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Everything posted by bigdreamsp

  1. Thank you David for your response. We actually do not intend on taking dividends in the short to medium term but we just want the flexibility to vary the dividend distribution without having to change the share split every time. I believe this can simply be achieved by inputting the relevant wording into the articles at the point incorporation. It just seems like a simple off the shelf product alphabet share structure should be able to achieve this.
  2. I'm thinking about buying commercial property as the numbers overall seem to work a lot better however I've just been told that commercial mortgage rates are typically a lot higher. I cant seem to do a simple comparison online so thought I'd ask the experienced investors here. What would a typical commercial or semi commercial property rate at 75 ltv be?
  3. So I've established that acquiring further properties through the ltd company structure will be better for me and my wife and now I just need to go ahead and get one setup. Our case it simple, we want to set it up with 2 shares, A for me and B for wife, split equally. However we want to be able to take differing dividends each year. I understand that this can be done quite simply by adding the relevant wording into the articles. I was wondering if anyone can recommend how I approach this. I've heard a simple structure like this can be bought off the shelf, if so do you recommen
  4. Hello, i'm convinced that i should be setting up a ltd company as it'll provide more flexibility and be better for tax. I'm aware that accounts will need to be done by a professional but i was hoping i could work with one that specialises in property but can also offer specialist tax advice. essentially i'd like to work with one that doesn't just report and do the accounts but can help me plan ahead and advise. I'll firstly need advice on how to structure the ltd company based on my circumstances and future plans. A recommendation and estimate of charges would be great if anyon
  5. That's interesting. I wasnt expecting there to be a substantial difference in costs. On another point would the same apply for management activities? If I choose to manage the properties myself could this be done within the same company or would a separate one need setting up?
  6. First of all many thanks for both replies and apologies I did not receive notifications and so did not see them until now! I'm definitely convinced I need to use a ltd company going forward. Having thought further about this I'm not too concerned about extracting profits in the short to medium term as I aim to roll up the profits and build the portfolio. Although I do want to make sure I set up the right share structure to provide more flexibility in distributing the income but more importantly passing the assets on for legacy. I think it's too early to be assigning freezer shares cu
  7. Hello all. I want to understand the best way to setup a limited company/companies structure with my wife that will provide flexibility for structuring income in the future and legacy planning as well. In terms of IHT, I've heard about assigning freezer shares to children or a trust, but as these are very long term plans (don't currently have children) i want to have the flexibility to do this in the future but maybe not right away. I plan on buying and holding resi and commercial properties (potentially mixed use). However, i may down the line look at serviced accommodation whic
  8. Thanks for the replies. I've never owned a home that I've lived in. Because I'm purchasing a main residence I would have thought I dont pay anything up to £500k.
  9. Imagine this situation: Landlord with 2 properties lives with his parents, they own this property. Landlord does not own any property that he lives in. Landlord then buys a house to live in himself. Does he have to pay the higher rate of stamp duty?
  10. Hello all, I've been looking at buying in Manchester and have typically been looking for a house within 1 mile from the city centre. My thought is that a house within close proximity of the centre could be of high value in the long run once the centre starts to expand out. Most prime areas are very expensive for houses but Hulme is one of the few areas where prices are still very low. I'm not from Manchester and not that familiar with all the areas but from all the discussion around Manchester it has got me interested. I would be grateful for your thoughts on the area of Hulme a
  11. Thanks for the response. I guess what I'm really asking is by being pushed up into higher rate bracket would I lose the tax credit, or could a pension contribution mitigate this?
  12. Hello all, I'm looking to buy a BTL but unsure on whether I NEED to buy within limited company or not. I'm just below the HRT tax band currently but another property will put me into the HRT tax band, and therefore i have been thinking to buy within a Ltd company. However, I'm aware that making a pension contribution would extend the tax band. Therefore, if my assumption is right, surely this would be a quick and easy way of mitigating the HRT that would otherwise apply? I can't see this being covered anywhere so i would be most grateful if someone here with experience could enlight
  13. Thank you both for the replies. This is very helpful. My solicitor handling the transfer of equity unfortunately does not deal with the splitting of rental income (form 17) etc. I wondered if this is something i can do myself? If so are there any instruction that i can follow? Also, are there any other considerations like a trust or anything else i need to be aware of?
  14. I'm in the process of transferring our BTL to joint ownership (not tenants in common) with my wife. I would also like to transfer 99% of the rental to my wife who is a basic rate tax payer. There is so much conflicting information online about transferring rental income so wanted to see if I can get a definitive answer from someone who has been through this process. I am aware there are certain forms that can be used to do this, but would really appreciate if someone can clarify how to do this exactly.
  15. hi i'm still trying to find a good spreadhsheet. i can't find the links for the ones quoted above. can anyone help?
  16. That's very interesting. Would i need a solicitor to do the declaration of trust or is this something i can sort out myself? Any guidance would be a huge help. This would mean I don't have to transfer ownership at all?
  17. Thanks very much for the suggestion. We tried leek but because the apartment is higher than 6 floor they will not lend, which is unfortunate as they have a good rate. Barclays has a minimum income requirement of £25k , however i just found out something interesting this morning. I spoke to a broker and they said that they can get around this by underwriting themselves. I never knew this would be possible. Have you guys had any experience with brokers willing to underwrite themselves in order to get around certain restrictions? Is this legitimate?
  18. Yes, it's proving very difficult. We did find a couple of lenders in precise and visa but the rates are high at 3.7%. I hope someone can suggest a place with a decent rate.
  19. My friend and his partner have never owned a property before and are both currently earning less that £25k, but jointly income is above £30k. I wondered if anyone here can advise which lenders would consider them? I know there are a few that offer FTB but the problem here is the income as most require at least £25k annual salary, even though they have a good amount of savings and can deposit upto £125k on a £250k house.
  20. is it possible to split the income even my wife isn't a joint owner? Or would i have to transfer ownership?
  21. First of all, big thanks to Rob, Rob & Russell for another great episode. I'm in a similar position to the caller today and wanted find out more about transferring property to spouse. I'm on a basic tax rate at the moment, but will be pushed into the higher rate by 2020. I think transferring ownership could be an excellent option for saving on tax, and wanted to know how this can be done practically. What is the process of equaling income? Is there a link on HMRC or anywhere where I can get some guidance? Also, for anyone that is looking to do this, stamp duty implications need to be
  22. Just recently bought a buy to let and was wondering if there's any templates excel spreadsheets for profit & loss and cash flow?
  23. Hello all, So I've just complete my first investment property close to home in Northampton. I'm now thinking to look outside at areas that will be undergoing regeneration. I've heard the hype around nine elms which seems like a fantastic opportunity if you have the capital - unfortunately not in my case. So i'm thinking at areas outside of London. I'm still a newbie so apologies for the ignorance - it would be good to get your thoughts on promising areas to invest in. Cheers
  24. Hello all, Like many, I heard about the site through the podcast. It's great to be on here. Hopefully I can gain some valuable tips here and also share my experience as time goes on. I've wanted to invest in property for many years and I've finally managed to do so in my local town of Northampton. However, in the future I'd like to invest in areas that are undergoing more regeneration so hopefully I can pick up some good insights here. This looks pretty interesting but probably not something I can afford at this stage. Interesting nonetheless: <iframe width="560" hei
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