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nil-2020

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About nil-2020

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  1. Hi Firstly thank you to the forum and to Rob and Rob. With all my research and property training I have finally managed to get an offer accepted on a great flat and looking forward to becoming a property owner of my first buy to let. I am slightly confused on which mortgage product to go for? We have set up a company and initially we were going for a tracker with no early repayment charge, I am happy with the interest rate but the product fee is super expensive. I have been told that when I want to obtain another product (say after 6 months after improving the proper
  2. Thanks all for your helpful input Yes I have now decided to approach another broker and they have been able to provide more than 1 product so I can make a comparison and do all the numbers.
  3. Hi all I am not sure if this question has been discussed already but would really like your help and advice please. We have recently set up a company to manage BTL properties and have a 25% deposit. We approached a mortgage broker who deals with the whole of market and have been advised that there is only one product available to us with an extremely high interest rate being 4% plus and high arrangement fees. Having done the figures this doesn’t leave us with hardly any income at the end of each month! Can anyone explain why this is and should we do research elsewhere?
  4. Thank you Onkar and Kirsty for your opinions this is really helpful.
  5. Hi All I wanted to thank you for all the helpful tips on this forum which I am forever grateful for the free education. I wanted some advice on whether the consensus is 1. to take out a 2 year fixed and then remortgage for a 5 year fixed; or 2. just take out a 5 year fixed as interest rates are low. I have read this is all based on your risk factors and what you believe the market will be like however my gut feeling is to go with option 1 where as my husband agrees with option 2. Just wanted to gauge your opinion on this topic. Thanks all
  6. Hi All I am sure this question may have been asked before but I would appreciate your open views on this point. I am currently a basic rate tax payer and would like to purchase our first buy to let. My husband and I decided that I purchase the BTL on my own in my name rather than his as he is a higher rate tax payer. (Decided not to purchase as a company being our first BTL investment, rates are cheaper and more mortgage options for BTL) We have done the calculations and worked out that as we will only have one BTL this will not take me into the higher rate tax bracket.
  7. Hi All Firstly thank you so much for this forum it has helped me gain so much knowledge above and beyond my expectations and also thanks to the kind mentors out there giving up their spare time to help others. Secondly I wanted your view on whether to purchase a maisonette or flat? I can currently see several maisonette's much more cheaper than flats but i have no idea what the appeal is for a maisonette in comparison to flat? What is your view and experience? Thanks again all Nilma
  8. My Dad is in his 70's and he has a buy to let property which he has asked an estate agent to manage for years, they are paid 10% of the rent each month. However, my Dad seems to always be doing all the work whenever something goes wrong, he is reaching out to the various builders, plumbers etc and I suggested that he self manages (the same tenant has also lived in this property for many years, located by the estate agent) We contacted the estate agent to ask to terminate the contact and they confirmed in writing that they require 3 months notice for termination and a whole month's re
  9. Hi Ravijesh I am new to the forum and the property podcast. It’s fantastic that you have managed to listen to all the podcasts in 4 months. This is also one of my goals! I would like to know what areas in Northampton you would recommend for a refurb and buy to let? Many thanks N Shah
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