Registered with Property118.comTuesday 9th July 2013
Why not advertise it before you start work and then ask prospective tenants what they would like. I have done that a couple of times, as tenants usually have to give a months notice and love it if they can have a say on decor etc. Doesn't cost anything to advertise early but could save a fortune
I remember a while back somebody saying that you van now get equity release on btl properties. Is that product still about if so could it ne used to pay off the mortgage.
Thank you for your reply. Yes I used a solicitor but only for basic searches so I thought it's my own stupid fault but from other comments on a separate post I think I may be able to contact them as estate agent should have done searches and vendor should have declared it so will see what I can do.
Reply to the comment left by "Jerry Stone" at "21/03/2016 - 12:37":
Thankyou, we are having to get fire doors etc as the building has now been classifies as an HMO so the freeholder is organising this. I am concerned about cost of sound proofing if I call them in. As we are a mid floor flat. The plumbing is atrocious they put it in the middle of flat with mascerating toilet so that's going to cost. Advise to anyone do not buy a property with a mascerating toilet plumbers won't touch them it costs £300 a pop to fix them and tenants always put what they shouldn't down them
I have a similar problem . I bought a 3 bed flat but when I went to morgage it this year found out on the plans it's a one bed and no landlord permission or building regs. My solicitor has suggested I get landlords permission first then when I go to sell there is an insurance against there being no building regs however she said not many mortgage companies will accept it. So I am getting people into to see what needs to be done for it to get through building control. Do not alert building regs as if they come round and say it's unacceptable they might make you revert it back. So if it's too expensive to do I'm just going to keep renting it then go to a cash sale when the time is it. It is totally my own fault as to save costs I didn't get all the searches done so don't have recourse to my solicitor.