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haf1963

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  1. 1. I believe the S21 replacement is going to make it easier and/or quicker to remove tenants that are in arrears/anti-social etc so hopefully this will not be an issue - though need to see the detail as usual 2. Never had a tenant leave in that short a timescale as the costs of moving in (unfurnished) are probably more than re-letting. This seems like more of a theoretical issue than a real one - at least for standard family BTL’s 3. Agree but I don’t dabble in the student market.. Also agree that EPC is much more serious/costly
  2. I have not studied the bill in great detail but looking at various summaries I am not sure how much there is to object to - certainly not thinking of throwing in the towel.. Most of it seems sensible and no doubt will get tweaks to iron out some of the detail.. Perhaps you can highlight your main concerns as its certainly possible that I am missing the major issues.. Would be useful to see a summary of your feedback as it will help others pick out the areas they may want to feedback on
  3. The predictions out there are covering a wide range both in terms of the %ge fall and the timescale.. One end you have 50% fall and the other 5% with timescales from end of this year to 2025.. Everyone is guessing so impossible to make decisions in this environment. I’d go with 10% in next 2 years but I am continuing to invest as i see good deals.
  4. Agree with most of the comments - my strategy has been auction properties that need a major refurb and/or small extension. Due to my contacts I am able to get the work done at a much lower rate than a normal commercial builder hence i can add value at a relatively low cost. Typically i mortgage after 9 months and will easily get a mortgage that returns most of my investment. Not sure if this is BMV as bidding at auction is ridiculous and i normally bid on 4-5 properties with 1 win being very fortunate..
  5. Probably not what you want to hear but i had a couple of tenants of a similar character and, in the end, i decided that it was worth taking a hit on a few thousand pounds to just get them out.. You can try the small claims court possibly as fees are tiny - though i doubt it will get your money back.. You are correct that there is a high probability of being worse off at the end of a debt collection process
  6. One reason for this could be room size (inc height) - especially as slope bits are included at a lower percentage than 100%.
  7. I am not sure the agent is correct at all - as i have a shop with 2 flats and they are all properly done through planning but I have 1 title deed. I can, if i want to, split the title into 3 leases but its not a requirement as all 3 have their own registered address and council tax. Wouldn’t be the first time an estate agent didn't know what he was talking about..
  8. I think you need a solicitor to advise as the council can easily ‘find out’ and get involved - depends on how much risk you are happy to take… could be an option to do retrospective planning for example.. It’s a messy situation but if the mortgage company are happy to loan then that’s the biggest hurdle to getting the deal done. You should at least checkout the safety side such us emergency lighting, fire exits etc
  9. Was around 15% IN 2008 recession so not a bad number to consider. Whether or not they go up by 15% before any recession impact is another question
  10. Tough one - especially as I don’t think a letter will achieve anything - other than maybe support a section 8 eviction. Try whatever you can but most likely you will need to issue a section 8 after 2 months in arrears - the risk being they can simply pay some rent to make the amount in the section 8 invalid.. I suspect some specialist advice may well be needed. You can try the NRLA scheme where they try and resolve issues as a ‘neutral party’. This was a free service to members when i used it but not sure if it still is.. Have to say I can’t see what value your agent is adding if you are having to do all the chasing. Good luck…
  11. Wickes ‘ready to go’ are perfect as they are benchmark under the covers so rock solid plus a combination of a 10% trade code plus 15% off regular specials means its a great deal. Alternatively Selco are good and if you are a regular its pretty easy to get 10-15% discount. On a BTL I typically get a good quality set of units for under a grand…
  12. I have done this area to death and one point about repaid loans is that they are repaid from profits so after corporation tax.. as above any interest you charge the Ltd on your loans is taxed at 20% as a starter
  13. Not sure about EPC but building Regs says 100mm cellotex typically for a solid floor… In my experience its too expensive to retrospectively insulate a floor to a high standard
  14. Many solicitors will review the legal pack for a small fee - say £100 - Majority of the legal pack is straightforward but the land registry docs def need a trained eye to check over. If you have a regular solicitor you use then they will do a quick scan for free as they know you and know they will get the business. The other key doc is the contract as many auction will want all their and the sellers fees paid by the buyer so an extra 5-10k on top of highest bid is not unusual around here )midlands). The odds of winning at auction these days is <5% if you are an investor looking for a decent deal as there are plenty of cash buyers and investors happy to pay over the odds. I’m guessing that if you are using bridging then you will have extra costs so would expect a reduced price versus market value so defiantly a tough way to buy in a hot market Good luck
  15. The property has been BTL for 20+ years so no it much scope to minimise CGT if sold…
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