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Found 13 results

  1. Hi All, I'm looking for some advice if anyone can help me I currently own a BTL in Nottingham with 61% LTV. The deal I currently have is a 2.58% repayment mortgage until the 31-12-2023. To exit the current agreement I believe it’s between a £3000-£4000 exit fee given that I originally got the deal on a 5-year fixed. My goal however is to change to an interest only mortgage and I’m looking for some advice on whether this is first and foremost sensible and whether it makes sense financially to do so given what’s available in the market? Because of the corona virus, is there anyway I
  2. Hi everyone. I'm new here but listened to Rob and Rob's podcast for quite a while. I'm hoping someone can help me. This is the first year I've had to do tax returns (I own one BTL since January 2019). There is plenty of advice online about section 24 and I'm aware 50% of it can be offset for the tax year 2018-2019. But I can't find anything about what the tax rules are for interest on other financing. I remortgaged my residential property to pay the deposit for my BTL property. Can I claim the interest I pay on that as an expense for tax purposes? Also what about if I borrow the mon
  3. 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
  4. I will give a short summary and eager to hear your thoughts about how to be smart about how to fund my company. I am a Swedish citizen (living in Sweden) setting up my UK LTD and have understood that expeses can be deductible even if the occured prior to the launch of my company. BUT if I have had eligable and deductible expeses of 1000 pounds (personal and taxed money), that 1000 can only be deducted against revenues to reduce my corporation tax. Which means I "save" 19% (190 pounds). Still that 190 pounds will have to be taxed (personal income or similar based on our Swedish rules)
  5. Hi everyone, I have a 50% share or a property I jointly own as 'Tenants in Common' with one other owner. I would like to sell my share to a third party (the second party is not able to buy). I don't live there. I am not really interest in partitioning, or letting my share. Does anyone have experience, advice, or interest in this type of situation??? Many thanks
  6. 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!
  7. I have engaged an accountant for the first time to prepare my 2016/2017 tax returns and I am not 100% convinced that their advice is correct on a particular aspect. The situation is this: 1. When I remortgaged my home, I borrowed an additional sum to invest in my first BTL. You could say that the total loan comprised two parts: Part A - the part needed to repay the existing mortgage on my home; and Part B - the additional borrowing to fund the BTL. Part A is about three time larger than Part B. All of Part B is being used to fund the rental property business. 2. I
  8. Hi, My dad had bought a house in 2006 on a interest only basis, he had tragically passed away few years later in 2009. The house had automatically transferred to my mums name as she was named the next of kin. However, does that mean the house is fully paid off cos she still make payments to the mortgage company. He had insurance which means it should have covered the mortgage right or does it mean the interest has been paid but we have to start paying the actual money for the house ?
  9. Hi I'm new to the property hub and I am looking to start my first investment next year in Norwich. I just wanted to know if the majority of investors use interest only mortgages for buy to let property's? And also if I could get an example of how you would eventually pay off an interest only mortgage in a buy to let. Many thanks look forward to hearing from you! Scott
  10. Please read and share the following articles, the campaign against the Budget changes has hit the national press, we must do our share to continue it's momentum, write to local MP's, educate fellow landlords who have not yet realised what will hit them in 2020, use any useful contacts in the media to get the word out. http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816726/Buy-to-let-tax-My-five-properties-were-my-pension-now-my-tax-bill-will-jump-38pc.html?fb_ref=Default http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816720/Death-of-
  11. Hi all! I recently discovered this article that suggests buying a house now, whether it's residential or BTL, is a terrible idea. I would be interested to know what your thoughts. Matt https://www.linkedin.com/pulse/fallacy-home-ownership-siam-kidd?trk=prof-post
  12. Hi, I'm Mike! I'm renting rooms, parking, music studios and developing commercial property, laying plans for BTLs in 2016. What you've done in property so far: Developed 2 Music studio spaces in Zone 1 London (Commercial Lease) Rent out 2 rooms in London Fields Rent out parking in London Fields What areas you invest in (or want to invest in): Elephant & Castle, Hackney, Acton What your plans are for the future: My 7 year interest only mortgage on my 2 bed flat on London Fields ends April 2016. Being Self employed, I am looking investigate al
  13. Hi, Having completed my first HMO for cash and let it out, I am now looking at refinancing using commercial lending to get my money out for the next project. There are a number of options on offer and the issue I have is whether to select interest only or a repayment mortgage, as there are pros and cons of each which I see as follows: Repayment Pros Repaying the capital creating more equity over time Additional equity can then be released at a later date to re-invest generating more cashflow No personal guarantees are required 20 year term Forthcoming Interest rate rises do not im
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