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sandrawoodpecker

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  1. Hi, I’ve made profit of £20k this year from btl properties and have £12500 tax allowance. I have no other income so can’t offset 20% tax allowance against the finance costs. Can I carry forward this figure against future profits? Any help would be appreciated!
  2. Hi Chris I suspected that may be the case and that’s fine. Would have been more straightforward against CGT but so long as I can claim it somewhere. Thanks for your reply
  3. I’m selling a BTL property and the profit will be in excess of CGT allowance. I will need to pay a hefty ERC charge to end the mortgage early - can I claim this as a cost and offset against CGT amount? Any help or suggestions would be appreciated please.
  4. Just wondering if anyone can recommend a company for rent guarantee and legal cover, thank you
  5. I've credit searched 2 prospective tenants who want to rent my house jointly (privately). One has failed on income and the other has a bankrupcy from 2019 - but has been employed by same employer for 8 years and earns sufficient to cover the rent. They have offered a guarantor (whom I am currently referencing) and paying 6 months rent upfront. Am i mad to consider this ? I am an experienced landlord but have never been in this situation before. Any guidance would be much appreciated
  6. Hi, wondered if anyone uses Open Rent when letting their properties? Any pros/cons to consider? I've been a landlord for 20 years with 4 houses near my home. 2 houses have recently been purchased and let via agents, the other 2 have been privately let to the same tenants for 8 years: they are tired and need a refurb to get higher rent and release equity to enable another purchase. These tenants won't pay the higher rents so i'll need to find new ones. There's a major shortage of rental houses here so i'm confident that they will let easily for good money. My agent charges about £850 to find tenant, prepare inventory and register deposit. As Open Rent has very low fees I'm wondering if that's a good option to try to save some money. Any other suggestions of things to try would be appreciated.Thanks
  7. I've just bought a btl house and the electrician carried out EICR. It needs a very small amount of work to pass so that's OK. The electrician has given me a printed report stating that it is valid for 5 years but has hand written next to this 'or on change of tenants.' ARLA and Government websites state its valid for 5 years but NICEIC say its recommended every tenant change. Who is right?
  8. 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!
  9. 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!
  10. 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?
  11. 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
  12. 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
  13. 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
  14. 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?
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