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Everything posted by eamonheggarty

  1. @EvolutionBlogger thanks for the advice. I've contact DBCL as @paulrybak has put me onto above. They have asked to wait 4-6 weeks until the ex-tenant will have some form of online data with an address. DCBL did mentioned 80% of their rent arrears are paid on the first letter which sounded very high but fingers crossed that occurs. 20% get the guys calling to their new address. Ill keep the PH community updated and hopefully anyone else reading this can take some advice and value from it. Eamon
  2. *UPDATE* So after a nightmare 13 months my tenant has finally left. It really is a great feeling getting your own property back off scammer. I stepped foot inside my flat for the first time in 6 months yesterday and it was smelly (cat pee/poo), dirty, damaged and broken but EMPTY A long 24hrs later i got it fully repainted and cleaned and hopefully back on the market soon. Thank you for all your comments above. I am currently looking into different ways to recoup the money she owes me (£9,200) + possibly outstanding bills etc. I've came up with a list below, if anyone has any
  3. @nicholas b i do live 400miles away but plan to get down on the day of her leaving. I'm certainty not counting any chickens just yet, I wouldn't be surprised at all if she pulled another delay tactic. Great advise on the checklists and lock changes. I've asked for an address but currently she refuses to give me it. @EvolutionBlogger she has never claimed not to have the money but rather bank account issues and people owing her money etc. When i last met her in person and in the property she has Apple computers and expensive consumables with a good paying job so i don't see the "iv
  4. Update! I've served the Section 8 notice and this seems to have scared/kicked her into action. She's now stating that she will be moving out by 19th January 2020 which will equate to 11months of the 12 month STA. On a move out date of 19th January, she will be in arrears of 8 1/2 months rent. All going well and her leaving the property on this date, what would my next steps be in recouping the rent arrears? Thanks again for all the previous comments, they have helped massively. Eamon
  5. @paulrybak & @EvolutionBlogger both thanks for the quick response. I’ll certainly look into DBLC, thanks. I don’t think it’s a problem getting them out as they apparently want to live somewhere cheaper (ironic) but finding their address would be tricky, Can the debt collectors come for rent arrears and unpaid bills too ( energy and council tax?) ive a copy of their passport so that shouldn’t be a problem either. Unfortunately courts seem to be a no go option due to COVID. If anyone has experience during COVID of using the courts I would love to hear about it.
  6. Hi all, I'm just wondering what can actually be done if my tenant won't pay their rent and plans to leave in 1 month without telling me where they are going? Essentially they have been in from mid February and only paid 2 months rent. At no point have they claimed covid has effected them and have also consistently told me they are going to pay and have the funds in their account (they are claiming their bank had blocked them constantly for 7 months) It's clearly evident they have no intention of paying and I believe they are playing the system as no evictions can take place e
  7. Ryan, Thanks for the message and ill certainly add you to the WhatsApp group. Funny enough I'm a Quantity surveyor too (7 years). Who do you work for? I've recently left Robertson construction and going down the sub contractor route now. Also what is your number so I can add you to the group Eamon
  8. I would also like advise on this as i have a very similar situation! Are Tenants basically on free rent for 1 year with no repercussions?
  9. @julia urquhart Would triple glazing and sounds insulation work haha? RICS set the value at £150k (In Scotland a home report has to carried out in order to sell a property, fairly rare you can purchase under Home report). £128k as the seller is motivated to sell and now has moved to the USA. Can you elaborate on "future mortgage options" would me accepting a bad rate now put other lenders off in the future? Or do you mean the property in general for future motgage options? Thanks again
  10. @julia urquhart If the sound insulation is adequate i wouldnt see why not. And for the numbers detailed above would you believe a £22k Below value purchased would be something to push forward with? Yep thanks for challenging as its always good to hear and consider other points. Whats your thoughts on the Mortgage %?
  11. @julia urquhart The pub has actually be vacant for the past 6 months. If this was to change to offices / cafe / barbers then the value of the property again would increase. Going down the Air B&B route im sure location and quality of accommodation would take precedence too?
