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  1. Today
  2. Labour dont want them to leave the union as they lose 15-20 MP's and the Tory's 1.
  3. Won't it be absolute magic if..... There is a vote. The vote is to leave the union. Then they find that they can't actually achieve it. I can't wait to see the SNP eat humble pie......they must be one of the most disliked political parties this side of the border. Why they are given so much air time on TV is beyond me. Surely they only mean something if you are a Scottish voter.
  4. The EU require a retail GDP deficit of no more than 3% for joining members. Scotland has at present between 7-10% depending which source you look at. The UK deficit is equivalent to 1.1% of its GDP Who needs who???
  5. I can never understand why the Scottish people are so determined to leave the United Kingdom but this is not the forum to discuss this really is it. The Scottish population is approximately 4 million and with that fact alone they cannot support their services they enjoy now without the financial taxation help of the UK as a whole. The one thing I am aware of that 9,000 jobs which, surely, must be very valuable to the Scottish economy and the local economy and they will be lost at Faslane submarine base because Nicola Sturgeon is totally committed to the removal of this UK military base from Scotland. It is or was in their manifesto. There are plans for the UK submarine base to move to the Eastern United States submarine base as a very easy option and those move plans have been agreed already.
  6. Yesterday
  7. But independence without financial support from the EU or UK very likely to be insolvent but they will expect to be bailed out.
  8. Having seen many leases and many badly drafted I would say it could any, all or nobody. The devil is in the wording so read your lease as RL states.
  9. I would think the biggest fear a landlord would have in Edinburgh is Nicola Sturgeon and her quest for Scottish Independance. I wouldn't want to be a landlord North of the border if independence is achieved......New currency or Euro, new taxes, new legislation, property prices will hit the floor.....an absolute nightmare.
  10. Your responsibilities as a leaseholder will be identified in your lease. I would be surprised if you were not responsible for maintenance costs. As an example normally maintenance costs are shared between ALL leaseholders......if the roof leaks costs are shared by all owners, it's the same if there is a problem with the foundations or pipework on the ground floor or if the chimney needs repointing or the facia/ soffit needs to be replaced etc. Rusty steel staircases usually need a coat of paint, not replacement.
  11. We own the ground floor flat in a house. Outside our back door is a spiral staircase that acts as a fire escape and back entrance to the first and second floor flats. This is communal to these two flats obviously. But do I have any responsibility to contribute to repairs to this staircase or to replacing it as it is quite rusty/?
  12. Last week
  13. Its not just the tax savings, its the extra flexibility on ownership, shareholding etc. The long term plan being to leave the properties to the kids. I should do as you say grind down the numbers a bit more if I was honest but it does help having family members who are accountants with their own practice and landlords themselves. The plan with the properties I have at the moment is to gradually sell and "upgrade" to bigger, freehold, share of freehold with reasonable service charges. and buy via the Ltd Co. I am finding the the prices are reducing at the moment and not as many purchasers out there (which many change a bit next month) so I guess depending on your level of risk it could be viewed an a good time to get a good deal.
  14. Grampa have you done a calculation comparing your Ltd company mortgage including all the costs vs a normal BTL mortgage including all the costs AND taking the different tax treatment into account ? My assumption is that your purchase through your Ltd company ...including the cost of setting up the company, the higher arrangement fees & higher interest rate etc is more profitable than buying through the normal BTL route. Haven't the Tories indicated they intend to lower corporation tax significantly (ultimately to 10%) with or without a Brexit deal........the future might look very bright ? My agent just told me they have done exactly the same as you by taking a Ltd company loan......I think it's the way to go.
  15. Thanks for your thoughts guys. The only thing that hurts is the ltd company mortgage which are not as good as personal BTL. Managed to source a 5 year fixed for 3.19% but the borrowing is only in the region of 60-70k so the payments relatively small. Had to drag that rate out from the FA as he first suggested a 3.99% rate with lower fees but the lower rate and over double arrangement fees still saves over 2.5k over the period of 5 years so do your sums guys.
  16. I would also say that for me property capital growth has been very good since 2008. Certainly exceeds any other investments I may have. Labour election victory is looking a bit remote I have to say as the UK has never wanted to be ruled by those with a communist leaning as displayed by Comrade Corbyn and Commissar Mcdonald and the Momentum organisation. Mind you the Tories have not exactly been landlord friendly either over the past 8 years.
  17. Capital growth since 2008 has been very good for me. Property that I bought in 2007/2008 has risen in value by at least 60%. That is considered poor if compared to London but it varies considerably across the country. Of course, my return is much greater than 60% because I didn't pay for the property in the first place.......I just paid a small deposit and borrowed the rest of the money. The rental income paid the mortgage payments and other outgoings. There is always capital growth with property.......it's the only thing that makes a property with a low yield an attractive proposition. Capital growth has allowed me to pull a 7 figure profit out of my rental business over the last few years. Its capital growth that produces property wealth, not rental income.
