user_14547

Registered with Property118.com
Monday 24th July 2017


Latest Comments

Total Number of Property118 Comments: 237

silversurfer2017

20:51 PM, 30th November 2021, About 13 hours ago

Is it worth it after CGT?

It is very easy to construct an ISA portfolio and get a tax free yield of around 4%. There are lots of Individual shares like Aviva, Legal and General, Shell, National Grid. You can get even more diversity by incorporating a few investment trusts such as City of London., Claverhouse and Mercantile. Not only will this portfolio yield around 4% but the income (dividends) will generally increase by at least the rate of inflation.... Read More

silversurfer2017

16:42 PM, 25th September 2021, About 2 months ago

One year and £35k to evict a COVID rogue tenant

Reply to the comment left by don haley at 20/09/2021 - 11:06
I think there might be as many as 7 sentences in this comment. A few full stops and commas would enable us to understand what you are trying to say.... Read More

silversurfer2017

14:18 PM, 17th September 2021, About 2 months ago

Holiday Let Purchase - Best Through A Company Or Not?

Regarding taking out a loan on your own property to finance a new holiday let then all of the loan interest will be tax deductible provided that all of the loan will be used to fund a holiday let purchase providing that holiday let will be used as a business and it qualifies as such. For example must be available for at least 210 days in any tax year and be let for at least 105 days at market rates rental (not half price to all your friends and family)
Very similar situation I was in a few years ago - was buying a new 2 bedroom flat off plan and it was a bit tricky to get a BTL loan for a property with an uncertain completion date and and an uncertain rental return, although I was confident of at least a 5% gross return. The loan was tax deductible because all of the funds were going to be use to buy a new BTL.... Read More

silversurfer2017

10:30 AM, 17th September 2021, About 2 months ago

Holiday Let Purchase - Best Through A Company Or Not?

You mention being lucky that you were not in holiday lets when the Covid lockdown started but having a holiday cottage let out at least partially throughout the lockdown I am in a position to disagree with that comment. Ours is a 2 bedroom holiday cottage with its own separate front and back entrance and its own parking space. Because it was entirely self-contained with its own separate entrance (not shared entrance) we have been able to let it more or less through most of the lockdown period. Because we are registered for business rates (although we get 100% exemption as a small business) we were able to claim all the hospitality grants which amounted in total to around £28,000 in addition to the reduced income we received from our holiday let. So our holiday let income has been at least double what it would have been even if we had been fully let for the whole period with no voids.... Read More

silversurfer2017

9:41 AM, 16th September 2021, About 3 months ago

Freehold - what's it worth?

DYOR on government websites like lease-advice.org - you can phone them for advice.
You will find that the costs of buying freeholds is not much more that getting statutory 90 lease extension at peppercorn (zero ground rents). You say that 5 of the lease have already been extended - I am assuming that all these have 90 year extensions at zero ground rent. These will be very cheap to enfranchise (technical term for buying a freehold), apart from paying the legal and valuers fees and of course your own legal and valuers fees.
I would recommend engaging a specialist valuer because the second part of your query is far more complicated - the 7 flats with less than 60 years remaining on the lease. These could be quite expensive, depending on the property values because less than 80 years left on the lease attract 'marriage value'. In a nutshell this means that the freeholder is entitled to 50% of the increase in value of comparing a property with only 60 years left and a freehold property. This is tricky to negotiate - you obviously want to try and make this figure as low as possible whereas the freeholder may well try and inflate this figure. Sometimes tenants improvements to the property are taken out of the calculations. Contact an ALEP valuer unless you have a friend who has used one the can recommend. You don't just need any valuer - you need one that specialises in leases and enfranchisement.... Read More