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Found 5 results

  1. I'm in a pickle! I have become emotionally attached to my tenant. He's been a model tenant for about 10 years and i have a good relationship with him. He's never asked for anything and takes excellent care of the property, even making little improvements. I currently charge him £475 but a recent valuation recommends £550. I'm happy with the rent I receive at the moment and would love to retain my current tenant, he could easily move on. i'm coming up to a remortgage and told this rental amount may effect my stress tests. I know I'm running a business and I'm calcula
  2. Sorry if this has been answered already, I couldn't find anything when I searched but perhaps I'm not searching correctly. Essentially, I'd like to know if the lender stress test of 145% is based on the gross rental income or net, i.e. before management fees and maintenance fees etc are deducted or after?
  3. I own two buy to let properties plus my residential home. All have mortgages secured on them. I withdrew equity from one of the BTLs (Property 1) before the stricter rental cover tests came into force in 2017. I have been able to refinance since then but choice of lenders has been greatly reduced as many won't touch it due to the large size of the loan against the monthly rent. Property 1 has a value of £375k, outstanding mortgage £246k (LTV 66%), and monthly rent £1075. It is my former home and has seen good capital growth as it is in a prime residential area, but clearly it does not yie
  4. 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
  5. Do we need a new broker or Is this a common theme? The mortgage on our B2L was up for renewal before it reverted to the SVR. A good opportunity to release some funds at the same time to reinvest into another property. I thought! (Following well publicised strategies). Two agents valuations came out at £390K £400k The existing mortgage on the property is £185k For the first 3 years the Property achieved a monthly rental of £1250 no voids. New tenant moved in April this year with the rent agreed at £1375 All documented with a tenancy agreement and manage
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