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About challisj

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  1. Anyone made enquiries about this new "beta service". Seems too good to be true since little or no costs that I can see listed. Free listings on Rightmove and Zoopla are rarely free IMHO. https://mashroom.com/landlord Thoughts and insight welcome please. Jonathan
  2. I run a networking group for Nottingham investors in case that is of interest. Along the lines of the old PH Meetups but virtual for now. Search on Eventbrite for Nottingham Property Circle and you should find our events (2nd Thursday of the month). There are lots of fellow investors and experience out there who are happy to share and learn together. Please send me a PM if you think I can help further. Regards Jonathan
  3. Try my dedicated BTL Mortgage broker that services all of my Nottingham investors and supports our Nottingham WhatsApp group: Mandy Waby, Veracity Financial Planning on 07860 274357 https://www.veracityfp.co.uk/buy-to-let/mandy-waby She has been very helpful to me and my contacts over the years and provides a full "To Completion" service.
  4. I can only echo the issues with high street banks taking forever and requiring lots of bureaucracy. I can highly recommend Starling since unlike Tide there are no transaction charges. I object to having to pay for every credit/debit however small the fee. Consider applying for more than one and see which you find works best for you? You can always close later. Lots of change of course so you need to keep an eye on the evolving banking conditions.
  5. I would suggest looking at one of the up and coming suburbs slightly further out from the centre where there is still potential for growth. Areas with strong fundamentals including schools and transport links to make the other benefits of Nottingham easily available. So follow the tram line and bus routes as well as the major road arteries. How about looking in NG5 or NG6 with good access to tram and buses? Hope this get you thinking - there is so much variety and opportunity in Nottingham! Jonathan
  6. I can highly recommend Starling Business (and personal) current accounts. The mobile app is really easy to use and supports most tasks you will need, but it is also easy to logon using a laptop and access from there. And no fees so great if you have a period where you aren't using it for much. The personal current account pays interest and once I had opened the personal, then opening a business was very smooth (the recommended way to build the relationship and ease the journey apparently).
  7. I run a WhatsApp group for investors interested in Nottingham and surroundings. We have a lot of experience in the group so can help each other out. If you come to our meetup (online and this Thursday as it happens) then you will find out more (details below)! Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  8. All sounds very strange a makes one wonder about their trust worthiness in general. Be aware that Modern Method of Auction has the concept of a £5K+VAT reservation fee which is additional to the agreed hammer price. It is not returnable and is a fee for buying essentially. Auction deposits are normally 10% of the final bid so please ensure you are aware of what kind of auction you are operating in. They might be giving you a way out from paying a lot of fees that might make your deal look unattractive? Do come back to us to let us know what actually is going on if you get to the bottom of it please.
  9. Just to support previous replies it really depends on when the work was done. If more than 10-15 years ago then planning departments are much less likely to start investigating. Also if done many years ago it can be argued that no additional regulations were required and so none were sort. It is nice to see that some agents at least do advertise these properly. So many in Nottingham would list it as 3 bedrooms even though there are no building regulation certificates are available for the work. I am not sure about a retrospective compliance certificate but if you are concerned you could ask the vendor to put in place an appropriate indemnity insurance to cover the works and any future troubles around them. Worth also noting that if a mortgage lender (the valuer) decides it is not a bedroom then they may downvalue to a 2 bed only valuation. Hope this helps.
  10. Hi there. I source (and live in Nottingham) having my own portfolio and managing properties on behalf of others. Sounds like you have come a long way with your research. Advice on financial structures and mortgages really needs to come from a specialist tax accountant and a BTL mortgage broker (I can recommend a few Nottingham based people) but if you want to discuss Nottingham and the variety of BTL choices it provides please do get in touch. The first task is to narrow it down to a few postcodes otherwise Nottingham options can be a bit overwhelming. Like Liverpool streets and areas can vary markedly, sometimes even just as you turn the corner from one street to another. Look forward to hearing from people interested in Nottingham if you think a conversation would support your journey. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  11. Hi Tom Thanks for laying out your structure. It all sounds sensible and achievable and amazingly long term. As Andrew has said be prepared for your ideas to change as you learn more and get experience. (After all we learn from experience don't we?!) In your initial research it might help to chose a specific city since otherwise you might find you are lost in research into the ups and downs, strengths and weaknesses of multiple cities. The choice may well be a little arbitary initially but making a choice might help refine your plans. I myself invest in Nottingham but then I chose to live there very consciously so that choice has informed my investment strategy as well. Do keep us informed as your plans develop perhaps or get in touch directly?
  12. As always the challenge is in the fundamentals and predicting the future appeal. As our lives and society changes that may well change (consider how people have moved from flats to houses and back again over the years). I would just add that access to facilities such as shops and services is also crucial to many people's choices. If you are going to have to queue or go shopping at unusual times you want to have choice and not be too far from home I would suggest.
  13. Sound advice but just to add it is always worth checking that your accountant has the relevant property tax knowledge - not all do!
  14. Thanks for sharing. Just noted that you mention service charges of £50 per month and ground rent of £150 pa but these charges do not appear to be represented in your monthly costs (or are they elsewhere perhaps). They are predictable and fixed so feel like candidates for inclusion? Otherwise a house with the same numbers would look the same when in fact they are not comparable. The key question is can you get a better ROI on another property, with (say) lower capital cost and more sustainable rent? My maxim is if in doubt go and look at some more properties and compare like for like! Hope this helps your thinking.
  15. Hi Chris, Alan If I may be so bold as to suggest that we will be there on the evening of 12 Dec and turn out has always been good at our meetup. Don't want to predict but the more the merrier so look forward to welcoming all comers to our NPC meetup at The Lion, NG7 7FQ. Lots of activity and opportunity in Nottingham so lots to discuss. Look forward to catching up with you soon. Regards Jonathan