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RaymanLam

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    RAYMAN

Profile Information

  • Location
    Hong Kong, Kowloon
  • Areas I invest in
    UK
  • About me
    Currently starting off on my property journey and have saved a good amount to get started. Educating myself sufficiently in the meantime before I get started.
  • Property investment interests
    BTL
  • My skills
    Construction
  • My goals
    Financial freedom
  • Interests outside property
    Running, cycling, taekwondo, muay thai, gaming, tech

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  1. Hi all, Just helping to enquire on behalf of a friend of mine here in Hong Kong. They are in a position where they hold a flat containing subdivided rooms and have a mortgage on the property. These flats have been refurbished to an exceptionally high standard last year and they are now considering their options in terms of extracting the equity. Just wondering whether there is the option to remortgage the property without raising too much suspicion and whether anyone can assist with this. From what I understand, the property strictly speaking is not fully compliant to local regulations, but has been refurbished according to the general trend in the area in terms of having an "HMO style" property. The reason why the large majority of these types of apartment are not done according to the local regulations is because of the vast costs associated with it, thus making the option unfeasible for the majority of investors. If they were to consider remortgaging the property to extract the equity, this would require a valuation to be completed as part of the process. In turn, they would have to invite a representative to carry out the valuation. Could this indirectly initiate legal action against the owner? Just wanted to be aware of any repercussions. Thank you in advance for any advice.
  2. Hi all, I have an arrangement with a family member whereby the property was purchased by my sister and essentially "verbally gifted" to me to help me onto the property ladder. We are currently in talks of several scenarios in order to extract the equity/cash from the property in order to help me to build my portfolio. One potential case would be to sell the property and cash in on the current value; apart from the initial capital gains tax, are there any other law/tax penalties we should aware about if she was to transfer a lump sum to me following the sale of the property to fund my property portfolio? Would the situation be further complicated if I was to consider starting a limited company to build my portfolio using the cash received from my sister? Any insight in terms of the most cost effective (and legal) way to do so will be much appreciated. I'm just concerned whether a gift of this magnitude is acceptable in terms of putting a deposit payment on future BTLs in my own name/limited company. Thanks. Kind regards, Rayman
  3. Thanks for your response Julia. What would the terms explicitly state and to what level of information would I have to submit (if any) to the mortgage company should I opt for a BTL option? I would agree with you on the protection of the AST in that sense too. The BTL mortgage is essentially just a bridge for us as we are planning to pay off the mortgage in full within the first 5 years. Would there be any repercussions on letting to my girlfriends parents in that case? Just wondering how thin of ice will I bet treading if I was to take this approach. Much appreciated for your advice! P.S. I'm a newbie investor and this will be my first mortgage so bear with me I things are not immediately understood!
  4. Hi all, I am a UK citizen currently residing in Hong Kong. I am looking to buy a property in Oxford and have approached Liquid Expats to assist with arranging a suitable mortgage for this purchase. I have been told by the advisor at Liquid that I am not able to take out a buy-to-let mortgage and rent to someone outside of the open rental market (in this case, it would be my girlfriends parents). My first question is, are there any repercussions if I was to take out a buy-to-let mortgage and rent to a: friend, family or anyone in my girlfriend's family? Bearing in mind, we are not married and have no legal partnership. My second question is, has anyone acquired a mortgage through Liquid Expats and have any feedback regarding their service or advice? Would be grateful if anyone could shed some light on case. Kind regards, Rayman
  5. Hi all, My sister current has a property with a decent amount of equity in it and is considering passing some of that equity over to me to start my Property portfolio. Is the equity taken out locked for the original mortgage/home owner or can it be passed as cash to someone else, i.e myself? If its the former, I assume the only way for me to access that equity and start my Property portfolio would be to apply for a joint mortgage with my sister. Any help would be much appreciated!
  6. Hi all, So I'm a British citizen and I'm due to marry somebody with a Hong Kong citizenship (and BNO). I am currently living in Hong Kong and have plans to return to the UK to build upon my property portfolio. I have plans to apply for a joint mortgages with my soon to be spouse and build the portfolio together. Would my wife-to-be need to have British citizenship before we can apply for a joint mortgage, or will she be able to apple with her BNO regardless? Rayman
  7. Hi all, I have been verbally gifted a property from a member of family with roughly £200k in equity. My sister is currently unemployed but has a couple of properties under her name. I have plans to sell this property on and use the funds to build my own property portfolio within a limited company by investing in 4-5 properties in the northern powerhouse in the UK in the coming 2 years through a sourcing company. In terms of selling the property, what fees, tax (i.e. Different tax bands) and associated cost do I need to be aware about should my sister sell the property? I would like to calculate the net amount of cash we could take away and plan in more detail for my investment strategy afterwards. Thanks for your time and look forward to hearing from you! Rayman
  8. Hi Andrew, Just wondering if you were referencing TPP119 and the checklist mentioned there. Is there a "tools" section on the property hub website where items such as the aforementioned checklist, calculators and the various trello boards mentioned on the podcast can be found? Would love to access this set of information as I've tried searching in the show notes and could not find the majority of the times! Thanks for all the content. Kind regards, Rayman
  9. Hi everyone, My name is Rayman and I'm an expat currently based in Hong Kong. Thought I'd take action and drop a line in the forums to introduce myself. Aside from introductions, I'm also keen to find out whether the meet ups will continue in Hong Kong once Covid-19 eases? Eager to meet a group of people who's equally keen as I when it comes to podcasts and the Property Hub! Rayman
  10. Hey everyone. I've just listened to this episode too and have started to use Trello recently. Would be great if the template was made available again, I couldn't seem to find it like the poor souls above.
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