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donvigeo

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About donvigeo

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  1. I’ll like people to advise and share their experience of hands-off BRRR strategy. I am interested in this but currently have a full-time job and doing such local won’t be possible- I am in Aberdeen where property prices has been failing since 2015 due to declining oil price. The plan is to employ the services of a sourcer to source, advice and take on the project from start to finish
  2. I am so confused right now, I will appreciate if anyone could advice on how the best way to approach this, house.
  3. After some advice about what to do next with this. I have just had an offer accepted on property in Scotland and currently applying for a mortgage. On the home report the surveyors have identified an issue with the balcony decking and have included a category 3 note ‘The balcony decking contains what appears to be combustible materials. Government guidance suggests that professional advice be sought from a fire engineer or fire safety professional to confirm that structures are fire safe. The market valuation is reported on the basis that suitable confirmation of fire safety can be provided. Purchasers should satisfy themselves in this regard’ My broker is of the opinion that this is likely to be a big issue with a lender and it will be difficult to obtain anything competitive rate wise from the lender if any are willing to lend. I've done a check on the land registry open data site and noticed a similar property was sold in March 2019, however the home report did not identify the same timber decking as an issue. Has anyone in the house encounter a similar issue and work around it without any issue? my mortgage broker isn't filling me with confidence that I will ever get a mortgage through easily with any lender and also feels it could be difficult to resale or remortgage in nearest future as government legislation continue to tighten against combustible materials in buildings. Any advice is gratefully received Thanks in Advance
  4. Thanks Debbie. Can you give more insight please
  5. Thanks a bunch for the response. I take it that the intercompany loan could be structured on a long term with no interest right? Do you foresee if there is an issue tax man side of things if I adopt this strategy ( inter coy loan) say every 6 months as I intend to rapidly build a portfolio
  6. Good morning house, Appreciate this must have been discussed several times here, but I will appreciate guidance before meeting my accountant next two weeks. I currently have a trading company (IT) and have built some cash that could enable me to commence my BTL Purchase. The idea is to take buy one property every six months or thereabout using the money in the Trading Co. I need guidance to determine which of the strategy below is most appropriate tax-wise and the from the lenders perspective. Option 1. Form a new separate Company B purposely for house buying and letting with myself as the sole director and then loan money from company A (IT) structured in the form of directors’ loan at any rate someone said 0% is even possible? My understanding is that Directors Loan needs to be repaid within nine months. Is there any way to structure it for a longer-term period? Bear in mind I intend to loan money every 6 months from Company A for purchase, Is this a feasible option and will HMRC and the lenders be happy with this. Option 2. Form a company B and then make Company A shareholder in Company B. I understand the approach does not incur any interest or loan repayment, am not too clear on how it works though Appreciate this might be long and boring email, I’ll be very obliged if I could be guided, please. Many thanks,
  7. Hi Hubsters, I'm interested in investing Buy to Let in Edinburgh ( residing in Aberdeen just now, so not particularly local) and thought it would be a great opportunity to seek advice on potential areas with good capital growth and rental yield . I am looking at £165k max on 2 x Bedroom flats or 3 Bedroom Houses. Happy to link up with people who have good knowledge of the area and can source as well. Many Thanks Donvigeo
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