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fordy9

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About fordy9

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  1. Hi doug we used barclays as they allow 4 directors and also have a good deal of 1st year free banking. cheers
  2. Whats a realistic best rate i should be looking to negotiate with a high street estate agency to sell my property. The property will be over spec as we can get multi fuel stoves, granite / slate worktops etc for cost price. I’m thinking of saying if we can agree a fixed rate of £X then i’ll use you, otherwise i’m happy to use an online agency (purplebricks for example charge £849).
  3. We went with Barclays, zero fee’s for 12 months, 3 directors (which is difficult to find) & account open after 4 working days so a brilliant service.
  4. For thos who have bought property in auction what are the key things you’re looking for when reading the legal pack?
  5. I deal with rental investment & Renovation development (flipping). Twitter - propdeveloper9
  6. Hi All I'm considering putting an offer in on a repossession tomorrow but after speaking to my solicitor today she has said that the time to exchange is up to 3 weeks due to local authority searches. Legally as soon as an offer is accepted they'll advertise the accepted offer price and others could then offer more and I'd potentially lose the property. Has anyone ever took out an indemnity policy against the local searches meaning the 'search' time can be reduced to 5 working days and the risk of being 'out bidded' is minimised? Thanks
  7. Hi All I'm considering putting an offer in on a repossession tomorrow but after speaking to my solicitor today she has said that the time to exchange is up to 3 weeks due to local authority searches. Legally as soon as an offer is accepted they'll advertise the accepted offer price and others could then offer more and I'd potentially lose the property. Has anyone ever took out an indemnity policy against the local searches meaning the 'search' time can be reduced to 5 working days and the risk of being 'out bidded' is minimised? Thanks
  8. Thanks for the reply. whats the no fee unless completion option you mentioned?
  9. Looking to put a cash offer in on a residential repossession next week to renovate & sell. Legally as soon as that offer is accepted it’ll be made public so I need to move as fast as possible to prevent anyone else outbidding me. What is the fastest you can exchanged on a property when cash buying so i know what a realistic timescale is? Thanks
  10. Going to put a cash offer in on a residential repossession next week to renovate & sell. Legally as soon as that offer is accepted it’ll be made public so I need to move as fast as possible to prevent anyone else outbidding me. What is the fastest you’ve exchanged on a property when cash buying so i know what a realistic timescale is? Thanks
  11. In the middle of setting up my own Ltd Property Renovation company. There is 3 of us, all friends who have worked together in the past on various projects. Between us we are qualified & can carry out most trades (other than electric work or plastering, however, we do plaster boarding ourselves & get a plasterer to do final plastering). The plan is to each invest an equal share of capital (directors loans) then cash buy property, renovate on a 16 week schedule of works, then sell all within 8 months (30 weeks) of purchase (hopefully). Reinvest the pro
  12. Brilliant information, thanks for that. So its in my interest to take out £5,000 each year in dividends & could I then 're-invest' that £5,000 back into the business as a directors loan?
  13. Just wondering if anyone on here owns their own property flipping company? Im in the process of starting my own ltd company & have a few questions. Cheers
  14. Darren - Yes they do thanks. Derek - They do but they need a face to face meeting to set up and closest to Newcastle is Peterbrough, thanks anyway. Costs are a bit steep for a business account, all we're doing is using it to hold the cash ready for a property purchase then to purchase materials / bills etc then when we sell all proceeds of sale will be paid back into the account. HSBC want £750 a year for that, seems ridoculous!
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