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  1. Has anyone been able to get through to Property Hub lets since July 29th? I'm getting desperate as I've had no response from voicemail (left 5 over 10 days) or 4 (since July 29) emails (have even escalated to the Robs and senior management). I need to return a tenant's (they manage) deposit by yesterday and am very concerned! Thanks! Mike
  2. Hi all, Any nuggets of wisdom greatly appreciated! I'm due to file first accounts soon at Companies House on new Ltd Company set up for purchase of an off plan property that has experienced years of delay. I intend to use the deposit as a director loan. 10% was put down on exchange in Aug 2018, balance due on completion, estimated May 2021 Question is around how to record that as a loan: On purchase? On accounts now, dated to exchange? Also, as since company set up end 2018, there's been no other transactions, can I file dormant company accounts? Thanks in advance, Michael
  3. the link to The Mortage Works Calculators - https://www.themortgageworks.co.uk/calculators I'm also trying to find a spreadsheet I can input 4+ properties into, that can show me impact of limited company choices. I had a Property Tax Hub session, however, reviewing again the consultation report provided now a decision needs to be made is disappointing. Although initially seeming thorough, is actually about 90% general info not specific to my situation and the remaining 10% about my situation doesn't map out enough scenarios to make an informed decision
  4. I've been researching this recently also, and Michael Bennet (+447710845882) and from our initial consultation last week he seems really good, knowledgable and down to earth. Do mention me if you get in touch, thanks
  5. Many thanks Kevin for a very thorough response! I've read your other post and having emailed them along with some other recommendations from friends and expect to be talking with them today or tomorrow. In answer to your question, it's my main residence I'm seeking to re finance, in order to invest the equity into a self build, ideally keeping ownership of this main residence during the build process (1.5 years estimate), and living there until I can move to the new property I've built and live there as my main residence (hence avoiding CG Tax), then renting my previous residence as a BTL. So I am kind of buying a new main residence, only I'm going to build it myself.. I guess this makes me a 'main res' borrower as it's finance on my main residence I'm seeking, in which case I may not have enough of the right income, so perhaps I need a new strategy? Sounds like a good broker and accountant team could potentially navigate the lenders requirements and me a deal
  6. Desperately seeking a financial wizard/accountant/bookkeeper to help me prepare for my first re mortgage to release equity for a self build / BTL strategy I have a salary of £26k incl overtime, plus around £20k of self employed + rental income (commercial property sub lets, lodger and parking) I've been doing my own tax returns for years and as I'm so conditioned into maxing my expenses to pay as little tax as possible, I feel it would be wise to employ a suitable wizard with a sound understanding of the current requirements of lenders to give me the best outcome. I need to be sure what types of income, (specific to my circumstances) will be considered valid by potential lenders so I can submit 1 tax return at the end of jan, and the next at the start of April and satisfy the 2 years requirement for self employed My current mortgage is guarantored and expires in April 2016, I would like to get this going beforehand however and am not tied into a mortgage deal, on the SVR currently I'd like to keep my flat to let, and use the as much of the 400k ish equity to self build, and possibly to buy a cheap ish BTL also if possible Can anyone kindly make a recommendation? Many thanks! Mike
  7. I've been looking into this for some land that i'm interested in, found some useful tips for knocking on doors: Be polite. Don't bring up your real estate needs first either. Talk about the weather. Your car. The dog. Their lovely home. The great trees..., boy, my wife and I would love to have a place to call our own like this...how did you find this place?...Wow, that was smart… Let them know up front that you are NOT an estate agent or working with one be pleasant, not pushy, and be patient, ask if they didn't get back in touch with you, would it be okay to call back in a month? Roll play it till you've got a presentation down pat Whatever you do, the first sentence should put them at ease and make it clear your intended conversation is about their lovely house.
  8. Hey Mick Welcome to the Hub, It's fantastic what you are doing, well done! I'm particularly interested in equity release also at this time, just how much I can take out of my flat to get the ball rolling on a self build project. On latest valuation (yesterday) it's worth 625, with 195 balance - which should give me enough to go on.
  9. Thanks Rob, Very kind to welcome me, what a fantastic community and resource this is here, thank you and congratulations! I'm working on a strategy at the mo for an equity release from my flat hopefully to put into a self-build which again probably isn't the standard path on the hub, nethertheless I'll post it and see what the wonderful feedback I can get
  10. Hi Roshan, I've rented out a space in East London for 5 years now, demand is good as there are lots of luxury apartment blocks springing up and the council has a policy not to allow on street parking to these new blocks. None that I know of have their own car parks either, so I'd say: Check out demand parkatmyhouse website for current prices, and Gumtree Good Luck
  11. Hey Katy, Sound like you have a fab strategy! I'm gearing up for a refurb soon and have been looking around for a decent isn preadsheet to start with so I can make less mistakes and be organised from the off. Might you, in the spirit of the hub kindly consider sharing yours? thanks!
  12. Hi, I'm Mike! I'm renting rooms, parking, music studios and developing commercial property, laying plans for BTLs in 2016. What you've done in property so far: Developed 2 Music studio spaces in Zone 1 London (Commercial Lease) Rent out 2 rooms in London Fields Rent out parking in London Fields What areas you invest in (or want to invest in): Elephant & Castle, Hackney, Acton What your plans are for the future: My 7 year interest only mortgage on my 2 bed flat on London Fields ends April 2016. Being Self employed, I am looking investigate all options, projected to owe £170k at this time and may be forced to sell. (Current Valuation £500k by Foxtons). At this time i'd like to move out of London, buying a home PLUS 1 or 2 BTL properties. I am starting now commercial viewings to develop (1500 sq ft) artists studios, which I plan to get a 25 year lease. Any skills or knowledge you've got that other members might benefit from: Setting up sound/music facilities . Good listener ;-)
  13. After a long and frank discussion with my former tenant I knew that the right thing to do was to return his deposit in whole. This has been a good learning experience for me
  14. Hello lovely people, An otherwise good tenant in a small commercial space left last week leaving a costly ceiling repair for me to sort out. He reported the leak only a week before leaving as he'd agreed I could show the unit to a prospective tenant. He said it had been leaking for "about a month". The roof was repaired two days later. Turns out the damp has spread over most of the ceiling and it's meant a replacement, costing me £500 and days of my time to fix. On a standard ast, with £300 deposit. I'm new to this situation being a relatively new landlord and being newly educated in win-win deals really want to get this right! I'd love to hear anyone's thoughts! Thanks. Mike
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