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Adam Hosker

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  1. It certainly gives the United Kingdom some certanty but given we dont yet know the end brexit trade deal. Some uncertanty may remain! A boom? Perhaps
  2. Kensington Mortgages are realy competative in the Limited Company Buy-to-Let Space. As well as for Self-Employed on Residential Mortgages. They are not as "light touch" on document requests as other lenders, though not as excessive as some others. They sit well in the middle. Some realy interesting criteria such as no maximum age at the end of term, allowing older borrowers to continue on their Buy-to-Let journey. As well as catoring for First Time BUyer, First Time Landlords.
  3. You have the equity in the properties already? You can put that into the company as a Directors Loan for tax efficiency. The mortgage companies that enable a landlords SPV buy properties from themselves are used to this in the conveyancing process. You dont need specialist conveyancers really. You will have a conveyancer for you (the person) who is selling the properties. You will have a conveyancer for the company (SPV) who is buying the properties. Everything is rather standard. Yes - perhaps Capital Gains Tax also. It's never a bad idea to talk to a property accountant to discuss what will be payable.
  4. Im not aware of the scinario in which you can buy a property in a LTD Company, to then retain First Time Buyer status. It wont work for Help to Buy for instance. In addition, whilst possible to get a BTL as a First Time Buyer, First Time Landlord it is more difficult. The options are more limited with hightened scruitny put on affordability and credit history. Hope this helps a little but no one can really make the decision for you. In your shoes I would compare both options, then make a prediction into the 5 year future. What would put me in the best financial position. If you are currently living with a relative in London for example, it could be an easy comparison that buying a residential makes you no savings. Whereas if you have to pay London Rents, then that being offset by a northern rental income may skew the choice.
  5. They are both secured loans. If you are renting the property out then you can get a Buy-to-Let Mortgage. If you mortgage for more than any oustanding loan. Then you get the cash in your hand, now some lenders have stipulations and ask what you intend to do with it. I would not worry too much about it. New finance will lower your credit score but nothing significant.
  6. You never know what the future holds Tom. I can tell you that in the present, that if you are earning £25k then they wont be bothered if the 2nd applicant does not reach that amount. Buy-to-Let Mortgage Applications are all about the property being self-sufficient. Your income (and 2nd applicant) is more for security, to cover void periods. The more the better but for many lenders there is no set "minimum" income.
  7. You should talk to the mortgage adviser who advised that this is possible for SA. I've never heard of this. If we're talking a hotel then sure! A flat, no.
  8. I dont think there is any benefit for using a broker in the area your buying in. I guess there is the benefit of using a local broker to you, as you can drop in paperwork. Although - most of our clients are in the South East when we are Up North in Leeds. Email works as well. The best broker is the one that gets you the best mortgage for your needs and requirements, locality no longer plays a role.
  9. It's interesting but I have no idea. I would presume the Landlord could not proceed if leaseholder(s) objected to reduction in common space. I know Government Quango - The Leasehold Advisory Service gives leaseholders Free Telephone Advice which may be a place to start - https://clients.lease-advice.org/Appointment/Appointment?isFireSafety=False Though i'd start with the quetion is it detrimental or advantagous for you to allow this proceed. If its an improvement, why quibble...
  10. You want to talk to a mortgage adviser to find the best solution for you (one in my signature). Yes there are lots of mortgage lenders that lend to Ex-Pats for BTL Purposes. It's certainly more difficult and a few hoops to jump through with Lender(s) criteria. The fact that you already own property in the UK helps. If you want random lenders names? I know KRBS will do expats who have an active UK mortgage up to 75% LTV in London & SE.
  11. If I was buying a property @arisa8 id certanly want to have a visit. Their are many "not great" areas in Liverpool, as there is in any city. If not visiting yourself, you should at least talk to a Letting Agent (that you will probably be useing to manage?) to give you there opinion on the area. If they feel there will be much demand for example.
  12. Welcome @classicalsounds22 good luck on your renovation. The most expencive but most fun part of being a property investor.
  13. @daryn m XYZ may as well be your Letting Agency. As "rent-to-rent" is prohibited in most mortgage contracts, only a few lenders allow you to "lease a property to a company" and most require the only agreement you enter into is a 6-12 month Assured Shorthold Tenancy. Have you talked to an accountant about this? It does not solve the Mortgage Interest Releif Issue for example. Perhaps just 10% off of gross rent, at the normal letting agency rate. @MatthewM same applies for HMO, Serviced Accomodation & Normal BTL etc... Im not exactly sure what this arrangement solves nor how permissable it would be in mortgage contracts.
  14. Just terminoligy @MatthewM Anyone can be the Director of the company, that just means they are in "controll" of day to day activities. It's Shareholders that own the company, so yes it can make sense for Parents and Children to be shareholders for succession planning.
  15. You can get an unsecured loan from a 3rd party, a 2nd charge on anouther property to fund the renovation. Otherwise you can try and push the LTV on the bridging loan to the maximum in order to keep more cash in your pocket for the renovation. You wont find bridgers funding the renovation for you. 99% of Bridgers will lend to you on the Purchase Price (PP). You do get the odd crazy lender that will do the Open Market Value (OMV) but they are rare. Its also often advertised but never realised. Though you can realise that difference given time and especialy if you are doing works on the property. When it comes to remortgage (away from the bridge) and you can demonstrate you have increased the value (not just a paint job) then it will be easier for the valuer to pay less attention to the "new market value" which is the Purchase Price. They instead will be comparing against local properties at simular standard that have sold.
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