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dan sch

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  1. Hi all, Has anyone done the strategy call with the Property Hub? Did you get much from it? How long between request and callback? I missed a callback sometime late last year and have resubmitted requests but not heard anything - just wondering if I should be continuing to pursue it or if there's just a backlog at the moment and I need to be patient.
  2. Thanks Sierano - it's an interesting approach to try and help the debtor as well as working with the bank that owns it - I can see how that would help everyone move on positively from an unpleasant situation . There were a couple of other things that put us off this house in the end. Interestingly, I've just been back for a look after your seeing your post - the house was on the market for £89,995 from September 2016 and eventually sold for £91,000 in May 2018.
  3. We knew it wasn't habitable based on seeing it (no mention in the particulars) but the uncertainty is whether or not changes made were structurally safe and signed off by Building Control. We now know that they weren't (or, if they were, no record exists) so the non-habitable space now becomes a potential future liability if corrective action is required. My thinking is that even with indemnity insurance, there is potential disruption in future if, for whatever reason, we need to make good.
  4. Hi folks, we're currently in the process of buying our second BTL and it's been highlighted by our solicitor that the converted loft (carpeted, plastered and with a roof window but no fixed staircase) does not have the necessary permissions (i.e. Building Control sign off). It wasn't sold as habitable space but we're being advised to have the vendor (an absent executor) get a letter of comfort from the LA; to indemnify us against any future associated costs for remedial work; or to "take a view" (which, in the context is likely to be proceeding at our own risk, renegotiating the price or
  5. Hi folks, I've had my property let for the past 10 months by an agent but I'm considering self-managing (a number of things including poor comms and errors in paperwork have frustrated me). Does anyone have any advice on pitfalls or things to look out for? The agent found the tenant, did all the necessary checks (they say) and have protected the deposit. How simple should it be to transfer over to me? House is in a ltd company, recently mortgaged on a BTL product. Tenancy is the standard Scottish form (no specified term).
  6. Tim, Not sure there's a right and wrong answer here, depends on your appetite for risk, I guess! One thing that's often mentioned is determining at what price a deal works for you. On this basis, why is Auction Lot 3 your preferred deal? If you skipped the other two to go for it, would you have the discipline to stop at your max price, knowing it's your last chance on the day to invest? On that basis, should your max price for Lot 3 be higher, and would it then be a better deal than the other two? Personally, I'd be nervous about being outbid on the last one
  7. Hi Mark, In fairness, of the costs you've listed there, it's only really the accountant that is an add-on because of Ltd Co status (although depending on your circumstances, perhaps £3k of SDLT and a slight premium on the mortgage interest might also be considered). Most of it looks about right to me. By your numbers you shouldn't include VAT on your accountants fee, so net is £214.4/month against an investment of £30000 which would give 8.6% ROI (compared to 6.6% at a £48 fee). It's not brilliant, but you'd be hard-pressed to get a similar return elsewhere and I'm assuming that y
  8. I’m with you on this one Simon - the odd error is forgiveable, but that email is badly written and clearly could have been improved by using a spell-checker and grammar-checker, usually standard features on an office software suite. Not using basic tools to improve the product rings alarm bells about other things they might miss/overlook/ignore. I’m a firm believer in appropriate standards and would expect someone ‘selling’ a service to me or my services to others to present a more professional front than that. Plenty of other agents to use!
  9. Cheers El B - picked up four rolls of Knauf Earthwool 100mm for £50 on Gumtree so going to go with 200mm as well. Sometimes is cheaper to just get stuff for cash on Gumtree than put it through the company! Have you had an EPC done yet?
  10. Hi folks, just about to replace all the insulation in the loft of my BTL following a burst-pipe flood (need to update my progress journal). The joists are 100mm depth and the 270mm insulation depth recommendation is well publicised. But... To achieve 270 I'd need to lay 100mm between joists and then cross-lay 170mm. This involves buying two types of insulation and having the associated leftover for both thicknesses (although the stuff is fairly flexible, so that's not such a concern). However, in doing some research I came across this table that suggests there's no incremental gain
  11. Hopefully someone will give you a definitive answer on this but I've just had an electrician round to do the same on a house I'm preparing for rent. I pointed out my areas of concern, he identified another couple and we agreed that he'll come back on Friday, put right the non-compliant parts and carry out the check. I guess this is a bit like my mechanic who tells me what my car will fail its MoT on, fixes it and tests it. You'll probably find that the guys who offer the cheapest EICR are the ones who charge the most to re-test.
  12. Classic Risk-Reward, George. The potential reward is getting the property on the cheap - the risk is that the bank take it to auction and it either pushes the price up, or you don't get it at all. I guess you have to consider if it works for you at the current price, and also whether you're actually going to manage to close the deal if you've got issues with the chain. Others will be better placed to explain the process, but it sounds as if your vendor is up against financial difficulties - if the property is repossessed, does she get anything? That might be a bargaining chip for you. There mi
  13. Appreciate this is an old post from a newbie member, but thought it might be worth chipping in on the off-chance that someone else has the same question. Alexander - I think the terms "factor" and "close" give this away as being north of the border.In Scotland a "Factor" is the entity responsible for maintenance of communal areas, usually in a block of flats or an estate of houses. They will be responsible for general maintenance and repairs. A "close" is the internal hallway of a building. Josef - without a factor I believe you would need to get together as tenants to
  14. Darren, I've contacted a couple of brokers but would never say no to a third opinion - what sort of policy did you end up with and who did you use? Thanks in advance, Dan
  15. James, I think your friend is probably correct in that the contractor might be unwilling to take a credit card - the reality is that it costs companies 1.5-2.5% to process EMV transactions, and that's how the banks are able to offer rewards when you use them. By comparison, it probably costs your roofer nothing to receive money by BACS so he might well factor this difference in, if he accepts cards at all. That said, if you can find a contractor that takes cards then it makes perfect sense - either for the rewards or, as Caroline says, to get the extended 0% deals which
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