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Everything posted by Richlist

  1. There seems to be rather a lot of first time buyers around in my part of lockdown England. I've had half a dozen in 10 days. Problem is because they are FTB's and they have their mortgage 'approved' they think they are in a position to offer a ridiculously low price.....below the range the agent has set. The reality is they hold NO bargaining chips of any kind. Their total inability to ask any worthwhile questions beggars belief........they don't ask about ground rent, service charges, council tax, lease length or anything else. It's even worse when they drag their parents along for advice.......and there is none forthcoming. Unfortunately for them they don't seem to understand that on a scale of best buyer to worst buyer, they are 1 notch up from worst buyer. Best buyers are investors with cash. I'm still going to church on Sundays where I pray for help and redemption.
  2. Happy ending. I read the meter. Went to the EoN web site, registered, input my readings and BINGO........they issued a new bill online for £24.62 which I paid immediately. They're gonna send me a monthly reminder to input my readings......so I pay for what I use. 10/10 I'm satisfied. But I still wouldn't recommend them.....these things really shouldn't be so difficult.
  3. I got a reply from the dreadful EoN today.......it's only taken them almost 5 weeks to respond. So, an empty property, nobody living in it and they want £135.......absolutely no chance......I'll check the meter reading tomorrow......I probably owe them £20 at the most. Is it any wonder people have no confidence in these large organisations. This has got a long way to run yet.
  4. I am with Octopus with my own home and very happy to be with them. But.....the property in question is a rental property. Empty and unoccupied and up for sale. So changing suppliers is not really something I want to do in those circumstances. I'm mindful that energy companies are very quick to pass any debt on to debt collectors. I have personal experience where the energy company just sell the debt on without contacting the customer......and don't forget I'm not even a customer with a contract yet. A £50 energy bill can very quickly turn into a £250 debt when costs are added.......that's what I'm trying to avoid.
  5. EoN ......31 days today and no response ! I'm gonna wait 40 days then write again.
  6. Still no response from EoN.....it will be 4 weeks tomorrow since I sent them a letter with my details. What does the forum think I should do ? Should I take legal advice ?.......I want to register and pay for the electricity I use......EoN are not making it very easy for me to do that are they ?
  7. Well....the old question still comes to mind. Where else are you going to put your money to give you a better return ? Even with an increased level of CGT and perhaps other attempts to eat into profits we are perhaps still getting a better return than elsewhere.
  8. If you think CGT payments are high at the moment when they stand at 18% & 28% don't read the newspapers. Rishi Sunak is considering raising CGT in line with income tax i.e. 20% & 40% or reducing the allowance from its current £12300 per person pa to £5000 or even £1000. In my opinion things WILL get worse, charges will undoubtedly be higher than they are now.
  9. Richlist


    It will be interesting to see if the rich and famous will be allowed to jump the vaccine queue by reserving their injections in advance by perhaps paying up front or paying extra Ok....before everyone throws their arms up in horror at how unfair that would be......it's exactly what the UK Government & others have done by reserving millions of vaccine doses from numerous drug companies for their own populations ! That will be at the expense of the poorer nations who will have to wait a little longer. Isn't it a shame that we are only rich and not famous as well ? 😁
  10. Looks like you have a good opportunity there......which is a bit of a plus. Have you looked inside the garage ? It might be full of either rubbish or preferably valuable automobilia. They often have a corrugated asbestos roof. If so, be careful if it's you removing the overgrowth......at least wear a good mask.
  11. Richlist


