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Found 267 results

  1. Hi All, I'll be heading up to visit Liverpool at the end of the month to get a feel for the place and view some properties. Im looking to get my first BTL here and I'd enjoy the chance to meet a local and talk about the city, its pros and cons, and what opportunities to look for over a coffee/ lunch. If anyone is around, please get in touch! Best regards, Alex
  2. My sister and I are in the process of purchasing our 1st property through our Ltd co, a 2 bed flat in Liverpool city centre close to the Liverpool Waters area. The deposit was paid on this, off plan, last year and it is due to complete in 6 weeks. We used a mortgage broker who was highly recommended on this site who submitted a mortgage application which was declined. We have been advised that any further applications are also likey to be declined and he has recommended that we withdraw from the purchase of this property. The main reasons cited were that it is an investor area wich would limit the re-saleability of the property and that there are a high number of developments in the area with many more planned. The developer is also offering a 7% net rent return scheme which the broker advised is further reducing the lenders available to us. Having done our research on what we thought was a good investment, we were shocked to hear this. Has this happened to any of you before? What are our options now? Is this scaremongering from an overly cautious (but experienced) mortgage broker or do we heed his advise? Many thanks if you have read to the end. We would really appreciate your views and advice.
  3. Hey everyone. I'm new to the forum but have heard great things from other folk. So I have a residential property where I currently stay and I have a company with 2 BTL flats. I now need to move out of my current residential, buy another one, but keep my existing residential for my parents. I'm trying to understand who should purchase my second residential property, as I plan to stay in it for a few years then convert it to a BTL, when we move to another bigger place in the future. We have the dreaded 4% extra stamp duty up here in Scotland which really sucks. My plan was for me to to buy the new second residential in me and my wife's name but we are both high rate tax payers and when we switch it to a BTL in a few years, we will get taxed heavily on the income. If I sell it to my company in a few years time, the company will be hit with the 4% I think. So do you recommend that I buy the new residential in my Ltd company, if I plan to rent it out in the near future anyway? And if this is the case, do I need to rent it off my company? My accountant is not the best and actually recommended I ask on this forum for any tips lol! Thanks in advance for anyone taking the time to reply
  4. My mother owns her own home outright which is worth about 110K. We are looking to invest in BTL together and have 60K capital between us; how do we go about releasing the equity in my mother's home so we can use the capital to cash-purchase a BTL property? Any advice greatly appreciated!
  5. Hi All, In the middle of remortgaging my BTL and the broker came back to me staying he could get me 33K Additional borrowing with the Life time variable rate or 40K+ with a 5 Year fixed. (FYI 40K additional would still leave me around 30% LTV). Why would banks be willing to lend more on the 5 year fixed vs the Variable rate and what are the drawbacks from this vs each other. Thanks Eamon
  6. LendInvest is launching a range of buy-to-let loans aimed at professional landlords and investors. The specialist lender, which to now has focused on bridging and development loans, says these new BTL mortgages will be “competitively priced” and include two-, three- and five-year fixes. Rates start at 3.69 per cent for a two-year fix at 60 per cent LTV. The firm will offer loans of between £50,000 and £5m, up to a maximum LTV of 80 per cent. “Offering BTL loans is a critical strategic step that not only serves to addresses a funding shortage, but takes us close to our long-term ambition of becoming a leading whole-of-market mortgage lender.” Just looked on their website and “There is no limit on the number of properties held or mortgaged by a portfolio landlord with other lenders. Properties owned abroad will not be included within the portfolio calculations.” Great news for portfolio landlords who would like more options. Wanted a detailed quote based on your circumstances: Neil@assuredfunding.co.uk
