LandlordZONE

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Nov, 2014

Sunday

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  1. Replies
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    When people say things such as "I'm getting 8%...

    When people say things such as "I'm getting 8% yield on my new BTL flat", they generally mean the simple gross yield i.e. the annual rent expressed as a percentage of the property's capital value....
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    I would repeat the response I gave on the thread...

    I would repeat the response I gave on the thread to which you've linked, i.e. to summarise it's really a question of how leveraged you want to be.
  3. Stock81, You cannot deduct the initial...

    Stock81,

    You cannot deduct the initial purchase cost against tax if you are also proposing to use the 10% wear and tear allowance I'm afraid -- HMRC aren't that generous!
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    516

    Given how much extra money London letting agents...

    Given how much extra money London letting agents are making due to the fact that London rents are higher, it does seem greedy of them to charge a higher % in addition to that.
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    293

    I'd agree that interest-only is close to being a...

    I'd agree that interest-only is close to being a no-brainerfor the flexibility reasons given by the posters above -- you can still pay off capital if you want to.

    The more interesting question...
  6. Gordon999, Although the OP doesn't say, I...

    Gordon999,

    Although the OP doesn't say, I would suspect that he does have mortgages on his property, which would most likely wipe out most of the rental yield.
  7. I must say that I am not in any way qualified to...

    I must say that I am not in any way qualified to give legal advice on this subject, and also I would've thought that anyone who was qualified to give legal advice on this would need more information...
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    731

    Far from overpaying, just under £200k actually...

    Far from overpaying, just under £200k actually sounds very reasonable for a 2-bed flat in the London Borough of Lambeth -- I take it that it is it in a big ex-council block or something?
  9. Does the house have a history of being let as an...

    Does the house have a history of being let as an HMO before, on and since the date on which the Article 4 direction came into force? If the answer's yes, then you're probable fine to continue letting...
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    For a house of that quality, I'd agree with the...

    For a house of that quality, I'd agree with the others -- you'd be better off either selling it or sympathetically converting it into two or three high-end flats. I simply don't believe you when you...
  11. Capital growth in residential property has been...

    Capital growth in residential property has been phenomenonal over the past 40 years but as it always says at the bottom of investment advertisements, past performance is not necessarily indicative of...
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    By deducting it when you submit your Self...

    By deducting it when you submit your Self Assessment form to HMRC in exactly the same way that you'd deduct BTL mortgage interest. Obviously it'd be a good idea to keep records of the transfers which...
  13. Is there any particular reason why you need...

    Is there any particular reason why you need someone local? A lot of people never meet their brokers face to face -- it's perfectly possible to do it all by phone and email.
  14. Has anywhere ever removed an Article 4 direction on HMOs? Effect on house prices?

    Hello all

    I am thinking of buying another student house in an area subject to to an Article 4 direction on HMOs. The area is a real student ghetto (around 80%-90% student houses in some of the...
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    From your description it sounds like this minimal...

    From your description it sounds like this minimal damage to a worktop could potentially come under the heading fair wear and tear and would thus normally not be chargeable from your deposit. What...
  16. In that case, is it being advertised properly?...

    In that case, is it being advertised properly? And how is the market in your area at the moment? It may be that there's nothing wrong with your house, but the market is just slow at the moment where...
  17. Aside from a few bits and pieces around fire...

    Aside from a few bits and pieces around fire safety etc. and locks on the bedroom doors, how does your house actually differ from any other four-bedroom house on the local market which may previously...
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    This is a tricky issue which I have come across...

    This is a tricky issue which I have come across myself (I let out two leasehold flats) and I have yet to see a comprehensive answer.

    Initially, I insured myself just for landlord's contents -- not...
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    I don't think that's fair. In addition to the...

    I don't think that's fair. In addition to the programme which theartfullodger linked to, I can think of another programme in the past year (can't remember the name, but it was on BBC) which showed...
  20. Bear in mind that the reason why a lot of...

    Bear in mind that the reason why a lot of investors like to put their money into property as opposed to other investments is because it is very easy to leverage property. If you buy outright, you...
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    I know I said I wouldn't keep posting but I had...

    I know I said I wouldn't keep posting but I had to respond to this paragraph so I'll keep it (relatively) short: the answer is that it depends on which way it gets rigged. For example, banks rigging...
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    No need to justify my equity investments to...

    No need to justify my equity investments to myself as I am in no way tied in -- I could sell them all (at a profit) first thing tomorrow morning and re-invest the proceeds in property forthwith if I...
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    jpkeates, hech123 -- I'm not going to reply...

    jpkeates, hech123 --

    I'm not going to reply to your points individually, in part because I think we'd just be going round in circles as I've already broadly covered the contrary view in my posts...
  24. loanarranger, thank you. In answer to your...

    loanarranger, thank you. In answer to your questions it's yes (just) and yes. I've PM'd you in case you can put me in touch with someone who can help.

    In case loanarranger can't help, I'd be very...
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    jpkeates, hech123 -- I entirely agree with you...

    jpkeates, hech123 --

    I entirely agree with you both that high fund manager fees are the scourge of equity investing. That's why I would never recommend using a financial adviser, or investing in...
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