?
  9. DerekT

    ROI calculation

    I kind of view cost of voids at the backend of the calcs, given that they're not guaranteed compared to the other expenses. This will depend on the area, demand, managing agent. The maintenance one covers annual certificates etc and squirrelling funds away in case the boiler breaks. Once all the knowns are done, then I look at the estimated annual profit and see if it can cover 2-3 months of no rent. If it does, then happy days. There's a field for insurance in there, just that you didn't specify the cost of it. I tend to use £200-300 as an estimate if it's a house, depending on rebuild value. If it's a flat then the service charge you pay generally covers the building insurance, then it's up to you if you want extra. Yes, you'll still be subject to 3% if under £125k and through a limited company.
  10. jstsvd123

    ROI calculation

    Thanks Dino, I haven't picked the stamp duty thing whilst researching. Would 3% still apply for properties under 125k as well? The numbers are a bit high, but as you mentioned, I wouldn't feel too confident going lower than that.
  11. Yesterday
  12. Hi Guys, I posted early/mid last year suggesting that I could view properties for expat investors and investors down South, and since that post have received a constant stream of clients, so much that I have a website now. www.propertyviewernorthwest.com/ Anyone interested just get in touch. Thanks, Neil
  13. Hi Guys, I posted early/mid last year suggesting that I could view properties for expat investors and investors down South, and since that post have received a constant stream of clients, so much that I have a website now. https://www.propertyviewernorthwest.com/ Anyone interested just get in touch. Thanks, Neil
  14. n holman

    Help with buying my first single let

    Hi Matt, I am originally from Liverpool but live in North Manchester and know both city’s well, Liverpool more so. I know you didn’t specifically say where about up North you where looking but if it’s in Liverpool I can certainly give you a bit of guidance, in to the areas you should be looking at in my opinion for free. If it somewhere else if you go to the ‘Location Specific,’ tab in the main list and post on there as I and am sure other people are only to happy to pass there thoughts on of the specific area... thanks Neil
  15. caroline jones

    Any advice for a good roofer?

    Whereabouts in the country are you, Mikhail? I have a brilliant roofer, but I'm guessing you're probably not anywhere near the north coast of Scotland
  16. dino v

    ROI calculation

    If you buy through a limited company, you will have to pay the additional 3% SDLT. Your management and repairs allowance seems quite high, as does the annual void if it's a decent property. That said, the numbers should be whatever you're comfortable with and as long as you generally use the same for all properties, you can still compare. If those are your numbers, it's not worth pursuing unless you'd expect great capital growth. The service charges are always the killer for flats, especially as you're still paying them whilst it's empty.
  17. caroline jones

    Relocating soon to London, mortgage feasibility?

    Happy hunting I used to go through Battersea on my way to work every day (before I moved to the opposite end of the country!) - it's a nice place.
  18. nick lane

    WhatsApp Group (burnley/Blackpool)

    Hi Phil i’d be happy to be part of a WhatsApp group for this area if one is set up. I’m from Blackpool way. Got 1 BTL at the moment but looking to purchase another this summer (after Brexit deal/ no deal situation is concluded). thanks Nick
  19. jstsvd123

    ROI calculation

    Hi Derek, Thanks for the numbers. I amended one formula in the spreadsheet and I do get the same numbers as you do. You haven't included any void weeks and insurance into the sheet, is this something you personally do not consider? Also, I believe for my first purchase, I will not have to pay duty stamp? Thanks again! Very helpful
  20. We have not standard situation and neer a mortgage broker advice. We were told that the limited company with a director and separate shareholder wont be able to get mortgage.
  21. I have spoke to both, my bank couldn't help and the broker I spoke to said I needed a specialist.
  22. Thanks for your help, Caroline. I contacted one of the lenders mentioned in the article and found someone who would be willing to work with me!
  23. Hi everyone, We're a friendly bunch of people who are passionate about property and meet up on the first Thursday of every month to have an informal chat, from BTLs to land purchases. If anyone is interested in joining us, we meet at The Cuckoo, Alwalton (just outside of Peterborough) and our next meeting will be Thursday 7th March. Space is limited so please sign up using this link to confirm your place: https://www.eventbrite.co.uk/e/the-property-meet-up-tickets-56624494387 We have also started a Facebook group to continue the discussion: https://www.facebook.com/groups/2295980247306068/ We look forward to meeting some of you! Abby
  24. Salv

    Ensuites in HMO's

    Yes - I agree, I think that I just needed to hear it from someone else. Thanks
  25. Hello everyone, Am I obliged to hand over reports and surveys to the new owner of a property? We got Prior Approval for change of use under the permitted development regulations, to convert a small, run-down commercial site into residential, and then sold it via auction recently. We assume the new owners will want to submit a full planning application to knock the current buildings down and develop flats from scratch. As part of the PD process we paid for various plans, surveys, reports etc. My question is: which, if any, of these plans, surveys etc are we obliged to hand over to the new owners? Or are we entitled to negotiate a fair price with them for any they want? This is my parents’ retirement money so if we can recoup some of the thousands we paid then I feel we should. Many of the reports were submitted to the council as part of the PD application and the council published them on their website along with our application form, their decision notice etc. Are there specific documents which have to be publicly available? I can’t find a list or details anywhere. I’ve emailed the council to ask them to remove any non-essential ones, no reply yet. The entry in the auction catalogue only referred to Prior Approval being granted, not to any specific reports etc, so I assume there’s no issue there. The buyer would have been sent the legal pack (contract etc) when registering interest before the auction so I assume that would’ve included everything which was legally required at that point. Thanks for your help! Lee
  26. haf1963

    Ensuites in HMO's

    there are space savig designs including sinks that sit above the toilet so worth investigating as i suspect you ar ebetter off having even a cramped on-suite with a toilet than without
  27. Hi I am in the process of buying a house that needs some work. I will get electrics and boiler fitted by qualified tradesmen but most of the other stuff I will do myself - new kitchen/bathroom/decorating (nothing structural). An insurer is quoting for the place to be empty for 3 months whilst being refurbed. However, they have said that I need to take out a £1M public liability policy as I will be doing some of the work myself - they also don't offer this and say I need to get it from another insurer. To me this work is no more than any competent DIYer would be doing but I don't know of anyone who takes out Public Liability when they do their own work. Searching online the nearest I can find is self-build insurance but that seems overkill and the policy with the insurer covers the buildings aspect anyway. Has anyone else come across this or have any advice? Thanks in advance Rob
  28. Hi all, Loving the site and forum so far. I'm looking to go for my first BTL and before I act, trying to soak up as much information as I can. I understand the need for good goal setting and analysis of a potential investment, but am trying to avoid recreating the wheel in terms of physical spreadsheets. Can anybody recommend any good, free or paid for, ROI/Yield excel spreadsheet calculators? I have downloaded and adapted the simple one from PropertyHub. Edit: I have tried to search the forums, however I don't think my terminology is correct. Thanks in advance.
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