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haf1963

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  1. The register deadline is usually only a day or 2 before the auction itself so unlikely but no harm in giving the action house a call to ask..
  2. I believe you will need full planning for a 7 bed now which means the council will look at all sorts of criteria inc feedback from the local community, parking, environmental and all the usual stuff inc over saturation. Not sure I have seen a proper list about it but you can contact the HMO team in Birmingham council and am sure they will give some high level advise. Obviously it will be be much harder than before and a few investors I know are now staying with 5-6 to avoid going 7+ rooms. I agree its a bit confusing with the new rules
  3. I am pretty sure that if you lease to a HA then you get your house back in the same condition at the end and repairs/damages are the responsibility of the HA. Its another story if you are letting directly to a Benefits tenant as then its all your responsibility
  4. Thanks, I am finding a fair bit of information on various ltd company and accountancy forums as well so will keep researching for now
  5. I would call it a great result as long as quality of work is to a decent standard - most tenants are the opposite and always asking for things to be done..
  6. Yes I manage a few properties for a friend and its never really come up as a question from clients as they only ever deal with me and have never seen/spoken to the owner - who is remote.
  7. You still use open rent but they will need some evidence that the property owner has agreed fro you to represent them - eg a signed letter - at least that's what's worked for me
  8. I thought I was pretty clued up on all the tax tricks involved in a LTD company but use of a SSAS is new to me so have been doing some reading up on how it all works and the benefits etc and would like to hear if anyone has done this specifically with a property SPV as opposed to other businesses and what were the key benefits/advantages. I will educate myself some more but thought it was worth asking as there are some knowledgable folks here
  9. Yes you can revise your offer as its usually 'subject to a satisfactory survey' as well as the valuation given your mortgage will be base on the valuation - the seller may or may not agree so you need to be prepared for them to walk away - though they may equally negotiate and ask to meet half way etc
  10. To be honest there are also advantages to doing a lease agreement in that you are not then subject to all the regs around AST's as we all know they are massively skewed towards favouring the tenant. I would also say that not all rent-to-rent spv's are of the 'dodgy' variety and many will have a good track record and good references. I'm not saying its the way to go but I have done both and definitely had much less tenant hassle from a lease than an AST so I'm not sure its a one sided argument.
  11. I have been doing this for last 5 years and have had no problems with the buy/renovate/rent/mortgage process or my accounts. I sold 1 property but it wasn't a flip as such - just decided the property wasn't performing for me. The accountant said its fine for a BTL SPV to do the occasional sale if it needs to as that not the same as 'trading'. All good so far..
  12. This is a complex area and really needs a detailed discussion with an accountant and solicitor, as well as factor in other IHT stuff - I had to do both and get involved in looking at setting up a trust and all sorts. Worth paying a few quid and getting proper advice versus random ideas from fellow forumers - though you may get some pointers if this what your after..
  13. Its a pretty confusing area and seems to be dependent on councils as well. Licensing is one thing but needing planning is another and I hear Different rules from different places. I thought the case was that c3-c4 could be done under permitted development but 7+ needed planning from council. In some cities I hear licensing applies to 4+. I have one large HMO so got planning and did it to full regs in terms of emergency lighting, exits etc. Not sure I would do another large but am looking at the uptown 6 rooms as my next project. No doubt my planner/architect will set me straight when the time
  14. Hi, I am wondering if I can make use of the new 2 story PD rules to add a side extension to a corner house where the boundary is at the pavement of the adjacent road. I think the answer is 'no' as I read PD doesn't apply if within 2 meters of a boundary..
  15. Agree with both - I am in a similar position to OP but Ltd made more sense as I am growing the portfolio and re-investing profits - there are plenty of advantages to having a LTD but it massively depends on personal goals and financial situation so needs a fairly detailed analysis as well as looking for the long term. The mortgage rates are indeed higher but that matters less when you are looking at 100k type loans
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