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  1. I'm thinking that any future property I purchase should be in a Ltd company structure. The only thing I don't like is that anyone would be able to look my name up online and see that I own a property investment company and how much it is worth. I don't mind a lawyer being able to find what I own, I'm just not sure I'm comfortable with my friends and colleagues being able to look me up and say "ooh they're worth £X". Not least because they might not even understand what they're looking at, and possible think I'm far wealthier than I am 😆 Furthermore, there seems to be resentment towards landlords which other investors don't have to suffer. I don't suppose there is any practical way anyway around this..? Also, for the Ltd company's registered address, I was thinking of using a 'virtual trading address' such as those that UKpostbox offer, just so I don't have to give my home address to tenants. Is this something others are using? Thanks!
  2. While it seems common place to refinance properties owned in an SPV and use the proceeds to fund the deposit on further properties, what options are there to access that equity if one doesn't want to grow there property portfolio any further..? Since equity released by refinancing is not a profit, I imagine it is therefore impossible to extract the equity through dividends - one would instead have to sell a property and record a profit?? This seems like a significant drawback to me compared to owning property in my own name, considering that I don't intend to just forever buy more and more property... (but might want to buy enough to otherwise make an SPV worthwhile..) Looking forward to hearing what people have to say on this. Thanks in advance!
  3. Hi fellow forumers, I'm wondering if anyone has experienced a similar set up in the past and can advise me of their thoughts. This is our first development of this type and although we have a good accountant they are not property specific so I'd be interested to hear some ideas. Here goes... We have a development company and are due to complete construction of a block containing 9 apartments next year. As part of the purchase deal, the seller is retaining 2 of the apartments effectively leaving us with 7 apartments. We may sell a couple of flats but at the moment let's say we are going to retain the 7 flats and rent them out. We would like to avoid estate agents fees so we would act as the agent ourselves - marketing, finding tenants, safety checks and certificates, dealing with rental payments and so on. We would also act as the Management Company so in rental terms that would mean dealing with tenants, maintenance and so on. We would also be the Management Company for sold flats (including the 2 sold off plan at land purchase) so would deal with maintenance, communal cleaning, service charges etc. We want to remortgage the 7 flats (currently unencumbered) to receive some funds to move forward with our next development. My question is what is the best set up for this? We have 1) a development company, 2) a rental company and 3) a management company. Should we keep all of these as separate companies or should we keep them all as one company (the development company that currently exists). Is it legal/possible to do this considering requirements of a rental and management company? If we are looking to remortgage to fund the development company would lenders want everything under one company? I'm sure there are other questions that I could raise but at the moment I'd just like to get my ahead around this. There may be someone that has a really simple answer for me, or I may be completely off track with my thinking so would really appreciate any guidance! Thanks in advance.
  4. 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
  5. Hi, wondering if anyone here can help me as I know there are lots of experience property people here! Bit of a long one but here goes....... I’m selling my large flat to buy a house. I have a plan in mind which is: to sell the flat to a property company that I own the company will need a mortgage to buy the flat the property company will then let out the flat at first, my wife and I will rent the flat from my company we will look for a house to buy once we find one we will move out and buy the house in our names then the flat will be let out Can anyone think of any issues about this? In particular I’m thinking about CGT and Stamp Duty. Plus would the lenders have any issues? Re stamp duty, would my wife and I be charged the surplus that applies to those who own more then one property? I’m obviously worried that if the company buys the flat that will count as the first transaction. Then when we buy our house, we’ll be viewed as already owning one property so will be hit with the 3% surcharge on our house (which is likely to be the more expensive property of the two). I’d be really grateful for any thoughts. Thanks. Charlie
  6. 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!
  7. 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
  8. Hi Experts, I just wanted to get an idea if I can claim the "Interest on loan" as an expenses while preparing annual accounts of the Company considering that the loan is taken in my personal name instead of Company's name. Thanks
  9. Evening all, I have set up a LTD co with myself as only director and shareholder at the moment as it was easy to do by myself and should satisfy everything from a Lenders perspective looking at my earnings etc. I have no properties purchased through this SPV yet but want to crack on soon. I have a wife and 2 infant children. I would like to eventually pass on on the wealth created to my children when I pass away so my questions are?: whats the best way to do this? can I set them up as shareholders at this early age or wait until they're older? Would it be a massive issue to change the structure once properties have been purchased? If anyone could give me any recommendations or point me in the direction of someone who can that would be greatly appreciated Many thanks
  10. Hi Hubers, In the latest "TPP 324: Is buy-to-let dead?" Rob mentioned this in regards to tax changes: I would like to build my portfolio for the next 15 years from now and I would like to start tomorrow . Does it mean I should set up an LTD Company and keep buying properties via the company? If yes, then what is going to happen with all that income from these properties? Keep it on saving's account for the next 15 years ? I was thinking maybe I could employ my partner in the LTD company and she would take that income instead of me . What do you think? What are your ideas about it?