  7. Hello All, I am currently purchasing my first BTL so whilst this process is going on I thought I would look in other areas of the country to invest in. I was wondering if anyone on here has had any experience in purchasing a BTL in Sheffield. I have done a little bit of research myself and possibly the post code S2 fits my criteria. If anyone could give me more info on this area or Sheffield in general it would be much appreciated. I am looking for a 2-3 bed house for about 100-110k. Kind regards, Jay
  8. Hi everyone, Would appreciate your expert advice please. I need to remortgage two properties. One which is held in my personal name and another which is held in my limited company. A factor in mortgage rates is if they have an upfront fee and how much it is. I'm looking to understand if mortgage upfront fees are tax deductible as an expense for: 1) BTL mortgages held in personal name 2) Limited company BTL mortgages Can anyone help with this? Additionally, would be great if you could also point me to the government literature / webpage which details the policy surrounding this. Thanks a million! Darren
  9. My first post on here.... I'm looking for High Yield BTL's 8%+ I live in Leicester, which has low Yields, even in the cheaper area's of the city (Narborough Road etc) Nottingham has been my next step after listening to the Podcasts but I cannot seem to find any High Yield Property Has anyone got any suggestions? I would like to self-manage, but I am open to having my property managed if the numbers stack up. Also I am open to buying property in other locations but would like them within 1-2 hours of Leicester Appreciate your feedback PS. I do have experience over the years of managing property... upto 30 properties at a time including HMO's before a licence was needed
  10. Hi all, Very new to the world of property investment and even newer to Property Hub. What areas around Liverpool and the Greater Manchester areas would you recommend for strong yielding BTL houses or flats. Full Market Value of the properties would be anywhere between £80,000 - £110,000 (flexible either direction), would be looking to buy the properties BMV and refurb accordingly. Capital Growth potential on the properties would be ideal but not of utmost importance from the outset. I realise it is a big net I'm casting here but any advice/comments would be greatly appreciated from you guys and gals. Kind regards, Ian
  11. Hi all, Firstly my apologies for not posting anywhere near as much as I should! It is renewal time for my BTL, and I am torn between fixing in between 2 and 5 years. The two options provided by my mortgage broker makes the 2 year (2.19%) cheaper by £376 over the first 2 years, however I am swinging toward the 5 year (2.44%) for the peace of mind over the next 5 years whilst we deal with an potential fall or from the B word, whatever that may be... Appreciate everyone’s circumstances are different, but would love to hear what sort of length terms people have been, are, and are planning on going for on their recent deals Many thanks
  12. Hi All, New to Property Hub and Prop Investing in general, just posted an intro within the relevant forum if you'd like to say hi! There's a burning question which has been on my mind since I dipped my toe into property investment (and probably should have sought an answer to before taking the plunge).... The 'Breakeven Point' - How long should it take? Recently i've purchased my first BTL (£68k 2 bed). So as not to bore you, I won't give exact financial specifics, but to summarise: £2k Stamp £5.5k fees (includes sourcing fee) £5k refurb Total initial outlay therefore = £12.5k Assuming zero capital growth and assuming I receive the rental income I expect to receive, and deducting expenses (including a 10% allowance for repairs, Thanks Rob) i'll net circa £240 per month. This means it'll take 52 months to hit breakeven. Nearly 5 years!? Overall this just seems unviable. It seems too long to be waiting to reap the rewards of a significant financial investment that frankly could be put to work elsewhere (ie Stock market) and also, once I do hit month 53, the market may well be in decline (ie recession) and I wont even have chance to enjoy the passive income, or at least not as much as I might have hoped. I'm hoping that somebody may be able to reassure me and tell me that I am looking at this completely wrongly, ie not as an investor should? Maybe 'Breakeven' isn't something that is even considered in property investing, as I did struggle to find a forum that addressed it. Or is this just the nature of the beast, and patience is key in this game? Any honest and frank responses absolutely welcomed! Thanks Dan
  13. Hi all, New to the community and first post on this site. I am a UK dual citizen living and working in Australia. I was hoping to get some advice regarding my ability to secure a BTL mortgage with only Australian income? Thanks in advance!
