James Leavesden
James Leavesden
Registered with Property118.com
4th July 2013
Total Posts
0
Total Comments
27
Registered with Property118.com
4th July 2013
Total Posts
0
Total Comments
27
25th March 2018, 8 years ago
I wonder if anyone has enquired if Rosinca will be offering new product, term renewals etc, or will it be an extension of what MX was doing - collecting monies and encouraging transfer elsewhere and winding down the book?
Read More →18th December 2015, 10 years ago
May be you could pay one off, refinance that with another lender and have enough to pay off the remaining two.
Read More →13th November 2015, 10 years ago
I believe the rules apply to all letting agents. One of my agents informed me that have completed the declaration and I could have copy for what they sent for £40+vat to help me fill in my tax return. I...
Read More →1st November 2015, 10 years ago
Unless you are required by contract to provide them ASTs I would be inclined to ignore the request at this point if every thing is in order and you are up to date with your payments. They may never ask...
Read More →13th July 2015, 11 years ago
My understanding is your total income from all sources (employment, property profit, pension paypout etc ...) determines you tax banding. Finance cost are no longer an allowable 'Expense' in determining profit from property. So profit from property is Rent received...
Read More →Reply to comment left by Mark Alexander at 12/07/2015 - 22:13
Reply to the comment left by "Mark Alexander" at "12/07/2015 - 22:13": Yes, an interest rise will not change taxable profits (as finance costs are no longer used in determining 'taxable profits'). It will of course mean a little more...
Read More →Reply to comment left by Mark Alexander at 12/07/2015 - 21:47
Reply to the comment left by "Mark Alexander" at "12/07/2015 - 21:47": That is my understand Mark. Currently we effectively have 40% relief as higher rate taxpayers. This relief will reduce To 35%, 30%, 25% and finally 20% for 2020/21.
Read More →12th July 2015, 11 years ago
Ah ok I see what you mean. You are using 'rental profit' as it stands now ( rent received - mortgage interest) rather than how it is being proposed - rental profit is rent recived ( less non finance costs)....
Read More →12th July 2015, 11 years ago
I don't make it anything like that. In your example £36000 rental profit ( assume no emplyed income) Tax is 20% of £36000 ( you have not used a zero rate band so I have not either) = £7200. Now...
Read More →12th July 2015, 11 years ago
Here it is http://www.mortgagesforbusiness.co.uk/news-insight/2015/july/how-the-restriction-of-relief-on-btl-mortgage-interest-will-affect-landlords/
Read More →Reply to comment left by Gary Mason at 12/07/2015 - 00:36
Reply to the comment left by "Gary Mason" at "12/07/2015 - 00:36": Yes I provided a link from Mortgages for Bussiness a couple of pages back with worked examples for a number of circumstance. I can't seem to cut and...
Read More →Reply to comment left by Gary Mason at 12/07/2015 - 00:00
Reply to the comment left by "Gary Mason" at "12/07/2015 - 00:00": I think there must be some misunderstanding here. By adding rental income to mortgage interest you seem to be suggesting a landlord with a mortgage is going to...
Read More →11th July 2015, 11 years ago
The example worked through on this site is the clearest I have seen. I think even I understand it now! http://www.mortgagesforbusiness.co.uk/news-insight/2015/july/how-the-restriction-of-relief-on-btl-mortgage-interest-will-affect-landlords/
Read More →11th July 2015, 11 years ago
A simple way to visualise and understand how much extra tax you would have to pay as a 40% tax payer after 2021...... At the moment you get 40% relief on your morgage interest. In the future you will only...
Read More →30th June 2015, 11 years ago
Choices is great as it allows you to borrow back your overpayment. You are however limited to 1% of the outstanding balance every month at the time you set it up. If you wish to make capital repayment you can...
Read More →22nd June 2015, 11 years ago
Yes it is but I will be refinancing but did not want to risk consolidation.
Read More →21st June 2015, 11 years ago
Thanks, that's comforting to know. So far they are accepting my capital repayments just fine via online banking. The plan is to reduce the mortgage to a few hundred and let them deduct the usual monthly direct debit payment (which...
Read More →21st June 2015, 11 years ago
Hi Ed, if all goes to plan I wonder if you can reveal the LTV of your remaing properties? I have 6mx properties all with LTVs of 65% or lower and am planning on redeeming a couple buy paying down...
Read More →26th December 2014, 11 years ago
If you go down the statutory route, the only changes to the lease will be the extended term and zero ground rent. Any terms already there will stay.
Read More →25th December 2014, 11 years ago
If you go down the statutory route (LeaseholdHousing Reform Act) you compel the freeholder to provide you with a 90 year extension at Zero ground rent. As a bonus the freeholder can't add any new clauses to the lease other...
Read More →Showing 20 of 27 comments