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eek

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About eek

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  1. Remember that Limited Liability partnership sc(am)heme Busta was selling last year well it appears that he's finally found out that it doesn't work https://www.property118.com/beware-tax-planning-models-using-llps/
  2. Agreed it doesnt make sense unless and until lenders discover they have money that they cannot lend to anyone so cut rates to attract the few borrowers they can lend money to. Meanwhile all banks are going to ramp up their btl standard variable rates to profit from those unable to find anyone willing or able to issue a new loan
  3. eek

    An evening with a BTLer

    Letting fees won't be banned on 1st April. They will be banned but a consultation has to be done first and that can't do that to meet a April 1st deadline. I expect the ban to take effect 1/4/2018...
  4. eek

    2017 predictions

    Yep recessions need to be frequent - as frequent recessions are short and swift. This one definitely won't be but as 80% of my business is now offshore it won't really impact me...
  5. A final visit before I finish for Christmas brings up the following masterpiece https://www.property118.com/impossible-get-remortgage/93434/ Income £650 a week wanting a mortgage of £417,000 and the most he can get is £405,000..... So things are beginning to tighten up a bit and the remortgaging is going to become far harder next year.... Next year Rodders - they'll all be bankrupt....
  6. I love the fact the letter giving approval has been "destroyed"....
  7. Given that the market is definitely going to get worse for crap btl properties should we suggest that she stops buying the mortgages now to ensure the properties are auctioned before everyone else's.
  8. Up north we are already at 2004 levels and have never really moved much above or below them - and still people aren't buying much. I think prices will have to be a lot lower than that...
  9. When did the tone of MSE forums change? That isn't the reactions you would have got a couple of years back.... And they are utterly screwed. No work should have been done on the property and losses swallowed as early as possible....
  10. eek

    An evening with a BTLer

    Oh until the public sector IR35 changes come in from April 1st....
  11. Thinking about it the mini boom from the stamp duty changes finished in April so that is probably the last bull trap. Only 1 direction to go from here on in....
  12. Yes it would which is why you end up the Busta selling that dodgy (to most people) deed of trust scheme. You actually don't want them doing that. Purchasing houses the way they have means that they need to extract themselves from their portfolio by selling the houses in the correct order as the earlier houses with all the equity withdrawn for deposits elsewhere won't generate enough profit to cover the capital gains tax due.
  13. eek

    Airbnb - London 90 Day Limit

    Spareroom.co.uk and mondaytofriday.com are what I use. Just search for ones where you live with owner....
  14. eek

    A Goodbye To All That Buy To Let

    If you change bomb to gas leak you can see why the BoE want to fix it now rather than later. The Robles is only going to get worse if you leave it and doing nothing isn't an option as it will explode by itself anyway at some point. best to get the nose peg and dive in
  15. Why do that when the following information is available directly to HMRC Council tax records Land registry information Personal Tax records Given that HMRC is usually running to stand still its just something they haven't done yet as they believed bigger amounts of money were available from elsewhere, Given that the tax system changes in April (and will generate more tax) I'm sure its on their radar of things to do. However its not a priority item. Lying on a tax return means HMRC can go back 30 years and they will if you've missed important information (such as running a BTL business) off your return. They also like to seek maximum amounts of money so waiting until an overegged estimate of tax owed cannot be argued with is very much HMRC's current playbook.
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