The Secret Landlord

Registered with
Tuesday 31st March 2020

Latest Comments

Total Number of Property118 Comments: 21

The Secret Landlord

7:36 AM, 23rd January 2021, About A year ago

Deciding the way forward for my exit?


It's difficult with a relatively short time frame of your mortgage expiry and being with a lender who is not a lender plus the short leases. I can understand your anxiety and fear of waiting.

The leaseholder reforms, I fear, may not be as great as what people have claimed. I believe there will still be a way for Freeholders to claim their cash (i.e. marriage value etc), but I think it may be worded differently. Perhaps I'm overly cynical, but having dealt with a few Freeholders over the years, I do not expect any of them to sit back and not challenge this.

Hence, these reforms could be years away and watered down.

But this is my view.

I really feel you should speak with your accountant about how to structure the business (having a separate co for lettings etc), because there are costs involved in this and you should be sure the set up and running costs of this will make sense for the tax savings.

Your accountant should also assist with regards timing any disposals.

It's good you have started to think now about this issue, because you are right, it is an issue and it is best to forward plan.

I don't know if you've had the flats valued recently or looked into the saleability of them with their short leases. They will likely be very attractive to cash buyers who are chasing yields - this is not something to be overlooked in the current environment, and thus, I'd find out more as today's market of low bank interest etc, may mean your flats are of more interest in today's market.... Read More

The Secret Landlord

8:18 AM, 16th November 2020, About 2 years ago

Landlord case study required for The Telegraph

Reply to the comment left by Dancinglandlord at 11/11/2020 - 10:52
Lol you became that the day you became a landlord :)... Read More

The Secret Landlord

8:16 AM, 16th November 2020, About 2 years ago

Do I borrow and renew lease now?

I am unclear from your post if you intend keeping this flat?

The issue is: there is never a good time to find a stack of money to renew a lease. But the issue you have is that the cost for the renewal will increase every single year. I bit the bullet a couple of years back and renewed a lease - my heart stopped when i saw the amount. Only a couple of years had passed since I had last asked (I was down at 67 years) and the increase was crazy.

Unless you have a naive Freeholder they are the most astute people in the property game. Mine played every trick in the book with us and we almost ended up at Tribunal.

If you've had an offer and a local lease expert surveyor agrees it's a fair price then I'd just go with it. The price for these things only goes up...... Read More

The Secret Landlord

7:49 AM, 7th November 2020, About 2 years ago

Building Regs Certificate of Compliance or EICR on new property?

I had a building regs cert for a full new rewire on a property done 3 years ago. Agent would not take this and given I was due to lose a tenant over it (they had someone ready to move in but would not allow it without getting a new EICR) I then just got a new report. I was frustrated, but took the view it wasn't worth the argument and lost rent over.... Read More

The Secret Landlord

15:42 PM, 23rd October 2020, About 2 years ago

EPCs - New ones issued via email link only?

If you try this link you should be able to download after inputting address. I include EPC as part of my AST so understand you. Read More