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julia urquhart

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About julia urquhart

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  1. I think all you can do is make it known to him and /or his sister that you would be interested in buying it if they ever wanted to sell it. However, given their ages, that may not be for 20 years, so why not find another property to start your journey? I would advise against buying it whilst he lives there as this could become very difficult for a number of reasons - not least him failing to look after it & / or pay his rent.
  2. Rents take a little time to react to react to an event like the TFB since most LLs put the rent up when re-letting the property or on the anniversary of the rental agreement. Some LLs would have put rents up in the run up to the TFB and some will be raising them next time the opportunity arises. As other factors will also affect these rent rises it is hard to identify what the exact effect of the TFB was. I think it has probably contributed to rent rises and will continue to contribute until rents reach the point at which they cannot be sustained when they will level off again. Interestingly, Nottingham, which brought in Selective Licensing last year, has seen one of the biggest % rent rises in the country in the last year - showing that additional costs to LLs get passed on to tenants, despite what the Council think!
  3. We do not have enough houses in this country for the people who want them - either to rent or to buy. I believe both house prices and rents will continue to rise until we start to build hundreds of thousands of houses per year. Even if the next 10 years see only modest rises in Capital Values you will have raked in a huge amount of income. Where else do you think it possible to replicate this scenario? As an aside - the Brexit issue is damping the housing market right now so there may well be a lot of catching up in the market once done as well as some short term volatility as we find our place in the new order. My advice - hang on tight, we're in for a rollercoaster but it should all come good in the end
  4. I think that is a really difficult question to answer. I have properties in different areas and the capital growth varies between areas but not in a consistent way. The same is true of rents. The values of both capital growth & yield depend on many factors - location; availability of similar property; local economy; improvements in infrastructure; global economy etc, so it is difficult to predict. I initially invested for capital growth but discovered I was not getting a lot of growth but I was producing income! 20 years on I am producing both! My advice is to buy a decent house in a decent area & keep it to a good standard. This gives you the best chance of both a good yield & capital growth. Good luck
  5. Nottingham is a good place to invest at the moment - rentals and capital values are growing. However bear in mind Nottingham City Council has a mandatory licensing scheme for all LLs in the city centre. I think houses are better than flats because of the uncontrollable expenses involved in leasehold. I also think you will struggle to find good properties for £125k in Nottingham. I would suggest talking to a few letting agents to discover what type of property is in demand & then tailoring your purchase to an area with a specific demand eg family house near good school, city centre location for young professionals, student house near Uni. You could also look at Derby which has a Uni & a big hospital & is cheaper than Nottingham. Not sure there is much on the market at present due to Brexit / election / Christmas - but hopefully in the New Year there will be more. Good Luck
  6. You seem to be between a rock and a hard place. Taking on more debt whilst reducing your income does not seem a sensible way forward. Is it more feasible to make alterations to your current property easier to live in - downstairs bathroom etc? This might be cheaper than moving. Also, have you checked that you are all receiving all the benefits etc that you are entitled to - this could ease your financial situation. Good Luck
  7. I think there will be a growing demand or bungalows as rentals. The number of older people renting is increasing and once in the PRS they are unlikely to leave. As you suggest, older people may well prefer no staircases and I think the potential for long term rental to this demographic is very positive. The only downside I can see is what happens when they can no longer manage or go into a care home - not quite sure where this leaves the LL.
  8. Given you have been in the UK for 4 years I don't think it will be a problem & I am sure there will be bargains around in 2020. A phrase from the stock market - its not timing the market that is important but time in the market - I think this also holds true for property. It is not a short term investment & there are always opportunities to be had. Just be sure when you start that you have identified your strategy & don't be rushed into different strategy if you can't find what you want initially. Good Luck
  9. Hi Hubbers, Has anyone any experience of Mould Mites? We have then in a house we have rented out for 6 year with no previous problems. There are not a huge number & they are tiny but clearly they bug (ha ha) the tenant. I have checked for obvious signs of damp or mould - none; turned up the heating & supplied thicker curtains. Is there anything else I can do? Thanks
  10. John McDonnell has now revised his plan so that only ‘large LLs’ will be forced to sell to tenants! Labour policy seems to be if you’re rich we are going to take your money away from you and if you’re poor we’re going to give you money for nothing. Where is the reward for hard work and prudent investing? Heaven help us all if Labour ever get into power!
  11. There are 2 ways to look at this: 1. Straight numbers - do the numbers stack up for your proposed idea? ie will it cost you more or less over a set period of time say 10yrs 2. Emotional - do you 'need' to be free of the Govt loan? Do you 'need' to own as much of your house as possible? The path you take will depend on how long you want to live in this house, your own attitude to risk, your ability to pay off the mortgage, what else you need money for etc. No-one can really advise you on the best action to take because the best financial decision may mean you can't sleep at night! I would look at the costs over 10 years but then also listen to your gut. Good luck
  12. Look at the party manifestos - any policy changes made early on should be listed here.
  13. There are other options. Housing is a good option for people who like the whole LL experience and this is a property forum - but it is not for everyone and there are other options. The stock market, over time, averages 7% and if you are good (or lucky) you can do much better than that. It is important to diversify to protect your money - I have a portfolio of property and an investment portfolio. The Govt offers much better tax breaks on financial investments than property currently and there are other advantages such as taking small amounts of profit when needed. My daughter is paying paying her own way through Uni from about 3 yrs investments into Fundsmith by way of a JISAs, which has returned 15-20% a year without needing a new boiler or paying SDLT! Don’t become tunnel visioned and look for opportunities everywhere. Good Luck
  14. Beware - sometimes redemptions are difficult if a fund does not keep enough cash - rather than be forced to sell a building they can close redemptions which may cause problems for you if you want your cash. do you research thoroughly before investing to know whether you are investing in physical buildings or shares of building companies. good luck
  15. The LL should provide a safe and comfortable environment but there is a difference between damp caused by structural issues and damp caused by how a house is lived in. Student houses have a large number of adults living in close proximity which produces extra condensation due to cooking, showering, washing etc individually. If the mould and damp is caused by the way the house is used rather than a structural problem the LL will not be able to fix it and it will be up to the tenant. Also, due to the short term nature of a student let you need to get it sorted quickly so being proactive yourself is the best option. Unfortunately some LLs see students as cash cows and will make little effort to solve the problem and students often don’t realise there is a problem until they have moved in. Sometimes a few small changes can make a big difference.