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Found 10 results

  1. Hi Everyone, I have made the decision to travel up to Leeds next weekend to carry out some viewings on property up to about £110,000. Only have 1 day and i want to make the most of the trip to get a feel and understanding of what and where is good new for a B2L and i don't want to waste any time doing it. can anyone advise me on some particular B2L hotspots in Leeds that i should make sure i go and see? I am split between going for a 1 or 2 bed apartment or a 2 bed terraced house that needs some TLC. any advise would be really welcome.
  2. Hi All, Sorry for the long post. I'm totally new to this and was hoping to gain advice from you all, so any wisdom imparted would be sincerely appreciated. I'm interested in beginning my property investment journey after gaining much confidence from the contents on this wonderful site. I'm from Birmingham but live and work in London. Initially, I was looking for a high yielding B2L property in somewhere like Sheffield or Nottingham, to potentially net between £500 - £1,000 per month cashflow to generate some passive income. As a newbie, I want a hands off approach, interested in modern properties that are immediately ready to rent out; but have recently learned my cousin works on upgrading properties so thats a bonus for some flexibility in regards to potential house flipping. My strategy has now potentially changed as my Mom (currently living in a 3 bed council house in Bham) needs to be rehoused, due to her current area and neighbours being far from the best to say the very least! So in saying this, I now intend to purchase a mortgage for a place for her to stay in Bham (2-3 bed house or 2 bed apartment in city centre) that will see good capital growth in the long run as the plan is for her to live there for the next 10, 20, 30 years plus. So this would be a long term investment. I have around 30K to invest at the moment, and ideally would like for the monthly repayments to be low because she'll be living there alone (would H2B be pertinent here?). I don't intent to make profit off Mom or for her to have to share, but at the same time, I don't want to have to go into my own pocket to top up what she cannot afford as I am already renting in London. I did a mortgage in principle with my bank the other day and they said I could borrow in the region of 280K. My credit is pants at the moment so I'm using the next 9-12 months to increase my chances of getting a 5% mortgage next year although I would really want to buy something in 2019. So I suppose my questions are: Is what I'm pondering ambitious or outside the realm of success with the 30K capital and poor credit rating I have? Outside of transport links, being close to city centre, good schools, shops/supermarkets/parks/having a drive and garden etc, what other key criteria do successful property investors look for, that bring confidence that capital growth is very likely to come down the line? After looking at Rightmove and speaking to local estate agents and viewing properties that fit your criteria for example - what are the differentiators or main drivers that prompt an investor to push the green button and buy? Should I maintain my original plan, and find a 1-2 bed B2L property in a high yielding/high growth area like, Leeds, Liverpool, Nottingham, Manchester, Sheffield and essentially keep saving while banking the £500 - £1,000 per month cashflow - because in a couple of years I'd soon generate another 30K to get her the property in Brum - and in that time I would have gained some equity/growth in the B2L property. I do plan to build a property portfolio so when you have a strategy for acquiring multiple properties; for tax reasons, is it better to purchase them under a limited company rather than as an individual? When people say, test your numbers thoroughly, what exactly does this mean? How can you test that your strategy for a B2L monthly cashflow goal is truly feasible? Would the H2B scheme benefit me in for my circumstances? Many thanks
  3. Hi all, Just looking for other investors opinions on a potential deal I've been looking at - 2 bed terrace in Kingstone, Barnsley Asking price - £75,000, expect to get it for £70,000 - numbers based on £75k though Rent - +£450 (tenant in situ) Interest only mortgage at 3% on £56250 -£140 Management at 7.5%+ VAT -£35 Buildings Insurance -£12 Total NET - £263 PCM Money in - £22,300. I would appreciate your thoughts. Thanks, James
  4. Hi there, Today i phoned for the first time a group of solicitors to ask how much would i have to pay in legal fees and in stamp duty for my First house (1st time buyer) and how much the stamp duty would cost me. They said that for a 250000£ House i would not pay stamp duty since i am a first time buyer and i will live in but i would have to pay a high rate stamp duty on my second purchase purchase is this case a B2L or a HMO. They talked around 14000£ for the stamp duty of the second house and i was completely shocked to hear that. Is there any way that i can go to avoid this? I am also be using 2 Lifetime ISA to fund the deposit for the first house since i will live in it for a while 2years or more. Best Regards
  5. Hi All, We are looking to make our first purchase in the UK, we are British Nationals working in the Middle East for 9 years now. I am looking for recommendations on accountants and mortgage advisors for expats Garry
