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About ajmalsd

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  1. Hello Desmond, Everybody has their own circumstances and goals. There is no one good structure which fits all. Best would be to consolidate what you have now, how your assets and liabilities are tied to you or any partners, businesses, what funds you are thinking of using for investments, your short and long term goals and strategies you are looking for property investment. With all the information, do reach out to some property related accountant for advice on the best structure which works for you based on the information. Hope that helps.
  2. @sachisd I tagged the wrong person in my previous reply For BTL, you would need to have 25% deposit of the purchase price. It would be stretched to get a house in the price you are looking for. I guess your first purchase would be a BTL mortgage, and not looking for a BRR property? This is why I was wondering about your long term goals if to grow a portfolio. Finding a place with the good balance of capital growth, good rental and below 100k is a challenge
  3. Hello @Sachin Welcome to the forum. I don't think HMO with this budget is feasible and you will not have any lenders available to finance HMO or conversion to HMO as a first BTL. They need to see you already have BTL and/or own property. Can you please elabotate more on your goals and what you are looking to achieve with your first BTL and long term goals?
  4. @vips Purchasing under an SPV for the first time and not being a previous owner is similar to purchasing as a first time buyer with additional fees (stamp duty, solicitor etc). The credit checks will be done against the directors of the company, they will also need to provide personal guarantee even though property will be in company's name. This means the list of lenders on the market will be limited, not many may take the risks for first time starting (Banks would not from what I saw when I tried to check previously but do check with your mortgage broker). Should the company fail payments, t
  5. @harbs getting a personal loan will not help in your case as loans have clause which does not allow the money for deposit for property but if you are thinking as using all of it to buy cash, I don't know, do check the clause. Either way, the interest rate will be high of you do managed to get more than 50k! Getting a loan with a newly create company will not be feasible and will be same as getting a loan as yourself/directors being guarantors taking the loan. Both taking loans will impact your credit score. If you later take any other loan, this will impact on your credit score
  6. @vips If you never owned/inherited a property in your name or co buying with someone before, you will be classed as first time buyer. If you are buying a property with someone who already own a home, you will not be classed as first time buyer. Buying a first property in Limited company does not affect this status.
  7. @kent614 do you mean you use you LTD company to manage the personal property that you own? Or do you mean your LTD company manages the properties that you own under the same LTD company? or you use LTD company to do R2R (adding new properties under it) ?
  8. Have you gone forward with the bridge? 0.54% is low. Do consider also broker, product and exit fees. Do you already have the cash available for the refurb? You will probably need more than 50k deposit as some lenders remove from the loan. Ensure you have more funds for refurbs as it looks like you may need planning permission for extension, right? How long do you expect all to complete? 12 months? Have you considered if you and your you and your friend have time to do all the work once you get the planning permission approved? Catered for at least 3 months for sale if non cash b
  9. It all depends on what you plan to do in future. If you are going to build a website, better get a domain name, then use it for emails. If you want to get started quickly you can start with a gmail/outlook mails and then switch later. Also if later, you want to create more companies, if may be better to create an email address with only part of the company name to avoid the need to create multiple addresses. Though your are investing in the limited company for property, it may not be categorised as an investment company as such due to the nature of business. Do check with your accou
  10. @bwilki10 Can you please elaborate on your goal you have at 55? What do you mean by being sorted out? any numbers you have in mind? I would personally remortgage and get the cash I am confortable with out of the property and make them work for BRR to be able to grow the portfolio faster. With the yeield being good as you mentioned, I would not worry about the rent covering the mortgage payment. If there is opportunity show, I would also do a flip to get the cash to grow faster. You are well ahead with already 5 properties and your own home! well done!
  11. @jake_j_w do you due diligence before to check the area, don't just listen to the agents. Both area looks good as you are doing BTL. I do not own any seaside property. However, I am sure you have already considered some of these points and can help you choose the area which kind of tenants are you looking for? Short term lets, long term, families, young professionals, etc (school close by, and shops closeby, quiet area, parking space etc) do you numbers stack up for both or looking the same? ROI, deposit, cash you are investing since these are flats, ground rents, mainte
  12. @jon213 are they going to be rented? How does the figure stack up for rents? I see you are buying with cash, right? Is there not a possibility to get a private loan for a year to bridge the remaining funds if all the ROI us good? You can pay it back when remortgage? Or maybe ask the vendor to loan you the 20k off the purchase and you give it back after a certain x months, may need to check with solicitor if fine.
  13. @DDProperty your calculation looks good and with the points @dino v mentioned. I think from what he mentioned, if you are not buying under your own name, you probably need to include corporation tax to get idea of your profit - ofcouse, you need to check with an accountant if you want to buy in a limited company or on a personal name depending on your personal circumtances and your goals/strategy for long term.
  14. Hello Anne-Claire. I am also currently exploring SA, with the current situation and lockdown, the SA business would have been impacted. Ofcourse dependting on the structure of the SA business you are setting up, you might have been eligible to some loans which can be used to pay the monthly rent to the landlord. It would mean you would be breaking even or at a big loss since the monthly rent is huge in London (£2,800) plus additional cost, advertising, management etc. I think the SA business would pick up again but many people would be exiting it, especially those impacted heavily an
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