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Craig WM

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About Craig WM

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  1. On a similar topic, I made a loss on my first rental this year due to refurb costs. HMRC state I don’t need to fill out a tax return but will I still be able to carry this loss forward to next year if I don’t?
  2. I used SGN in Scotland to connect my gas. Excellent service. Can’t complain. Remember you don’t get a meter from them. Meter box and capped pipe only. I then got Scottish Gas to install my meter for free by taking a contract. I then got my plumber to connect new boiler to meter.
  3. I add it to the mortgage. It’s a tiny bit more leverage and keeps more money in my pocket.
  4. Most buyers won’t know a good boiler from an average one. They’ll appreciate if it’s new but save yourself some money and go for the cheaper one.
  5. Openrent charge £119 plus £10 per bedroom so a bit less. I use them for letting my properties but haven't used this service.
  6. This looks more like portfolio management software rather than landlord software. More finance orientated and less tenant. Looks ok if that's what you're after.
  7. Spread your money around a few different banks and then you'll be covered for quite a few £85,000s. There's actually 20 different institutions covered by the scheme. I know it's a bit of a pain but you could be covered for up to £1.7 million. If you've got more than that, lucky you. Life must be tough
  8. This is comical. So “thanks for paying your premium all these years and not making a claim but now that the going might get a bit tough we’re not interested”. I’d be furious. The mortgage holiday and your tenants getting 80% of their income paid will hopefully be enough to keep the rent coming in. If not work with your tenants to find a solution but check they’re not lying about their circumstances.
  9. Hi and welcome to another Scottish forum member! Great that you've taken the first step into property. I'd be interested to know the details and figures for your Edinburgh property, as most people felt that Edinburgh was saturated and that it would give poor returns. I live and invest in Kirkcaldy and I know deals are hard to find even here. Craig.
  10. Hi and welcome. Property is a very large subject to study which is why most people do a bit of general reading or listening to allow them to work out what property subject appeals most to them. I'm a Scottish, self managing landlord and have learnt everything I need from books and podcasts. I know there are Scottish based landlord or letting agent courses but maybe you'd be more interested in property sourcing.
  11. Received the email below from my solicitor this afternoon. I was meant to be completing on Friday but I’ve now paused the sale for 3 weeks. Wife is temporarily out of work and the house was going to keep us busy but there’s too much risk to continue with the purchase until the lockdown is over. “We have now encountered a real problem. The title deeds for the house purchase are registered at the Registers of Scotland in Edinburgh, We have received an email at lunchtime to say that the Registers have suspended the registration operation process because of the virus. They are to issue an update on Friday.” “The title deeds including the deed in favour of your lender cannot therefore be registered after the purchase and as such guidelines have been issued to all solicitors indicating that is to be no house sales or purchases until the matter is resolved.”
  12. The cost of the materials are expenses but you can't claim labour for yourself. Remember, if you did charge yourself labour, your decorating self would have to pay tax on the income. Negates any saving
  13. There should have been mention of this in the home report seller questionnaire. If they haven't mentioned this, then they are liable and you have the right to walk away. Although in Scotland the acceptance of offer does constitute a contract, if something unforeseen crops up during the buying process the buyer can pull out. Your solicitor will advise you of these facts. Make sure you're using a Scottish solicitor as the law is different to the rest of the UK. You need more info on the details of why Hydro need the land. There may be an underground cable and they just need to keep access or they may be going to build a HV pylon! I wouldn't buy until this was crystal clear.
  14. Note all these points on the inventory when you are asked to sign it and photograph the damage. Send back to agent or landlord. If there is no inventory your landlord will have no evidence of the move in condition and therefore will have no grounds for complaint when you move out.
  15. Another vote for LNPG and magnet. Pre-built and soft closes are standard. Best of all, no haggling. Howdens annoy me that you can always knock them down more. I want best price first time.