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  1. Hi All, New to the forum and looking for some insight into what my chances may be of securing a btl mortgage in limited time, So to cut a long story short, I have purchased a flat in auction just on Friday 28/2/21, yes I know it's crazy but I haven't physically seen it. I was outbid on the actual auction, however it didn't meet the reserve so didn't sell. A week later I get a call, it's still available and being offered to me below the reserve before it's back in auction a week later, I make a lowball offer which was refused, I then offer to meet half way to the sellers asking price
  2. Hi All, Interested in purchasing a buy to let in Nottingham. We live fairly close but do not know the area at all. We have done some research of areas to avoid but also appreciate some of these properties will produce higher yields. Does anyone have any advice or recommendations of best areas to invest in Nottingham? Looking at a single let for this investment so professionals, couples, families but looking at keeping the property price around the 120k mark with any refurb and additional costs on top of this. Thank you in advance Cass
  3. Hey, just looking for some advice/guidance....I have the opportunity to purchase a property at c. £110K cash (which I can do), its on the market for £150K, desktop valuation shows £149K, so definitely BMV. It is a 2yr old build surrounded by older properties, so at the top of the list in terms of value when compared to other local properties. There is no work/refurb needed, just a motivated seller - But, I dont want to leave all my cash tied up in the deal and therefore would look to mortgage the property at around the 6 month mark. My concerns:- How will I get t
  4. Hello, I apologise if this has been asked before. I have a property (owned personally) which is currently on a BTL mortgage which is to be refinanced. The tenant is moving out but I wish to now start a service accommodation business through a limited company. Can I use a commercial lease to rent this property from myself? If so, what mortgage do I need, would a BTL mortgage suffice with a guaranteed rent from the (my) limited company? Any tips would be appreciated and welcome! Yvonne
  5. I am embarking on my property portfolio and personally think a flat is a more conservative option than a house. Don't want to start with anything complex like flip, HMS and etc. Just a simple vanilla let. So I have come across these two options: 1- A flat in a premium location (next to train station or town centres) targeting young professionals or a mature or PhD student. 2- A flat on a more suburb or smaller town targeting retired people. Obviously the first one offers better yield but less stable tenants. And the second one probably gives a longer term tenant with probably di
  6. Hello I'm James, If you are like me you'll have binged The Property Hub, bought yourself as many books to read on the subject, and spent hours researching investment strategies and properties because you live life wildly and that's how you get your kicks. I'm 26 and new to property investment, it'd be great to chat to anyone in a similar place, and build a network of like minded people. I may be able to offer some guidance on where to look for good research on local economic fundamentals. About me, I studied economics at university, and have worked in economic development roles
  7. Dear Property Forum, I have a property, un-mortgaged, no chain and used to be our primary house. However, we've now rented it for 2 years to good tenants who have asked whether they can extend for a further 2 years. The yield on the property is 4.5% on a value of £700k. Is there a market for selling tenanted properties of this value, and if there is how do I access it? Or, do I keep the property tenanted and incur capital gains in the future upon selling? My preference as it stands is to sell the property without capital gains. Any help and advice would be most
  8. I'm looking at the forms SA800 - Partnership Tax Return SA801 - Partnership property return The 2 partners are running their business as a general partnership. They buy a propery in their own names and include it in the partnership tax returns. The properties are either cash bought or mortgage and deposit. Do the properties, mortages, cash, deposit get accounted for in the balance sheet and capital accounts?
  9. Hi all. I currently have 2 BTL both tenanted and doing OK. I've recently been extremely lucky to get a windfall of 129k I was working freelance but I've stopped that ATM to focus on a property strategy. I have two in mind I live up North so my goal is to initially replace an income 1600/2k will be enough for me then in 5/8 years assess any equity for refinance etc. The two strategies I'm thinking is 1) buy cash 80k ish refurb, refinance and pull as much as possible 2) buy 3 off the peg ready to rent and get the cash coming in. I know the pros to recycling
  10. Hi, I am a BTL investor looking to purchase some 2/3 bed houses in Leeds. I'm currently living down in London and am well aware with the important of knowing the particular area of where i am purchasing. To this end, im looking for a local managing agent to work with who is knowledgeable and reasonable, does anyone have any experiences or recommendations? Thanks
  11. Hi - I'm trying to work out the gross and net yield on a property that I'm refinancing to fun other BTLs. What I want to know is should I divide the annual income/annual profit by the price I payed for the property originally, or by the most current valuation of the property? The property was purchased 10 years ago and has seen a decent increase in value so the two possible figures differ a fair bit. Thanks in advance!
