Jump to content


Established Member
  • Content Count

  • Joined

  • Last visited


About haf1963

  • Rank

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Releasing equity via. a remortgage is fine and you can do what you like with it inside the company. Releasing equity by selling a property is a different matter as its capital gains so fully tax-able
  2. in principle you can use profits from one property income to offset expenses in another but the work you do in the other property has to be legitimate 'expense' and not 'adding value' i.e upgrades etc. So if you are replacing a bathroom/kitchen in another rented out property (due to it being no longer fit for purpose) then thats fine but if you are doing a refurb before renting or doing an upgrade that adds value then it can't be written off against income. It will be part of your capital gains at a later stage
  3. No NI upto £8000 and no issues with a Director taking salary or even paying into a personal pension. Plenty of options
  4. In short you have to pay corporation tax on any profit regardless of what you do with them. obviously you can pay yourself a salary or various other things to minimise the profit. Also you will have to pay tax again if you take out company profit as dividends/salary etc Its perfectly possible in a small ltd to make no profit for a period as you will have many expenses
  5. best result is tactical voting and a hung parliment.. keep both ends of the extreme in check
  6. You definitly need to pay stamp duty and the transfer will not be straight forward given there is a mortgage company involved and the LTD is efefctively buying the property from you. I have only done this as 'cash' so not sure of the mortgage implications and if they are a showstopper
  7. I doubt very much if there will be anything happening anytime soon after the election - at least on anything other than brexit
  8. I will be very impressed iof a 100k property with 20k refurb gets valued at 170k. I'm assuming you are somehow getting well below market value through sourcing etc. Great model if it works in real life so good luck
  9. I think the above comment is a bit harsh as I know a few landlords who 'specialise' in this type of letting and make it work. The quality/locality of the property is typically at the bottom end and the rent is lower than private. The rental guarantee and zero hasssle given the low value of the property can make it work. Typically you need to be a cash buyer and not involve mortages etc. Obvioulsy there is a queston of whether you are 'comfortable' with this kind of investing - but plenty are. Not for the faint hearted for sure
  10. splitting a property into 2 flats is fraught with difficulty - especially if its a residential house in a residential area and the only way to get any idea if its poss is to either talk to the council via a pre-app or consult a planner to see whats possible/likely with the council in question. I ssupect a betetr bet is to buy a house thats already converted but needs refurb/modernisation as thats a lower risk. Personally I am not convinced of the benefits as a flat conversion tends to be a godo option when its multiple flats rather than just 2. Its also true to say that you are much more likely to make this work if its a cash purchase as most mortgage companies will not be at all keen in allowing it. Aside from that I agree with conrad on the SDLT stuff.. As he said its a complex area with tax implications as well as verious others so not to be taken lightly.
  11. Agree 100% that he auction house/seller can put whatever they want in the legal pack/contract and I have seen cases where its 10K+ worth of 'costs' so you have to factor that into your top bid or avoid alltogether
  12. It depends on how much you want the property and how much someone else does. If you are happy to walkaway then make a second 'best offer' - say 105k and then walk away. If the property suits your needs and you feel its worth 210 then its hard to avoid some kind of bidding war.
  13. as i understand it you can do this but its an automatic 20% tax to the goverment on any interest payment you make (to yourself or another person) -
  14. My spreadsheet listed the work schedule but no prices as I did much if it myself
  15. your mortgage will be 75% of what the mortgage valuer says is the value and it may not be 270k - given its not selling then there is a fair chance its over valued. I would not rush to buy out to rent out as it may not even meet the mortgage stress test. I've no idea what the rent is where you are but it will need to be pretty high to make the numbers stack up. Personally i would be looking to sell - even if it means 260ish and then buy a place thats more geared to BTL