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matthew morrison

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About matthew morrison

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  1. Hi everyone, At the moment my next investment is a long way off, however I have started to think about which area I would like to buy in. I have visited Liverpool on several occasions, my most recent visit was to see one of my mates who is currently a student there. He lived in the Kensington area and paid around £325pcm for the room in his HMO, along with 4 other people, so the landlord is receiving £1625pcm! As far as I'm aware bills were not included in this price and it was up to the tenants to pay their own bills. When I returned home I looked on rightmove and some of the hous
  2. Hi James, Thanks for your reply and the information. I will definitely listen to that podcast! I have found out that it is on a lease "forever" at a nominal ground rent per annum so I'm satisfied with that. Should be completing within the next week. Thanks again, Matthew
  3. Hi, I am going through the process of buying my first BTL property. I had a homebuyers report completed last week and got the results today. The surveyor says that they understand the property is being sold on a leasehold basis. I was never made aware of this and I (rather stupuidly) presumed it was freehold. Does anyone know if I should have been made aware that it was leasehold or is it up to me to have found that out before making an offer? It was never mentioned in the brochure. Thanks Matt
  4. So just nearing completion on my first BTL and have a tax related dilemma. The house is being bought in a family members name and I am providing the funds for the deposit, for various reasons that was my only option at this point in time. When I get the property rented out can the rental and mortgage payments be made to and from an account controlled by me, or do they need to be made from an account controlled by the person who "owns" the house on paper? If they cant come from an account controlled by me, could the family member pay me all of the monthly profit to "manage" the pro
  5. Hi Simon, I'm looking to invest in NE too. Could you tell me the location of your investments? I have been looking at both the city centres and student areas but haven't invested yet. Would be good to hear about your experiences so far.
  6. Nearing agreement on a sale which will be my first investment. Putting it simply the purchase price is £70,000, I have secured a BTL repayment mortgage, using £17500 deposit and borrowing £52500. Estimated rental income is £495 and my mortgage payments for the first 3 years are going to be £255 a month, after that it will revert to £300 according to current interest rates (I know this will rise). This gives me a net of £2150 or 12.2% return on cash after I have paid council tax and insurance for the year. Can anyone critique this and spot any potential problems? Thanks
  7. Thanks for your help Richard! Regarding tenants in common would I need to be named on the mortgage for us to do that? Thanks
  8. Hi, I have been trying to source a property and a mortgage for a few years now as I have the money to put a deposit on a BTL property. It took me a very long time and a few mortgage brokers but I have now got a mortgage offer and I'm ready to place an offer on a property. However, my problem is that as I want to start investing in property ASAP I'm only 21 years old and a university student with very little earnings - only part time work while at university. My mum has agreed to have her name used on the mortgage to buy the property but I will be providing deposit and costs of gett
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