    The answer is......it's probably not acceptable.
  12. Richlist


    Let's hope the vaccine works ! Don't get excited if you are in your 40's.......your turn for the vaccine will come but only after 25% of the Worlds population have been vaccinated first.
  13. Melboy, Your fence blew down due to a storm and the oven & gas boiler failed months after your purchase. These are normal maintenance expenses that everyone faces they are not unexpected costs associated with your purchase. Grampa, A leaking roof should be evident if a proper check is carried out. The rotten doors could have been discovered by checking more closely and your flat roof repair wasn't really unexpected as you had already identified it and intended to repair it yourself. Perhaps you should feel fortunate that the added expense is only £2.5/3K, seems to me it could have been so much worse.
  14. Don't you look before you buy ? I don't mean a quick 5 minute scan of a property i mean a proper look and check of each room. If you don't want to pay for a survey or a detailed condition report then you need to take the time to do it yourself. You may not do it on your initial viewing but you can certainly arrange a second longer viewing. I mean.....come on.....how can it be a surprise/ an unexpected expense to have to replace decking or fencing......a close look with something sharp will tell you if the wood is rotton or fence on its last legs. Oven repairs......how difficult is it to check it's all working. Surely you can look/ check everything is working before you buy........the challenge is to find something wrong that you can use as a bargaining tool to get the price down. Things go wrong after you buy property but if parts of it are wrong before you buy them it's only unexpected expense because you haven't looked close enough. When I buy I certainly have unexpected expenses.......but it's small low cost items I usually deal with not big ticket items. I'm genuinely shocked that seasoned landlords/ property investors will put their hands up and admit to not doing a very good job.
  15. I assume you have an accountant to handle your business accounts and it might be advisable to ask him to deal with the tax return on your private development. The rules can be a bit complex depending on what you do & when you do it. It's sometimes worth delaying some work if that's possible until after the property has been let. The reason is that e.g. a new like for like kitchen or bathroom would normally be offset against rental income. But if you carry out that work before your first let, then the cost of that work becomes part of you acquisition cost i.e. it gets to be offset against CGT when you eventually sell. The other consideration is ....do you want to claim 20% / 40% against income or 18% / 28% against capital gain at some point in the future.
  16. You should have a very nice property after all that work and one which won't need any serious expenditure for many years. Make sure you account for the expenses & offset against income tax &/or future CGT. One area that I didn't notice mention of was central heating.......perhaps now might be a good time to consider any work that's needed.
  17. I'd like to introduce some good news to this thread. One energy firm......and the only energy firm.....that I have been really, really happy with and that I would unreservedly recommend to all of you is :- OCTOPUS ENERGY. Competitive rates and absolutely brilliant in every respect.
  18. Here's the story :-..... * Tenants move out, they confirm they have been using EoN as their electricity supplier. * I take meter readings the day they leave and then spend approx 2 hours trying to contact EoN.........you couldn't make it up !!!!!!!I * I try to find an email address for EoN.....it doesn't exist. I have an old EoN bill...... no indication of an email address. * I go online......their on line chat room doesn't work. * I spend the next 45 minutes calling various numbers for EoN.......all telling me they are very busy and there is a long wait. * OK....I surrender or in reality I give up. I write a letter to Eon on paper with all the relevant details and post it 1st class to their customer service address. What's the chances of me ever getting a reply ? I have absolutely no confidence in them. I couldn't possibly recommend them.
  19. Richlist

    Mr Neale

    Do you have a written contract with the tenant ?
  20. This is where I often disagree with the law....... In court a smart lawyer might argue: The landlord knew the tenant had a dog, knew the dog had sharp teeth and knew that dogs like to chew. It's reasonable to assume that the landlord would also be aware that a flexible hose can be chewed thru but nevertheless was happy to accept those risks. Therefore it could be argued that the landlord failed to act on something he knew about. I rest my case!
  21. That s an awful thing to happen, you have my sympathy and I hope you get it sorted quickly. I've always avoided letting to tenants with pets but I have to admit........a dog chewing through a water pipe was not one of the risks I had ever considered.
  22. Just bought a job lot of heaters......winter is coming.....I sense a healthy profit on the way. Lawnmowers are a good buy this time of year....buy, hold & sell in the spring. It's the same with garden furniture and air conditioning, all can be picked up for a song. Don't recommend suitcases as nobody is travelling so sales can be slow. Don't recommend bicycles either.......seems prices have gone through the roof as people have more time on their hands.
  23. My wine cellar is full, I have all the music I need and there is no shortage of women in my life. I was just saying to friends the other day, where did it all go wrong ? 😇
  24. I feel very fortunate that I have never really been a gambler. I have played the stock market and made more than I lost, which is generally the idea but the only thing I do now is a few charity lotteries & lotteries linked to savings accounts....but I've never won anything. Don't think I have ever bought a scratch card or done the national lottery or the football pools.
  25. We each already have the maximum holding in p/bonds.......I've had to put the proceeds of the sale of the other properties somewhere.
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