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About LLotus

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  1. Hi I’ve only just noticed this was in the brokers email back then, (PLEASE SEE PHOTO) so you hit the nail on the head, I didn’t realise that even mortgage brokers “specialised” , so therefore I am looking for a good broker who can help me with my first mixed use property. Now there’s a bit more of a complication or it might be to my advantage ? I’m sure you’ll let me know... although I bought the property with separate tenants renting the shop and the flat, so therefore the whole building was bringing in rather good rental income combined, the situation has changed with the shop tenant
  2. Hi, I’m looking to get a BTL mortgage on a mixed use shop with flat above that I bought outright in June. I purchased this through my limited company and I heard Rob & Rob say on a recent podcast that more lenders are adding more products to the market now. My own business bank (Barclays) did offer me a 60% LTV back in October time, and this was considerably better than what my broker could find for me at that time. Back in October I also approached Aldermore, as I’ve got 2 x other BTLs with them and have been with them about 4 years, but surprisingly they said they cou
  3. There’s no leasehold when it’s a joint freehold btw...
  4. Share of a freehold is generally good, much better than leasehold.. it just means all the property owners on that plot of land have a say in every thing that’s going on... so you are a the mercy of your neighbours as such I think,,, not ideal but much better than a distant company dishing out service charges Willy nilly... Just get great at interpersonal skills and you’ll have influence to your benefit ... probably....
  5. Hi I’ve just bought my first property with tenants in situ..June this year...it is a risk factor,, (risk of they aren’t actually keeping up rent and it’s in arrears), but tenants in situ can also be a great factor I think, (they’re paying religiously), instant rental return, but how do you really find that out before buying ???... .I do have 2 other properties, but I lived in them over years, scaled up, moved myself to better properties, rented them out and so I know those properties well. My letting agent chose and referenced both older properties to let out and no problems so far.
  6. I assume your still living at home ? Get a second job is the fastest way to boost income. At the age of 27 I was lucky enough that my dad borrowed £20k on my behalf for a deposit on a £58k house as I was only earning £14k a year. This is all back in the year 2000.... now I was used to a certain standard of living at that age, I was lucky with the privilege of living at home being fed etc for very little contribution a month. But the minute I bought this first house it occurred to me that I immediately needed a lodger, all cool as it was a 2 bed.. no drama... but to keep up what I was use
  7. Hi my solicitor I’m sure can help you, his names David Lee RMLegal in Southampton, ask to speak to David lee and say Lisa Grafton recommended him, he will look after you, it’s a small firm, but very good and thorough in my experience https://rm-legal.co.uk
  8. I’m not sure what the uplift is as once I’d handed both properties over to the agent, they set the rent, one tenant is on part benefits as well, but the part benefits tenant has been great in that they never complain, they’ve been in about 5 years now with cats, the other property has never gone empty either, ... slight frustration as I wanted to correct some bits after last tenant left, but I didn’t have time as new tenants were so keen they took my small bungalow for a years tenancy without even viewing it in person.. with dogs... plus another tip the agent said the were “key workers” and th
  9. I’d personally get friendly with the freeholder if he is the brother, it’s always better when you have some insider info about what’s going on and it helps you to understand. the occupant sounds as if he has mental health issues. Has your tenant complained to you about it ? It would be for your tenant to complain about noise abatement etc If it was that bad as there’s not a lot you can monitor when you don’t live there yourself.
  10. Use a letting agent, I’m actually in your area of the Uk and have used Your Move for a about 5 years now and I can’t fault them. I do also allow pets in my two properties, so a little more rent comes in and they usually stay longer as well. I’ve found a letting agent takes away the worry for me as I made mistakes going on my own gut instinct in the past.
  11. You have a few months left yet ! I’ve often bought properties in December when everyone else is concentrating upon Christmas, although in saying that of course Christmas looks cancelled right this moment! I always thought winter was a slightly better time to buy ?
  12. Hello everyone, so I’ve recently bought my first mixed use property, a shop with a flat above it with separate tenants in situ. Previous elderly landlord has moved to USA, leaving behind unpaid water bills to the tune of around £2500 for water and £1200 for waste water... Tenants tell me they were being charged 90/10 split by the landlord in favour of the shop which I believe is quite common when there is not a split separately metered water supply. Now I’ve been having neighbours and the shop tenant report various “stories” and minor problems about the tenant and her teen
  13. Hi, I can’t make the St Albans meet up tonight andWondered if anyone wanted my ticket for free, not sure if that’s allowed, but I’m sure someone will soon say so if that’s the case.
  14. Hi Conrad, thanks so much for responding, they accepted the offer, but I started wobbling on it A couple of days later, as it was literally the 3rd flat I’d ever looked at. Then the estate agent seemed to be putting pressure on me over the phone and was verging on being rude in all honesty, so it made me suspicious, I told him I wasn’t 100% sure now as the estate agents had also suggested I view the property rather than myself having found it online nautrally...
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