Tony Southwold

Registered with Property118.com
Monday 9th June 2014


Latest Comments

Total Number of Property118 Comments: 6

Tony Southwold

14:59 PM, 10th February 2021
About 2 months ago

A CGT increase would freeze the PRS

Yep you are right I have received Entrepreneurs releif and very pleased to have it. I guess what I am saying is that I know what I Tax I have to pay (and planned for an increase) on my Propities when I sell and of course I will try to minimise all I can but when that time comes but I will step up to the mark and providing my planning was good to start with there will still be enough over for a good meal out. At the moment I am quite happy to sit with my 6% return far better than 0.1% from the Bank.... Read More

Tony Southwold

14:39 PM, 10th February 2021
About 2 months ago

A CGT increase would freeze the PRS

Christoper at larst somone to give some form of perspective.

Why dont we all get real and recognise where we all are it’s been a terrible year and we are all part of it, sometimes those of us in a more fortunate position have to step up to the mark and contribute for the greater good.
I often read in amazement remarks by so many and fear these people have been dazzled in the past by the get rich quick “Homes Under the Hammer” and programmes of such ilk.
To me a property Busines is just like is any other Business needing to be well planned for the future expecting the unexpected with reserves to cover for the ups and downs when they are sure to come.
Much of the problems many are suffering in this current market is in thinking they will continue to have a 10% capital growth year on year and an 8% plus return on rental. Fuelled in part by greedy lenders of the past years with an almost pyramid Lending policy based upon an ever-increasing unrealistic growth from those queuing up to borrow putting themselves on the line – “buyer beware”.
Any Property Business started 10 years ago should by now be sitting upon a nice Capital Growth and have enjoyed a good 6% Year on Year rental return, for me not a bad business model and a basis to expand providing gearing remains sensible. If when the time comes to sell why not pay tax on your return what makes this sector so special. I have many times-built Manufacturing businesses, sold them on and paid my Tax why should it be any different for the properties I own. No I do not want to pay Tax but when the time comes I will make my return and write the cheque, if I had made the wrong decisions earlier there is no Gain and no tax to pay.
We all had the chance to decide if we wanted to be part of the BTL market no one forced our hand, when the going gets tough we cannot go on winging all the time we need to get smarter, plan sensibly and find different solutions, now or the future the same issues will always present themselves so do not think everything will be exactly as the status quo – start planning now for the future its good Business sense.
I guess many of you will be thinking I am a signed-up member of Momentum but please believe me I am far from anything but. I have lived long enough to experience the ups and downs of life and tried hard learn from the experience.... Read More

Tony Southwold

11:42 AM, 23rd December 2020
About 4 months ago

Is Buy To Let Worth The Effort In 2021?

I watched your video and found it thought provoking and share from my perspective a cautious view that I hope others may find useful to think about.
I have been around the BTL sector for a number of years not large but enough to enjoy life in my twilight years. I agree the situation for small Landlords is less advantageous than when I started out and have now disposed of all my properties bar one, this I intend to sell in the new Tax year. Part of the money I have re-invested in a new quality Commercial factory occupied by a company I own meaning to some extent I can control the income generated where I want it to land.
Now for the rub and I offer the wisdom of my years. Back in the early eighties I invested £200,000 cash in a Commercial building (re-furbished Offices in outer London) costing 430,000 the balance being mortgaged with Allied Irish Banks. For the first three years everything went well good Tenants and a generous excess of income over expenditure. Then disaster Thatcher downturn, increased interest rates, loss of Tenants, Council still requiring rates and a need to cover service charge of empty offices. Add to this the Bank calling in their Loan as they had decided to get out of commercial property lending. This forced me into re-financing at 12% as opposed to the original 3.5%. The perfect storm when you add into the mix it was impossible to sell.
Eventually I managed to sell and came out with £30,000 feeling very lucky not to have gone bankrupt.
My message is we are currently enjoying low finance rates but if history repeats itself in a few years we could be back where I found myself. For BTL if you are cash rich in a few years there will be plenty of bargain repossessions to pick up. For a Commercial purchase yes at the moment and I see this as the road forward (despite once saying I would never do it again) but with the caveat make sure it washes its face with a good slug of spare cash and most important of all stand by the old adage “only buy quality”.... Read More

Tony Southwold

10:59 AM, 5th May 2020
About 11 months ago

New Industrial Property Purchase - Stamp Duty?

Yep your right for £1,800 its a no brainer. Thanks.... Read More

Tony Southwold

15:08 PM, 10th August 2017
About 4 years ago

Help. I am desperate and all of you can help me!

If crime and social behaviour became ast bad overnight as the Council are saying it is I thinkd I would be looking for a reduction in the Councils rates bill!!... Read More