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Everything posted by ayns

  1. Just had one go through with Santander and was rapid, surveyors turned round in 4 days as well . Great rate also 👍
  2. Hi, i go interest only like most investors, gives you the option to either a) save for further deposits b) pay the money into another yielding instrument (ISA/stocks etc) and the end of the year once tax / costs have all been paid out. I have run capital repayment before and found it tricky to manage maintenance etc with the margin and once you've paid that money, its not coming back the next month if you need it. Plus your debt gets eroded over the years thanks to inflation anyway. I dont estimate, I get quotes so I know the actual costs. Get three firms , get them to give you a qu
  3. Ha Nottingham is crazy in some areas, some of the growth is insane over the last 2-3 years in some places and places are selling like hot cakes. Played into my hands working the agents every week and getting them to message me when the contract was signed on something, when it hits right move your already hours behind
  4. Yeah I think a lot of people have cottoned on to the amount of money that’s been pumped in as stimulus and effort and funds the government will go through to keep the housing market moving upwards. They know how integral the property market is to the economy in general, brits put huge emphasis on property prices and if their houses / investments are going up in value they know people are likely to increasing spending in other areas. ive had an offered accepted today, was going to buy two places in the 3 months , but have decided to get one now (that I paid asking price due to its
  5. Mandy Waby. - https://www.veracityfp.co.uk/our-team/mandy-waby-mortgage-adviser Sorted a re-finance for me and just about to arrange another btl for me
  6. On that basis , I’f I was doing that now , I’d really want to understand how the agent measures any trades work that’s been done (do they get pictures sent to them to share with you etc?)
  7. Good skills. I’ve too made a decision to up an offer I had made by a few grand to get a property. Re-capped the numbers and the reasons why it’s a great purchase and went for it. As has been said above, either do and get on with it or wait, both come with risk, but I’ve never been the “what if type”. 👍
  8. Personally, I would just get the agent to do the basics and arrange your own insurances, mortgage advisor, trades people etc etc (unless your investing remotely).
  9. Like what? I paid 10% plus VAT with my previous agent now I self manage and paid them a finders fee. The most important things you need 1) Deposit stored securely 2) Water tight contract 3) landlord insurance 4) boiler cover or funds aside for that. I would shy away from one of those guaranteed rent agents FYI , if thats something they are trying to pitch. I didn't have the best experience of the agents quality control around what work was done to the house when they managed it, i went through a refurb and as a result amassed some good plumbing / builder / electrical contacts so chose to manag
  10. howdens was brilliant for us and I think with everything for 8-9 units came in under £2k. Personally I have found that the trades like magnet or howdens as well , you can obviously get replacement doors easily as well, not so much with ikea
  11. Obviously know nothing about the property, 1 bed/2bed house / flat etc, however that yield does seem quite low. I've just rented a property of mine with a value of £115 and its gone for £650 pcm. Also, this is obviously a personal thing, but i look at net yield , what would be net yield be? Yes capital gain is a consideration in the medium / long term, however I cost all my investments based on ROI and factor in minimal capital gain, the weekly rental is much more guaranteed and it'll be a combination of saving that rent and re-financing that lead to buying future places..unless you are doing
  12. I’ve had similar experiences. Just started viewing the last 4 weeks and hoping to get a deal done this week following an offer I’ve made. Personally I’ve taken the view of what it is worth to me. I’ve offered asking price on something that will net me £5k pa, although to be honest if they wanted £5k over I’d bid it costs me an extra but in deposit but the opportunity cost of missing out is greater. if you’ve been missing out for 12 months, I’d go back and look at how much those early day properties are worth now 12 months on, that’ll help you put more competitive bids together.
  13. Yeah very true. In fairness I have been looking at more 70s type houses and many that are in rentable condition have be at B level. Yes some of ours are Ds and as you said the cost of improving to a b is totally disproportionate to house value for 0 ROI
  14. Umm..I’ve been looking at older properties that are a D and checking the epcs to see what’s required to move them to a C. The only older properties I’m looking at are post refurb so slot of the easy but expensive wins (windows / boiler) etc have been done. I’m not in the BRR just wanting to buy and hold. do you think it’s to greater gamble to be considering older properties at all?