  11. Hi fellow hubbers, I'm currently reading 'Using a Property Company to Save Tax 17/18' and on page 195 it says: What are the cases where this isn't possible? My understanding of this is that I've taken out a bank loan, which I've then invested into my company as a director's loan, I am able to claim the interest relief when completing my Self-Assessment Tax Return? If this is the case, what boxes/parts of the SA Tax Return form would be completed to account for this?? Thanks for any help in advance!
  12. Happy new year, I hope you’re well. I have a hypothetical scenario based question and was wondering if you could help. Scenario: · I own a flat (~£550K – £600K) and my girlfriend owns a flat (~£325K. Both are mortgaged. She has now moved in with me and currently renting her flat out. · We have seen a property we would like to purchase together. We envisage funding the prospective purchase through equity release from the flat I own, the sale of her flat, the rest being made up of a mortgage and cash. · The intention is to keep the flat I own and roll it into a buy to let mortgage. Questions arising: · Does anyone have experience in holding a property via a company? Would it be more economical for us hold the flat we keep via a company in which we are both directors? Would this help avoid second home stamp? · Regarding the mortgage on my girlfriends flat which we intend to sell: What options exist to getting out of the mortgage, aside from porting it? Grateful if anyone on here can help here / point me in the direction of a resource which will help?
  13. Can someone help? First time post!! I am looking to buy off plan in Manchester. Apartment is on 19th floor. Will be buying through a Co and some shares in the Company will be owned by a trust. So far lenders are saying no to the trust. Finally found one that was comfortable with the trust but they said no to the high floor. Does anyone know of a broker/lender that would be comfortable with this kind of purchase/purchase vehicle?? Many thanks for any help in advance.
  14. Hi! Me and my associate would like to start a UK-based venture specialised in managing rentals (as well as sub-rentals) of properties in the Southern EU countries. We will have a first initial asset represented by a house that will be owned by this company in Croatia, which we will rent out as a start, additionally we would like to rent a few other properties in order to sub-rent them as targeted rentals for specific client demographics. In the future, when finances allow, we would like to invest in further properties in Croatia and other countries. Selling the properties we invest in now would come in the game only well in the future and is not a major concern right now, only rental profit maximisation is. My associate owns a small and young real estate company managing rental agreements in the UK which is going well and enjoying an initial success. In order to optimise taxation and revenue for this venture (basically a company making profit on rent collected abroad of the UK): 1 - would you suggest us to start a completely new company or use his existing real estate company? Is there a third model you would suggest even more (SPV, etc)? 2 - What would be the benefits and the liabilities of both models in your opinion? 3 - Are you aware if we will be obliged to pay double taxation in the UK and in Croatia on this rental (rent taxation in Croatia, and then corporate profit taxation in UK), or if we can avoid such a thing thanks to specific bilateral agreements between the countries? Thank you for any possible advice! Leo
  15. Hi All, Looking for some help on the freehold enfranchisement process specifically related to the management set up. Shortly a building with 4 flats (converted) will be taking the freehold enfranchisement route. All 4 landlords are happy to be involved. Nice and easy so far. As part of this we will need to set up a Ltd company to own the freehold and manage the building. This is where I have some questions. 1. The company will have 4 directors - does this in anyway link these people together outside of the company. 2. I understand after year 1 you can ask companies House to register it as dormant as its a freehold management company, however if there is money coming in and going out (not for profit) to manage the company (gardening, communal lights, savings for roof etc) does this matter? Will tax returns be needed still? 3. A bank account will need to be set up to manage this building per the above. What is the best way to set this up? 4 directors on one account seems messy and will surely link everyone together financially, but a single person may be perceived as risky for the others. Any advice here would be greatly recieved. Thanks
  16. Hi Everyone, I'm completely new to property and really hoping someone can give me some advice. Basically me and my sister are looking to go into property investment together, from the people we have spoken to they have said most people these days are setting themselves as a LTD company for Tax purposes. However no-one has given us any advice other than that and i'm wanting to know how i can work out if this is going to be the best route for us to go down. . . . Also someone has mentioned an SPV to me and that this is the better option than an LTD, Please can someone tell me which is the better option, or pro's & cons of these as i really dont want to get this wrong so early on and im not entirely sure whats right as so many people say different things. Thanks so much :-) Lou
  17. We applied for our first BTL mortgage through our Ltd Company last year and were not entirely surprised that it was insisted that the directors of the company were personal guarantors... But will this be the case forever? I have several questions: 1) Is this normal? 2) At what point will a lender lend to a Ltd Company without the requirement for guarantors? Do they start to take into account the portfolio? Capital in the bank? Previous BTLs? Thanks for taking the time to answer, Jordan
