Rippedoff Investor

Registered with Property118.com
Sunday 12th April 2015


Latest Comments

Total Number of Property118 Comments: 3

Rippedoff Investor

10:08 AM, 11th October 2016
About 3 years ago

National Rent Rise Day 5 April 2017

I do not support this publicity stunt which would merely serve to prove what many people think about grasping landlords. Rent levels are about what the local market can support: unilateral rent increase if your tenant is in arrears leads you to a greater problem, if the tenant rent is up to date why punish them ? Mortgage rates have fallen dramatically and been held low for many years. Did you reduce your rents during this period ?

I struggle to see the point of increasing rents to bring in more income to pay more tax upon. I never increase rents whilst a tenant has their home in my property.I am happy that they pay and stay.

Incidentally, my approach is to consider sale when any of my property becomes vacant ( five sold in last 18 months) and to pay off, from the proceeds, mortgage debt on the remaining 10 properties. I will pay less tax this way rather than increase rents which leads to a greater tax take for HMRC.... Read More

Rippedoff Investor

11:19 AM, 29th July 2016
About 3 years ago

Building on land at the rear of my mortgaged property?

You should NOT fence off the land but rather get whoever purchases it ultimately to put up a fence to your satisfaction ( and be responsible for maintaining it). Crucially , if you fence it off physically now or before disposal, that counts as a reduction in your main residence and tax is payable of the sale ( of part garden) proceeds..... Read More

Rippedoff Investor

11:29 AM, 31st July 2012
About 7 years ago

When is family not family for BuyToLet mortgage purposes?

One thing to bear in mind is the tax side of Buy To let for relatives.If the rent is not the market rent you may only offfset expenses up to the level of income i.e. you cannot run the property at a loss and offset the loss against other properties in your portfolio. Bill Patey ... Read More