Mike T

Registered with Property118.com
Saturday 13th July 2013

Trading Status
Sole Owner

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 111

Mike T

19:21 PM, 21st February 2020
About a month ago

CGT payment deadline changes!

Reply to the comment left by Dissalusioned at 15/02/2020 - 15:43
I think you will find, on the Gov/self assessment/tax return website, that they have a calculator to do the job for you. Just fill in the details asked for and the calculation is made . Also, I think you can go back to it to change/correct/add BEFORE submitting.... Read More

Mike T

14:29 PM, 10th February 2020
About 2 months ago

CGT payment deadline changes!

Yes, I made the mistake (unknowingly at the time) of notifying the taxman of the sale of a property when submitting my end of year return. This resulted in a £100 fine. Lesson learned - keep up to date with all things. Read Property 118 DAILY and stay in touch cos 'They' are out to get you 'one way or another' 😉 .... Read More

Mike T

20:11 PM, 13th January 2020
About 3 months ago

Letting agents pass key without deposit, advanced rent and signed contract

Reply to the comment left by Paul Shears at 13/01/2020 - 11:35
Hi Paul, just a little point on the monthly profit. The first month was low because of the set-up fee of £400. It seems the regular amount would be 750 less 59 giving a profit (before any other exs, like mortgage etc) of 691 which is a lot more acceptable... Read More

Mike T

10:32 AM, 1st January 2020
About 3 months ago

Universal Credit and possible tenancy questions?

Which ever way you look at it it's a minefield of problems for any Landlord to take on. A very sorry state for the unfortunate 'possible tenant' who clearly needs help. From the figures quoted the system goes some way to help. What a potential LL has to ask him/her self is 'am I prepared to take the real risk of a large financial loss along with all the headaches ? ' As mentioned several times on this forum, We are not a charity ! This sort of dilemma is what Shelter could be stepping in and helping with ....?... Read More

Mike T

14:47 PM, 26th November 2019
About 4 months ago

£100,000 for a bad property MOT!

The whole system in GB has turned to utter cr@p. All the reasons as given by above comments force me to take this view of things. When I saw the writing on the wall I stated selling one property a year. Just got two more to go then I'm out of it completely. I've had problems with the 'system' i.e court administration, Judges who have never heard of the wisdom of Solomon & don't live in the real world, Court Bailiffs following up on a non-paying CCJ debtor, with an attachment of earnings order in place, taking over 18 months to serve a notice as she changed jobs and need to provide a fresh declaration of earnings etc.. Crikey !, I could go on but it gets boring. I can accept that a lot of stuff 'goes with the territory' and I have the view that being a LL is not a 'money for nothing' situation. Most of what we do we are getting paid for, earning it in fact. At the end of the day to any of my Ex tenants who are now in smaller LHA accommodation who feel that they got one over on me I would say this ' Thank you, you have helped me over the years your rent has paid for my house in sunny climates, paid for my mortgages & topped up on the meagre uk state pension that I get'.
Moreover, I have been able to draw a line under all that cr@p, move on and enjoy life. Would I go back to living in GB ? Last resort, very much last resort ! For the time being I am a non - resident LL.... Read More