Neil Patterson

Registered with
Monday 7th February 2011

Member of The Landlords Union

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 2415
Should I buy a third buy to let?

That would kill off all the big corporates government are in bed with and trying to encourage.... Read More

Neil Patterson

2 days ago
HMRC and s24 advice - How lazy can you get?

In my experience a good accountant will always save you at least what they cost.

Dealing direct with HMRC can be very pot luck if you even get through.... Read More

Neil Patterson

4 days ago
Should I get a new 12 month tenancy agreement signed?

I would definitely try to get the tenancy locked down with a new signed contract as long as you are happy with the tenants.

Don't forget to check the deposit is correctly protected.... Read More

Neil Patterson

4 days ago
Main residence mortgage compliance on property now rented?

Hi Ian,

Usually when you get consent to let from a lender it is on a temporary basis and at some stage, if it is to be permanent, they will want to switch you to their own BTL product range or ask you to remortgage to another BTL lender.

It is rare for permission to be written into a residential mortgage contract allowing the property to be let.

Therefore you need to consider working with the new lender to obtain consent or see if you can remortgage to a BTL either with the same lender or move to another.... Read More

Neil Patterson

4 days ago
Should I buy a third buy to let?

Hi Peter,

It is always very difficult to answer a generalised question when all individual's circumstances are different and particular to them. There is never a one size fits all answer.

The rules on mortgage interest relief restrictions (Section 24) have and are changing along with SDLT and you don't mention the structure of ownership eg. sole or joint names, tenants in common or Ltd Co.

I would strongly advise you start researching this vital area and you can start here >>
along with case studies, related articles and downloads to assist. It is not possible to beat your own due diligence.... Read More