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  1. Hi everyone, I am a non-resident and a non-citizen looking on to investing on a property in UK. So I was wondering that if I pay cash 100% and I remortgage the property, there's a 6 months cooling period right? 1. So I would like to know if it is true that you cannot use the money from remortgaging and cannot be taken as cash? 2. In this case you can only use the money in investing to another property? Does that mean if I pay 100% in cash then remortgage a property, I'll have the 75% back which then has to be used to invest on 3 different properties given that 25% equit
  2. I have a nice first floor one bed buy to let I've had for 11 years in W10. I would like to sell and I currently have it on with an estate agent. But it's over restaurant/commercial and makes mortgages harder to get. Having finally sold a different property last year to the fourth buyer after previous three buyers unable to continue, I don't want to go through all that again. Would going to auction be my best option on this harder to mortgage flat? Would appreciate your views! Thanks.
  3. Morning All, Just in the process of selling my first flip and now looking to move towards the BTL investment route. My plan will most likely involve carrying out works to these BTLs to increase the market value. The question I have - When creating a company, am I okay to just have 1 SPV Ltd company to buy, carry out refurb works, refinance with BTL mortgages and also hold the properties. Or will I need to form a parent company that specialises in carrying out the refurb works on the properties held in a separate SPV? Thanks. Alex
  4. Good afternoon, I hope you don't mind me reaching out for some advice. First time investor here so please go easy on me I have around £100k to invest in a cash purchase but I'm still unsure whether to go for a property of around £100k and recycle the money 6 months later with a BTL mortgage or to buy two smaller 2 bed BTL properties worth a much lower price "up North". I am interested in the following (BMV?) deal in Burnley BB11 as a cash purchase with a view to mortgage it at 75% at the earliest possible stage. Comparable sales (2019/2020) in the area were between £97.5k - £11
  5. 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
  6. 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
  7. 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
  8. 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
  9. 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
  10. 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
  11. 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
  12. 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?
  13. 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
  14. Hi all, Just looking for a bit of advice regarding BTL investments. I am trying to calculate the amount of money i would leave in the deal until such time that I can refinance and try to pull some of my money back out. I am hoping to buy 3 or 4 properties soon but I feel that I would stuck after that as all my cash will then be tied up. Firstly.. Is it realistic to expect to pull all or most of your initial investment out of the deal? I am struggling to see how this could be achieved even with the properties that need refurbishment. I have found that the refinance only covers the ori
  15. 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
  16. 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
  17. 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
  18. 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!
  19. 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
  20. 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
  21. Hi everyone, My name's Ben, and I'm a website designer based in Bournemouth, looking to make my first strides into property. So far I've been along to Property Hub Meetups, and absorbed lots of books, podcasts, videos, you name it! But I want to go up a gear and increase tangible action, which is part of the reason I'm here. I've been advised to start off simple, and so am looking initially at buying small flats for single let. However, I'm really interested in serviced accommodation as a longer-term strategy. Great to be here, and feel free to a
  22. 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
  23. 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
  24. 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
  25. Hi, I'm keen to know if any of you flippers out there have had to revise your strategy in the short to medium term with all the uncertainty around coronavirus? I was thinking about venturing into flipping in July/August and felt I had a strategy that would allow me to reinvest profits over time into BTLs. I'm now not sure it's a good idea and wonder if it's better to research and focus on a different approach. Keen to know your thoughts and plans. Best wishes, Kris
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