  14. Hi guys, This is my first post in the forum! A bit about me and my situation to begin. I'm 24 and live in Chelmsford, Essex. I bought my own flat BMV in May 2018 and have just completed a full refurb on it to add value. I am hoping to finance to the new value and pull out equity to invest in April 2020 when my mortgage product runs out. I have also saved £17k cash that I am looking to put towards a BTL investment now. I am investing mainly for cash flow for the time being. I'm a fitness instructor and teach around 20 exercise classes a week as well as seeing sports massage clients, teaching swim lessons and managing a gym in central London. My job is very physically demanding and I want to have a revenue stream from property that I could fall back if I were to get injured and be unable to teach. I have been concentrating my search in Liverpool as it has seen a lot of growth and development in recent years but is still cheap enough that I can afford a starter two bed terrace or apartment, around £60k. I am going up on Monday to visit but am looking for some insider knowledge before my trip as all my own research is producing contradicting views on how rough some areas are! I have booked to view some properties in Bootle, Wavertree and Wallasey but have heard mixed reviews about all three areas (which I suppose is understandable as they are clearly the cheaper areas of the city). Do any of you currently invest or live in these three areas? Have you experienced any problems with tenants or struggled to let out properties in these areas? Are there any other postcodes I should be looking in to with my £60k budget? Any advice would be massively appreciated
  15. Hi folks, I am new to the Forum although have had a keen obsession in all things property related for many years now! I've finally decided to do something about it & am in the early stages of research - listening to the podcasts & reading up on all things relevant. I live in Edinburgh & my initial plan was to refurbish properties & sell on - flipping - the new term I have recently learnt! I had planned to start off in Edinburgh as I know it extremely well, buying at around £150,000, refurbish & then sell on & repeat. I had planned to try & raise the money myself through a combination of equity in already in our home, selling a property we already let in Edinburgh (bought by my husband in the winners curse period 2007 & valued at less than he paid for) & various other sources. However, having listened to the 2 Rob's I am now rethinking my strategy (leverage, inflation, opportunities etc) & feel perhaps I should go down the lettings route initially, starting off with one property (around £150,000) on a BTL & then another one in 6 months time once I've learnt a bit more & hopefully a 3rd after that. Perhaps moving onto flipping after that. I will be focusing on the Edinburgh area but will also consider East Lothian, Fife & Stirling. I'm looking for some advice on the following: Do you property investors out there think I've missed the boat for flipping in/ around Edinburgh area? (I have listened to the intriguing 18 year cycle podcast)! Does anyone know of a resource that summarises all of the key financial considerations I need to factor in for purchasing, letting, selling properties (i.e. stamp duty, estate agency fees, Solicitors fees, management fees, tax charges etc)? I have a lot of these noted already but want to ensure I don't miss any in my calculations & also to help me decide on my strategy. I am keen to set myself up for success - so any other information you think may help me decide/ determine my strategy would be much appreciated! Thanks :-)
  16. Hey Guys, I am new to Property hub as I have just started looking in the UK market due to the Australian market being incredibly unpredictable, difficult to gain a positive cash flow and potentially heading towards a correction. I would be looking at some small buy to lets to start in the Northern belt of the uk, Manchester, Leeds and Liverpool area. Great to meet you all. Thanks, Luke
  17. Hi all Apologies if this has been covered previously, I have searched for it but could find anything specific. I have two questions, as follows: 1) I am resident in Guernsey - still part of the UK - does anyone know if this would be a problem for me in trying to obtain financing for a Ltd Co from a UK provider? 2) Do I need to be a homeowner in order to obtain a BTL mortgage through a Ltd Co? My partner and I are saving for a deposit on a BTL and would like to purchase this before we think about buying our own place (we have our reasons, many of them) but I want to know if this will prove to be an issue for lenders? Does anyone have any experience of this type of scenario? Thanks in advance!
  18. Hey all, I'm in the process of planning a new venture in property development. Over the past few months I've visited properties, built myself a comprehensive budgeting spreadsheet (that factors in all purchase, finance, holding and remortgaging costs), and gathered enough data to be able to run a simulation of my intended BRR strategy. The result has been discouraging! It would appear that given my starting capital of £100k, I'll run out of funds by my third purchase. Would an experienced developer sanity-check my simulation and confirm this? If this is indeed true, what would you suggest as a more realistic strategy to build a portfolio? A mix of BRR and flips? The BRR Simulation (this is based on figures from an actual property visited, costed, estate agents approached and comparables found) I have starting capital of £100k I buy Property A (a two bed terrace) for £120k. I use a 70% mortgage of £84K, and I put in £36k Purchase, renovation and holding costs for 6 months are a further £36K Hence, my total investment is £72k I have £28k left in the bank The house is remortaged after 6 months redevelopment for £190k The 70% mortgage releases £133k ·After paying back the first mortgage there is £49k equity released I own one property and have £77k capital left in the bank I use the money to complete Property B, which is identical, buying for £120k, again investing £72k I have £5k left in the bank The house is remortaged after 6 months redevelopment for £190k The 70% mortgage releases £133k After paying back the first mortgage there is £49k released I now have two properties, but only £54k capital remaining in the bank, which is insufficient to buy Property C BTS Conversely, if I were to use a Buy to Sell strategy, this 'model' property would make £23k after sales costs and corporation tax on my business, so things are viable. However, my goal was to build a portfolio as quickly as possible, not to flip, as this is intended to be my pension. What would you advise in terms of strategy? Flip for a while to build more capital, then revert to BRR, or to alternate between the two? Many thanks!
