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  1. Hi All, I have been quoted £77+VAT a month for a property accountant for the accounting of my SPV, which will hold 1 buy-to-let property (for two years). My first question, is this a good rate? My second question is, is this value for money as I will only have one property? Or would I be best served paying a property accountant once at the end of the financial year to complete the relevant company tax documents? Thanks in advance, Joe
  2. Hi, I'm selling my 2 bed house in Manchester and all was set up and ready for completion, when buyer was furloughed in beginning of March. Her bank didn't approve the mortgage until she goes back to work. Will bank release the mortgage money as soon as she will go back to work? Or does she have to bring few payslips after she starts to work to prove that she can afford the mortgage? While waiting for buyer to go back to work, I am thinking about plan B. Plan B: I potentially don't want to sell the house but to rent it out. It is 2 bed house bought for £115k as a new build 5 yea
  3. Hi PropertyHubbers, I'm new here and wanted to say hi. A short summary of my situation: I'm currently living abroad and own a property on the outskirts of London. Thinking of moving back to London in the summer and weighing up possible strategies that would enable me to work part-time and focus on property investment/trading the rest of the time. There seems to be a lot of knowledgable members on here and I would be keen to listen to any advice that might help. Initially, I was thinking about focusing my time on flipping property and then reinvesting profit into BTLs (I appreci
  4. Hi there! Just wanted to know whether we are missing something obvious!? Or if someone else is asking this same question? With BTL mortgage borrowing rates at 3.4% in a Limited Company, how is leveraging favourable inside a Ltd company? Compared to 1.4% rates on a personal BTL mortgage? Mortgage rates are significantly different (higher) for Ltd Companies so affects the ability to build a portfolio with basic leveraging? Any insight / thoughts / strategies / lender recommendations would be fabulous! Thank you
  5. Hello, I am buying a BTL property through a Ltd company. I have the mortgage offer accepted. The lender wants a fixed & floating charge on the company and any future properties bought by the company. Will this be a problem when I want to buy a second property through the Ltd company. The solicitor said this is a standard procedure, but also said there may be a problem when I want to buy a second property. If anybody has any thoughts on this please could you share it. I want to understand what I am getting into. Regards Suhu
  6. Hi fellow hubbers! I've been skirting around actually coming to introduce myself for a while, but am now taking the plunge. Probably like many others, I've been listening to the podcast for quite a while, and have read most of Rob D's books too. I'm currently very seriously thinking about beginning investing in property but, as of yet, haven't taken the plunge! One thing that I wanted to see if any other forum members had any experience/guidance in is passing money from an active Ltd company to another to begin funding my property investments. I 100% own a company that has a fairly
  7. Just trying to get my head around tax... You own a limited company, which in turn owns a rental property which makes £5000 profit each year. Within one financial year you reinvest all the profit on a new rental property owned by the company. In this example, is there any corporation tax to be paid? Or does the fact that you've reinvested the money mean that your business has no longer made an overall profit and therefore you don't have a corporation tax bill? Thanks :-)
  8. Hi, I am aiming to transfer two properties which are currently in my name into a ltd company. I don't have the funds in the ltd company to put down a 25% deposit on both properties. I would effectively want to use the money released from the sale as a director's loan to buy the properties. Is this possible? Or is there any way to transfer the properties without saving up a whole new deposit? Furthermore, does any property bought by a ltd company incur the extra 3% stamp duty, or is a ltd company exempt from additional stamp duty for its first purchase? Thanks
  9. Hi, looking for some advice as i cant quite seem to get my head round the best thing to do, so here is my quandary:- I own 6 x BTL property, all with personal BTL mortgages on, all in mine and my brothers name. My accountant is telling me that i should start to move these properties across to a Ltd company. At a high level this makes perfect sense as we limit our tax liability as we are both higher rate tax payers, but here is my scenario and to use one of the 6 properties as an example:- NB: all figures have been rounded for ease. Current property value is c. £160K, mortgage ba
  10. Hi Everyone, This is my first post after listening to the podcast for a few years, and unsurprisingly it relates to SDLT. Myself and my wife use to own a London flat (main residence) before we were married, which we sold back in 2016. Since then we've been in rented accommodation. We're now looking into starting our property adventure but would like some advice on the following. Given we sold a primary residence and have not completed the purchase of a replacement main residence before the 26th November 2018, it looks to us we will need to pay the additional 3% SDLT if we buy an
  11. Hi hubbers, I was hoping for a little bit of advice. My wife and I are currently looking to buy our 2nd BTL and we are not sure whether to buy in a Ltd company or not. We are both basic rate tax payers and can afford to buy in our personal names and not be pushed into the higher tax bracket providing we equalise our salaries (although we will be close to the 40 percent tax bracket). We are both 27 and I would like to think that in the next 3-5 years we would have had pay rises making us higher rate tax payers (myself more so as my wife is now working part-time). So my question i
  12. Hi, I'm looking for advice going forward with regards to living off my rental income and future remortgages. I'm thinking forward and looking at the possibility of living off my rental income in the near future. I'm looking to save up a lump sum to live off initially and would like advice from full-time property investors. 1st question is, once living solely on rental income, how easy is it to remortgage your BTL's and home mortgage? Have you done this? which lenders do it and what criteria are they looking for the least? and what's a typical
