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haf1963

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About haf1963

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  1. haf1963

    Buying property to live in under LTD.

    its not clear why you would want to do this or why you think buying in your own name will put you into the 40% tax bracket. Not to mention if you need a mortgage.. A complicated question but i am struggling to see an advantage here
  2. haf1963

    Ensuites in HMO's

    there are space savig designs including sinks that sit above the toilet so worth investigating as i suspect you ar ebetter off having even a cramped on-suite with a toilet than without
  3. Tough one as i fear it may be too late - short of switching mortgage provider and hence getting another survey. When I do this i always make sure I am at the valuation with a folder showing before refurb pictures plus a 'schedule of works' detailing everything done. Never had a problem getting the valuation i wanted.
  4. you need a lease agreement between you and the owner detailing the terms of the deal. message me and i will try and send you an example
  5. haf1963

    Owing outright then mortgaging

    Depends. If you want to mortgage the whole thing then it will be a commercial mortgage whereas if you are looking to split into leashold flats then they can be mortgage individually. Its not straightforward as splitting the building into individual flats can be messy and I suspect you will need the advice of a solicitor and mortgage broker to work out whats do-able.
  6. Given your profile (roughly same as mine) then LTD is a no-brainer and I did it 2 years ago. Aside from slightly higher mortgage rates and accountancy fees - its all upside. Obviously talk to a specialist but plenty of information and case studies available for guidance
  7. You definitly need a discount at the very least as the resale value will be affected. Also depends on how much remedial work was done as floors/windows/etc are all affected and the underpinning is only fixing the subsidance element. I would be up for it if a good discount was given
  8. If you are doing some rewiring etc then its not difficult to put in a submeter for gas and electricty. No need to inform the utilities as they still send one bill and you split based on meter readings. Water is a bit trickier but i suspect you can juist go 50/50. I've done this on a property and it was no big deal really
  9. haf1963

    director's loan to a limited company

    I have done this regularly and chose 0% interest personally. If you do take interest then I believe its automatically taxed at 20% - though not totally sure this is the case.
  10. haf1963

    Realistic rent to rent cashflow

    i gave a property to someone doing rent to rent simply because i don't have the time or energy to convert it to HMO etc - also they will pay for lots of day to day repairs expense etc plus rent is more reliable. Most likley afetr a couple of years i may well take it back and carry it on as a hmo myself. It was a 4 bed terrace and they converted it to 5 bed hmo so suspect they doubled the rent they are paying me so clearly its a workable model
  11. haf1963

    Opinions on 'modern method of auction'?

    real auctions or normal estate agents are what i go with - just don't trust these MMOA and the few i have looked at didn't really stack up when looking at total cost
  12. haf1963

    Pros and cons to using a Ltd company?

    not really worth going down ltd for 1-2 in my opinion as it really needs 4-5 to make it worthwhile given extra costs plus higher interest rates etc
  13. Pretty much everything you list is extra charges. You can normally go to the website of the major agents and get details of all the charges
  14. To get a Ltd BTL mortgage you will pretty much have to give a personal guarantee so i would say yes they mortgage company can/will come after you personally. I would say its very low risk as the mortgage company will start by selling the property and taking the proceeedings. I have had to do this personal guarantee and cant say I am very worried about it - as its pretty difficult for a LTD company with a few properties to go bankrupt to be honest. It is possible to get a BTL without the personal guarantee via specialist lenders or after the Ltd has a proven/profitable track record.
  15. The above model seems to be saying that you will invest 300k and receive a net income of approk 1k per month (3 x 319) and that seems to be without factoring in tax. This is not really a good plan if your main priority is income as you can invest 300k in otherways to get back 1k per month much easier - if income is the priority the how much net do you need as HMO's are not a bad option assuming you know the downsides... Also 200k property giving you 750 is pretty poor as I am getting 800 on 150k properties in the midlands. Also depends on ltd company setup versus personal. To be honest you probbaly want to educate yourself more using the courses on this site
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