haf1963

I am paying 4% for Ltd mortgage so 3.72 seems reasonable

My strategy is the opposite i.e buy property's that can be extended and then do the extensions to add most value

Agree - same view from my accountant. I did a job description etc to make sure I was paying an appropriate rate for the work being done.

I did ask my solictor about this when i was looking to do something similar on a cash bought property in order to get individual mortgages but my solicitor said i had to sell and couldn't simply split into leashold and keep hold of the flats. I got the impression it was a relatively straightforward process but didn't pursue it. Hopefully someone moe helpful will provide more info

The 80% is a better option if you were looking to build a portfolio in a shorter time frame but if its early days for you and a few years delay is not a problem then 60% is indeed a good option

Costs aside, I suspect it wil be a while before you will get enough house price growth to make it worth re-financing so why don't you get a 80% LTV and use the 20% saved for next property?

I am doing something similar in birmingham so message me and i will let you know who i use - hopefully you have at least worked out how/where/size/etc and have a plan that sbeen thought through as this is a pretty complex area..

Agree - can't see it getting past brum untill well into the futre - if at all. Not sure I would start investing in cities on route up north anytime soon.. though some folks may feel braver

a commercial valuation of 380k says to me its a workable project. The banks aren't going to lend on anything with risk thesedays and with any commercial loan its about the returns rather than bricks & mortar. Nothing to stop you offering 290 or something and seeing if there is scope to reduce the price. I am in the process of converting a 100k property into 8 bed costing 150k more and I am not worried about bricks and mortar value as the returns stack up

I included with the form a copy of gas cert, epc and deposit confirmation. May as well pre-empt any comeback

Its on the goverment website - form 6a https://www.gov.uk/evicting-tenants/section-21-and-section-8-notices

yes this is a big advantage of going LTD - especially if you are happy to pay upto the NI limit as that means no tax or NI...

80k in birmingham will definitly limit your options - you will need to go north to walsall/wolverhamton etc to get something for that amount. There are. a high proportion of cash buyers in birmingham hence very difficult to get a deal from agents or auctions

i would just say 'ok' to the condition as its not like they will demand cancelation of the mortgage if you go beyond 30 days

Very interesting article and applicable to my last purchase so wondering if anyone else has looked in any detail? https://renovateme.co.uk/blog/stamp-duty-land-tax-derelict-properties/?__s=mj2qn8qfa6shsixbhfhu