Sunny K

Registered with Property118.com
Sunday 17th August 2014


Latest Comments

Total Number of Property118 Comments: 41

Sunny K

A month ago
Paragon HMO application?

Reply to the comment left by Yvonne Francis at 11/05/2018 - 14:55
Its not a additional licensing or article 4 zone. The property works as HMO or multi unit and has 4% return on single family let (which is not the worst in zone 4 west London), so plenty of options.... Read More

Sunny K

A month ago
Paragon HMO application?

Reply to the comment left by Simon Williams at 11/05/2018 - 11:24Thanks for many useful comments.
We can get the council to visit the property and get a compliance report. I am not sure how much the lender will take that into account and the work still need to be done post completion.
The property is set up perfectly for HMO or multiunit with minimal change in layout needed. The changes are mostly regulation compliance issues like fire alarm system, sound proofing (if multiunit) etc. I am confidence it will not devalue the property if I want to sell it as family home in future. The area is not much of HMO zone but has potential with a new large retail/leisure park opened short walk away and also 0.2 miles from tube station, overground and cross rail which connect to central london and Wembley station. I had done multi units before but not HMO so a bit new to HMO financing.... Read More

Sunny K

A month ago
Paragon HMO application?

Reply to the comment left by St. Jims at 11/05/2018 - 11:21
Sounds like an useful strategy and will definitely use as plan B.... Read More

Sunny K

A year ago
Permitted development subdividing 1 flat into 2?

Reply to the comment left by "Gunga Din" at "20/01/2017 - 12:21":

Great perspective for both scenarios. By basic maths, you are having 10% gross rental return on 30k spend vs 3.8% on the first 140k. In addition, the conversion might have some capital return by increased the market value. So it seems the conversion might be more value for money. Am I missing something?... Read More

Sunny K

2 years ago
Portfolio mortgages - To be or not to be?

Thanks Jon and Neil.

I am looking at ways of increasing LTV closer to 75% without compromising too much on rates.
I have spoken to Natwest, accord and TMW. They reckon only way of increasing borrowing is either 5 years fixed (lower rental stress calculation) or increasing rent (not likely). My broker can get best rate of 3.19% with accord on 5 years fixed (1% higher than 2 years fixed for 75% LTV). I can get up to 75% LTV on most of my properties with 5 years stress test but not 2 years one.
5 years fixed for some properties might be the way forward for me. The banks are clearly banking on rates not rising more than 1% in medium term.... Read More