Christopher Farrell

Registered with
Thursday 4th July 2013

Latest Comments

Total Number of Property118 Comments: 9

Christopher Farrell

12:29 PM, 19th July 2015
About 5 years ago

Summer Budget 2015 - Landlords Reactions

Hi all,

As I am just now still starting my property investments (I have just one studio flat owned outright) and am about to buy another property now (house two bedrooms midlands, at 70K with a 30% deposit)..

...basically I need to keep my earnings (including wages from work) below 43K per year...

would it be better to invest in lower priced properties (in the North??) around 50K or below, good deposit, low mortgage, higher rental yields, or...

120K (for example) property 25% deposit, 5-6% yields and see if the whole budget fiasco for BTL is revised or sorted??

I really do not know the correct course now.

Form a company now or reduce my earnings (my wage already eats up a large part of the 43K) and keep my investments in property to the required minimum.

Not sure, any comments would be appreciated thanks.... Read More

Christopher Farrell

0:03 AM, 8th December 2014
About 6 years ago

Do banks require sublet AST for loans?

Hi Mark,

Thanks for explaining the risks to mortgage lenders, hence their decision taken. With hindsight it seems logical.

I will phone Genesis tomorrow and see what I can do, if anything, to sort this out, or see what sale options are for the property and start again. Not being able to refinance and gear funds does take the shine off property investment, to a degree.

As always, I do appreciate your help and any comments from others who may have experiences (and resolved??) similar issues would be appreciated.... Read More

Christopher Farrell

23:24 PM, 7th December 2014
About 6 years ago

Do banks require sublet AST for loans?

Hi Mark,

Thank you for your answer.

I find it most frustrating. I returned to U.K. from Spain, I bought outright a flat for GBP47500 as I could not get a mortgage to buy a higher value property using the above cash as a deposit, expecting to refinance now (18 months later).

Having had from the start a problem tenant, I thought a guaranteed rent for three years from Genesis would be better, not knowing of course that this may well cause me problems to refinance.

Surely I am not the only one with a guaranteed rent who has had the same problem.

I would assume from the bank's point of view, a guaranteed rent would be better for them.

I am frustrated because having only recently started on my property journey, it now appears that I may have to wait almost 3 years to re finance, when the rental agreement with Genesis ends, or just sell and be done with it and rebuy using the funds as a depost....

....if I can get a mortgage, and then never be able to take a guaranteed rental for peace of mind, for fear of running foul of the Bank. A rather strange situation to me.

I have seen a number of Letting agents offer guaranteed rent. Does everyone have this problem then or is it just housing associations similar to Genesis.

I really do wish this had been discussed with me by the letting agents before I signed. They should have known.

My property adventure has basically now been put on hold for three years (unless I just sell as stated). There just seems to be so many unforseen barriers to this, I just wonder how anyone gets started. This has been going on for many months with Lloyds, now just to be nipped in the bud in the final stages...... Read More

Christopher Farrell

18:21 PM, 10th June 2014
About 6 years ago

My Landlord Tax Strategy

All my U.K. Tax affairs and business interests are now handled by Pacific Group in Norwich.

I was initially referred by Mark and Property 118 and after an initial visit, explaining to them my investments and and future goals, I decided to use them for all my property portfolio and business interests in the U.K.

I am very impressed by the level of personalised service and I would highly recommend them.

The level of service is far better than expected and I would advise anyone to pay them a visit and explore how they can help you to organise your tax affairs correctly and plan for the future in the most tax efficient manner.... Read More

Christopher Farrell

17:04 PM, 7th August 2013
About 7 years ago

Are freehold ground rents a good investment?

Hi all,

Thank you for all your comments. It seems that ground rent investing is a lot more involved than I originally thought.

It is another very interesting facet of property investing which, although may not be of interest to everyone, here in this thread, many have had the opportunity to obtain good general knowledge of this type of property investment. Thank you all.

Many threads I read tend to almost take on a life of their own, as the input from everyone creates new sets of questions and answers and this generally creates a well rounded opinion which helps everyone.

Another type of property investment I have also been looking at recently is providing short term bridging loans, (not Joint Ventures) with full due diligence via Solicitors). Yields can be as high as or higher than property investing. Perhaps a new thread is needed?

Living in Spain, it’s hard to get to networking events or similar or having friends with similar interests. This website and the information I obtain from reading threads is very helpful.

Thanks again everyone.... Read More