John Constant

Registered with Property118.com
Sunday 1st September 2013


Latest Comments

Total Number of Property118 Comments: 104

John Constant

8:39 AM, 2nd February 2021
About a month ago

Residential to Ltd co for capital raising?

Richard,
not all lenders have this policy where they don't accept income from a BTL portfolio towards a residential remortgage. Some are more enlightened than others.
Of course, this is all subject to other personal factors too. A good specialist BTL broker will know who to approach to enable you to release equity from your current residential property, where it can be used to fund a business, using your BTL income.
It is the kind of enquiry we at HD Consultants have successfully completed on many occasions. Feel free to contact me for a chat on 07751 042485.... Read More

John Constant

10:15 AM, 23rd September 2019
About A year ago

Starting from scratch - HMO?

Reply to the comment left by Neil Patterson at 23/09/2019 - 09:19
Prath,
you should understand also that it is not so straight-forward for a First Time landlord to obtain a HMO mortgage - many lenders require you to have some experience with a "vanilla" BTL before tackling a HMO. This can be as little as 6 months or as long as 2 years with some lenders.

An experienced broker will be able to assist with your queries, whether it be for a standard BTL property or HMO. We would be delighted to help if you need it. Neil has our contact details.... Read More

John Constant

14:23 PM, 10th December 2018
About 2 years ago

Help with passing property rental to my wife for tax purposes

In my client's situation, it would've raised a whole load of other problems regarding taxation costs etc. It would have been throwing the baby out with the bath water. As I said in my original post, I found a lender who accepted the AST value, rather than what the client actually received in his bank account.... Read More

John Constant

13:08 PM, 10th December 2018
About 2 years ago

Help with passing property rental to my wife for tax purposes

Reply to the comment left by Mark Alexander at 10/12/2018 - 12:11
You are quite right for this particular case Mark, but I wanted to draw your readers attention to the situation where a sole owner passed beneficial rental income to a spouse.
My client did this without fully considering the implications for the portfolio, and left himself pretty much high and dry.... Read More

John Constant

11:12 AM, 10th December 2018
About 2 years ago

Help with passing property rental to my wife for tax purposes

Just a quick note regarding mortgages in this situation. It will not apply to you as such, but similar situations where there are more than 3 properties in the portfolio could leave yourself open to falling foul of the new portfolio income assessment calculations. I recently had a situation where a sole owner had given his wife beneficial ownership of 40% of the rental income. He asked us to remortgage a couple of the properties, but because he wasn't (personally) in receipt of the income, lenders were being ruled out because he didn't meet their portfolio income requirements. Fortunately, I did find one particular lender who accepted the AST value, rather than the received rental value and the day was saved. However, the rate was inferior to that he coud have expected to receive had he kept the full rental to himself.... Read More