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james champkin

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About james champkin

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  1. Hi all, Earlier this year I purchased two BTL apartments in one of the iconic (but controversial!) Mann Island buildings in Liverpool. I'd been looking to invest in property for some time, researching my options extensively and eventually decided that Liverpool was the right location for me, as despite living near Milton Keynes I was already fairly familiar with the city and so remote investing didn't seem so daunting. The prospects for capital growth also seemed very good and the yields were great. Both of my apartments are tenanted and are achieving good rental yields. However, a lot of the tenants in the building seem to be international students (including both of mine) who are subsidised by their Governments to study in the UK. My slight concern is - although it is by no means a student development - whether this factor might limit capital growth on the apartments over the years ahead? Any thoughts welcome!
  2. Thanks for the advice! I will continue to look for boiler cover but thus far I haven't been able to find a provider that I'm happy with.
  3. Hi! I bought two apartments in Liverpool that completed in April and I bought my Landlord Licence through my management company in their name, and this was slightly cheaper and saved me the hassle of applying myself. However, I was outraged when I discovered that - regardless of when the licence is purchased - it costs the same price (~£400) and expires in March 2020! So those of us who have purchased investment property in Liverpool in the last year have got very poor value for money in regards to the licence.
  4. Hi Adam, Apologies for my slow response! I have received the rental payment schedule and this confirmed that the tenant has indeed been paying a month in advance. I'm still trying to chase my solicitor to establish why they didn't request this schedule during the transaction, but I get the feeling that it's very unlikely I'm going to see that money now. Has anyone else had a similar experience?
  5. Hi all, I'm having an issue with the rental payments on an apartment in Liverpool that I completed on back in May and need some advice! The apartment was purchased with a tenant in-situ until 17th October 2019. It is fully managed by a management company. Everything has been fine until this month when no rent appeared in my account. When I discussed this with the management company, it became apparent that the tenant had been paying their rent one month ahead (i.e. they have already paid for August), and therefore opted out of paying this month to catch up. Therefore, the previous owner of the apartment received a month's rent that they shouldn't have been entitled to. The management company are claiming that it should have been the responsibility of my solicitor to pick this up and I am currently trying to get hold of my solicitor to discuss this, but it seems to me that the management company should have flagged this when I took over ownership of the apartment. The management company has remained the same for the duration of the tenancy. Where do I stand on this? Have I got any chance of getting the month's rent back from the previous owner? And who's fault is it that this wasn't flagged to me? Any advice greatly appreciated!
  6. Hi Matt, Thanks for coming back on this! Extremely helpful response. It sounds like it would be well worth having, provided I can find a local company that provides the service. My investment properties are in Liverpool, so if anyone could recommend a good company that covers that area, that would be fantastic.
  7. Hello, I currently own two BTL apartments in Liverpool. I have a standard landlord insurance policy on both, which covers any accidental or malicious damage to contents by tenants, plus legal cover. I have just had an issue crop up with one of the boilers, which I'm assuming may be quite expensive to repair. My question is - does anyone have landlord's boiler cover and is it worth it? I didn't consider it necessary before but now I'm thinking that I should have purchased it! Any advice welcome. Cheers, James.
  8. Hi all, Has anyone attended the St Albans meet-up? It's the closest one to me (I live just south of Milton Keynes) but I've never attended before and now the Property Hub are charging to attend meet-ups, I'm not sure whether it's worth it. I also invest in Liverpool rather than in the south east, so I'm not sure whether other investors attending the meet-up would be in a similar position. Any advice welcome!
  9. Thanks for the reply, Dino! One thing I am unsure about is whether rental protection is included the management agency. I will be using a management company to fully manage my properties, and therefore will I still need rent protection through landlord's insurance? The only other two aspects to landlord's insurance I can see for leasehold properties are public liability cover (if a tenant injures themselves, as you say Dino) and contents cover.
  10. Hi all! I'm currently nearing completion on two apartments in Liverpool. As they're leasehold, I obviously don't need buildings insurance but I think I still need landlord's insurance to give me rental protection and contents cover. Can anyone recommend a good insurance provider for this type of cover? And how many people bother with insurance like this for leasehold properties? Any advice appreciated! Cheers, James.
  11. Hi everyone, I'm looking to buy my first BTL investment property over the next six months - ideally a one/two bedroom apartment, and I've been looking into purchasing in Liverpool or Sheffield to maximise the potential for capital growth over the next five years. The budget is around £130,000. Yields are important to me but more important is capital growth to allow me to grow my portfolio. Can anyone recommend specific areas within Liverpool and/or Sheffield that are particularly desirable and have a high demand for rentals? Any advice is greatly appreciated!
  12. Hi guys. Thanks so much both for your advice. I think there is a limited amount that I can do to the property to add value in the short-term (i.e. within 2 years) and so it's unlikely that I'll be able to pull out sufficient finance after two years to fund a further property purchase. I guess my question on the back of this would be: how to property investors grow their portfolios quickly when it's so challenging to pull out sufficient capital when refinancing after 2 years? Cheers, James.
  13. Hi guys, I'm in the process of purchasing a 3-bedroom end of terrace property in Northampton but I'm unsure whether to go for a 2-year or 5-year fixed rate BTL mortgage. I know the general way of thinking is a 2-year fixed rate and then pull out some capital after two years to fund your next investment, but I get the impression that this is easier said that done and really relies on a significant increase in property value within two years. A 2-year fixed rate would be cheaper monthly and therefore may allow me to save more, but a 5-year fixed rate would allow me to ride out any uncertainty with Brexit etc. over the next few years. However, obviously it would make it very difficult to pull out any capital from the property for some time. Thoughts welcome!
  14. Hi Richard, Thats a very helpful reply - thank you! I am loathe to give up on the purchase having come this far, and I'm hopefully that Northampton still has a way to go giving the fast trains to London Euston and the comparatively low house prices. I'm trying to look at it like an off-plan purchase - hopefully by the time I complete it may have already gone up in value by a few thousand pounds! Regarding the delay itself, I've been told by my seller's agent that the vendors he is purchasing from have had multiple purchases fall through themselves. Apparently they have now decided to move into rented accommodation, so that's why things have apparently started moving. Although they are still yet to deliver their Property Information File to allow the solicitors to send out the contract packs. But they've been chased hard today! I will definitely start looking into my next potential investment in the meantime - I think that's a great idea.
  15. Thanks for your advice! I'm happy with the numbers but I'm getting a little impatient. On the other hand I don't want to go back to square one and have to find the right property again, battling against a further six months of inflation on house prices.