Alan Capper

Registered with Property118.com
Tuesday 8th April 2014


Latest Comments

Total Number of Property118 Comments: 4

Alan Capper

22:22 PM, 13th October 2014
About 6 years ago

Property Investment Strategy and Advice Required

Reply to the comment left by "Kieron Brophy" at "13/10/2014 - 18:51":

Hi Kieron,

Unless the law (rules) have changed, a BTL mortgage (remortgage) is based on the property NOT the owner - who still has to prove that they can repay the mortgage. This, of course, you can do through the rent which you have previously stated.

As far as the current outstanding BTL mortgage is concerned, I presume that is £90K due by 2025? If so, then only buy two other properties instead of three. Sorry, I left that out of the calculations - missed the fact that £90K owed on your BTL and PPR as well.

Still, you get to receive £35K pa in Rent with about £90K in cash and no CGT. Not a bad retirement plan

Alan... Read More

Alan Capper

18:28 PM, 13th October 2014
About 6 years ago

Property Investment Strategy and Advice Required

Reply to the comment left by "Kieron Brophy" at "13/10/2014 - 17:02":

Hi Kieron,

Why not remortgage the BTL on a 75% mortgage for 25 years, releasing £337,500?

You are currently getting £1350 pm and the BTL mortgage would be about £1K pm. Then you could buy 3 props at £80K each producing £45K pa with just under £100K as back up.

£350 pm (left over from original BTL remortgaged) = £5K (almost) pa + £45K pa comes to a nice £50K pa cash flow + 5 properties you own (including PPR)

Why would you want to sell the GOOSE that keeps laying the Golden Eggs?

Just a thought,
Alan... Read More

Alan Capper

8:58 AM, 29th January 2013
About 8 years ago

Can landlords spread rental profits between spouses and minimise tax?

Sometimes stating the obvious seems foolish - but then the ONLY truly foolish statement is the one you DON'T make. So I presume, for Tax purposes, that you have a Trading Name and are not simply operating on your own. My understanding, from my Accountant (PLEASE seek advise into this yourself) is that as my wife and I trade/deal with property (on a Self-Employed basis) under a Trading Name, we can move rental profits/expenses between ourselves. The Trading Name is with respect to a Sole Trader or Partnership which incurs NO cost but affords us the Tax benefits associated with alternative streams of income.

In many ways my wife is like a "silent partner" as regards our property portfolio, so I deal with everything but rely on my Accountant for the Tax details. I find there is no need to "get round things" as there is sufficient help already in place.... Read More

Alan Capper

1:23 AM, 29th January 2013
About 8 years ago

No inventory .......... oh Dear!!

It is good that your tenants have been there since the property was purchased. They may well be as concerned as you are, with reservations as to how the New Landlord (YOU) may treat them. This, I feel, works to your advantage in that it affords you the opportunity to establish a rapport with them in reassuring them (presumably) that you have no intention of having them move on, nor that you have any intention to sell the property from under them. Agree to meet with them to view the state of the property (and record/take inventory with camera), to see what if anything needs to be done - some of which they may want to do (as it IS their home).

Talk about the possibility of a Rent Review and establish a Time Frame when you would like to revisit the property - possibly on a three monthly or six monthly basis. You could include a regular Rent Review with your visit.

I think it best to assume that they are NOT looking to move on. Hopefully after viewing the property you will not want them to move on either and having made the contact and established the above you will be better placed in dealing with this property and its tenants.... Read More