Jump to content


New Member
  • Posts

  • Joined

  • Last visited

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

nicholas_b's Achievements

Established member

Established member (3/5)



  1. Hi Barry, If I understand correctly what you're asking: Benefits don't have a standard allowance Benefits fall in to two categories - means tested and non means tested. If she is on means tested then income will impact benefits. If they are non means tested then her income doesn't matter. There are also rules around the maximum savings someone can have before their benefits are cut or stopped, this extends to assets and not just money in the bank. Hope this helps.
  2. Hi, Not sure if anyone can help me here, but I'd be interested to hear others experiences. I had 2 BTL fixed term mortgages come to an end and I was waiting on a remortgage of them both with the same lender, BM, and they decided not to move forward with them...after 2 months of jumping through hoops... I've been stung with paying 300% more on top of what I was paying before on each... My broker advised its hard for portfolio deals at the minute. I'd be interested to hear others experiences going through remortgaging as a portfolio landlord including LTV, range of options (or not), rates quoted etc. I'm also interested to hear what you are being quoted on LTD BTL deals, and if the property being below EPC E will hinder me. Thanks in advance Property Hub community.
  3. That's fantastic. I find it fascinating because I had pre conceived ideas, that were totally wrong, and it's also thrown up things I hadn't thought of. Very impressive occupation rate. Appreciate Covid would have been a key factor. I have been doing more and more research over the last few days. I think I would outsource it all based on the above. I hadn't heard of that company before so I just had a quick look at them. I don't live near anywhere that would be suitable for short term lets. Really appreciate all the help and advice. Fantastic insight.
  4. Thanks Ollie. That's incredibly valuable, especially around the varying options. May I ask a few questions? 1) Is it a similar process and expenditure in terms of getting a mortgage? 2) Do you notice a pattern in your lets I.e. 5 day lets during the week and then 2 day lets at weekends? 3) What's the occupancy average throughout the year? 4) Do you outsource any work?
  5. Thanks Hayley, that's brilliant. I'm a higher rate taxpayer so I'd opt for a ltd company, I was just thinking longer term or if my partner was to finish work and do that side of things. I've got 4 BTL at the minute and couldn't ask for better tenants, they're amazing. But I am interested in diversifying, plus having a potential holiday home would be good, especially as I can work from anywhere. Your input above is really helpful. How do you go about getting the work done, do you source cleaners etc or outsource the entire management of it?
  6. Thanks Caroline. Really insightful. I really am a airbnb invoice, but based on the above, do they take 3% of the value of every booking? And are there any other charges such? It sounds like it is profitable based on your projections. Do you do it full time? I'm mindful of the resource costs, and assumed it would be a full time job to run 2 or 3, either that or incur large costs for the above mentioned. Thanks, any help is really appreciated.
  7. Thanks for your comments guys. What's the current tax set up, does it work like a ltd company? Agree that there is likely to be new regulation and taxation, the govt see the pound signs, not to mention the PRS needs balancing too, which is appreciated. The yields look really strong, appreciate it is risk vs reward, and that's the reason it's a yield. Even at 30% occupancy it would collect a similar amount per annum to a BTL. Stuart, is it hard to get lending on something like that?
  8. Hi, I'm currently on staycation (cheesy word), and as you always do, started to look at the prices in the local area via rightmove (surely it isn't just me that is sad enough to do that?). We booked this through Airbnb...you can see where this is going can't you?! Has anyone or is anyone running one or more properties through airbnb? I've done bits and bobs in terms of research but nothing heavy, so I thought I would test my luck here, for some honest feedback.
  9. Big alarm bells here. I'm all for giving people chances but I think this would be a huge headache for you. For me, the reason you have checks is to give yourself an understanding of whether they are likely to pay or not going forward, if they have both failed it would be a no from me. 6 months upfront means nothing if they dont pay and it takes 18 months to evict. If they were to damage the property then this financial hassle would be compounded further.
  10. Excuse my ignorance around stocks, and also me side-tracking from the initial subject. Who do you invest via, is it direct, is it a bank, or is it through specialist organisations. My knowledge around S and S is limited at best. Do you effectively invest and trust it is going to increase and you can take money out yearly or something? If you invest 50k, get a 10% yield, so say for example 5k per annum, that wouldn't be greater than capital appreciation on a property would it? Or am I missing something?
  11. You are over thinking it a little, but you are right to question how it is determined. Your assessment was spot on...previously it may have been 100k, and it may now be 105k, that is part spec but also part inflation, it just doesn't seem like inflation because the previous one at 100k sold relatively recently... but inflation isnt yearly in property, it is constant. The house price growth is inflation in it's own right, so property inflation could be 5% swing month to month, rather than 5% per annum. If there has been no change in the housing market then the ceiling is the ceiling, but if the market is increasing like it is now, then the ceiling will increase on a regular basis. Ceilings generally increase when asset classes increase which is what we are seeing now. Quantitative easing drives asset prices, and when you compound the amount of this QE that has gone to savings (because nobody could spend it) then there is more available for houses...to make it grow further you have immense demand pent up and a low stream of supply... so again this will contribute to an increase Lots of factors as you can see. But if you do your calcs based on the current ceiling at least your figures will be safe, and the calculations will give a clear indicator as to whether it is feasible as a deal.
  12. There was a guardian article about something similar to this, today. Where you recieved a form of govt support, any mortgage or remortgage application was rejected. It will probably differ from lender to lender and person to person because all circs are different. You may be able to get one but there are definitely restrictions because you took govt support, its deemed a risk, because their perception is that your susceptible to changes and will face difficulties if you encounter a problem or change in your circs. Banks are very risk averse.
  13. Hi, Ceiling prices are different to how prices go up through inflation over time, like your dad's would have. Ceiling prices reflect what you can get at the current time. It is always possible to go beyond the ceiling price, spec dependent, but the reason there is usually a ceiling price is due to matters not related to the house I.e. location, demographic of potential buyers, what is nearby etc. The ceiling price is a good indicator of your max return, if you spec it so it is 10/10... and if yours is the one that goes beyond the ceiling then great stuff, but base it on ceiling and if it is above then great stuff, it is extra you didn't account for. Ps you definitely make your money when you buy... even in a hot market.
  14. Not too complicated. Having a tenant we know will definitely look after it and maintain the payments, because they've been a tenant for X amount of years, and fill the one they left with another tenant, so no void. It just minimises the risk in the high end value property.
  15. Thanks David. Good advice as always. I'm a higher rate tax payer and my JV is a basic rate tax payer (he has a few in his name and one in a limited company). By sitter I mean taking one of our existing tenants and allow them to move in to this proposed property for the same rent, so they get a bigger and better house but for the same value. Obviously we would do the AST and make them aware it is for a specific purpose and we would move them back to another one after that period. I'm not familiar with ATED? The value of the property would be under 500k both purchase and future sale. We are aware of all the stamp duty requirements.
  • Create New...