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  1. Simon, appreciate your comments, all makes sense. So in essence a portfolio landlord will still have access to the usual BTL lending but just have to jump through some more admin hoops! thanks again James
  2. Hi all, Although I only currently have 1 investment property I am at the stage where I can add 2-3 more "lower value" properties or 1 more in my local area (South East). My limited understanding is once you go from 3 to 4 properties you then become a portfolio landlord, thus require to have one pooled mortgage for the whole portfolio. My understanding is this is more expensive? is this the case, and if so, is it roughly +2% to what you can get on individual BTL properties? My second question is how do you transition to a pooled mortgage? For example I will have 3 individual mort
  3. I also had a similar experience with TMW last year after they pulled out at the last minute on a deal which meant we had to get a last minute bridge loan, costing me around £10k more. Their reason for the rejection: "the property was marketed as below market value". I have just re-mortgaged the property and they were the recommended lender from the broker. I gave them a second chance and they were fine to be fair.
  4. Thanks both, that is reassuring and also sensible! James
  5. Hi all, for those familiar with this new legislation can you confirm in the below example whether another test would be due: New tenant arrives in Sep 2021, electrical certificate done. tenant leaves 3 months later in Nov 2021 and new tenant arrives in Dec 2021. My understanding looking at the rules is a new test would need to be carried out even though one was done 4 months earlier. Has anyone had the test done yet, and if so, what was the cost? I am getting quotes between £200-£300 for a standard 3 bedroom house, albeit it is in the South East. thanks James
  6. Morning, I was a chartered accountant who worked in practice for a few years but no longer do so and now own my own SPV for property investment. My advice would use some of the free accountancy software that is out there (I use wave however I believe they are no longer supporting non US companies) but there are others. Essentially these will auto populate trial balances, profit and losses, balance sheet etc. All you need to do is enter the bank statement data and can also use it to generate sales invoices if you need to. Having software like this is helpful for you as you can see how the
  7. Hi Paul, I’m not a sourcer but work in and around that area and am a property investor myself. I also work for a company who own a few builders merchants all over the south east so if/when you do find a property that may need renovation get in touch and I will ensure you are looked after. all the best. James
  8. Blatant down valuations are a hot topic at the moment. House prices have boomed in the last 9 months with properties selling for close to asking price etc etc, but valuations have been some 20%+ down on market values. Having concrete comparables means nothing at the moment and it is infuriating like you wouldn't believe! I absolutely understand the nervousness around the short and mid term outlook in a post COVID world, but surely you cannot ignore the comparables? It makes much more sense to be consistent with valuations and not play Mystic Meg with your crystal ball. If lenders ar
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