Jump to content

julia urquhart

Established Member
  • Content Count

    844
  • Joined

  • Last visited

Reputation Activity

  1. Like
    julia urquhart got a reaction from bradt in Jobs in property   
    Why not try to get a job in a lettings agency? Get to know the business from the inside  
  2. Like
    julia urquhart got a reaction from geordiemike in BRR How to tell NSC?   
    Where I am there is a certain style of house that is sometime NSC and sometimes standard - so the price tells you a lot. I did not say it was definitive but is one tool.
    You are clearly looking for a way to protect yourself without doing the legwork - sorry to say that doesn't generally happen.
  3. Sad
    julia urquhart got a reaction from thosken in EPC in the PRS   
    I also joined the webinar. The most interesting point was that we will be moving from EPC (blunt measure, based on cost, favouring gas) to EIR (measuring carbon emissions, favouring clean electricity).
    So in order to get EPC C you need GCH & to then get whatever EIR rating they impose you will need to replace your gas with ....electricity!! Talk about trying to hit a moving target!
    So my plan is:
     
    1) Sell all victorian properties that can't get to EPC C without EWI & underfloor insulation
    2) Sell all electric properties that can't get to EPC C without putting back storage heaters
    3) Sell all GCH properties that can't meet the new EIR when that comes in
     
    Result - sell all my properties and invest my money elsewhere. Sorry tenants - heads you lose, tails ...you lose!
     