  18. I don't disagree with any of the comments. All our predictions are based on the use of a crystal ball, more than ever that is less than reliable. Labour getting in seems a very remote possibility, thank god. But we ar in strange times and nowt is certain. Even the Tories are attacking us continually as an industry. We only offer each other sympathy as no one else will, we are considered fair game. BTL has been about revenues, rather than capital growth, since 2008. I don't see that changing. I also don't see rents dropping, by much at least, unless legislation steps in for some reason that I don't foresee. So if the rental return on the dosh looks attractive, and it goes w/o saying that you understand the market better than most, it has to be a winner. What else would you do with the spare dosh? Buy a place in the southern hemishpere to spend half your life at, perhaps. I don't see much positive around the UK for a while, what ever happens with Brexit.
  19. I see it as a positive move BUT only if the price paid is reasonable and you have a cushion against the small price drop which is happening right now.........but will recover. I bought 2 properties in the past year (the flat you know about Grampa 😉 ) I sold the flat back in June because after fully renovating it and a lot of hard work I accepted an offer I just could not refuse. I also bought a modern 2 bed semi and that was renovated by me and is currently let out. Probably paid slightly too much for that property but the location was 1st class and if you have the money then my policy is just do it but in a business like fashion. Interest rates remain low and % returns on cash held is not good and this will remain so imo for a long time yet.
  20. I see that survey's main purpose was to offer eductaion on the new regime to be introduced. Some questions didn't allow for a negative opinion to be demonstrated and then moved to the "this is how it will work" explanation. It's coming, it has been decided how it will work. We've just to get used to it. The comment I attempted to get across, for what it's worth, is that this will increase the cultural divide. Those applicants that may presently gain from a 'benefit of doubt' will be rejected due to the increased risk / expence this introduces. They then, rather than having been given 'a chance' to improve their lot, will find the lesser attractive locations are what will be available to them. This further protection of tenants against rogue landlords just pushes us closer to being social landlords. Why would an intelligent landlord want to evict a good tenant and incur the losses that go with that? Now imagine if McDonnel gets his hands on power.
  21. They aren’t Mortitia. Don’t think I said they were, but apologies if I was misleading. We have requested we meet the tenants too before paperwork is signed. They should be paying a deposit today and hopefully we’ll meet them tonight or early next week.
  22. I see it as a positive Grampa. Will Labour re-possess our hard worked for rental properties and sell them to the tenants? If so it will be time to exit this green and pleasant land.
  23. I only do a 6 month contract and allow periodic if all well. Way too risky to do 12 in my opinion and who wants arguments over break clauses that can't be enforced in the courts. Until new rules come in I'm sticking to my guns. Acura - why let your mortgage company tell you what to do regarding tenancies? Baffled!
  24. I see positives and negatives........I think the POSITIVES win....... POSITIVES * You have funds already available. * You've agreed to buy at a good price. * Share of freehold included. * Attractive service charges. * Good yield. * Limited company purchase which provides tax advantages. * You are already working professionally in the industry......so have first hand, up to date knowledge. NEGATIVES * Legislation continues to impact profit......future Tory legislation is all negative for landlords. * Property price rises halted......potential fall in prices possible depending on Brexit outcome. * Labour may win the next General Election.....additional very bad news for landlords. But where else can you currently put your money to produce a better return in these low interest times ? If anyone knows......please let me know.
  25. Had a chunk of cash hanging about so just had a very/fairly good offer accepted on another BTL flat. Five flats in a block with a comes with share of the Freehold and sensible service charges. Cant see huge capital growth in the future (regardless of Brexit) but a good yield but in the same road and opposite 2 other flats I own. I am purchasing it in a Ltd company which is a first for me. Bold move or pure stupidity?😄
  26. Thanks all. We’re going with a 12 month contract with a ‘right to renew’ clause subject to property inspections showing the house is in good shape and rent is paid on time. Bit of a risk they may not renew, but we all go through that. Also renewed NLA membership which officially means I’m out of LL retirement 😏
  27. I wouldn't go for a 3 year contract. Far too long imo. 12 months max. and then a rolling contract. Both tenant and landlord should be happy with that arrangement. If you can give a reasonable assurance that you as the landlord are very unlikely to be selling up in the near future that should satisfy any tenant looking for a long term let.
  28. For new landlords, we know that you want to learn how to correctly calculate the Property Rent in Edinburgh as soon as possible, but there are a few things that you should consider and remember before you set out to do your research and accurate calculations. You need to consider the following points of your property to set the right price for your property. It will help you to maximize profit from your investment. Property worth Often, you need to find the worth to get a base rent value. This is an especially useful method for those that are renting out their residence as you should be aware of the true value of your home in that area. Local rent One of the things that most landlords do when trying to finalize what to charge for rent is to check out what others are charging. There is, however, one common mistake that is made when using this method. Consider Demand Demand can affect the Property Rent in Edinburgh. You can charge more if you are offering all sorts of amenities to the tenant. In case your tenant desire to furnish the property as per their need then you can reduce the price. All these points need to consider while finalizing the Property Rent in Edinburgh. Besides you can also seek help from the Letting agents to discuss your property.
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