Mervin SX

Registered with Property118.com
Thursday 10th October 2013

Location
Norwich

Trading Status
Sole Owner

Providing essential rental accommodation since
2005

Number of rental properties owned
11 – 20

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 40

Mervin SX

9:42 AM, 25th March 2020
About 5 days ago

Empty Property, empty rental income and still face costs?

Reply to the comment left by Monty Bodkin at 24/03/2020 - 20:57
I suppose it is my chance to get to know the tenant before I sign them up virtually.

I manage all my properties myself and half my portfolio which I can access nearby, are marketed via OpenRent.... Read More

Mervin SX

20:29 PM, 24th March 2020
About 5 days ago

Empty Property, empty rental income and still face costs?

Ray, I hear you. I currently have 2 empty properties vacant (since beginning of March) for which one of the agreed tenants has to pull out.
Another one will be empty next week and another on notice to go empty by mid-April. With the ongoing lockdown, it's not going to be possible to show prospective tenants around, which will certainly hit the vacancy rates. I am fully supportive of the lockdown measures but aspects such as council tax, utility standing charges, gas safety check expiry, etc. will require some clarity from the government! 🥺... Read More

Mervin SX

14:39 PM, 8th February 2020
About 2 months ago

CGT on selling a Buy to Let property after divorce

Rachel,
When the divorce settlement was calculated, the equity in your first BTL property would have been calculated using the value at that time, minue mortgage outstanding, minus costs you would have incurred if you sold at that time, minus CGT you would have incurred if you sold at that time. In other words, by paying your ex-husband, you have not given half of your equity. You have given half of what would have been left off your equity. If this has not happened in your case, then your legal team has not represented you well and it will be unlikely to go back and make a claim.
So, to answer your question - if you sell this property now, you will pay CGT on any gains made, based on sale price today and the purchase price in 1998.... Read More

Mervin SX

19:41 PM, 12th January 2020
About 3 months ago

REMINDER - CGT rules are changing in April 2020

Richard, You ask a very interesting question!

But I would imagine, the April 2020 CGT rule will be applied separately to properties and other assets, which will be a bit odd, but or else, capital losses of other assets (e.g. shares) within the same tax year, could be easily used as a loophole to avoid CGT liability on properties.

Any thoughts of comments from anyone more informed on this subject matter?... Read More

Mervin SX

18:18 PM, 12th January 2020
About 3 months ago

Only idiots have jobs!

It looks as thought the email is gone to the mortgage company from your mortgage advisor (intermediary). Are you able to or are you allowed to mention from/who - as a matter of principle, I only deal with companies that genuinely appreciate and respect what I do in the BTL sector!... Read More