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About sandrawoodpecker

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  1. We are just about to complete on 2 new btl purchases and the letting agents have suggested we take out rent guarantee insurance. We have been lucky with our existing tenants in other properties who have always paid on time so have never needed it before. Does anyone have this insurance and can recommend if its worth taking out? Also, who do you use? Or is it not worth the paper its written on with lots of get-out clauses so the policy wouldn't pay out if the rent was in default? Any information or help would be much appreciated!
  2. Very highly recommend Ben Weighill from Links4Mortgages, helped us with our mortgages when other brokers seemed to struggle. He's by Sheffield but we did all communication/paperwork through email so location isn't really important. Contact details are 07800 711981, ben@links4m.co.uk. Just about to complete our 4th btl mortgage through him and wouldn't use anyone else. Good luck!
  3. Thank you so much for the information. Can I please check that I have understood this correctly. The ERC charge of £3k to redeem the mortgage can be deducted in full against tax for 2019/20 rather than only 25% of it under S24?
  4. Hi, In January 2020 I remortgaged a BTL to release equity for additional purchases and had to pay around £3k of early redemption charges. Are these tax deductible and if so, what percentage? Any help would be brilliant, thank you
  5. Hi, In January 2020 I remortgaged a BTL to release equity for additional purchases and had to pay around £3k of early redemption charges. Are these tax deductible? Any info would be brilliant, thank you
  6. Can someone please suggest what (if any) proof I need to obtain from a tenant who says she can only afford to pay 40% reduced rent due to CV19. She is self employed so should have income topped up to 80% by Government, there is a guarantor in place. Should they make up the shortfall? Thank you
  7. I've had 3 offers accepted for btl houses and i'm currently awaiting mortgage offers. I'm getting wobbly now about a possible recession and house price crash. Not sure if I should delay things for a few months or so. What does anyone else plan to do?
  8. Thanks for the information Stuart, all very interesting. I'm applying for 5 year fixed rates of around 2.3% and with 3 mortgages in the pipeline any reduction would make a big difference to my bottom line. As I'm in very early stages of purchasing, I've got a little time to wait and see what happens with the rates, if they do reduce slightly then that's a bonus, if not then I've still got a mortgage rate I'm happy with
  9. I'm looking at buying 3 houses about 120 miles from where I live and am looking at letting companies. I'm being quoted 10% plus VAT for full letting service plus admin fees of around £400 to find a tenant. I've found an online company called Lettings Supermarket who seem to do the same as other letting agents but without a high street office and a lower price tag of 6% for full letting service. Does anyone have experience of this Company? Www.lettingsupermarket.com
  10. I've been wondering exactly the same thing so will be interested in other people's thoughts on this. I have just submitted 3 mortgage applications for btl purchases but wonder if rates will drop before I complete on them
  11. Thanks very much for the suggestion , Crewe looks very interesting indeed.
  12. I would really love some input on my situation please as I'm going round and round in circles without getting anywhere. I've owned 2 BTL houses for 20 years and just re-financed to get all the profits out so I have a nice nest egg ready to invest in something new. I've thought about buying auction houses and flips but seem to have settled on the idea of buying some already refurbished houses 'up North' which are ready to rent out. I'm hoping to get 75% LTV BTL mortgages on them and use my cash as deposits. Someone has suggested Hull but I wondered if anyone else has experience there and which areas are best to buy in/avoid. Would you recommend Hull? If anyone has any other suggestions for towns/cities to look at then that would be great as it has been a dream for a long time to be able to do this but I seem to be over-thinking every possible scenario and getting nowhere. Thank you
  13. I'd really appreciate your help please. I'm a complete newbie at auction purchases but am very interested in a lot which is being auctioned on Monday. I'm just reading all the legal pack and wonder how many people get this checked by a solicitor prior to any bidding. I'm no legal expert but it all seems ok except I've spotted the clause re additional seller fees etc which is okay i suppose. Also, the Search pack seems ok except there is an 'Other Influential Factors' section with an issue identified in red box. It appears the property is within 250 m of an area likely to be impacted by environmental constraints - Nene Valley Nature Improvement Area. Anyone come across this before, any help would be fantastic! I've been quoted £400 for a solicitor to read legal pack (deductible if the sale proceeds) but feel that's a lot of money to be out of pocket if I don't win at auction and i'm also concerned that there isn't time to get this legally checked anyway. Any advice please on anything specific to look out for in the docs. House is a repossession lot I think. Thank you
  14. I'm currently re-mortgaging my two BTLs via Ben at Links 4 Mortgages. Very impressed with his knowledge and the service is excellent. We will definitely use him again. He deals with whole of market too. His mobile number is 07800 711981