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About pauldavidthomas

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  • Location
    Fordingbridge, Hampshire
  • Areas I invest in
    Winchester, Eastleigh, Dorchester
  • Property investment interests
    Most aspects, but I do tend to like to purchase horrible places (at the right price) and getting in and refurbishing them.
  • My skills
    Building, Design, Plumbing, Carpentry, Finance...
  • My goals
    To have a decent income without working too hard. Problem is... I find it hard to not work !
  • Interests outside property
    Photography, Dogs, Walking, Travel

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  1. Go to your existing lender to see if they will go to 75%, over times lenders criteria change.
  2. I think it's either Leeds or TSB. I've a few debits out of my property account, not sure which is which !!
  3. That's probably what I will do to ensure I have access to funds. The reason I'm in that situation is because I have always been more cautious with my LTV's over the years, also, always doing capital works to property when I buy it. And the mother of all assists..... Time !
  4. I had a property I had incorrectly bought many years ago. I didn't have the correct knowladge and wasn't well advised. It only had a bloody natural stream running under it. In the end I sold it, fortuantly not at a loss. The person who bought it did it up made 100k on it, which I'm fine by as I could not be arse to work in the area the house was located in. I then took the funds and did other things with it.
  5. Nor do I. That's kinda why I was going for the set up a draw down on an unencumbered property. At least then I can put most of it to work without risking not being able to get to the main chunk of the money. I hate having money sitting not working. The only risk element is if the lender changes it's lending criteria after setting up the agreement OR pulling the deal as and when the market changes.
  6. It is a little beaten up, but that's because I drove into on car ( front collision ) and then reserved over another car in a car park - they had parked right up my arse. The guy was very fu*ked off with me, which was totally understandable. He came and had a right go at me - which I took without saying anything other than apologising. He wanted to pop a little hello on my hooter, well, until I got out and he realised I"m 6'4" and I had my work boots on. I said nothing and let him vent, well, I had just reversed pretty much right over his car - and that's why old people have fully comp. !
  7. I use it as my work car as I develop property, it's great for towing when you need some more sand or bricks - or whatever is needed. It's a 110 and all the rear seats removed so I can get materials in. To be honest, it's my fav ever car - I've had 911's ect. At the moment the two cars I have are both appreciating in value ( through luck ), the other is an Audi RS4 B8.5 ( so the last of the normally asperated 4.2l ). When I was younger, I was like you, I had cars on finance and it really is the quickest way of loosing money or signing up to loose money over 2 or 3 years. The landrover was
  8. Go to the GAS Safe register and look at the pictures to see which person seem least iffy.
  9. Slight buldge would be failed cavity ties. This could be because the coping stones / damp has failed in the wall above. Problem with solving is access to the building to do the works.
  10. Dry Zone DPC works perfectly well. It's also something you could do yourself with a little research.
  11. As it's a non-combustible material they can do that. It could be the case that you will get a reduction in the cost of the house because of this situation. I buy and refurb stuff, so the only concern I would have would be if the cavities were blocked and you had any damp pulling up the wall. Normally I would removed bricks from outside the property, clear the cavities and ensure the damp course was not bridged. You can do it from inside but it is most costly. Go get a protimeter, see if you have damp in those walls ( down stairs ) and if you do, quote from builder to do above job (
  12. Just get a crappy old car that goes from A to B and then you don't need to worry about it. Don't worry about what people think, but happy in the knowledge your investing in property and are going to be chicken dinner winner in the future. I've got a very good asset base and get such pleasure driving around in a beat up landrover defender.
  13. I don't think they would be mad about it. Just don't tell them. Please keep in mind I bought and renovated a house without any insurance ( was bought cash) so I might not be quite normal in the head.
  14. The main issue you will have is complying with the regulations of HMO properties - fire doors, escape routes, interlinked smokes, thumb locks on internal exit doors ect. The HMO lending pool is smaller than normal and it's also more of a pain in the arse. You could go simple and just get a nice family in. Just depends what your motivation is ? If it's cash flow - go HMO.
  15. I'm 54 bought two through the pandemic. I'll keep buying, it keeps my mind active and is a good investment stratergy. Don't worry about your age. The upper limit of when companies lend finance is increasing all the time. My parents are in their late 80's fit as fiddles and financially secure enjoying life. Granparents lived past their 100's and I've just had my first child who's now 3 months old. 59 is still young.
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