Government forcing landlords to house non-paying tenants for lengthy periods11:18 AM, 15th September 2020
About 5 days ago 39
I’m a small landlord, 4 BTL properties acquired over the last 13 years. 3 are in a limited company (no mortgages), 1 is owned privately. The privately owned one was re-mortgaged to fund the last property purchased, which I managed to slide into the company just prior to all the changes.
My original intention was to move the privately owned one into the company once the rather excellent mortgage deal ended (June 2018). Unfortunately 2 things now work against me, first, the 3% stamp duty, second the somewhat rapid and unexpected rise in value giving a capital gain of some £100,000.
At 60, I’m retired on medical grounds and I don’t spend 20 hours a week on property management/maint.
I am considering living outside the UK permanently due to my partner being a Chinese national and HMG’s process and requirements for a permanent stay visa being an absurd, illicit revenue source.
My accountants are very good, but may not be as inventive as some other folks within 118.
There seems to be a number of beneficial options for the more invested 118 member, but try as I might I do not seem to be able to identify a smart, legal way forward.
Any ideas, guidance welcome.
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