  18. Hi All, I need some advice on a possible way forward to build a property portfolio. To give you some background, there are four (4) family members who would be contributing the initial finance required in order to purchase properties with a mortgage. Two of the family members are based in Europe (and come to the UK on a regular basis) and the other two are based in the UK. The properties we are thinking of buying will all be in the UK. The advice we need is as follows. From a tax efficiency point of view, is it better for us to form a limited liability company or to buy property on a individual basis. If we were to take LTD route then the initial capital required will be loaned to LTD company by the 4 directors. Our objective is to build the property portfolio for a long terms basis (minimum of 5 years). We are conscious of the tax changes which came into effect April 2016. On the personal basis, one of the members (based in the UK) is on a high personal tax bracket and the other is on a basic personal tax bracket. Any advice or insights would be greatly appreciated, Charles
  19. Hello people, I'm looking for advice on whether I should open up a ltdc ompany. I have just had an offer accepted on a property which is why I am planning to open the Ltd company now so that I can purchase the property straight in to the company and avoid a double stamp duty by buying it in my own name, then selling it to the company once formed, which I believe the sale price must be at market value? My future plans are to expand my rental portfolio as much as possible aswell as possibly doing some flips. I also have one more property in my own name which I would like to put in the company what would be the most financially beneficial way to do this? Any advice will be much appreciated. Thank You
  20. Hi all, First post, so go easy on me. I'm UK expat living in Munich with my German wife and seriously interested in starting the property investment journey back in the UK. I'm in the early stages educating myself through the excellent TPH & TPP resources, making connections, getting advice and already meeting early challenges. One such challenge is Expat BTL mortgages. I've had some helpful conversations so far with brokers and mortgage companies direct, but the initial issue seems that most will only offer Expat BTL on a min loan of between £100-150k. However, I think the numbers will only really work on good value properties in Northern cities, where great opportunities can be less than £100k, plus as our first investment, we don't want to over-stretch ourselves. On this the cogs started whirring and I thought: is it possible to set up a Ltd company with a family member \ friend based in the UK listed as a director\share holder and try to secure a Ltd company BTL mortgage without the Expat rates and a lower or no min loan value? Any ideas if this is even possible or any potential problems or implications? Cheers Tom PS - I'm flying over to the UK for the August meetups. Any suggestions on which I should attend (I fly into Manchester)? I know they'll all be great and helpful, but should I go where I'm interested in starting or any city better for a Newbie?
  21. Hello All I am currently buying my first UK BTL property and I have decided to buy in a LTD company. I have a deadline to meet as the property is a new build so I need to know if I have time to set this up. I do already have another UK LTD company I use for work purposes, so I have an accountant etc in place. So the question is, in general from start to finish how long will it take to set up a new LTD company to buy the property with? (The mortgage offer is in place already, to buy through a LTD company - so its just the company side to do) Thanks Matt
  22. Hello I'm currently in the process of buying a property via a ltd company. I'm being charged a floating fee and also £650 + VAT for a deeds of subordination? Has any one else had this issue? Can someone explain it in a clear way and what it means for me and my company? Thanks Howard
  23. Hi, Has anyone setup a limited company recently for the purpose of purchasing new BTL properties? For me the accountants I have spoken to have advise setting up an ltd to be more tax efficient but they have also advised checking with lenders on what their criteria would be in terms of how the company is structured etc. I've done some investigating with lenders too and so far have found out the following critieria would be needed: 1. No more than 4 directors. 2. Use one (or all) of SIC codes 68100, 68209, 68320, 68201 3. Personal garauntees to be provided. Was wondering if this was all that is needed in reality or if there were additional structuring/layering requirements that should be met. I am looking to set the company up myself and therefore trying to do the ground work to avoid costly adjustments later down the line to correct something that lenders may not like. Keen to hear from anyone that has been through this process already and their experiences in doing so Thanks Harsh.
  24. I have recently become the joint freeholder of a block of 4 flats. The previous freeholder had been missing since 1989 and there was nothing in place to collect a service charge and to generally maintain the property. It has taken more than a year but we have now taken control of the freehold and now want to set up a management company to allow us to collect a service charge to pay for building insurance and to maintain the property. Can anyone advise on the setup of a management company for freeholders? I assume we just need to set up a limited company with the two of us as directors but as it wont be a company earning any money, just collecting money to pay the bills, is there a special way of setup in terms of HMRC? Also, any special business bank account required in this respect. Any advice welcome. Thanks, Jon.
  25. Hello all. I have a project with 3 stakeholders (property owner, builder & myself) and I need to structure a legally binding deal to ensure clarity or purpose and ensure everyone is paid. The project is to build an apartment on an existing property. The property owner already has planning permission but can't afford the build cost. I have a builder friend who will do the work and get paid either through refinancing or sale of an apartment (there are already 6 other apartments in this large block). Does anyone have any experience or advice for setting up this type of deal and/or using an SPV (special purpose vehicle or company) for this purpose? Many thanks. Chris
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