  19. Hi everyone, I am looking at the smartest way to start my property portfolio. I have set up a ltd company to manage the property and the income as I am a higher tax payer and at 28 this is a project for the long term and not short term gain. I will Ibe loaning the company £30,000 and was wondering what the best way to minimise the tax I have to pay on this. I have read that directors loans can be paid back without tax being paid on the rental income. I have read that I need to set up a second company to loan the money. I was hoping to just get some clarity on the best way to invest the money in the company and then pull the money back when the company has enough to pay the personal loan back all the while paying minimal if no tax on this? Any help would be greatly appreciated. Thank you josh
  20. Hi all, This is my first post and I hope someone can help! My gf and I is looking to buy our first BTL property under a limited company and I understand that we will need to do personal guarantees against the mortgage (which is fine). We both have our own residential mortgages , however, she has a help to buy equity loan on hers. I understand that with HTB you can’t own another property until you have paid off your existing equity loan (or sell the property) . Is this also the case if the property is purchased under an ltd company as it is a separate entity? Many thanks in advance, Jordan
  21. Hi everyone, just looking for some advice on a strategy I'm looking to go ahead with this year. Also would like to know people's opinions on wether to go down the personal route or buy through a ltd company in my situation. So me and my dad have £50k saved to invest, we are both lower rate tax payers, my dad owns his own property that he lives in, I don't own my own property. We are both self employed. Our plan is to buy a run down property, flip it and make a profit. We plan on doing this 2 or 3 times depending on how much profit we make. We will then purchase a bmv property to renovate then let out and remortgage, pulling out some of or most of our deposit. I think I am right in saying after 6 months of owning a btl you are considered an experienced landlord and are eligible for a HMO mortgage with certain lenders. If this is the case the plan would then be to buy a run down 4 bedroom house, convert in to a high end 5 or 6 bedroom HMO, let it out, remortgage to a commercial lender, and go again, building up a portfolio of HMO property's. This is a very rough strategy, but just wondered your thoughts on how this would work, and also if it would be best to start up a ltd from the beginning, or leave everything in our personal names. Bearing in mind our plan is to use the profits made from the HMO's as income. look forward to hearing from you Scott Laws
  22. Hello Hubbers! Hope you are all well... I was wondering if any readers would share their experiences of Deed of Guarantee signings required for their Limited Co BTL mortgages. I can’t find much reference to it in books or on this forum or the wider web, and professionals I’m dealing with such as Solicitors and Brokers are giving me contradictory opinions on it. Some are saying it’s unheard of and I should be able to negotiate out of them with the lenders, others act like everyone has to do it, so I’m fairly confused. I have a Limited company with my sister who is a small shareholder and director just for security and ease of continuation should anything happen to me. Our mortgages are with TMW and every time we sign up we both have to see an independent solicitor at £120 a time to sign a ‘Deed of Guarantee’, basically tying our own estates into the company finances and assets. Of course this takes all the protection out of using a Limited Co Vehicle, so aside from the tax benefits it’s a lot of hassle for not much other benefit. So who has signed them and who hasn’t and what are your thoughts on the matter? Regards.
  23. Hi everyone, I've found myself in a bit of a predicament with an impending divorce and trying to figure the best way to navigate out of this situation. Any advice on the following details would be much appreciated. I have a property jointly owned with my ex. We have amicably decided she should get her share of equity that we've made plus any contribution to previous renos costs. This comes to approx. 60k. My issue is how best to raise the £60k. The easiest option would be to sell up and start again. However I've put a huge amount of work into renos and improvements over the last 18 months so would love to keep the place if possible. It's in a great area of town where values are rising and the rental market is strong so it should be a good investment. Current value £430k. Current resi mortgage £260k. Potential BTL interest only mortgage £320k. Monthly rental value approx. £1,400. I'm also a contractor with my own limited company. If hugely beneficial I could look into buying the place through the ltd Co. (Not sure about the mechanics of this at the moment though). Looking forward to any ideas what you'd do. Cheers
  24. Happy Easter All, I was curious what ROI percentage and net yield do you look from from a buy-to-let? Thank you in advance. Joe
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