  6. Hello all, My girlfriend and I are in the current situation and would love some feedback/words of wisdom: -We are very keen to invest in property to help bolster pension plans -We have 25k to spend that we have saved up over the last couple of years. -We rent in London zone 2 but would like to own a home in the near future, at this point we would move further out where it a bit more affordable -I have a decent paying full time job, my girlfriend is a freelancer -We have spoken to a mortgage broker who says being first time buyers options are limited. We are so keen to get going and invest our money wisely now. However would we be making a big mistake by putting our savings into a B2L only to be stung by a much bigger stamp duty when it comes to get our own residential mortgage? My feeling is that I'd rather get investing and not worry too much about the stamp duty as the amount we will save by moving further out is far greater. Also, does having a B2L mortgage first look bad when applying for a residential mortgage? Advice would be greatly appreciated. James
  7. Hi all, My partner and I are wannabe first time buyers but also very keen on getting stuck into property investment having spent the last 18 months researching and saving up 25k. We live in London and know that we will have to move further out at some point to afford a residential mortgage. I'd be keen to know if: Having a B2L mortgage first affect our chances of getting a good residential mortgage deal in a couple of years? Would hubbers advise that we get a residential mortgage first and then save up again to invest? I'm keen to get investing and not too scared off by the stamp duty increase on 2nd homes. Being london renters we will be saving thousands by moving out of town when we're ready to buy anyway. But not being able to get good mortgage deals is a bigger concern to me. Any advice appreciated. Cheers. James
  8. Hello, I am refurbishing a house to be ready to be marketed by mid-July. This is a 4 bedroom end terrace home ideal for a family of which I intend to let unfurnished. It is an ex-local authority property. I want it to stand out and make it desirable and ideally fetch a healthy monthly rent. My questions to all you existing landlords are as follow: 1. Do you stage your properties for rental? 2. if yes - how much furniture to you stage the house with? 3. If yes do you have a company stage it for you (rent furniture for a few weeks?)? Do you buy the furniture and bring them around from one property to another? Do you do both - furniture staging company for large items and smaller items you supply yourself? Here are a few ideas on items for some not all of the rooms: Kitchen table & chairs + a few decorative items on the counter, Master bedroom (bed + side tables + lamps + wall art), Single room - set up one single room with bed & side table (?) Living room - reading chair with side table + lamp (do I need to set it up with sofa, bookcase & TV stand?) Outside - a few colourful planted pots, bistro table and chairs The above are just a few ideas that may seem too much. Would appreciate your feedback and let me know what has worked for you in the past. Regards, Roxane
  9. There has been a buzz surrounding Peterborough for some time, following announcements of various development plans taking shape in and around the city. Peterborough, which was previously best known for having good transport links to bigger and brighter nearby cities, is undergoing a huge period of regeneration with a recent announcement made by Peterborough City Council declaring that UK and overseas investors are backing an impressive £130million regeneration plan. Read more at the BBC here; http://www.bbc.co.uk/news/uk-england-cambridgeshire-26229020 The redevelopment plan will see several key areas of the city centre set to be rejuvenated which will undoubtedly deliver new jobs, homes and outlooks for people living in Peterborough and generate interest from outsiders hoping to take advantage of our 45 minute commute to central London. Another boost for the cities image was being crowned the fastest growing city in the UK, followed closely by Milton Keynes, which has helped to enhance the confidence of local, national and overseas investors in the cities potential to deliver. Based on figures collected last year, and as reported by the BBC, the annual change in house prices in Peterborough is up 10.8% compared to national average of 6.84%. When this growth is coupled with house prices which are below the national average and a strong demand for rental properties, Peterborough offers profitable buy to let solutions. With all of these exciting plans and projects in the pipeline and to take advantage of a city on the up, I believe that now is the time to invest in Peterborough! For an informal discussion to learn more about potential returns, property selection and areas to invest, please get in touch Emma
  10. Hi Everyone, My names Emma, I have been working in the private rental sector for 5 years and I have experience in all aspects of the letting industry. My current role is as the General Manager for a leading letting agency operating out of franchises in both Peterborough and Cambridge. The focus of my role is overseeing the day to day operations of the business, business development, future planning and to help new and existing clients to build and improve their property portfolios. I am passionate about all aspects of the letting industry, but especially buy to let and helping clients, family, friends and acquaintances select properties and find a property solution that will maximise their investment. I completed a level 4 diploma in Residential Lettings and Property Management a couple of years ago and I am currently working towards Associate membership of RICs and joining ARLA at fellow grade. I've joined the Property Hub to get involved in discussions, share knowledge, learn some new things and hopefully help others to with their property portfolios. I hope to speak to you soon Emma
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