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  2. I wouldn't recommend this - has the potential to go horribly wrong and once you mar your credit record it may take a long time to recover. By all means use a credit card judiciously, but better to cut your spending to save for the deposit. Paying bills on it is only putting off the time when you have to pay the debt.
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  5. The wife and I did just this when relocating, we both had excellent credit rating and were able to get interest free on purchases. We literally bartered them, then used the cash we didn’t spend as a deposit on our next home turning our previous into ctl then full btl later on. it worked for us but we were buying residential and this was our only debt (other than mortgage). I’d do it again if I had to, at the time we couldn’t sell, we’d relocated and were expecting so needed to do something.
  6. Hi @seansun Really sorry to hear about this situation you're in - it shouldn't be controversial to want to wear your mask when you're in the house. To give a proper response, we'd need to know whether you've signed a tenancy agreement with the landlord? And if so, are the conditions of ending the tenancy covered in it? If you've got a tenancy agreement it should include these details; the names of all people involved the rental price and how it’s paid information on how and when the rent will be reviewed the deposit amount and how it will be protected
  7. in my experience a number of lenders are happy to accept one months payslip along with corresponding bank statement. However, if overtime, commission or variable income is to be considered then further evidence will be needed. Good luck with your property hunt.
  8. Not at all locksmith won't be able to help you at all, you should look for some electrician for that work.
  9. We've had a question come through on Youtube this week, and I'm interested in hearing what the forum thinks. "Is it possible to pay your bills off using a credit card for few months, and using the money saved in your current account for a BTL deposit? How will lenders look at this if you manage to stay below 30 percent on credit card usage? Thanks." Would you endorse this method of saving for a deposit, or do you think it would cause more stress in the long-run?
  10. Hi Tristan I'm not personally a letting/managing agent, but I've read the content that we've written on them at Property Hub. We've written this article on how to choose the best letting agent, and I think this could work as a great checklist starting off point for you; https://propertyhub.net/how-to-choose-a-letting-agent/ I'd pay close attention to the 'Finding a Good Letting Agent' section in particular. Mark
  11. Hi there Paula! Great to have you on the forum Glad that you're excited at the prospect of taking the dive into property investment! Being at the start of your journey can definitely be a little daunting, as you say, but hopefully all the info we've got at Property Hub (as well as the forum community) will make it much less overwhelming for you! With that in mind, have you had a look through our free University Courses? They're designed to educate you on all things investment, and one of the best ones to do at the start of your journey is 'Which Property Investment Strategy is Best
  12. Its a tough one. You need to be thinking ahead to the next, remortgage supposing you want to release some equity from the property, so look at whether then rent you have now will enable you to release the money you will want to at the end of the term. I have had tenants move before because the rent went up (remember there are no tenancy fees now so tenants are more mobile). At the same time you are running a business and therefore need to make money. Try and balance these factors if you can. I go for small rises every 2 years possibly a bigger one in the last year to meet the prospective
  13. My landlord couple doesn't allow me to wear mask indoor. The landlord wife says "If you wear mask indoor for the third time, get out. I will give you 3 days' time." ( I assume she was talking about notice period for eviction). I think she threatened me for eviction. But I still want to continue to wear mask to protect myself and others. She says I protect myself too much and I am selfish. She says "If someone else sees me wearing mask, they would think I have a problem and be scared of me. It would affect other tenants." In fact, the third day I was in the shared flat, the husband landlord sai
  14. Hi, are there any solicitors on here who could give some advice on going down the litigation route in order to get a deposit returned from a off plan development that I pulled out of after the long stop date. Or has anyone been in this situation? It for a city centre development in Liverpool with a hotel group/developers. I pulled out after the long stop date in May last year and I’m still owed the balance of the deposit that was not in a stakeholder account. I have tried everything I can to negotiate with them but they don’t respond through their solicitors. It’s £9k so not a m
  15. Interesting Noel, I'll check that out. Paula
  16. Hi there, ny name is Paula. Thanks for having me. I'm based in N. Ireland and currently renting with my partner. We have been saving up for years now and are hoping to move into the market in the next 12-24 months. It's a very exciting and slightly daunting prospect. Looking forward to learning and picking up some advice in here. Paula
  17. Working in property in London these are my observations: - Expensive flats that are on noisy main roads are difficult to let, not suprising seeing the people that can afford to rent them would be working from home. An example is a two bed, two bath flat that has been on the market since September, the rent has dropped by £600pcm to £2000. -Very small flats are difficult to find tenants for. Not surprising! -Hardly anyone seems to be trying to buy in east London, although a good number of renters are wanting to move (but my work doesn't give me the whole picture so I could be wro
  18. Im looking to set up a new sister company, however i am also looking longer term to build a portfolio within property which i can hand down to my children when i retire, ive heard the term freezer share, could someone shed some light with knowledge before i go and research further ?, this would be both under eighteen and over currently. of course ear are all open to any other suggestion, i feel if i started as a single director of a limited company after say ten or twenty years then decide i want to retire my children would no way be able to afford into the business. Look forward to
  19. My experience is also that 3-6months will be requested. If its a basic salary increase the lenders should happily accept your new salary as the new base point as this will be the income which applies moving forward. You could forward some documents confirming your pay increase with the payslips.
  20. It's very common to buy properties with sitting tenants. These days, such properties sell at a premium as there are so many investors out there You will inherit the AST from the old landlord. You should read over the AST, as that is what governs your tenancy. Your solicitor will check if they are up to date with payments. You will get the deposit transferred to you. If they don't do that, then you make a complaint to the dps or tds The gas and electric safety checks are not dependent on the tenant, but are dependent on the property. You should keep these up to date anyway
  21. Everybody thinks 'they have missed the boat.' You need to get beyond that thought and start investing People will always need somewhere to live
  22. the only thing I would say is personally I wouldnt invest in these areas as i feel the quality of tenants won't be high. however that's my opinion and I like to be proven wrong. You can generally tell what type of tenants you will attract by whats in the local area, in terms of employment. feel free to give me a call 07860533602
  23. The whole lockdown thing as driven people a bit crazy so many have or are looking to move. For example 3 of my tenants have bought houses. The good news is that I have found rental demand has been higher. So if you are investing in a location with the fundamentals I would expect there to be continued demand. The 5% deposit scheme will generate some new demand which will inevitable lead to pushing prices up. So if you are in the market early this could be a positive.
  24. Mortgage broking isnt an exact science. Had an issue recently with Barclays, a whole string of unusal credit related declines, got the credit reports which were sparse but clean, and simply went to NatWest. Approved straight away. Glad you got the result you wanted.
  25. Thank for your answer! After having had a look, I am now focusing on Barking area as it is not far from where I currently live and I have seen it changing within a few years. It seems to have a lot of regeneration going on, a lot of money injected in.
  26. Hello All, I have a property where it’s rented way below the market value. Now rightly or wrongly I am the type that would rather be below the market value and keep good tenants but when I say below market value I mean massively below. Last year I didn’t verbally mention that there’s a potential price increase this year and they seemed fine with it. Furthermore the rental agreement is due for renewal so I feel now would be an appropriate time for the increase. Just wondering what’s everyone’s approach and procedure of increasing the monthly rent? Any views and advi
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