  13. Hi All, Been following The Property hub for a long time and an opportunity to purchase a property has come up that I would like some advice on, in short: A 3 bed mid terrace property is to be auctioned in a couple of weeks with the starting price around 100k BMV for area, I'm well aware this is likely to go higher. The property has been repossessed, has internal water damage and needs a complete refurb. The numbers seem to stack up from my calculations. I will be viewing it to have a proper inspection this week to get more of an idea on the work. My intention is to refurb pull money
  14. Hi, My name is Dan. I have recently started a ltd company and am looking for recommendations for sourcing companies, investors and bridging finance companies. For the experienced investors... - what would you do differently knowing what you know now? And That you wish you was aware of when you started your journey? Thanks in advance Dan
  15. Hullo! I think I know the answer to this but just wanted to double check as I can't find this specific example in the HMRC guide to stamp duty surcharge (although admittedly I may have missed it as I became glassy eyed half way through!). So I am planning to set up a SPV Ltd Company for my BTL portfolio. I currently don't have any BTL but I do jointly own a house, which is my main residence. My question is will my 1st BTL, purchased through a LTD Company be considered my 1st or 2nd home.. or in financial terms... will I have to pay 3% SDLT or 0% (assuming it falls under
  16. Hi all,I am currently planning to go into business with my step-brother, building a buy to let portfolio. We are trying to work the best way to set ourselves up. (Buying properties as individuals, jointly or in a Ltd company. )He is employed with an income above £25,000, as am I currently. However, I will soon be leaving my current job to set up as self employed. I know that directors’ incomes are assessed when a Ltd company applies for a mortgage so does the fact that one director may have insufficient income make getting mortgages impossible?We want to make sure we start in the correct way.
  17. I currently own 6 buy to Let properties; 3 in Birmingham; one in Liverpool, one in Buckinghamshire Nd one in Croydon. The properties are a mix of 3 1-2 bed flats, one HMO and 2 2-3 bed houses. given the tax regulations changes I am looking to put these into a ltd company, I currently have the company registered since September 2016 and the company bank account set up. However I have no money going in or out of the property account yet as I need clarity on the best way to move the properties over from personal ownership to company ownership without losing money on selling them from
  18. Hi all, I did try to search for an answer to this but could not find anything so sorry if i've missed it. Myself and my business partner (both 20% rate tax payers) are looking to buy our first BTL property soon. Our goals are to recycle our deposit as best as we can and continue purchasing property. The properties will hopefully be used as a pension, and eventually passed on to both sets of family members. We will not need to use the monthly cash flow initially (other than to reinvest), but in 5 years hope to start using some of it to allow us to drop down a day in our jobs.
  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 compa
  20. Hi Hubsters, Recently stumbled upon Rob & Robs pod cast as I am keen to make my way in the world of property investment. I don't think I have an issue financing the odd buy to let or flip project but I am in need of sound, genuine advice as to where to start and what my first moves should be. Lets say, I have the funds in place to buy at my disposal... I want to find a property 20-30% under market value, so I look at auction sites /repossessions etc... what happens next? I see one in an area with all the right fundamentals. Do I pay for the property to be surveyed?
  21. Hi Hubbers I’m after some advice for setting up my first company for the purpose of - purchasing and letting my own property managing the letting of another property owned by a different company I am planning to use the following SIC codes: 68100: Buying & selling of own real estate; 6820: Other letting and operating of own or leased real estate Are there any disadvantages of having more than 1 SIC code? Thanks in advance for your help Joe
  22. Hello all, I'm after advice from experienced investors out there. My partner and I are intending to purchase our first BTL on a 75% LTV mortgage soon but are still unsure as to do it in our names or as a company. I am in full employment earning 50k. She is self-employed and in the last tax year earned around 45k. We plan to start growing a portfolio over the next few years, hopefully with 3 or 4 before the inevitable crash in the market. We would probably reinvest the majority of the income but draw on it occasionally, when for example my partner is between jobs or we h
  23. Hi guys I'm a contractor and receive my salary through my Personal Ltd Company. I'm looking to purchase a buy to let via a separate Property Ltd Company/SPV. I'm looking for advice on the most tax efficient (i.e. minimising dividend tax) way to transfer funds for the deposit from my Personal Ltd Company to the Property Ltd Company/SPV? I'm going to discuss with accountant but would appreciate some background knowledge beforehand. I've seen various suggestions centering around making a loan between the two companies...
  24. Hi, Please does anyone have any advice or know anyone that does, regarding setting up and structuring a JV Ltd company, with a view on minimising inheritance/tax liabilities when extracting or transferring any assets after a 15 year period. It will have 2 controlling directors (Myself and JV partner) and 2 non-controlling shareholders (Spouse's), with a view to buy, hold and re-invest in multiple BTL properties over a 12 – 15 year timespan. At the end of which we would either: 1/ Sell everything and extract any profit in the most tax e
  25. Hello, I am an expat with 2 properties in the UK, I plan on moving back to the UK at some point maybe in the next 5 years. I'm thinking of setting up a limited company to buy future properties through and also move my existing properties over. By moving my existing properties over to a limited company would I have to pay any tax? Both properties are valued less then 100K.
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