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Djpix99

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About Djpix99

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    Established member

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  • Website URL
    https://myjourneytofree.wordpress.com

Profile Information

  • Location
    Leeds
  • Areas I invest in
    West Leeds

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  1. Hi JB, I’m based in West Leeds, not too far from this property. Answers to your questions: 1. It’s rare to see flats in Leeds with yields in excess of 8%. A property like this is less appealing due to it being sub £50k, so too low value to get a BTL mortgage. 2. I’m confident in Leeds prices continuing to steadily go up. There’s still lots of redevelopment going on in Leeds, so more jobs coming to the city. HMRC and Channel 4 are due to open their new offices in 2021 I believe. I personally prefer freehold houses over flats, partially due to a bad experience with a fla
  2. Hi @timburn48 I can't comment on the flats themselves, but more the area. Leeds has a legal redlight district and these flat are on the edge, see this article: https://www.yorkshireeveningpost.co.uk/news/people/map-shows-exact-streets-and-boundaries-leeds-legal-red-light-zone-632439 James
  3. Glad to hear you were successful. I was considering refurb refinance/btl and decided to go down the buy to let route. My reasoning behind this was: Buying a btl first would give me landlord experience making it easier to get future btl lending/bridging in future. The income from my first btl adds £400 per month to my savings, so I can now save faster for the next property.
  4. Hi, I currently have a large 3 bedroom end terraced property which is a single let, something I would consider in the future is re configuring into a 4-6 bed HMO. I'm wondering if anyone could suggest any creative ways to reconfigure the property to get at least 4 HMO rooms without having the costly work of converting the basement?
  5. Hi Rick, Welcome to the forum, sounds like you've made a good start. I'm based in West Leeds, so not too far away. What areas are your properties in? I'm interested in learning more about potential investment areas in Bradford. I've used Bespoke Finance in Pudsey previously and would recommend them. Thanks James
  6. Hi Michael, I'm based in Leeds and have just bought my first buy to let here, feel free to message me if you want any help. To give you an idea of the Leeds market, you can reasonably easily pick up a property with a 6% yield in the £70 - £130k bracket. You can achieve 7%+ yields but it takes some work, unless you want to buy in a not so nice area. Thanks James
  7. @stevem099 I would consider speaking to an independant mortgage adviser rather than your bank if you are looking to remortgage your personal property to pull out cash. I just did the same and the adviser was able to speak to the provider with the best remortgage rate and confirmed I didn't need to have property in mind before completing. For reference the provider I remortgaged with was TSB but i'm pretty sure many other would do the same.
  8. Good choice, I've now been using Starling for a couple of months and it's going well. My only negative is as a sole trader it's hard to seperate capital and allowable expenses with the tagging options available.
  9. @mike westwood Interesting, I considered Tide however was put off as they have a £100k balance limit which wouldn't be an issue for me currently, but maybe in the future.
  10. Hi Giovanna, I'm based in Leeds and in the process of purchasing my first investment property locally. I can't really comment on up and coming areas as its really hard to predict this, however I can tell you some areas I feel are worth buying in; West Leeds - Pudsey, Bramley, Farsley, Rodley, Calverly, Morley North Leeds - Kirkstall, Burley East Leeds - Crossgates South Leeds - Woodlesford, Rothwell Central Leeds - Northern quarter, Southbank The areas I mention above are generally all nice suburbs suited to families and/or young professionals, however Kirkst
  11. I choose Starling Bank as they don't charge any fees for their business account unless you are dealing in cash.
  12. The Costs that I'm wanting to offset against income are: mortgage advisors fee and mortgage product fee (which has been added to the mortgage. I have spend sometime on HMRC website and Google but can't get a definite answer.
  13. @adam-reed I remember reading this article, may help you find the blocks to avoid: https://www.yorkshireeveningpost.co.uk/news/politics/these-six-buildings-leeds-have-grenfell-style-cladding-84369
  14. I'm in the process of buying a single let in my own name, from reading up it doesn't look like any buying expenses can be claimed as expenses when completing a tax return. I've looked around but struggled to find a pretty comprehensive list of what buying expenses if any can be offset, can anyone send me any decent list?
  15. If you are wanting to use the money in a years time then unfortunately the best and safest option is probably to have it in a 1 year fixed savings account. Investment isn't really recommended for short time periods. If you look on Money.co.uk there are some 1 year fixes paying 1.6/1.7%.
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