  12. Hi All, I'm back with another dilemma. In 2018 myself and wife had the Right To Buy (RTB) our flat from our local authority which we progressed with this. We opted for a 2 year residential mortgage. Shortly after completion we had found out we was expecting a child and we had to plan to purchase a larger property as our flat was not going to be big enough for our family. We asked our mortgage lender and local authority for permission to let which they did grant our request. We purchased a house and rented our flat. 2 years on our mortgage deal is coming to an end and we
  13. Hi everyone, I've been listening to Rob & Rob from the beginning of lockdown, nearly worked my way through all the podcasts :) I have been interested in property for many years but haven't purchased anything yet. I want to make the most of the stamp duty break and take the leap before march '21 My circumstances: I am a first time buyer so is my Fiance. We are planning on moving in together in 12-18 months. We would like to individually buy two properties now and live in them until we get married and then potentially move into one property and rent the other out. I was hoping to
  14. Hi All, Would appreciate some advice on a BLT im currently about to proceed with. I know there will be differing views on this however im just looking to see what you all think of the below: (Note as its situated above a pub ,lending has been incredibly hard to get and Covid has de risked all banks by the looks of it) Glasgow, 2 bed flat, City center. Value = £150k Purchaser Price = £128k @ 75% LTV Renovation costs £9k End value = £175k Mortgage = 3 Year fix @ 4.64% = £360ish/ month mortgage STA Rent £850/month, Air B&B £1600>£2600 conservat
  15. Guest

    Offer Letter

    Hello Hubbers, Exciting times, finally done the research got a property shortlist (always expanding though), booked the viewings and expect to start making offers next week. Does anyone have any advice on the actual offer process? My line of thought is make it official and submit a letter rather than only verbal or a simple email. I have written up a template but some further tips/advice would be much appreciated. Stay safe Regards Chris
  16. Hi all im looking at buying my first investment property in Liverpool. I’m unsure about my strategy- whether to buy a flat off plan in the city centre or just go for. 3 bed already built house a bit further out? im looking for long term growth but a yield that will cover my costs with a bit of a profit. it seems that there are some financial benefit to buy off plan but given the covid situation I’m worried about completion dates/ if at all/ and it seems there are so many extra costs here and there that I feel it’s quite complicated...( ground rent, service charge, fur
  17. Has anyone experience with selling a btl flat with a tenant in place? best wishes Oz
  18. Wow! So many buyers from Hong Kong buy property in Manchester. I have been deal sourcing / investing in Manchester for years and I have never seen so much interest from Hong Kong. Nick - Smarter Property smarterproperty.net Are other people seeing a lot of new interest in Manchester?
  19. Hello Property Hub! Firstly I have to say I’m blown away with all of the content and knowledge sharing on here. I stumbled across Property Hub a couple of a weeks ago and my world and plans have completely changed. With that said I’m new to property and I’m looking to build a network in order to start investing over the next 6 months. I’m currently based on the south coast, channel island and London and I plan to invest up north. Liverpool - Manchester - Sheffield etc. but I’m very much an open book and not set on any particular location. My initial thoughts are BTL but aga
  20. Hello, I am a new investor and understand you can take £3k out of your limited company into your personal name / year tax free as a dividend. I have three questions relating to this. 1. really I would like to continue building money within the company to invest in further buy to let properties. Therefore is it possible to take the £3k from rent/ year and immediately re invest the money as back into the company so that you could take a tax free lump sum in the future as this would in effect be your company returning the money you lent it? Ie. The same as you can remove your initi
  21. Hello, Im currently on shared ownership and own 25% share of my property. Ive saved up some money and im keen to start my buy to let journey. My question is, am i allowed to own a buy to let property while im still on shared ownership? Do i have to ask the housing association permission for this? Many thanks
  22. Hi all, I am looking to remortgage a BTL to release some equity, the BTL is currently let to an company on government AASC contracts to house asylum seekers (previous known as COMPASS contract). The company dealt with all the day to day issues, maintaining the property and paying the rent. The lease usually lasts 5-10 years. Is it possible to get a mortgage, if so, what are their typical terms please - LTV/Interest rate etc.? Many thanks!
  23. So I currently own my own home where I have been living for 4.5 years which I was lucky enough to buy myself (saved by living with parents). My long term partner (not married) has just agreed to buy a new home for us to move into which will be an upgrade for us both and this will be in her name (until married). I now have the fortunate option of what to do with my property (Paid 178k now worth approx 210k - 2 bedroom on South coast). My first thoughts is to rent out my property but given my circumstances obviously the property is not within a limited company and I am just on the edge
  24. Hi there I am very grateful for this platform. Thank you! I am going to be moving up to Liverpool for a few weeks to source and buy a BTL property. I am looking at L6 and L7. My aim is rental yields, not so much CG. I really want to network there but it's not that easy. For £150k with 25/30% deposit I am wondering if I go for a better built 3 bedroom house (easy to manage) or a simpler 4 bedroom place (higher yield +more risk). The aim, if all goes well, is to return before end of the Stamp Duty Holiday and purchase another property (Possibly an HMO) for bigger yields.
  25. Hi guys, Just want to check my understanding as I move towards a transaction. I currently own 2 BTLs but live in rented accommodation as my main residence. We're looking at buying a new place which will be our primary residence. Am I correct that under the new stamp duty rules that I won't have to pay stamp duty under 500k? My understanding is that the 3% won't apply as this will be my primary residence. One other thing that might complicate is that the property includes an annex and a 1 bed cottage that we'll be using for holiday lets. || Thank you!
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