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lynn

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About lynn

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  1. Hi, I'm about to rent out my first BTL and think I'd like to manage it myself, I have the time and will make sure I keep up to date on legal requirements etc. If I had an issue, for example, non-paying tenant, would there be an advantage to having an agent?
  2. Hi, I'm just getting my first BTL ready to rent out. I'm going to use a letting agent to find a tenant but I'm not sure if to use one thereafter to manage the property. I only have one property and I have plenty of time to manage it, just not sure if I should. Any advice please? Thanks
  3. Hi, I'm soon to rent out my first BTL and am not sure if to buy white goods or not? Do tenants usually want them provided? Thanks
  4. No expert here, but I've recently taken out a BTL mortgage through a broker. I work part-time, have a fluctuating income and earn less than £25k, and although I had to show my payslips etc, the broker stated that there was no minimum income limit.
  5. I had a similar experience with a house I was looking at for a BTL. The estate agent said that as it was a corporate sale, it would stay listed until exchange of contracts. Another one I was interested in had "we have accepted an offer of £**, anyone interested should submitting a higher offer before exchange". This property stayed online for months and the offers slowly crept up. I'm not sure how you proceed with legal and survey if you know someone may come along and offer a higher price.
  6. Hi Dean, I'm just buying my first BTL too, exciting isn't it?! Have you accounted for the cost of a survey if you're having one? Also, maybe accounting for any periods when the property is empty between tenants? Good luck, Lynn
  7. I'm no expert, but the interior decoration etc looks pretty good to me. Kitchen looks modern, needs a new light. If the bathroom suite is white, there's nothing wrong with it, except maybe the basin, get some new taps and clean up the grout. Remove the lounge fire and maybe the brickwork thing. Tidy up the garden. Aren't the windows already upvc? Do the radiators need replacing?
  8. Hi, I'm about to buy a house for £118,000 which needs a little bit of work, and so with fees it will be about £128,000 altogether. I have £110,000 cash and so need to borrow £18,000. My original plan was to move in and do it up and sell on next Spring, but now I'm not sure if it will sell for enough if house prices drop in the near future. Therefore, I may have to live in it for longer until the market picks up again. My questions are: 1. Is it best to get the £18,000 by bridging loan? What if I can't sell in the bridging loan period (I may not be working by then and so not be able t
  9. I recently supplied my broker with my pay slips and have been given a mortgage in principle. When I apply for the Mortgage, will I have to supply my pay slips again?
  10. Hi, I am about to buy my first BTL and I know I'll have to pay the higher stamp duty as I'll own more than one property. When I sell my main home and buy another main home, will I have to pay the higher stamp duty again or the lower as it's my primary residence? Thanks
  11. Thanks very much for your replies, very helpful. I'm seeing some properties tomorrow and I'm very undecided. My original plan was to buy a BTL that needed some work so I could hopefully add a bit of value. However, as it's my 1st property maybe I should be a bit more cautious and go for a property which has tenants who want to stay. Can I ask for any thoughts on these please: 1. 1970's house which needs some updating (new kitchen cupboard doors, painting, carpets), in an ok area, currently empty, would rent for £700. 2. Ex-local authority terrace in an ok area, currently rented for £
  12. That's great, thank you. As it turned out, neither of the properties were what I was looking for, but I'm looking at a few more, some of which already have tenants in which I'm guessing is a bonus.
  13. Hi, I'm viewing a prospective buy to let next week which needs some refurbishment. My question is, how long do I have to do the refurbishment before I need to get a tenant to satisfy the mortgage lender? Is there a set time before the property has to be advertised as for rent? Thanks, Lynn
  14. Hi, Does anyone have any experience with rental properties in the North of East Anglia, North Cambs, South Lincs? Thanks.
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