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About alan1975

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  1. Hi Chris, sorry missed your post, i do attend the Nottingham Property Circle meet-ups but I have not made it for the last few months. Did you go ?
  2. Hi Chris, Welcome to the forum, like you I was an accidental landlord for 10 ten years but have recently added to my portfolio with two properties over in Nottingham. If not already I suggest you go along to some of the many property investment meet-ups. There are quite a few for Nottingham and I would imagine there are some you way as well. Best of luck
  3. There are other property investing meet up events in Nottingham that you could be going to while your waiting for this one to get back up and running, just search facebook and event bright.
  4. Having done some some research I went with Santander primarily because I needed a business bank account as fast as possible for mortgage purposes. I had to wait 48 hours from limited company being registered on company's house and then one phone call to Santander which by the end of call I had a account number. There are plenty of stores online about some of the big banks taking weeks/months to turn around accounts. Metro was a consideration but I wanted local branch access and I am no where close to London.
  5. Not the end of the world as your not paying the bills however if its V1 Smartmeter the tenant may have issues when switching to other suppliers in the future as different suppliers use different Smartmeters, they will still be able to switch but may end up having to read the metre and submit readings online (not smart). V2 Smartmeter roll out is suppose to be starting now where all the suppliers will be hooked into the same network, it would of been worth holding off for a v2 meter, suppliers are not obligated to upgrade V1 to V2.
  6. If you don't feel the slightest bit embarrassed by your first offer, you have not offered low enough
  7. Hi, Just a thought on this approach, with the DOT in place can all the mortgage interest be claimed back as I am not in the higher tax bracket or does the joint names scupper that plan despite the DOT?
  8. Like for like replacement can be claimed straight away so sounds like your good. Lines can get blurred for example if you where replacing old single glazed timber framed windows with double glazed UPVC that would be allowed as double glazed UPVC is now the standard.
  9. I do my calculations using 5% interest rate which what Rob Dix suggests
  10. this could make a good pod cast subject!, what are the upside/downsides of going the Title Deed route versus DOT ?
  11. Would that incur an additional cost for doing on top of the DOT ?
  12. Thanks, I guess the 'deed of trust' shouldn't be drawn up until we have taken ownership in case the purchase falls through.
  13. Hi All, Just had offer accepted on property that we going to rent out. This will be our third buy to let property although the other two are owned individually, one each respectivley (purchased before we where married). My wife is in the higher rate tax band where I am not so we want the rental income for this property to be go against me for tax purposes. Is the correct approach to buy this property in joint names and then have a 'deed of trust' set-up to hold the property as 'Tenants in Common' which details the split i.e. 1% / 99% ? My wife says if its too much hassle put it my name! Thanks
  14. Thanks, edited the post to say extension rather than renewal. So I read that as no stamp duty will be charged as the original lease was from before 1st December 2003
  15. Hi All, I am considering purchasing a leasehold flat which has 85 years left on the lease. Asking price is 80K with £200 service charge, article on moneysavingexpert suggests the cost will be around 8.5k to extend the lease which would be 2 years down the line. Question is would I also incur stamp duty again when extending the lease? If it does then potential looking at more like 11.5 K !!