Binks

Registered with Property118.com
Tuesday 29th December 2015

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 48

Binks

19:12 PM, 18th March 2020
About 3 weeks ago

Three month mortgage payment holiday extended to Buy to Let

Reply to the comment left by AP at 18/03/2020 - 18:58
Very good point regarding rent protection insurance and just what we’ve been discussing at home after listening to one of the Q&As on BBC, where the reporter implied that many landlords “will be fine as they are insured”. Uninformed comment. I agree that based on my insurance T&Cs, eviction process needs to have been started, which is not something one would want to do in a situation where well intentioned tenant truly struggles due to the pandemic. So insurance seems to be useless here.... Read More

Binks

10:46 AM, 13th March 2020
About 3 weeks ago

Think UK rental deposits are high?

Reply to the comment left by The Forever Tenant at 13/03/2020 - 09:48
I used to live in Switzerland and the deposit information here is correct. I don't quite understand your second point. All deposits in the table are shown as the multiple indicated in the text, with the exception of Denmark, where I suppose they should have used 5 instead of 6 months for better likeness to our system and Israel and Canada, which seem to be in line with the UK in terms of paying roughly two times rent upfront (whether you call it upfront rent or deposit). If anything, they actually overstate what the average deposit is in the UK based on the rent stated, I'm coming up with £789 (try charge £811 on that rent and you are in trouble). What is clear from the data is that 5 weeks of deposit and hence about two months worth of rent in total upfront costs here is very much the bottom of the pile.... Read More

Binks

17:25 PM, 12th March 2020
About 3 weeks ago

Think UK rental deposits are high?

Isn’t that interesting. Let’s see how many media outlets pick this up. None? No I guess not, doesn’t fit with the narrative the general public have been fed for years and believe as gospel. Sigh...... Read More

Binks

9:20 AM, 28th February 2020
About a month ago

I decided to go Ltd Company route?

Reply to the comment left by Mark Alexander at 27/02/2020 - 21:59
A follow question please Mark as the OP states he has 10 properties. Even if they were all transferred at the same time, HMRC would hardly classify such a small number of properties as business anyway, would they? My understanding was that it would need to pass the “sufficiently full time” occupation condition. So presumably incorporating was not the right thing to do in the first place?... Read More

Binks

11:36 AM, 13th January 2020
About 3 months ago

REMINDER - CGT rules are changing in April 2020

I'm also interested in how the level of CGT is determined - 18% or 28%? I.e. if one sells at the beginning of a tax year and they are not sure whether they will fall into basic or higher tax band in the rest of the year. Or is the payment within 30 days automatically charged at 18% and any potential additional payment accounted for in the following tax return? Given this is coming into force in three months, I can't find any clear guidance anywhere.... Read More