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Andy from Lancashire

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Hi there, fairly new to property investment and recently joined property hub.

I have 3 properties of my own but have recently setup a limited company to start working without the personal liability and to take advantage of all that a company gives you.

Atm, I am waiting to complete on a 50k 2 bed semi in chorley. Cash buying. The intention is to do it up and sell again as soon as pos.

3 questions
- Do mortgage lenders make it difficult for a prospective buyer if the property was already bought in the last 6 months?
- The property is a terraced house but the only alternative access to the back garden is through the neighbours garden? Therefore a prospective buyer will need to bring bins etc through his own house to get to the front OR through the neighbours back garden and down the alleyway. My solicitor has struggled to get an answer on the access? Any tips? Been waiting a month for this simple question.
 - I set up the limited company last month and so far I have only payed for a property survey report (£790) through the company account. If I don't complete before end of tax year, do I still need to pay for the company accounts to be done for this tax year or can I just claim the property survey report in next years accounts?

Any other tips or advice would be most welcome - the do's and don't's! 

Many thanks, Andy

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Hi Andy, I have a buy to let which had a similar problem regarding access. Basically there was a path for access from a neighbours property (let's call him the "neighbour from hell" or NFH for short) running across the back of mine so they could access their back garden/back door etc. This was marked on the deeds and declared to be for the use of motor vehicle access. Over the years a number of the properties have been extended backwards (including the NFH) which has resulted in a significant narrowing of the access to the point where it would be impossible to get a car through. My tenant asked for permission to erect a fence with gate across the path, to which I agreed. The NFH then instigated legal action to maintain his right of way for motor vehicle!


I immediately offered to ensure that the gate was at least as wide as his own access (limited by his own extension) so he suffered no detriment. He continued with legal action. The case was eventually settled with me losing and the court telling me that I needed to make the access at least as wide as the NFH access! Cost to me - £5k in legal fees.


My point: check the deeds for entitlements to access etc......they can be restrictive and costly. My own conveyancing solicitor had noted the restriction as "nothing unusual and shouldn't be a problem"........................!

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Hi Andrew


A lot of people are looking at limited companies. Like anything in life there are pro's and cons of using a limited co. One of these is restricted access to finance but hopefully that is changing. So far my investments have been outside ltd companies but I am looking seriously at using a ltd company. I'm just completing my 5th purchase but might use a ltd company for the next one. Most of my properties are in the Manchester area.



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