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Everything posted by onkar

  1. Hi John, Yes, the additional Stamp Duty costs will apply to any additional property purchases, regardless of your property strategy. The only scenario where the additional Stamp Duty would not apply is if you was planning on selling your current Residential property and buying a new Residential property to live in. Some people use a 'residential flip strategy' to avoid additional stamp duty. This is where they buy and live in a run down property that needs a full refurb, do the refurb, sell it, and move into another run down property and so on! Probably not the best strategy for some
  2. Hi Dennis, Thanks for trying to visit my Ltd company website, but I do not have an active website. Just the email for now! Cheers Onkar
  3. Hi John, You have a great opportunity to pull out some good capital, which would allow you to start your property portfolio. Let's perform some calculations for when you are ready to re-mortgage in 2 years time. Assumptions: Property value: 500k Mortgage remaining: 200k Pull out capital to 75% LTV (Common LTV for most BTL, some are even doing 80%... allows to pull out more cash but higher interest rates). In 2 years, your LTV will be 40% (200k/500k). This means you can remortgage to 75% and take out cash to the value of 35%. This means you could borrow
  4. Valid point! Perhaps you should wait for the event up North later on in the year like Rob as mentioned.
  5. With all the FREE and extremely valuable content that Property Hub has provided over the many years, surely £100 for the day is absolutely worth it right? Fair enough if the tickets were in excess of £1000's, like some of the companies out there...
  6. Yep, I was. Looking forward to the entire day but the sessions around the mortgages and stories from the 4 investors sounds very interesting!
  7. Just booked my ticket to the Property Hub Live Event on Thursday 30th April at Spurs Stadium. Who else is coming?
  8. Hi Andy, I have purchased 2 off market Leeds apartments that are due for completion in June this year. Not sure if the Agent has any more left. Send me your email and I'll include you in an email to him with an enquiry. Thanks Onkar
  9. Hi Whitney, Welcome! Sounds like a good and interesting plan you have put together. The Ltd company route is something I have taken too. I am assuming that you will want to invest in your BTL's OUTSIDE of London, simply due to the prices. Is that correct? If so, do you still plan to renovate these yourself? Cheers Onkar
  10. Hi Steven, I've recently started using a broker who seems very promising, has a bunch of his own properties and so far so good. Message me if you want his details. Thanks Onkar
  11. I don’t think the rates are that bad if I’m honest. 3.39% for a 5 year fix on a BTL via Ltd company, standard fees. (This is currently what my broker is arranging).
  12. With a good broker and good solicitor, you should find several options for your requirements. It just means that you may have to pay a slight premium in getting it resolved.
  13. The extra tax you end up having to pay due to not being able to offset your mortgage interest as expenses (IF you are declaring) should more than make up for the difference in the extra costs associated to running everything as a Ltd company. For me, it's a cleaner solution. Personal is kept personal and properties is kept properties.
  14. "but was wondering do you need to factor in the extra 3% surcharge on the average SDLT too?" Simple answer: Yes.
  15. I use a combination of Rightmove and Zoopla, then do additional research on house prices via something like Mouseprice. I have also heard people mention Gumtree from a perspective of finding BMV opportunities and having direct access to the seller by skipping the agent. But I am not convinced on this route. I am yet to come across a legit opportunity on Gumtree. I don't know what seller would want to advertise a PROPERTY worth 10's or 100's of thousands on something like Gumtree rather than going through the proper and proven channels of Estate Agents even at a cost of several %. Would lo
  16. Hi! Few reasons why I went down the route of investing via Ltd company: My current personal income exceeds the 40% tax bracket, if I start purchasing properties in my personal name then I face the issue of automatically paying the 40% taxes on the property income profits. Solution to this was to run everything in a Ltd company and only pay the Corporation tax on the profits, keep the money in the company and continue to re-invest it, giving me full control. (I do not need to drawdown the profits, not yet anyway). Mortgage expense changes that were brought in a few years back w
  17. From an investment option perspective, start with a standard BTL. You'll learn a lot along the way, maybe even make a few mistakes. I feel a BTL is the safest option enabling that "win". With this under your belt, then look at other strategies if you have any in mind with the remaining funds.
  18. Hi Matt, I am also looking for something similar. Same requirements as you so that I can track the yearly lifecycle of a property. It seems that most software/apps are focused on rent management rather than the property asset itself. Please let me know if you find something! Cheers, Onkar
  19. Hi All! Thought I would introduce myself, it's always good to expand your network especially in the property investment sector! I wouldn't consider myself a newbie, but I do feel like I am learning something new every day! I am 30 years old and originally bought 2 BTL properties around 6 years ago in my personal name and set on them for a good 5 years. Last year I decided to sell the 2 BTL properties (made some good profit from appreciation) and decided to setup a Ltd company which I would use for all property investments going forward. In my Ltd company, I own 1 BTL a
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