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Dave T

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    Dave T got a reaction from Jeremy JC in Getting rid of a tenant - can you recommend a professional who can help?   
    Your friends best bet would be to get a S8 Notice served on the grounds of rent arrears - this way it doesn't matter if he has done all or any of the other stuff that he should have done, and it's 2 weeks, instead of 2 months. It is a bit more complex, so probably best to get a specialist to do it. I can't recommend a specialist, but it needs to be one who is good a S8 evictions.
    Good luck!
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    Dave T reacted to Simon Allen in Financial Freedom/ Mortgage controversy   
    Good question and easy one to answer if you do it the right way. In your example, you are getting £3,000 per month so you are now classed as a full-time landlord and income is evidenced by tax returns. Lenders fall into four categories with the number of years tax returns required:
    Three years  Two years   One year Three months income evidenced by bank statements The number of lenders reduces as you go down the list. Also if the lender you have offers product transfers, you can go onto another product as no further underwriting is done.
     
     
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    Dave T reacted to Simon Allen in Can directors of a Ltd company be chased personally for debt?   
    Yes, they can and yes they will if there is a shortfall after the rental property has been repossessed and sold.
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    Dave T reacted to haf1963 in Can directors of a Ltd company be chased personally for debt?   
    To get a Ltd BTL mortgage you will pretty much have to give a personal guarantee so i would say yes they mortgage company can/will come after you personally. I would say its very low risk as the mortgage company will start by selling the property and taking the proceeedings. I have had to do this personal guarantee and cant say I am very worried about it - as its pretty difficult for a LTD company with a few properties to go bankrupt to be honest.
    It is possible to get a BTL without the personal guarantee via specialist lenders or after the Ltd has a proven/profitable track record.
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