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Nugget

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About Nugget

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  1. Nugget

    Buy to let (bubble)

    Thanks for the advice guys, I think I will wait on the sidelines for now, rather than being lured in on the false belief that BTL is a win win situation. Some of the estate agennts I have recently seen have bigged up the current BTL potential and some estate agents have also lied on the amount of rents that I could achieve.
  2. Nugget

    Buy to let (bubble)

    Thanks guys, i guess it's abit of a gamble right now, but they said there would be a crash for years now, I wish I had a crystal ball!!!
  3. Nugget

    Buy to let (bubble)

    I was contemplating buying a house to let as an alternative to a pension, but fear that if interest rates continue to rise (which is probable in November) then the buy-to-let bubble may soon burst, as the guys that got in when house prices were low will run for the door at the same time, causing a stampede to sell, thus causing a long gradual crash in house prices. Is an interest only mortgage is even riskier in this possible situation, as this type of mortgage is more of a gamble on house prices than a repayment mortgage. Just wondered what you guys thought, would be interested to hear your opinions
  4. Nugget

    agent or no agent

    I have a buy-to-let mortgage and I'm not required to use a letting agency, i manage my own property. I'll assume that you have a residentail mortgage, that's why you've asked the mortgage company permission to let. Anyway, if you got verbal permission from your mortgage company, i would advise NOT use an agency. But if they got you to sign a declaration stating that you must use an agency then you should. When it comes down to it, the mortgage company aren't too bothered who lives in the property, as long as the keep receiving their mortgage payments. However, it is vital that your house insurance is changed, otherwise if some bad ###### happened when your tenant/s were living there you would be uninsured. Deposit wise, i'd ask for 6 weeks (£1,000 total b4 they sign the tenancy agreement), like Mark said, make sure the funds are cleared b4 you tenancy agreements are signed and you hand over the keys. The reason i wouldn't use an agency is: 1. They are very expensive 2. They might be in no particular rush to let your property out, after all they are not losing money when it is not let out, you are! 3. Some agencies don't bother checking references properly, you can: www.letsure.co.uk will charge about £14 for a full financial check (ccjs) it is instantanious 4. Basically, you can take full control, if you want a job done properly do it yourself Be Lucky!
  5. Nugget

    neighbour problems

    With any luck, it looks like in two weeks time the flat will have been cleared out. If it's really getting you down, next time there's a racket call the police, once an offical complaint has been launched, perhaps this will put pressure on the housing association to clear out the flat sooner. Best of Luck
  6. Nugget

    Property Inspections??

    You can inspect your property as often as you like. Although more than twice a month may borderline on harassment. All you need to do is given written notice 24 hours before you inspect. Out of courtesy, perhaps knock first, if no reply enter by yourself. You don't have to pander to them with reasons why you want to inspect so often, it's your property and you are entitled to make sure it is looked after at all times
  7. Nugget

    DSS Rent Arrears

    Time to lean on the Guarantor, you've been reasonable, but now you need to flex abit of muscle (if need be). Ask for immediate payment from the guarantor, then let him hunt down the money. Or a maximum of one week for the guarantor to pay up. It does take ages for the council to get going but is sounds like you've had enough. Tell the guarantor you are currently seeking legal advice. Be Lucky
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