Mervin SX

Registered with
Thursday 10th October 2013

Latest Comments

Total Number of Property118 Comments: 57

Mervin SX

12:15 PM, 18th July 2021, About 2 weeks ago

Is the lack of building security doors an issue?

Reply to the comment left by Mike in Worthing at 12/07/2021 - 15:08
Hi Mike,

Why is this considered as a category 1 hazard? I am not challenging what you said - just trying to understand the basis for this and your source of this information.

Mervin... Read More

Mervin SX

20:15 PM, 1st February 2021, About 6 months ago

Residential to Ltd co for capital raising?


If you speak to a good mortgage advisor, they will be able to find you a lender who can do what you want to do - i.e. sell your sole named properties into a limited company and release equity (without having a main employment income).

I have done a few transactions in this manner using lenders such as Precise Mortgages & LendInvest.

Of course, the purchase within a limited company will trigger stamp duty charges, etc.... Read More

Mervin SX

13:36 PM, 3rd January 2021, About 7 months ago

Buying a new and selling existing main residence to ltd company?

Hi Ricki,

Just elaborating on what Neil has said above:

1 - You pay stamp duty on all purchases above £125K. There are exemptions for first time buyers and for sales completed before 31st March 2021.

2 - You also pay 'additional' stamp duty on all second home purchases. All LTD company purchases attract the 'additional' stamp duty. This is 3% over the current relevant rates.

So, taking the above two points into consideration:

IF you simultaneously sell your current residence to a LTD company and buy a new replacement main residence - you will pay the 'additional' rate stamp duty for the LTD company transaction and you will pay normal rate stamp duty for your new replacement main residence.

IF the two transactions are not simultaneous, then you will pay 'additional' rate stamp duty for your replacement main residence as well as for the LTD company transaction. But when you complete your LTD company transaction and if this is within 3 years of the replacement main residence purchase, then you can claim back a refund of the 'additional' rate you paid for the replacement main residence.

Hope this helps?... Read More

Mervin SX

11:22 AM, 23rd December 2020, About 7 months ago

Is Buy To Let Worth The Effort In 2021?

Reply to the comment left by Colin Dartnell at 23/12/2020 - 10:16
I would say the same thing, as Colin.

I never find the time and patience to watch any videos on Property118. A well written article is much better and it can be processed at our individual pace!... Read More