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About richnewt

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    Established member

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  • Location
  • Areas I invest in
    South West, Hong Kong
  • Property investment interests
    Building a portfolio for both a retirement nest egg and supplementary income. Interested in holiday HMOs, residential and mixed use

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  1. Reclaim can happen as long as you sell your primary residence with the given period. However, if your primary residence is rented there's no opportunity to reclaim
  2. Thanks Nicholas, I also just checked with HMRC and they confirmed the same as you, For anyone else that comes across this thread for the same subject there's a good outline of this anomaly in this article too: https://www.ft.com/content/bb51e06e-2bd1-11e6-bf8d-26294ad519fc Seems that for anyone with BTLs and renting themselves, if you're planning to buy in the foreseeable future it may be a good idea to move into one of your BTLs for a while to establish as your primary residence and then sell it as part of the chain. Not much help for Nicholas and myself though
  3. Thanks Stuart, Yes I agree, I think my situation is pretty murky as to my mind I am replacing my main residence as neither of the properties that I own are my main residence. Nothing's ever simple is it!?! At least that's what I'm hoping anyway....
  4. Hi Stuart, Thanks for the answer. I feared that might well be the case. However after working through the SDLT calculator (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) it indicates that the 3% won't apply to me as the purchase will be for my primary residence. I had to answer the following questions: "Will the purchase of the property result in owning two or more properties?" YES "Is the property being purchased replacing your main residence?" YES This spits out an answer to me that show the 3% would not be payable, hence my utter confusion! Won
  5. Hi guys, Just want to check my understanding as I move towards a transaction. I currently own 2 BTLs but live in rented accommodation as my main residence. We're looking at buying a new place which will be our primary residence. Am I correct that under the new stamp duty rules that I won't have to pay stamp duty under 500k? My understanding is that the 3% won't apply as this will be my primary residence. One other thing that might complicate is that the property includes an annex and a 1 bed cottage that we'll be using for holiday lets. || Thank you!
  6. Hi all, My wife and I are about to implement a long term dream to buy a primary residence that includes a couple of small cottages that we want to rent out. Ultimately we're planning to use this as a lifestyle business that we can grow slowly and potentially leave to my son by adding eg. camping on some extra land as well.My question is, should we be buying this property as a personal purchase or in a Ltd company? I also own 1 flat in my name that is rented out currently, but we are renting out current primary residence. Any advice would be greatly appreciated!
  7. Hi everyone, I currently have 2 properties mortgage free that I rent out (~12k per year / value ~250k). I also have around 150k that I'd like to put to work in property, potentially leveraging across a couple of holiday lets. My potential issue is that, having just moved back from abroad I currently have no other income and would like to make this my full time start in property. I'm concerned that with an income of only 12k a year that I wouldn't be given mortgages - but am wondering if I could secure against my other properties and/or have someone act as a guarantor? Would
  8. Just had a really interesting conversation with a friend, we were discussing if you had 500K to burn, how would you build your portfolio. I said I'd leverage the 500k and split the across the following property types all at 60% LTV. 20% pure residential (therefore 250K assets) - safest 20% pure commercial (retail / manufacturing) (therefore 250K assets) - riskiest if empty but good yields + long contracts when let 30% holiday lets (self managed) (410k assets) - Lots of work, but great yields 30% mixed use (retail / residential) (410k assets) - good yields and all weather
  9. Hi Rob, when you mention about overpriced property, are you specifically referring to developments such as Infinity etc? (ie. those being sold off plan as part of the Liverpool Waters scheme)? Cheers, Richard
  10. Hi DLR, Thanks for sharing your plans - I'd love to hear more about your successes, I'm also an expat (HK based) looking to buy a BTL or 2 in the same area and am currently pondering whether to go down the off plan route. You mentioned you were working with sourcers - how did you find that experience? Thanks, Richard
  11. Hi team, Been sneaking around on this forum for a while now reading all the great content so would like to introduce myself. I'm currently based in Hong Kong and am looking to add to a 2 bed terrace I have in Plymouth (my hometown) which I own outright. My aim is to move back to the UK in around 3-5 years time. Currently I have around 100k good to go for deposit(s) and I'd like to invest that in some 2-4 100K BTL properties during the next 12 months before gradually adding more to that fledgling portfolio before I return. I have my eye on one more flat in Plymouth and am also open to i
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