nathan stark

Registered with
Wednesday 27th January 2016

Latest Comments

Total Number of Property118 Comments: 9

nathan stark

16:35 PM, 12th April 2016, About 6 years ago

BTL Ltd company Mortgage and source of Refurb properties

Thats a tough question with lots of info needed.I am not an accountant, so My advise would be to seek one out and ask these questions. But this is my opinion.

You could Start up a new Ltd co. with Memorandum of association specific to property, Purchase using the Ltd co. When you sell, you are only getting rid of a co. asset and will be charged corporation tax accordingly at 18%. Then you can either keep the monies made in the ltd co, for further projects, or take some out as dividends using both your allowances, however, if you made profit of say 100k, then 18% corporation tax is £18k, and then if you wanted to take dividend you would have further tax.

If you made 100k in joint names without the Ltd CGT would only be £15k ish, so much cheaper, speak to accountant to see what you need to entrepreneurs relief as that is what would save you the tax bill. Maybe LLP rather than Ltd.

As to your other questions, auctions and estate agents are the best people to give you details of probates and houses needing works. Or check out, E i Group, register free for 48 hours to see what they have, they covered pretty much every auction house.

good luck.... Read More

nathan stark

11:33 AM, 4th February 2016, About 6 years ago

MX Right to Consolidate

Thanks for your comments everyone.

Remortgaging is not an option, as many are at 80 to 85% LTV, I also am enjoying the low rates (for now), I know i am asking for the best of both worlds here but I am annoyed at this small print, that I and many others missed.

But, surely they cannot consolidate on the property that was taken out through Keystone. I could argue that I separated this one knowing it was going to be the best for increasing in value. Which it was.... Read More

nathan stark

21:34 PM, 3rd February 2016, About 6 years ago

Access Control Card Key Systems for HMO rooms - like hotel rooms?

Be careful of thermostats that fully lock. As its the tenants right to control the heating between certain temperatures.

As per Nigel above, a boost is sufficient to control, Heatmiser, nest and Hive are all contenders to look at.

If you have a system boiler, you may need separate cylinder tank thermostats (you would need it with Hive not sure on Heatmiser)

But, Nest is good, they can turn heating on without interfering with the program. If you want to spend a bit extra. The smoke and carbon monoxide alarm is a good thing. Unlikely that there would ever be a leak from a modern boiler. But if it did happen, the alarm talks to the thermostat and shuts boiler down.

if putting the Master Key system in an HMO, put additional clause on your contracts stating that letting people in when locking keys in their room will be charged at £? as its a pain and better to make it clear.... Read More

nathan stark

13:14 PM, 2nd February 2016, About 6 years ago

Council tax liability if one bedroom is locked?

You would have to talk to Council, as what Ray Davison is saying is right, based on an HMO, your landlord would be responsible.

But, its not in multiple occupation, and you only restricted access to one room. So I would leave it to council to decide.... Read More

nathan stark

13:09 PM, 2nd February 2016, About 6 years ago

Access Control Card Key Systems for HMO rooms - like hotel rooms?

I have considered it in my HMO's but I had some concerns.

How many times has your key card failed in a hotel, mine has a number of times and they have to re code it. I don't want multiple calls out per day for re coding.

Someone could walk out of the room with key card in electricity slot, then he's locked out (another call out)

Fire regs may not like all doors locked as fire hazard for means of escape.(depending on layout of house)

Tv licence and council tax could view them as self contained bedsits, then request you pay separate room rates.

Expensive system to put in, you would have to wire each room up, this with cost of system would make it too expensive.

Instead, there are other options that i use.

Master Key system, good lock smith can set this up. Tenants one key would open front door and their room, but no one else room.

Energy Eff. bulbs

Nest thermostat, you can then check regularly that programs not being tampered with from wherever you are.

Good luck... Read More