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T Southall

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  1. Many thanks Andrew. I mean, if we go with a personal mortgage rather than through a Ltd Company, can we use rental income to put towards another mortgage in the future? I presume this is complicated and depends on the lender. If we were to refinance at some point and leave the equity released to sit for some time in the Ltd Company bank account, does this count as profit and therefore accountable for corporation tax? Thanks again!
  2. Hi all, I am an expat in the process of purchasing a BTL property in the UK. I don't currently own any property. I am considering the pros and cons of using a Ltd Company to purchase the property. My main area of concern is that myself and my wife will probably be looking to buy a family home in the UK in approximately 3 years. Taking this into consideration I am wondering... Would going with a Ltd Company mean that myself and my wife could pay ourselves a monthly wage, which can top up our salaries when applying for a mortgage in the future? Could we do this anyway if we purchased in our own names? When refinancing using a Ltd Company, does 20% get charged as corporation tax, along with other profits, or is there a way round this? Are the rates given when gaining a BTL mortgage through a Ltd Company worse than when purchasing in our own names? Many Thanks, Tom
  3. Hi Alison, A shame about the answer, but many thanks for this, it is very useful for making long term plans. We are unlikely to want to live in the BTLs for any period of time, but you never know, this could be a possibility. We are unlikely to be looking at purchasing a property for at least 3 years, possibly a lot longer, so I still think that the rental and capital growth made in this time will outweigh the negative of having to pay the higher rate of stamp duty on a property in the long run. I will put some figures together to check this though! Many thanks for your help, Tom
  4. Hi Alison, Thanks so much for this, that is really useful to know. If we decide to buy a residential property to live in ourselves (possibly in a few years time) whilst still owning the two BTLs, am I right in thinking we would pay the normal, rather than the higher rate of stamp duty on this property, as it would be our main and only residence? We currently live abroad and rent. Thanks again for your help, Tom
  5. Hi all, I am looking for some stamp duty geeks/specialists to help with the following scenario. Any help would be really appreciated! Neither my wife nor I currently own a property but we are planning to make two BTL purchases in the near future. My wife is having some time out of work to look after our new child so I am required on the deeds of both properties in order to gain a mortgage, as she will not have an income. I am thinking that on the first property she will own 99%, with 1% in my name. We would pay the normal rate of stamp duty in this scenario (as far as I am aware we would not be applicable for the first-time buyer exemption due to the property being a BTL) Our second property would be 100% in my name. If I only own 1% in the first property would I be required to pay the normal or higher rate of stamp duty on this new property? Many Thanks, Tom
  6. Hi all, I am looking for a bit of mortgage advice. I am currently an expat and I am purchasing a BTL property in the UK with the view to buying a further BTL property within the next year. In approximately 3 years I plan to move back to the UK and buy a property to live in with a repayment mortgage. I would like to know whether mortgage lenders are likely to accept my rental income (alongside my salary) in my mortgage application, resulting in a larger loan? Any help would be much appreciated. Thanks, Tom
  7. Many thanks for the information and good to know that I should be in the middle bracket rather than the higher bracket! Tom
  8. Hi all, I am a British expat and I don't currently own a property in the UK or anywhere else in the World. I am looking to purchase a buy to let property in the UK but have heard conflicting information in regards to Stamp Duty. As a first time buyer you could presume that I would be exempt up to 300,000 but is this not correct for a buy to let/expat? Any help would be really appreciated! Tom
  9. Hi all, I am a British expat and don't currently own a property in the UK or anywhere else in the World. I am looking to purchase a buy to let property in the UK in the near future. I have heard conflicting information on where I stand in terms of Stamp Duty. I am a first time buyer which would suggest I am exempt up to 300,000 - but is this only applicable I was to be a resident in the property that I purchase? If I do not receive the exemption would I still be applicable for this in the future - even though I may already own a buy to let? Any help would be really appreciated! Kind Regards, Tom
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