  4. Like
    julia urquhart got a reaction from victoria-baran in Hi I'm new. Thoughts on investing far from home?   
    I think a dose of realism is never a bad thing - there are a lot of people who think property is easy money and sometimes it is really hard work! I always laugh when I hear people talk about 'passive income' - there is nothing passive about being a LL!
  5. Like
    julia urquhart got a reaction from tom-b in Multiple cheaper properties or fewer higher value properties?   
    I like smaller properties as there is always activity at the bottom of the market - new renters / divorcees / down sizers - and you are unlikley to have both empty at the same time. One bigger house is a bigger problem when there is a void. 
    It also depends on the type of tenant you want - 1/2 bed - singles or couples, turning over reasonably regularly with the opportunity to refresh & increase rent; 3 bed - family, kids, pets, maybe longer term but may end up below market level.
  6. Like
    julia urquhart got a reaction from langie in Multiple cheaper properties or fewer higher value properties?   
    I like smaller properties as there is always activity at the bottom of the market - new renters / divorcees / down sizers - and you are unlikley to have both empty at the same time. One bigger house is a bigger problem when there is a void. 
    It also depends on the type of tenant you want - 1/2 bed - singles or couples, turning over reasonably regularly with the opportunity to refresh & increase rent; 3 bed - family, kids, pets, maybe longer term but may end up below market level.
  7. Like
    julia urquhart got a reaction from nicholas_b in Airbnb   
    My sister does airbnb. She rents rooms in her own house as I believe the original set up was meant to. It works very well for her & she can earn upto £7500 pa on rent a room scheme tax free. I think the whole house Airbnb is likely to come in for some regulation & tax changes as it appears to exploit loop holes in tax and planning laws & remove properties from the PRS. Its not an area I plan to try although serviced accommodation does appear pretty popular on Gumtree!
  8. Like
    julia urquhart got a reaction from david slater in EPC C Delayed by David Amess stabbing   
    Another story on Landlordzone today, reporting a story in the Times, saying that the dates for EPC C will now be 2026 for new and 2028 for existing tenancies.
    Given the apparent number of properties still being rents below an E, I don’t see how they expect all the Es and ads to get to C in this time scale.
  9. Like
    julia urquhart got a reaction from stevie-s in Asbestos Boiler   
    I don't know the legal position but you might be surprised at the cost - I just had a garage roof replaced (asbestos) and the disposal wasn't that expensive. Just need a licensed carrier to remove it and take it to the tip. Worth getting a quote or two.
  10. Like
    julia urquhart got a reaction from russiansergey in Is a 5-year mortgage risky in the current market?   
    I would be a picking a 5 yr now - rates are lower than they have ever been and there is really only one way to go from here and that's up. Also, every time you remortgage you have to pay the booking fee so doing it once saves that. It does prevent you taking more money out but realistically how much could you take out in 2 years? After 5 the equity might be worth taking it out.
  11. Like
    julia urquhart got a reaction from Mark Rocks in EPC C Delayed by David Amess stabbing   
    Story on Landlordzone saying that because David Amess was the sponsor of the bill that aimed to introduce EPC C by 2025 / 8 his death makes it unlikely that the bill will proceed.
    Whilst this does not remove the threat of EPC C it does push the timeline back as the Govts own white paper suggests the date of 2030. 
    So a bit of breathing space for those of us with properties with EPCs lower than C and a bit longer for the boffins to come up with a better solution than heat pumps to reduce our carbon emissions!
    You can read the story here:
    https://www.landlordzone.co.uk/news/bill-to-make-minimum-epc-rules-mandatory-by-2025-unlikely-to-become-law-after-mps-stabbing/
  12. Like
    julia urquhart got a reaction from david slater in EPC C Delayed by David Amess stabbing   
    Story on Landlordzone saying that because David Amess was the sponsor of the bill that aimed to introduce EPC C by 2025 / 8 his death makes it unlikely that the bill will proceed.
    Whilst this does not remove the threat of EPC C it does push the timeline back as the Govts own white paper suggests the date of 2030. 
    So a bit of breathing space for those of us with properties with EPCs lower than C and a bit longer for the boffins to come up with a better solution than heat pumps to reduce our carbon emissions!
    You can read the story here:
    https://www.landlordzone.co.uk/news/bill-to-make-minimum-epc-rules-mandatory-by-2025-unlikely-to-become-law-after-mps-stabbing/
  13. Like
    julia urquhart got a reaction from challisj in EPC C Delayed by David Amess stabbing   
    Story on Landlordzone saying that because David Amess was the sponsor of the bill that aimed to introduce EPC C by 2025 / 8 his death makes it unlikely that the bill will proceed.
    Whilst this does not remove the threat of EPC C it does push the timeline back as the Govts own white paper suggests the date of 2030. 
    So a bit of breathing space for those of us with properties with EPCs lower than C and a bit longer for the boffins to come up with a better solution than heat pumps to reduce our carbon emissions!
    You can read the story here:
    https://www.landlordzone.co.uk/news/bill-to-make-minimum-epc-rules-mandatory-by-2025-unlikely-to-become-law-after-mps-stabbing/
  14. Like
    julia urquhart got a reaction from Adam Hosker in Tenants Already In Situ - Good or Bad?   
    It can be a really good thing or it can be really bad! You need to ask lots of questions!
    Start with the tenancy agreement: what type of tenancy; how long; prove all the right paperwork was supplied; gas safety in place; EICR in place; is it at market value?
    Then the tenants: how long have they been there; any problems paying; do they want to stay; is the place being kept well?
    As long as all the paperwork is correct & the tenants are good then you should be fine but if there are any gaps on the paperwork you might regret it.
    Good luck.
  15. Like
    julia urquhart got a reaction from skv1878 in Tenancy Contracts   
    I would go periodic - and put in a rent rise. No advantage to you to sign up for another year.
  16. Like
    julia urquhart got a reaction from el_porto in Further Advance - Will i get early repayment charge?   
    If you are taking a further advance that is not repaying the mortgage so don't see there would be an ERC. Bottom line is you need to speak to your mortgage holder as everything depends on the t&cs of your original mortgage.
  17. Like
    julia urquhart got a reaction from cam72 in Property in Derby City Centre   
    The area between the city centre and the hospital is a great place for rentals - both students & hospital workers live there. Beware of non-standard construction properties as there were quite a few built in Derby after the war and many maybe coming to the end of their lives - if water has got into the concrete and the steel reinforcing rods have gone it will be an expensive job to fix.
    I prefer houses to flats - you need to be sure you factor in any ground rents etc in a flat as these come straight off your bottom line.
    I would also not buy a Victorian property as your chances of getting to an EPC C are pretty limited without huge investment. If a Victorian property has a C I would be very suspect unless it has GCH & EWI.
  18. Like
    julia urquhart got a reaction from Ellski in Student Lets - Midlands   
    I kind of did this - I had a house which always had one of my kids in & then they filled the rooms with their friends.
    What I would say is that even in this scenario students are high maintenance tenants. They are hard on furnishings, not very good at reporting problems, break things and often have no idea how to live in a house without causing problems. As long as you are close by and can pop in frequently to do maintenance (I used to go in and scrub the bathrooms  & deal with the mould each holiday) and can repaint every year, the finances are pretty rewarding. If you let it out and leave it for the year expect trouble!
  19. Thanks
    julia urquhart got a reaction from john doubleyou in I am looking for a broker ideally in the South East   
    L&C online & free to the borrower.
  20. Like
    julia urquhart got a reaction from jonnyboy in Is a 5-year mortgage risky in the current market?   
    I would be a picking a 5 yr now - rates are lower than they have ever been and there is really only one way to go from here and that's up. Also, every time you remortgage you have to pay the booking fee so doing it once saves that. It does prevent you taking more money out but realistically how much could you take out in 2 years? After 5 the equity might be worth taking it out.
  21. Like
    julia urquhart got a reaction from PoalaMCR in Is a 5-year mortgage risky in the current market?   
    I would be a picking a 5 yr now - rates are lower than they have ever been and there is really only one way to go from here and that's up. Also, every time you remortgage you have to pay the booking fee so doing it once saves that. It does prevent you taking more money out but realistically how much could you take out in 2 years? After 5 the equity might be worth taking it out.
  22. Like
    julia urquhart got a reaction from sam_f3 in Best Way to Approach Investors   
    Unfortunately no money of your own, no experience, presumably no specific skills all make you a big risk for someone else to hand over an investment to. I would recommend trying to get a job which gives you some relevant experience before trying to go this route.
  23. Like
    julia urquhart got a reaction from dino v in Buy cash or get a mortgage?   
    Get a mortgage and put some of your cash into a Stocks & Shares ISA. You need diversification away from property
  24. Like
    julia urquhart got a reaction from helen court in EPC rating   
    The legislation proposes EPC C for new tenancies by 2025 & all tenancies by 2028. At present you are unlikely to get a C on anything other than something quite modern with cavity wall insulation and a gas boiler.
    Plenty of people think the Govt can't bring this in as too many houses won't meet the standard but is that a risk you are willing to take?
    Personally I would not buy anything that can't be got to a C easily until we know exactly what we are going to be asked to do.
    Together with the proposed phasing out of gas this is one holy mess!
    The EPC algorithm is due an upgrade but no-one knows what that may mean so it is a bit like throwing darts at a moving target - blindfolded!
  25. Thanks
    julia urquhart got a reaction from lucie in Pay off resident. mortgage or buy another BTL?   
    As mortgage rates are so low now I would be inclined to remortgage my residential property and using the cash elsewhere. Mortgages are the cheapest money you can ever borrow and rates have never been lower. One proviso - you must be able to comfortably afford your resi mortgage if something goes wrong with the BTL - don't put your family's home at risk.If you decide to buy, don't rush in and overpay, keep a clear head and eventually the right house will pop up.
    Good luck
×
×
  • Create New...