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phil t

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About phil t

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    Established member

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  • Location
    SE Uk
  • Areas I invest in
    Surrey

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  1. Hi Robin, I believe this is to protect the mortgage companies. I understand that in the past there has been cases where a LTD company has been unable to meet the mortage repayments, then the LTD company have suggested that they only have limited liability or did not understand that the directors are responsible for the loan. The (expensive) chat or Independant Legal Advice confirms that you have understood that you are the Guarantor for your LTD company and responsible for the loan repayments, there are normally some documents signed and witnessed by yourself and the solictors to s
  2. A few from me: Property Cohort at PropertyCohort Vanessa Warwick at 4_Walls Iain Wallis at iainwallisuk Mary Latham at landlordtweets Andrew Stanford at ResiPropertyMan Mark Alexander at iAmALandlord Jayne Owen at jayneowen Jonathan Breeze at Breeze_Property Matt Newman at mattpnrmp The Property Voice at PropertyVoiceUK Rob Dix at robdix Rob Bence at robbence And of course The Property Hub at PropertyHubUK I'm sure others will be along with a much longer list. Phil
  3. Hi Andrew, I've just had a deeper look on the companies house website and found another link: https://www.gov.uk/government/publications/incorporation-and-names/incorporation-and-names I do recall reading somewhere that the companies name should represent the companies activities. If I find anything else I'll post another comment.... Andrews Abodes Ltd! Phil
  4. Decisions decisions...... Have a look at companies house, there are a few rules. I found the biggest challenge trying to find a name that doesn't already exist. Try this: https://www.gov.uk/limited-company-formation/choose-company-name Phil
  5. I've recently set-up a business account with Lloyds for my Ltd company, as Stuart mentioned the first year (or 18months?) is free. I did compare a few other accounts and for the transactions I'll be doing the long term cost will be minimal, I'll aim to do most of my banking online. I think the cash payments were 1% and cheques 65p, but don't quote me on that. One thing that did surprise me was how long it took to set-up the account. It maybe quicker if you go into a branch but setting everything up online from start to finish was around 3-4weeks. It involved filling out all of the approp
  6. Thank you both for taking the time to reply. I believe Richie to be correct with it being a Shareholder loan. With regards to charging interest on the loan I would be very interested in finding out if this is possible. As you've pointed out it would be massively beneficial over a longer time period, although I imagine there will be a few limitations to the interest rate that can be charged, hopefully someone will be able to let us know.
  7. Hi all, I'm currently in the process of weighing up the decision of starting a LTD company to continue my property investing. The question I have is about paying the deposit in to the company from my personal savings. I understand I can "GIFT" funds in to the company but I then believe I will be taxed on these funds when I remove them from the company, I also understand I can arrange a loan from myself in to the company, which I should be able to withdraw from the company tax free? Am I correct? If so how do I go about setting up the loan, I assume it has to be documented? Will this effect my
  8. Hello everyone, I'm Phil from Byfleet in Surrey. I became a landlord earlier this year when I moved in with my partner and chose to let my property. All is going well with the rental (and the relationship!). I have always enjoyed property and keeping an eye on what is happening in the local area with prices and developments. Before letting my property I read many blogs and websites for information about regulations and do's and don'ts things, I found myself driven to find out more and that's when I purchased The Complete Guide To Property Investment by Rob Dix, ( thanks Rob a fantastic and ver
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