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Will B

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  1. Hello, Did no if anyone could help with this topic/situation!My mother currently has a block of flats that she’s debating selling, as she’s looking to get her hands on some cash, she owns the whole block/ freehold. It’s worth around £450,000 and she will get clobbered for CGT as it was purchased 10 plus years ago for £120,000. The other option is transferring the ownership of the property down to her children (not so young 27 & 30). Where we would look to when possible, remortgage and get the cash out for her. However, could that be difficult to remortgage with the 7 year threshold? Has an
  2. 2 years ago I sold my primary residence (to downsize) to a smaller property. I also own a BTL and my tenant unknowingly, had not being paying his electricity, he has now moved out of the property. As the bills weren't being paid Eon thought they had notified me and sent the bill to my previous address. I went back to my old house around 9 months ago to pick up post, I saw this bill, called Eon and sent them via letter a copy of the contract. So I thought the bill had been forwarded on to my old tenant and the case was closed. However, 9 months later.... (last week) I r
  3. Hi Monica, Completely agree with Richard..... I fell into the trap of buying a BTL first of all and I'm currently buying a second as a house to live in and I'm feeling the effects £8,000 stamp duty! :S Plus the stamp duty I paid on my first house as a BTL. Look at it more as a free token.... Even if its not your 'forever' live in it for 2 years and then look to change the mortgage to a BTL. For me personally.... The only 2 reasons to not buy a 'house to live in' is if your located in central and it's very difficult to find a house wi
  4. I have just gone through my mortgage submission with Fox Davidson. Pete Loyd my mortgage broker was fantastic and worth every penny.... Quick to respond to emails and available within minutes when contacting via a phone call and personally I believe I have a great deal! Running the numbers.... Resident mortgage Mortgage broker fee: £495 LTV:15% Loan amount: £190,251 Interest (5 year fix): 2.14% Monthly payment of £647.00 £999 mortgage fee Would highly recommend!
  5. Hi Phil, Really appreciate the advice, after a walk round and some negotiation, I offered the full asking price and the deal was done and dusted. Funnily or not so funnily enough the estate who had the property on the market had done an extremely unprofessional job....... The person who owned the property was very elderly and unwell and the family added a couple of cameras around the house just incase he fell over and they could be straight over. He sadly passed away but the family had left the cameras on whilst they put the house on the market.... As the property was s
  6. Hello, I've been desperate to buy a property in a specific area, the house finally came up on Rightmove at around 3pm last Wednesday. I called 9am Thursday morning and there had been an offer been put in overnight. I tried to reason with the agent and said I would be prepared to potentially pay the full price but sadly they said the owner had accepted the offer and it was sold before it went online and it was only advertised on Rightmove for legal purposes. I speculatively sent a letter through the door of the house and said I was disappointed the house wasn't on the
  7. Some really interesting comments regarding the Northants area, especially Wellingborough. I'm born an bred from Wellingborough and I couldn't agree much more with Linda's comments. I picked up a 3 double bedroom in St Barnabus Street in 2013 for 100k i did a 12k refurb .... it needed tlc!, new kitchen, double glazed windows, boiler. On the same street now smaller houses having been selling for 150k this year. As Linda has rightly said, it is one of the few places in the U.K. With realistic house prices where you can commute to London but I personally from 2014 have been price
  8. Hi Amber, Apologies for the late response! Northampton is a growing city, with some huge investment going into its University campus and a nice looking train station! (A brand new Uni campus is being built on the other side of the city). I'm not gonna stick my hand and say I'm an expert in Northampton so I can't give you a lot of specific advice. However, it is a thriving town with areas such as Sixfields (new builds) and also Weston Favell being places close to Northampton I would recommend to invest in. If your looking for a hassle free tenancy, find a nice residential area, either deta
  9. Hi Runju, I'm based in Wellingborough, with a family business owning both commercial and residential property. Going back to your first post with regard to commercial properties in the town centre, there are currently many vacant shops. One of the main reasons for this is the amount of retail parks being built around Wellingborough. Such as the retail park on London Road, furthermore there is also significant development at Rushden Lakes Retail Park with some big retailers already signed up going into the shops, which shops in the town centre just can't compete with. Which has left a lot o
  10. Hi Andrew, Haven't invested in property for over 2 years due to prices rocketing in the local. However, always keeping an eye on Rightmove and managing the current properties. Are you still investing in property? Thanks, Will
  11. Hello Property Hubbers! For the last 4/5 years I have been sourcing properties in Northamptonshire, specifically Wellingborough for our family business. Wellingborough is a great place to invest being a 50 minute journey into London St Pancreas. Due to the increase in property prices, it is highly unlikely we will be purchasing too many more as a decent sized 2 double bedroom terrace near the town centre is likely to be a minimum of 110K and we are ultimately being priced out the market! Is there any experienced property hubbers who specialise in a basic 2/3 bed houses possibly up
  12. Will B

    Surveyors!

    Hello all! I am just going through the final stages in purchasing 3 BTL terraced houses. I have had 3 surveys done by one surveyor and one of the properties we were aware when we looked at it, that the roof was curved. However, when receiving the survey back it was noted that the roof of the property was fine. I then decided to get a 2nd opinion from a well known/respected builder from the local area who agreed that it wasn't in a fantastic condition. Does anyone have any suggestions in how I go about approaching the surveyor? I am also contemplating getting them re-surveyed as this
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