Penny DJ

Registered with Property118.com
Sunday 23rd February 2020


Latest Comments

Total Number of Property118 Comments: 16

Penny DJ

12:13 PM, 3rd July 2020
About 18 hours ago

2nd BTL 2 bed Vs 3 bed?

The service charge for the 2 bed will include a fee for the lift maintenance, which can considerably increase the cost going on.... Read More

Penny DJ

18:08 PM, 19th June 2020
About 2 weeks ago

Increase rent - Increase Bond?

My last tenant had a 12 month bond (supposed to save to replace it in 12 months). She left at 11 months with lots of damage and I called the bond in.
I would be tempted to leave the arrangement as is currently, but start your tenant thinking about adding a rent top up to exchange bond for deposit ready for when the bond runs out.... Read More

Penny DJ

12:04 PM, 16th June 2020
About 3 weeks ago

How should I separate 2 HMOs into individual names?

Do the properties not have any equity- have they gone down in value since you took out the mortgages? In the normal course of events you would have had to remortgage both again this year With probably 75% LTV. If you could have remortgaged two, why can’t you arrange a mortgage on one?
If the co-owner pays back a 75% mortgage, and the property goes into your name with 25% equity, then surely you can raise a 75% mortgage as you hold equity.... Read More

Penny DJ

14:16 PM, 4th June 2020
About 4 weeks ago

Penalised over CGT due to Government emergency rules?

My understanding of the legislation was that those who had already exchanged could complete, but those yet to exchange were requested to delay. I bought a flat with completion on 1st April (it was delayed a day or so as the company releasing funds was doing everything from home by email).
Worth asking HMRC to accept exchange date (not completion date) as the correct date of the sale and that would put you straight. Otherwise you have lost a year's worth of CGT allowances even though in reality you can sell on 6th April, not 3rd.... Read More

Penny DJ

14:13 PM, 4th June 2020
About 4 weeks ago

Penalised over CGT due to Government emergency rules?

My understanding of the legislation was that those who had already exchanged could complete, but those yet to exchange were requested to delay. I bought a flat with completion on 1st April (it was delayed a day or so as the company releasing funds was doing everything from home by email).... Read More