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Jody B

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  1. Jody B

    Day jobs?

    I work in IT also, networks to be more specific.
  2. Hmmm I hadn’t considered that. I don’t think CGT or SDLT would exceed £10K on their own, but the combined amount is likely to exceed £10K based on my circumstances. Sounds like I’ll need to stash that money away and see how things pan out. The EPC that came with the property suggested some pretty drastic action to get it up to a C. I’ll need to get it looked at again, as some of those actions just aren’t going to fly, especially with a tenant in situ.
  3. I’m looking to extract some equity when I remortgage in Nov, then I’ll be looking to buy again. I’ll see where things are at then. I am keeping an eye on local prices, they are high but so are rents.
  4. I’m in a similar situation with one of my properties. It’s safe to say that I won’t be spending £10K to bring it up to a C, it will be sold if necessary.
  5. I’m eagerly awaiting the “how to remove T-REX from rental property” thread. Enjoy!
  6. Did they not build a load of purpose built student accommodation a few years ago?
  7. Hi Griff If you don’t mind me asking, whereabouts in Preston are your properties and what type of property are they? I really considered Preston but bottled it in the end.
  8. Hi Carl In the end I bought something closer to home (Blackpool area) and used the agent I already use. Preston still interests me but it might be cost prohibitive for a while. I’m saving for number 3 at the moment and will see what the landscape is like at the end of the year. I believe Property Hub Lets have somebody in Preston if you’re looking for an agent.
  9. Hi All I'm on the brink of exchanging contracts on my second BTL and have hit a small obstacle. I've been informed that my mortgage lender (The Nottingham) won't let my solicitor Advise on their Mortgage Offer and Guarantee, it has to be done by another solicitor. I'm now ringing around all the other local solicitors looking for one that will do this for me. I'm told it's a 5 minute job and none of them are being particularly responsive. Is this normal? Thanks
  10. Hi All I have had an offer accepted for a new BTL and have been chatting with the estate agent’s in house broker. We have been discussing a product with TMW and I think the broker has not selected the correct type of product. I require a mortgage for a Limited Company, but the rates that the broker is discussing match those of an individual BTL product. I can see this on TMW’s product finder. The broker is adamant that this is suitable for a Limited Company also. The rate is 2.04% over 5 years, I was expecting something above 3.5%. Has the broker made a mistake or do they know something that nobody else does?
  11. Hi Does anybody know a good letting agent in Preston? Also, does anybody have any advice on where/where not to invest in Preston? I'm looking for my second property, preferably a family home on a standard AST. Thanks Jody
  12. Hi I am currently looking for my second property and am looking to spend up to £110K. I'd like to buy and hold for up to 20 years, possibly release any extra capital along the way, and eventually sell off when I retire. I've heard the 2 Robs talk about targeting growth on the podcast, and they don't seem too concerned about generating any serious income. But how little is too little? I've been looking at flats in the Salford area, and when all expenses have been accounted for I'll receive <£100 per month. When I stress test at 5.5% I'll be making a loss of £5. Any void periods may mean I make nothing for a year and some of these properties have issues with doubling ground rent. What is the general approach with this strategy, do I just need to suck it up and let growth blow all this out of the water? Is the above example pretty typical, or do I need better numbers? Thanks Jody
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