Adrian Bond

Registered with Property118.com
Tuesday 20th May 2014


Latest Comments

Total Number of Property118 Comments: 8

Adrian Bond

8:59 AM, 2nd April 2016
About 3 years ago

Implied restrictive covenant breach on Ex LA student let in Norwich

Hi op. I have also recently completed on a ex la house near the uea in Norwich and came across a similar covenant.

As I'm buying as a ltd company this concerned me a little so I asked my conveyances to clarify. Basically it says I shouldn't let the property as individual rooms just using a single ast (it will cover 5 people). The intention is single ast shared situation anyway.

How enforceable this would be I'm not sure as there are landlords operating in the area doing exactly that.

As mentioned earlier Dan Trivedi is our local expert so I have often asked him for advice.

Tbh I'm not concerned and will carry on as normal making sure I keep an eye on buisness and keeping away from beer hung a covenant set in the 70's!

Good luck... Read More

Adrian Bond

20:35 PM, 30th December 2015
About 4 years ago

Which Stamp Duty for new residential property?

okay i think im getting the horrible picture now.
I have more questions so please bear with me!

1. would this scenario affect a joint home purchase in the future? I own a property which was my previous home; it is currently on a LTB mortgage and has been for 18 months. can i get a residential property on my own after April 2016 without incurring the additional SDLT?

2. Me and the wife want to buy a residential home together in 2 years, and let her property out at the same time under a LTB mortgage.
Would therefore we be liable for the additional SDLT in 2 years on our residential home together (im guessing yes if we keep her home and let it)?

3. currently the best way i can see this going forward is to let my wife's home out now, and buy a joint purchased residential home for us to live in before April to avoid this situation. we want to avoid being forced into this position as it will be very expensive and we will have to pay upwards of £5000 early repayment charges to exit her existing residential mortgage (unless they allow us to port it to the new property and we re mortgage the LTB with another lender?)

i really would appreciate any advice as i am currently gearing up to buy a further BTL in a company but cant do it all! i would rather retard my BTL empire by 5 years and get a home than risk having to pay an additional £20000 in tax for a residential home due to legislation. we plan to be there for 40 years but don't want to break ourselves to pieces to pay a vote tax.

The gov are making it extremely difficult to get ahead and create a modicum of future proofing my finances for retirement. i just don't understand why they want to punish us!

thank you for your help. its really appreciated.... Read More

Adrian Bond

16:14 PM, 30th December 2015
About 4 years ago

Which Stamp Duty for new residential property?

so let me get this straight in my head (appologies).

If i previously had a property which was my home, then let it out under a LTB mortgage - would i then be subject to paying the additional SD on a subsequent residential purchase after april 1st?

If so how far back does this go as i currently have my previous home let under a LTB mortgage which is due for a re mortgage onto a new lenders BTL product (i moved out 18 months ago)?

in time i will want to buy a residential property with my then wife for us to live in for the next 40 years. I dont want to have to pay another 3% SDLT on this as it will be my only residential property (i am currently renting).

we also plan to let out my fiancées current home in order for us to both get a residential home together. will this then also incur the extra SDLT on the future residential purchase together?

Hopefully that makes sense!

can anyone please clarify? Thank you... Read More

Adrian Bond

13:34 PM, 30th December 2015
About 4 years ago

Which Stamp Duty for new residential property?

I would think as your existing home would be let out under a let to buy mortgage, strictly in your own name, then that would be applicable under the existing residential stamp duty (as you have already paid it). It will stay on this until you incorporate it into a company at which point the higher stamp duty and Capitol gains tax apply.

If you have already got your previous home on a LTB mortgage then you can legitimately buy another residential home for you to live in under the normal stamp duty thresholds which are unchanged.

I am interested in how LTB will be covered by the tax and stamp duty issues as it could alter my own strategy sonewhat. Does anyone have any news on the gov approach to this? E.g is stamp duty payable twice?

Future tax implications with income tax will also play a big part!

Cheers... Read More

Adrian Bond

17:18 PM, 13th October 2015
About 4 years ago

Debate with Landlady – Right to have a pet

Hi Everyone.

i have been reading this post with great interest. A tenant and her Boyfriend have recently moved into my property (they are now entering their second month of a 12 month agreement) and seem sound and friendly - fingers crossed.

However, they have just asked permission to have a rescue cat at the property. The property itself is furnished, a ground floor flat with enclosed courtyard access outside but no scope to add a cat-flap (the rear door is fully glazed and less than 2 years old).
i also own a portion of the freehold and know the other co owners wouldn't have an issue.

i am happy for them to have a cat, but as the tenancy has already started how do i propose a "animal" deposit for cleaning and damage should it occur? The current deposit is lodged with the TDS as normal and i don't think i can give this back and start a larger one until the 12 months is up / tenancy is completed. can i start a separate secondary deposit for the animal only?

any help / ideas would be appreciated.
cheers
Adrian... Read More