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matty c

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  1. Hi Alastair I have been on a couple of viewings myself and speaking to the Project Manager, he informed me that the warranty company are on site very regularly and have insisted on the build adhering to strict regulations (and yes he would say that wouldn’t he). I guess I was just also referring to the fact that it’s in the warranty company’s interest to ensure that the build conforms to their standards so they’re not paying for defects for the next ten years. I am willing to accept that I may be completely wrong here. Do you have any experiences to share?
  2. Hello I'm just about to complete on 2 new build flats in Liverpool. The property will be protected by a 10 year structural Build Zone warranty. I'm wondering whether to bother with a survey, other than the valuation survey provided by the mortgage company. I'm no expert on properties by any means and I'm wondering whether I might miss things doing my own 'snagging' that a professional might identify. Does anybody have any experience of employing a professional company to 'snag' a new build and whether they felt it was worth it? Or will the strict building inspections that t
  3. Hi Stuart Thanks very much for the detailed response. I do think you have slightly misinterpreted my main point/question though. My point was less about Broker's charging a fee and the costs involved in being a broker but rather the argument of choosing a broker who charges a fee over one who doesn't on the basis that such brokers are more likely to provide you with a truly objective opinion of the market. My point is that this argument doesn't hold water, precisely for the reason that all brokers receive commission from the lender. So, regardless of whether the broker charges a
  4. Hi All What's the consensus on Broker Fees? I remember listening to a Podcast where the 2 Robs were discussing this. The view was this: if anything, they'd rather go with a broker who charges a fee. The rationale being that you would be more likely to get a truly independent service, where the broker wasn't pushing you down a certain path because there was something in it for them. They would be truly looking after your interests and get you the best deal from the whole of the market. I bought this theory and could see sense in it. However, what happens when you discover that the br
  5. Hey Derek Thanks very much for the link and the information. Very useful. As I said, I'm going to call them in the new year so will find out more then. It does just sound like a money-making scheme though. Once you've registered, what are they doing to ensure that you don't mis-use that data? That is the key aim here isn't it but it is really being policed? Thanks, Matt
  6. Hello all Wondering if all Landlords have to pay this and at what stage? My company has received a letter from the Information Commissioner's Office, stating that it is not registered with them. They say the company needs to pay a data protection fee in order to be able to hold customers' (tenants') details on a computer. Is this everyone's experience and do all Landlords have to pay it? I have no problem paying it, I'd just never heard it discussed anywhere before in this context. The other point about this is that I won't be holding anyone's details for at least another 6
  7. Hi Conrad Many thanks for your response. I am just weighing up all my options at the moment. My initial thinking was a BTL mortgage, taken out in the Company name but then I started to wonder if releasing equity in the family home would be a more economically efficient way of doing it. I do have more than the 10% deposit - easily enough to cover the remaining, say 15% I'd need to put in on each flat I'm buying then I'd ideally like to use the rest to invest in other properties. The idea of setting up the Ltd company was to allow me to offset the mortgage interest to my Corp
  8. Thanks for all of the advice guys. I have spoken with my accountant. What I hadn't appreciated was that I couldn't offset the loan interest to tax if I release equity in my home as the money will have been lent to me, not the company. This would defeat the whole object of setting up the company. So it would seem that the advantage of the lower interest rate on the family home loan would not outweigh the disadvantage of then having to pay the full interest on it versus the slightly more expensive mortgage in the company name and being to offset the interest to the Corporation tax bill.
  9. Hi fellow Matt Thanks for the response. My property is worth about £330k and I’d be looking to borrow roughly £198k for 2 Buy to Lets actually. I hear that you have raised the equity for deposits but I was questioning whether it was a different story if it was to actually pay the balance for the 2 Buy To Lets. Great news if I’m able to do it. Thanks, Matt
  10. Hi all. Looking for some advice. I'm planning to purchase a buy to let flat off plan in a company name. I have enough cash to pay the 10% deposit. I don't have a mortgage on the family home and so was thinking about releasing equity in that to fund the rest of the purchase. Are there any rules against doing this or percentages I have to stick to? I'm wondering because I'd be essentially taking out a mortgage on my home to fund the purchase of a Buy To Let and I didn't know if that was allowed. Thanks in advance
  11. Hello Looking for a recommended Solicitor who has experience of off-plan purchasing through a Limited Company for conveyancing. Ideally, a company who is on the majority of lender panels. Thanks in advance.
  12. Hello I have reserved 2 apartments in an off plan development, which is not due to complete until Summer 2020. I paid non-refundable reservation fees on both. Long story short - I asked a broker to check for me that I'd be able to get a mortgage before I reserved. The broker said 'Yes' but unbeknown to me, this was just their opinion. They hadn't actually asked the question of any lenders. When they did ask the question the answer from many lenders was 'No'. Reasons varied from the development not being in a prime city centre location, through there being no established second hand m
  13. Hi MarkC One piece of advice I can certainly give you (from experience) if you are looking to buy anywhere in and around Liverpool City Centre, before you put any reservation/deposit fees down, double/treble check that a mortgage lender is willing to lend on your particular property.
  14. Hi Dennis Thanks for your response. When you say you have paid less for Land Registry, is that because this was a while ago or because your purchases fell into a different price bracket? I was of the understanding that these fees were fixed: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees My investments are both in the £100-200K range. I was more concerned about the Company fees, which my Solicitor explained were fees that the mortgage lender would insist on if buying through a Ltd Company and I had just never heard of this. But if this is stand
  15. Hi All I've engaged with a solicitor for my first investments, which is an off plan purchase (2 apartments in a new build block) using a Ltd Company and a mortgage. They have provided the following costs and items and I just wondered if all of these items look pretty standard for this type of purchase and the costs reasonable. The Solicitor seems pretty switched on and professional but just thought I'd ask, this being my first. 1. Legal fees - £850 plus VAT of £170. . Second property legal fees at reduced rate of £500 plus VAT. 2. Land Registry fee - £190 x2 3. Land Registr
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