  12. Hi All, Would appreciate some advice on a BLT im currently about to proceed with. I know there will be differing views on this however im just looking to see what you all think of the below: (Note as its situated above a pub ,lending has been incredibly hard to get and Covid has de risked all banks by the looks of it) Glasgow, 2 bed flat, City center. Value = £150k Purchaser Price = £128k @ 75% LTV Renovation costs £9k End value = £175k Mortgage = 3 Year fix @ 4.64% = £360ish/ month mortgage STA Rent £850/month, Air B&B £1600>£2600 conservat
  13. Hi All, Would appreciate some advice on a BLT im currently about to proceed with. I know there will be differing views on this however im just looking to see what you all think of the below: (Note as its situated above a pub ,lending has been incredibly hard to get and Covid has de risked all banks by the looks of it) Glasgow, 2 bed flat, City center. Value = £150k Purchaser Price = £128k @ 75% LTV Renovation costs £9k End value = £175k Mortgage = 3 Year fix @ 4.64% = £360ish/ month mortgage STA Rent £850/month, Air B&B £1600>£2600 conservat
  14. @marc_p 100% there would be interest. I previously contract Property hub to see why they dont run a meet up in the UKs 3rd largest city (glasgow) but they said they couldn't manage it as they only really now have Property hub employees or close connections to run it. Happy to try and get the ball rolling on this with you and see where it goes.
  15. Hubbers, Just after listening to the Chancellors Cuts on Stamp duty and its pretty positive news. I still have a few questions that hopefully can be answered in the coming days but ill leave them here to see what response i get. 1 - Does this apply to all of the UK (England/Scotland/Wales/NI)? 2 - Does this apply to Buy-to-Let property purchases too? 3 - Does this apply to Commercial property? 4 - Stamp Duty holiday? Does this mean after 31st March 2021 the Stamp duty that wasn't paid will then need to be paid back over time? 5 - Do you get a Stamp duty rebate
  16. Great stuff. Happy to set it up. PM me and ill send you my mobile number so i can add yous too a whatsapp group Eamon
  17. Guys great so see more chat about Scotland. This Website/forums would benefit from a separate "scotland" link which i might purpose to property hub as Scotland / england are clearly different in many aspects of property and each element is dealt with. Even more evident now that the virus has came about and rules in england (opening up the property market 6 weeks early) vs scotland is totally different. Would anyone be interested in a general whatsapp property group maybe called "scotland property hub" were we can bounce ideas, mentor and ask any questions about the markets in scotland et
  18. @cmack95 I have / had a very similar situation to you. From Ireland but lived in dubai and bought a flat in birmingham as an Expat investor. I currently live in glasgow and invest here. There are a hand full of different areas as you know to invest but i personally love city centre Glasgow and believe its the best capital growth to come. In terms of brokers / solicitors i can certainly send across some details if you want to PM me. Maybe even give you some ideas on purchasing a residental instead of BTL as an expat and some ways to save on tax etc. Cheers, Eamon
  19. Hi @camilla j I work and live in Glasgow and source and buy my own properties here. If you need any help drop me a PM and we could chat over what you need? Market just open on monday here so its go go go. Eamon
  20. Hi @sinj-p What exactly are you looking to gain from the consultants? Source + Purchase + Renovate + rent? Im currently actively working and live in central glasgow and purchasing properties. Drop me a PM and we could chat about your goals etc and see what we can do. Eamon
  21. Would like to know the full process too of an Eviction if anyone else can reply? Thanks Eamon
  22. @ayns Overall value was £150k. Offer accepted at £128k after a few offers i put in had been rejected. How is your searches going in Nottingham? Are you still as optimistic? I believe the conveyancing process is going to take 8-12 weeks instead of the usual 4-6 week, but i believe this is also a good opportunity to review the investment and market but as the price i paid is great im hoping to go through to the end of the process. I believe 8-12 weeks is when we will see some people back to work and builders/sole traders who need some money/side work to keep them going will take advan
  23. Currently just got an offer accepted at £22k below Home Report Value (City centre Glasgow, Scotland). Essentially nothing goes below home report value so i can only put it down to COV-19 and a motivated seller. As long as you buy at the right price then you're eliminating/reducing the risk. If you don't ask you don't get and its certainty time to start asking.
  24. Hi all, Has anyone came across a "trust" set up? My accountant confirmed he can run my personal BTL through my company accounts without the need to sell the property to the company and the deed etc is still under my personal name. This is done by using a "trust" document. Im currently purchasing my 2nd BTL this way too...buy it under my personal name, not through my company and set up a "trust". Seems like a simple and less expensive way to run a company. Any positives / negatives that come to mind and does anyone else use this technique? Eamon
  25. Stuart, Think you got me wrong. Ive accepted and complete the mortgage 2 weeks ago which fell under the 0.75%BBR. I was just wondering if there was some sort of cooling off period for banks and could this accepted remortgage be revisited within a certain period so i can essentially get a new mortgage which would reflect the current situations 0.25% BBR.
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