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adrian b

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About adrian b

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  1. Hi, I'm a property investor based in the Fylde and focused on the Blackpool, Fylde Coast and Preston Areas. It would be great to meet/zoom with other people involved in property in this geographic area - is anyone aware of any established property groups in this area (I can't seem to find any!) if not would be great to hear from anyone who might be interested in joining one if I set it up? Adrian
  2. Hi All, quick question about Insurance for flats. I have a few that are leasehold and the buildings are covered by the block insurance in the service charges. They are unfurnished and I'm happy to self insure for any loss of any fixture and fittings not covered by building insurance for my property. What concerns me though is liability insurance to cover any claims by the tenants for injury or loss that is not part of the normal landlord cover you get with a house policy. Or I guess if they do something stupid that causes injury or loss to others in the block could I be liable.
  3. Hi All, quick question about Insurance for flats. I have a few that are leasehold and the buildings are covered by the block insurance in the service charges. They are unfurnished and I'm happy to self insure for any loss of any fixture and fittings not covered by building insurance for my property. What concerns me though is liability insurance to cover any claims by the tenants for injury or loss that is not part of the normal landlord cover you get with a house policy. Or I guess if they do something stupid that causes injury or loss to others in the block could I be liable.
  4. Hi - you need to add stamp duty £1.5k and any refurbishment costs to your capital investment - virtually all properties will need something spent on them to get ready for letting, even if its just basic decorating & tidying. There may also be broker/finance fees unless you get your mortgage direct. The 19% yield is before maintenance & voids (I budget at 1 month/year rent for voids and 10% for maintenance), another factor is that the lower down you go in the housing market the more tennant payment issues and potential damage you will get. I don't have experience of Liverpool but t
  5. Hi, I'm purchasing a property through a Ltd company using Molo finance - its at the point of exchange and completion and, rather than incur unnecessary costs, I had delayed until there was visibility of when the covid restriction will be lifted. I just received the bombshell below which pushes it back to at least July even though the restrictions could be lifted before then! They are dressing it up by saying that the Government has suspended the property market but it seems more to do with Molo's appetite for risk & internal operational issues than preventing Covid (the property
  6. Hi all, Apologies for the long email but i'm at my whits end.... I have a leasehold flat in a block of 16 in a converted Victorian building. A Ltd company has been set up to deliver the obligations of the lease (collect service charges, insure, do repairs/mtnce etc) it doesn't own the freehold but each leasehold flat has 1 share in the Ltd company so an equal share (in theory) on how the money is spent. The ltd company has appointed a management company for the day to day running of the block and they are paid out of the service charge. Major spend is authorised by the directors
  7. Hi all, Apologies for the long email but i'm at my whits end.... I have a leasehold flat in a block of 16 in a converted Victorian building. A Ltd company has been set up to deliver the obligations of the lease (collect service charges, insure, do repairs/mtnce etc) it doesn't own the freehold but each leasehold flat has 1 share in the Ltd company so an equal share (in theory) on how the money is spent. The ltd company has appointed a management company for the day to day running of the block and they are paid out of the service charge. Major spend is authorised by the directors
  8. Hi all, Apologies for the long email but i'm at my whits end.... I have a leasehold flat in a block of 16 in a converted Victorian building. A Ltd company has been set up to deliver the obligations of the lease (collect service charges, insure, do repairs/mtnce etc) it doesn't own the freehold but each leasehold flat has 1 share in the Ltd company so an equal share (in theory) on how the money is spent. The ltd company has appointed a management company for the day to day running of the block and they are paid out of the service charge. Major spend is authorised by the directors
  9. Hi, I'm about to start the process of taking out a mortgage on a property I bought for cash (its in a limited company) and also looking to re-mortgage a couple of other buy to lets (held on own name). Previously I've sourced mortgages myself but now (due to it being within a company) most of the best deals are via brokers. Any recommendation for whole of the market property mortgage brokers? Also what are the typical fees charged by a broker (I have spoken to John Charcol and they charge £1495 in fees for the LTD company mortgage on top of the lender product fees which seems v
  10. Hi - I bought a property at auction last week which will complete in 20 days. Plan is to do a refurb then put into a rental portfolio. I understand there is a general rule that if I complete the purchase in cash I will struggle to mortgage the property within 6 months of purchase 'the 6 month rule'. Whilst I have the cash to complete I want to get the property onto a BTL mortgage asap so cash funds aren't tied up for 6 months has anyone got any experience of this? Is it better to use bridging rather that cash to convert to mortgage? Do you start the mortgage application now s
  11. Hi There, just set up a limited company for future property development/renovations and a separate one for my rental business. Does anyone have any experience of the 'Construction Industry Scheme'? Does this apply to limited companies employing companies to do renovation/mtnce work? Or is this just main contractors on major construction jobs? https://www.gov.uk/what-you-must-do-as-a-cis-contractor/who-is-covered-by-cis Just having a mild panic that I will need to become an expert in tax collection not to mention making it even harder to get trades interested in taking a job
  12. Hi There, just set up a limited company for future property development/renovations and a separate one for my rental business. Does anyone have any experience of the 'Construction Industry Scheme'? Does this apply to limited companies employing companies to do renovation/mtnce work? Or is this just main contractors on major construction jobs? https://www.gov.uk/what-you-must-do-as-a-cis-contractor/who-is-covered-by-cis Just having a mild panic that I will need to become an expert in tax collection not to mention making it even harder to get trades interested in taking a job
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