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Howard Bray

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    But to let

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  1. Hello, If two people buy a property for say £60K, so each person pays £30K ( <£40k) Will there be a 3% stamp duty cost? (assuming each person already has a property) Thanks Howard
  2. Hello I’ve been offered a retirement flat at a really good price, it needs a new kitchen and bathroom. I can get the work done easily. Has anyone got experience with a retirement flat? Do you need to be a certain age to buy them? Thanks Howard
  3. Thanks for the replies. It’s annoying, but I’ll just have to deal with it. Howie
  4. Hello, I currently have a property via a LTD company that’s insured with legal and general. I had to claim last month for a water leak. The claim is still open. A property I own in my own name which is also a buy to let, the buildings Insurance runs out in a few weeks. It’s insured via Towergate. I’m struggling to get insurance quotes because I still have a claim on going? One company said I don’t have to mention the open claim because it’s in a limited company and the house I need to insure is personal. However, their insurance don’t pay out for frost damage from November to March. So I don’t really see the point in going with them. Any advice is welcome? Thanks Howie
  5. Thanks for both of your replies. Much appreciated. Seems like a pretty poor law but it is what it is. Good luck to both of you.
  6. Hello everyone, I recently purchased an unoccupied house. I did some small work to it and got it rented with 6 weeks. I completed the form for zero council tax as it wasn't occupied or furnished. However, they have came back and said that the previous owner have already used up the zero council tax benefit. The best they can do is give me 50% off the council tax. They said its legislation and nothing can be done? Seems a bit unfair as it's a different owner! Any advice or experience welcome. Thanks Howie
  7. Mine is 3.98%. im in Scotland, there are only 4 lenders who will lend to Ltd company's. Thanks Howie
  8. Hello. Im currently having this issue also. i also had an issue with a deeds of subordination. How did you get on with everything? Thanks Howard
  9. What bank are you using? Im in Scotland, there are only about 4 lenders that will lend to a LTD company in Scotland. That looks like you have a good deal with them. I work also and have property in my personal name.
  10. Thanks for your reply! I have spoken to a few other people and they never had this either. My lawyer is currently talking to them. My understanding is that they will have a hold over any other assets I put in the company. So potentialy no other lender will touch me if I have this hanging over my company. Also I will not be able to take money out my account via director repayment shares until the whole mortgage is paid off... Also, did you have to pay two sets of lawyer fees? As you need to your own solicitor and then the lender has one also.
  11. Hello I'm currently in the process of buying a property via a ltd company. I'm being charged a floating fee and also £650 + VAT for a deeds of subordination? Has any one else had this issue? Can someone explain it in a clear way and what it means for me and my company? Thanks Howard
  12. Hello Jordan The best thing to do is go and see a mortgage broker to find out how much you can borrow. Last year I remortgaged my house and rented it out. I currently live in rented accommodation. Im currently trying to buy a property via LTD company. As I don't own my own residence some mortgage lenders wouldn't touch me, this will be the same for a personal one also. As you aren't currently earning over 25k, to get a buy to let mortgage the lender may need you to have an asset like a residential house. So it may be worth while in the long term to get your own property first. However, just keep in mind that you will have to pay a 3% stamp duty on any second home over £40k. In your position I would consider buying a residential property first. Then focus on buying bmv property less than £40k. Remortgage this property later down the line and take equity out of it. For your own deposit, I haven't read much into it but I know the government have a few ISA house deposit schemes. I'd read into that to help you. Flat/House - my personal opinion is that it doesn't matter... I currently focus on houses as I want family's who will stay long term. So I look for houses next to primary / high schools. My tenants are in the process of signing a two year extension on their lease. You just have to research both and go for what fits the key fundamentals and your budget. If you really want a house but it's too expensive then you will have to venture away from your desired location. Hope this helps you. I'd go and speak to a broker first. I have a few brokers contact details you can speak over the phone to if you wish. Thanks Howard
  13. Hi tony, Would you advise joining the SAL? £100 one off fee? Thanks, Howie
  14. Hello @alanaxharber I'm assuming you have this sorted by now? I would go on certain website that rate tradesmen, call certain letting agents to get a few roofing companys. Search for them on Google and read the reviews (take them with a pinch of salt). Get minimum three people out to give you a quote. You would probably only need to get a few times replaced. I obviously haven't seen it but I can imagine it being the whole roof that needs replaced. Use your gut, don't just go with the lowest quote. Thanks Howie
  15. Hi David Thanks for your reply. I'm happy with my British gas cover, they are really helpful. In your expert opinion, do you feel the sum of £120 for a plumber to be called out, go to the leak, order the wrong part, then fit an other part that didnt work, cover it in silicone and then claim I need a new boiler isint right? I'm currently arguing with my letting agents over it. Thanks Howard
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