LandlordZONE

23

Apr, 2014

Wednesday

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    You really need to visit the neighbourhood and...

    You really need to visit the neighbourhood and ask the local letting agents whether demand is for studios, 1 beds or 2 beds or larger units ? and what is the waiting time for a tenant ? No use...
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    There is a free guide to RFR which can be...

    There is a free guide to RFR which can be downloaded from www.lease-advice.org
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    Such Transfer can be registered as "Tenants in...

    Such Transfer can be registered as "Tenants in Common" or "Joint Tenants" ( which means survivor gets the lot ). CGT only matters when the property is sold to third party .
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    You can claim interest costs as an expense ...

    You can claim interest costs as an expense for any loan up to market value of the property at commencement of first letting. You can get confirmation from your local tax office or from...
  5. If the Council Tax bill is in the name of person...

    If the Council Tax bill is in the name of person living at flat , then that person could ask for 25% reduction for sole occupier. But if the Council Tax bill is addressed in your own name orin ...
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    Under UK tax rules, non-residents are liable for...

    Under UK tax rules, non-residents are liable for income tax on UK rental income and are required to submit a tax return ( Form SA105) to the Tax Office . Personal allowance is allowed against...
  7. Under most leases, the lessor ( or current...

    Under most leases, the lessor ( or current freeholder) is responsible for insuring the whole building and recovers the cost which is shared by the leaseholders. So normally the freeholder will take...
  8. If you assume you are not entitle to PPR relief ...

    If you assume you are not entitle to PPR relief due to payng Council tax for one month, your capital gain will be 280K-210K - 7K refurbing = 63K . You can claim 11K cgt personal allowance , so...
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    Under the leasehold system, the lessor /current...

    Under the leasehold system, the lessor /current freeholder owns the building and the leaseholder ( you) owns a long term rental agreement. The Lessor or Freeholder can do what they want since...
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    The target neighbourhoods are all in Zone 1 of...

    The target neighbourhoods are all in Zone 1 of the London Underground system and you can expect prospective tenants are mostly affluent foreigners and some retired persons from other parts of UK ...
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    You should submit a Tax Return if the rental...

    You should submit a Tax Return if the rental income exceeds 2500 pounds. https://www.gov.uk/renting-out-a-property/paying-tax
  12. Make an application to FTT for removal of clause...

    Make an application to FTT for removal of clause . Also apply to the OFT to declare it an unfair contract term.
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    Here is a list of 10 banks offering commercial...

    Here is a list of 10 banks offering commercial mortgages but only Nat-West offers loans for residential property :

    http://moneyfacts.co.uk/mortgages/commercial-mortgages/
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    If you want to replace your existing 300K...

    If you want to replace your existing 300K residence by a 400K residence, you need to check where you max mortgage borrowing limit is and if you can afford to service the monthly repayments.
  15. Stealthy, I think if you have to borrow the "...

    Stealthy,

    I think if you have to borrow the " 30% deposit " from a bank and borrow the 70% BTL mortgage from a mortgage lender , its just not do able . Its a crazy idea.
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    Q1. Must be answered by Mortgage Company. ...

    Q1. Must be answered by Mortgage Company.

    Q2. The lease may not allow for subletting. You need to have some written agreement with your daughter on sharing of rental income.

    Q3. See ...
  17. I was wondering how a half share of rental income...

    I was wondering how a half share of rental income from 15 rental properties could be less than the annual personal allowance ?
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    It could be within 28 days but you should enquire...

    It could be within 28 days but you should enquire :

    http://www.justice.gov.uk/tribunals/aa/appeals
  19. Perhaps you should set up RTM for your block of 4...

    Perhaps you should set up RTM for your block of 4 flats as first step to separate the service charge account :

    http://www.lease-advice.org/publications/documents/document.asp?item=11
    ...
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    You can claim primary residence for the period...

    You can claim primary residence for the period when you lived there ( 1 year) plus 18 months from date after moving away from property so that you can claim approx 2.5 years out of 9 years ( 2014...
  21. Your legal right to 90 years statutory lease...

    Your legal right to 90 years statutory lease extension is given in a couple of free guide swhich can be downloaded from www.lease-advice.org. One of the free guides give the method of calculation the...
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    You can write to W******* and ask for...

    You can write to W******* and ask for clarification of its interest in C****** and ask for a copy of the appointment letter of managing agent to collect ground rent and charge subletting fees and...
  23. What is the unexpired years remaining on the...

    What is the unexpired years remaining on the concurrent lease ? Do you mean the freeholder and headlessee are the same company ?

    What is the unexpired years left on your own lease and on lease...
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    The wording in most leases usually give the...

    The wording in most leases usually give the Lessor the right to decide what insured cover is included in the buildings insurance policy and where to purchase the insurance policy.
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    You should try to gather all the information on...

    You should try to gather all the information on annual rental oncome and expenses for each year during past 3 years for the property which has been let out . Expenses can include mortgage interest,...
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