  15. In my chosen investment area it’s pretty much all terrace houses, old rail mans houses etc. The 2025 deadline has got me thinking, what impact is the EPC deadline of 2025 having on your buying for investment decisions? Obviously unless you want to BRR, an E rating is a must, however am I being overly cautious analysing every EPC cert to see what would be needed to take that property to a “C”? like a lot of government initiatives, are some people assuming the 2025 date will come an go due to floors in the scheme around not enough funding and too tighter deadlines to get quotes e
  16. Hi, Where I am investing the market is bonkers, talking all viewings gone within 12 hours of a property going out to market and some mad price increases being banded around. Im in the east midlands, just missed out (luckily you may say) on a property thats gone for £160k , 2 bed, had 5 offers on the table, which means its gone up 60% i the last 2.5 years from 105 and went for nearly 10k over the guide price of £150k . Its happening all over the place and everythings getting listed with a guide. The city I am in is an area where strong rental demand exists however historically propert
  17. Also mate, depending on your strategy, but people get really hung up (me included) on time to buy, should I shouldn’t I etc. If it’s a good area and the numbers add up for either cashflow or capital growth you will rarely regret buying somewhere, you can always change that decision in the future by selling or re- financing, If you never buy, you can never get back that time that you have lost. Even if you did a flip and couldn’t realise you re-finance straight away for example, there’s always silver linings in that you could rent it for 12-18 months , again yes wouldn’t have flipped it straigh
  18. What are you struggling with specifically? First thing I have done when I have decided I want to get 4-5 properties under my belt to aid retirement, is to listen to every podcast on here. I’m lucky, I became an accidental landlord in a northern city so I guess I’m further on than you, however you cannot put a price on research. Even the simplistic things, have you listened / researched about the highest growth Uk cities? Have you then taken, Leeds for example and checked out all the places available for rent within a reasonable budget. Example - say you have £30k deposit,
  19. I'm buying personally for the next 3 or so properties and will re-assess my goals after that really. Happy with the prospect of a mix of personal and ltd in the future as personal is long game for pension etc and if i went Ltd it would as you mentioned progress to cover 50% of my income ideally.
  20. hi yes this is a bit of an older thread, I opted to borrow the money as got a great apr deal. Plus I dont have any other debt at this stage and I got advice that for credit rating its handy to have something. We refurbed and re-financed so managed to get a good bit of money out of the property as well that we can take forward to another deal
  21. Hi Dave, great thanks for posting that, its a much comfort if anything! and you are right there is a difference between running an investment / property company and investing , as I said I would be more in the investor camp short term however if / when my life evolves and I decide not to chase the rat race, I could allocate more time to property if i decided that was right and would then expect the returns etc to adjust accordingly. Yes i have a bit of experience which helps me see a longer term view. I bought my first place in 2006, at the peak of the bubble at that time. 18 months late
  22. yeah i guess it depends on what you want out of it doesn't it. For now I think really I just want to get a few more places in the area that I know well and I know that capital gain is coming (mines gone up 20% in the last 4.5 years and lots more investment and travel links are coming). I know that may not be the "smartest" way of investing, however with time challenges for the next few years , i feel like I would prefer to do that and get the regular income and get a few more footholds in that area with strong capital gain, than wait till I have more time and the perfect deal comes up and pote
  23. I guess i'm just questioning hitting the button on go really, some may call it procrastination :0). I've just re-financed a property so I know what the true value is. Is there anything wrong with paying what something is worth if you are 100% confident in capital gain and the ROI yield is good. Again this is based on actual experience of owning a property in the area, not surfing rightmove. Suppose I'm want to live the BMV / re-finance dream, but just cant see it happening, so my plan is to rely on the ROI from my two properties, plus capital growth and a bit of savings over two years to
  24. I'm in the position to make another couple of investments and just planning how I do that. With a full time busy job, young family , to apply a serious amount of time to sourcing is , on reflection , unrealistic. What I would like to understand is; - The area I want to invest in is quite hot due to good capital gain prospects thanks to big investment going into the area. Is it realistic to think that a sourcer will still be able to get me a BMV deal in this area? - In a relatively buoyant area, what % of BMV would you expect a sourcer to get for you in return for their fee?
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