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noel andrews

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  1. Hi all, TLDR: Would a cash investor care about the lack of a FSW1 fire cladding form if it's in progress? I own a 2 bed apartment in Stevenage bought before the Grenfell tragedy and the focus on cladding. It's a five storey building (ground floor apartment) that is in the process of obtaining the FSW1 form (think that's right) to confirm the cladding is safe. Right now this is an insanely long process likely to take another 6 months or so. there's only a few test labs in the UK all are backed up. Ideally I'd like to sell due to a change in personal situation. Mor
  2. Hi all, So my wife and I bought a BTL a few months ago, jointly owned, joint mortgage. I want to do the declaration of trust and the form 17 so that all the income goes to my wife. My solicitor said: Although I am familiar with declarations of trust I had not heard of form 17. When I looked at it online it deals with joint ownership and states that it is to be used for the income tax treatment to follow the actual beneficial ownership, rather than be treated 50/50.For this reason I believe that you need to change the beneficial ownership. Please do send me any relevant li
  3. Thanks @n holman for the super rapid response. The deal i'm looking at is in East Float Quay. Great looking properties, already tenanted just in an area that's long been talked about development and not yet anything happening. Seems good opportunity by the long talked about building and investment going into the area albeit if they do build another 15,000 residential units then whilst that might boost prices it also brings in a huge ton of stock that might make selling difficult for some time. A situation i'm in already with another investment. Thanks for the in
  4. Jumping in on this too @n holman @matt lewis How's Birkenhead treating you? Got an option on something that needs a rapid decision and on many conventional metrics the area scores very low however it's that possible chance to be in early on something good that's tempting!
  5. Hi all, This is probably the only place in the world I can post this without being battered for '1st world problems!!' My Wife and I have £50k to invest (possibly a touch more). I already own 2 x BTL properties one in Devon and one in Stevenage. We are NOT owner occupiers (rent in Devon is crazy cheap relative to value of the house so makes better sense to rent) which causes some challenges with some mortgage companies. Our plan was to buy a holiday let down here in Devon that would also act as a future base for us when we start to be a bit more locati
  6. Thanks Simon, really appreciate that. Interestingly it was a specialist tax advisor that gave me that advice!! As you say the reality of achieving that with a mortgage company is somewhat different!
  7. Thanks @debbie franklin Just realised I didn’t word that well. id be lending to a ltd company that was one of the partners of the llp that I think avoids the tax charge. Very keen to hear from anyone that has any views on the mortgage situation ref deed/declaration of trust.
  8. Hi all, I'm currently working towards buying a holiday let in the next 3 months and am trying to make sure I structure things correctly as the deposit funds are coming out of my Ltd company from being an IT Contractor. I spoke with a tax advisor this week on a free consultation call who advised that I could create an LLP with my Ltd company and Me as partners. He also said I could lend the money from the Ltd company to the partnership interest free to fund the purchase. So far, so good, nothing revolutionary here from what I knew. Then he said
  9. Hi Lisa, how did your thoughts and analysis go on this? we are starting to consider a Holiday let as would also give us a U.K. base for when we start travelling for 6 or so months of the year. Lots of spreadsheet and costs work to do but intrigued where you’ve got up to.
  10. Hi all, Looking for a range of opinions on my current dilemma. I have 2 x BTL properties. Property 1 - 2 bed mid terraced modern house in Devon, Rents for £675, Value £175k, ROI of just over 5% once all costs are taken into account including things like building a fund for replacement boiler etc. It's bringing in around £2k per year gross profit before tax. Property 2 - 2 bed flat in Stevenage, Value £210-230k ish, rents for £800, Just bought this after a horribly delayed purchase process. Washing its face but not stellar, hoping rents rise a little
  11. Hi Victoria Ive welcomed pets (cats and small dogs) in my two bed modern mid terrace house in Devon since I started letting it out five years ago. My thinking has always been to help people stay as long as possible. My last tenants may however have changed my mind. All was fine, they moved out and I completed the checkout inspection as normal. Returned the deposit within a few days of them leaving. One week later with a batch of hot weather the house started jumping! My new tenant had already moved in and had the horrible experience of a pretty heavy infestation of
  12. Hi Tim Thank you, that's massively appreciated. It's all back between YPC (the sourcers) and the developer to come up with options but whilst that's happening I will definitely pursue some of the ideas above. Many thanks Noel
  13. Hi all So 8 months delayed by new converted flat in stevenage is nearly ready to complete. It's part of a conversion of a large ex office building that's now five floors of flats in the town centre. So off I went happily to visit today, all broadly alright aside from one fundamental issue The single bedroom looks a lot smaller than I read from the plan. In the image attached I read that the small dimension should be 2084mm IE just over 2 metres so plenty of room for a normal single bed (1.8m ) along the small wall. I lay down in the room today and it's significantly less than 1.8m let alon
  14. Hi paul I use wave apps to handle my accounting which is completely free and it has a companion app for scanning receipts. It then ocr's the info and imports it for you to verify straight into the tool. It's like a free xero, not quite as functional but pretty full features, 8 run my Ltd company through it including vat so does the job! Thanks Noel
  15. Hi all Sorry for the delay not been on the site much recently, will get some time soon and post a detailed update and journal. Briefly im currently progressing with a purchase through BTL. Original intention was to do limited company route I'd investigated accountants and fees ranged from £750-1200 per year in costs but more investigation needed Financing didn't initially seem to be that much of a challenge and deals were reasonable. I was offered 3.7% fixed for 2yrs with a £2k fee. Lumpy fee but decent rate Reason I'm not going Ltd route is because of time, with only a short time to com
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