Alistair Cooper

Registered with
Sunday 24th November 2013

Latest Comments

Total Number of Property118 Comments: 26

Alistair Cooper

11:36 AM, 18th April 2019
About 5 months ago

Applying for LTD Co Specialist BTL products directly?

If you find and establish a relationship with a good broker I cannot see the benefit of taking them out of the sandwich (there is some fine meat out there, why opt for just bread & butter!)
My broker, Chris Young of the Buy to Let Business, (and those that have helped in the past, including Mark Alexander’s former colleagues) have got me and my mother through hurdles that simply would have been unsurpassable had I of been dealing directly with the lender.
I too like to understand the criteria and fit myself into deals (no doubt much to the annoyance of Chris!)
In the increasingly risk adverse lending market that personal contact with the underwriter will win over any computer algorithm.
I tried going direct to the Mortgage Works some years ago and learnt my lesson the hard way after losing two good property purchase deals in a row as they were so slow to respond and awkward to deal with. I regret that experience every time I drive past those properties and see them developed out with someone else (who probably did use a broker) enjoying the profit!
Don’t feel the broker is in the way; just get to know a good one and you will reap the reward of the modest fee many times over.... Read More

Alistair Cooper

9:09 AM, 15th April 2019
About 5 months ago

Theresa May announces she will ban section 21

The real risk is how lenders will react. Does this potentially mean the end of Buy to Let lending? the very essence of which is based upon the Banks ability to regain possession of the property quickly in default by the provisions in the 1925 Kaw of Property Act and a relatively simple Sec 21 process. (Although we know the current system is anything but simple lenders still take comfort from it)
There is opportunity here to create a more streamlined Court system but I fear and doubt that it will be taken up. The County Courts are creaking with Case overload now, how will they cope with a 3x/4x increase in cases requiring a hearing ?... Read More

Alistair Cooper

11:02 AM, 31st December 2018
About 9 months ago

Statutory filing for BTL companies - £100 software required by HMRC?

I had the same experience Neil . Although I had the pleasure of a fine for late submission on top as there is no mention of this ‘extra 3rd party software’ requirement up until you are almost there with submitting. Companies House does not need any additional software and there is no clear reason why HMRC cannot cope with a property company using their standard platform for submission. I am currently appealing the fine on this basis........ Read More

Alistair Cooper

9:48 AM, 8th August 2018
About A year ago

Selective Licensing in Leeds at £825 per property!

Apologies if I am moving off the Leeds specific topic, but on the subject of fees (even for the new mandatory licensing) they are becoming ridiculous. St Albans have only just woken up to the 1st October deadline and released their bargain fees (which they claim only cover costs and are not a profit centre) at £153 per occupant! That equates to £1683 for a single property having seven bedrooms, 4 of which are over 10m2 so capable of accommodating a couple).
When I raised the question of how it costs treble to process a license for one property compared to another I of course got no response!
No accreditation scheme, no discounts whatsoever for 'good' landlords, and a vitriolic note that all fees must be received in clear funds by 30th September and no instalments whatsoever!
Clearly drafted by someone with a clear understanding of the cashflow problems of the average HMO landlord.... of course we all have a spare £17k in cash floating around doing nothing constructive
Also, in higher rent areas such as Hertfordshire dictating to grown adults that they cannot possibly reside in a room of 6.49m2 despite generous communal space will only have one consequence... the disappearance from the market of any accommodation option below £600pcm .... I'm sure that will help all my tenants only bringing home circa £1000 dramatically improve their living standards!... Read More

Alistair Cooper

12:04 PM, 25th July 2018
About A year ago

Kent Landlord - Hero or Villain

And of course who ends up paying the £41.6k plus costs ... the hard working council tax and business rate payers of Ashord.. not a penny will come from the pockets of those actually responsible... Read More