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Everything posted by lukel

  1. Hi Mark, no I hadn’t so thank you! I have checked development out and there close to an already build apartment I video viewed this past Friday, thanks a lot !
  2. Hi there! Attention present advisors! I am a complete Preston novice and need help on location advice I am looking at both off plan and new build already build 1 bed apartments from £115k-£125k. Letting looks strong and fast from desk top research, I am looking close to Preston station is that a good area? Can anyone recommend good letting agents? All advice is welcomed.
  3. Hi Tom no I am looking at off plan new build developments / city centre apartments as the housing market seems over priced for the condition a lot of them are in
  4. Hi there, Can anyone recommend any good letting agents I can contact ahead of my viewings this up coming weekend to gage an idea of letting costs and get a feel for the current market?
  5. Hello everyone! I am due to view an off plan new build apartment, is there anything I need to lookout for whilst viewing the show apartment? Any questions in particular to ask the agent or anything to genuinely bare in mind? once letting an apartment / flat can anyone advise re the general letting out process. Does the tenant pay rent, bills and monthly service charges? And the ground rent or does the landlord pay the ground rent? Advice on all the above would be much appreciated.
  6. Hey Julia, Advice is much appreciated as always! Hope your keeping well, you have great advice let me know of any networking events your attending, love to pick your brain more!
  7. Hi all, I am looking to invest into my second BTL and feel Derby could be right what I am after! Andy advice on the good areas of derby for a budget of £150k aiming ideally at working couple, individuals or families. I want to avoid the "ruff" and less desirable parts of Derby, thanks! Advice really appreciated.
  8. Hi Stuart, going back over some old notes. I want to target Leeds again. where on the above list would you advise can offer capital growth, good for attracting working tenants, and has good transport and work links? kind regards Luke
  9. lukel

    Break clause

    Hi Everyone, thanks for the advice and tips!
  10. lukel

    Break clause

    Hi Vineet, not the case at all. My letting agency is super helpful and has been from day one, I have great tenant who has been a dream to deal with and someone I want to keep long term. Thanks for your response have a nice day.
  11. Hi all, my tenancy renewal is coming up when my tenant moved in we agreed a 6 month contract with a review two months before ether tenancy ends, I want to renew as does my tenant , my letting agent has advised if I have no plans in selling than a break clause is not needed, what would everyone recommend, I want to go for a 12 month contract, shall I include a break clause or not?
  12. Hi Julia and Kerry, Thank you both for your help and advice. After discussing further with my letting agent like you both also suggested, we agreed to allow the tenant to make some adjustments under the agreement that when they do leave ( hopefully not anyway time soon haha) that they leave the property how they found it so the works they carry out must be done in neutral colours and they accept if it is not left in an acceptable state then funds will be deducted from their deposit to correct any of the works. Also the wall plugs were from hanging up old photo frames so needed to be pulled out and potentially fillerd (again guidance on the decorating was explained before allowing the tenant to proceed) But yes happy to have had this query as I feel like mentioned you mentioned it is a good sign and will lead to a long term tenancy! Thank you both for your help and advice, sorry for only responding now my apologies!
  13. Hi guys, my letting agent has just been in touch to let me know my tenant has asked if they can make some minor adjustments such a removing some walls plugs, removing wall paper and painting. legally should I put any terms in place and what’s everyone thoughts on this? I think it may be a good idea but as this is my first buy to let I am open to advice. Thanks, Luke.
  14. Thanks Kerry, I appreciate it.
  15. Thanks Julia and I am right I thinking that is separate to the rent? As in the tenant pays the rent as well as the bills? I am going to double check that is the case with my lettings agent tomorrow but thought I would ask if that is how you also do it?
  16. Hi everyone, I have just completed on my first BTL it is a single let, am I right in thinking that my tenant will be responsible for paying for the council tax, water, gas and electric. I am going to double check on Monday morning with my letting agent to make sure it is listed in the agreement. But I just wanted to double check that it was the case as most of my research seemed to suggest it was. thanks in advance.
  17. Hi guys the estate agent hadn’t updated the memo of sale and the seller had opted to change solicitors, the agent said it wasn’t their fault I wasn’t fussed who’s fault it was I just happy it was sorted, nearly a month turn around from receiving the details, and I have now had the completion pack back, the searches submitted and all enquires responded to and all responses have now been satisfied by my solicitor so very happy with how it’s all turned out, exchange and completion is now imminent!
  18. Hi guys, whilst I am waiting for answer from my accountant, I am buying my buy to let via an ltd, I am VAT registered and will plan to claim back on all VAT payments I make for services, however I wanted to know do I have to pay VAT for the rent I receive? I will be be paying my letting agent % per month + 20% VAT is this the same or separate to making a VAT payment for the rent I receive? Any advice or guidance would be much appreciated!
  19. Hi everyone, wondering if anyone can provide me some tips with how to deal with waiting on my sellers solicitor? I had my offer accepted and received the memo of sale 4 weeks ago. My solicitor is awaiting the contract pack to allow us to start searches. I have secured my mortage therefore the only thing currently holding me up is the contract pack the seller has had her own offer accepted therefore my agent tells me it’s all okay and nothing to worry about however due to my last deal falling through 3 days before compaction due to a break in the chain I am naturally a little paranoid. Does anyone have advice on timescales or how long they have waited in the past for the contract pack?
  20. Hi Barry thanks for your replying and information sounds good, good luck with it all.
  21. Hi Barry, thanks for the message, back on the saddle (right move) I go. I was due to complete this Friday my funds had been drawn down so I had a £600 broker fee £435 lenders valuation £2k solicitor fees and £360 independent solicitor fee (buying in ltd), first for all parties involved the seller equally had paid out on all fees but due to the whole chain breaking down not much can be done. would you mind me asking where your properties are and what is your preferred method of buying for example BRR or standard BTL, or flips?
  22. Does any one have any advice or has been in my situation? I was due to complete on a property this Friday the seller has had his purchase fall through and therefore he cannot sell to me now. I have spent over £3k on fees which I cannot get back would have been my first BTL (a standard BTL). Three months of back and forth with brokers solicitors and everything else. To fall at the last hurdle heartbreaking to say the very least. Advice would be appreciated.
  23. Hi Mark sorry for the late response I am referring to both, what insurance will I need for my Ltd and then what type will I need for the properties I am buying
  24. If possible can someone kindly advise on what insurances you need for an ltd that’s set up purely for buy to let’s. Thank you.
  25. Thanks Derek sounds good. Would you also be able to advise on insurance companies?
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