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scimus

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  1. Can't believe it's been a year since I last posted here. Bought a house in North Bramhall and had an extension built to it. Doing pretty well at the moment with lots of equity in the house and still have 200k+ savings in personal and business accounts. Now the problem is how to invest all this money, with ultra low interest rates (couldn't believe it when it last dropped) and stocks at their highest and BTLs supposedly doomed :-).
  2. You may well be right. I was only mentioning what my friends had said and it's all very comfusing to me. The only reason I've taken an interest is that it's similar to the contractor expense issue. There is nothing generous about the expense 'tax relief' or the mortgage interest 'tax relief'; it is standard practice for all businesses to offset costs before profit is calculated. The current proposal is to tax turnover, which is unheard of in business. Running a business always carry more risks than a job. But some of the recent political changes seem very business unfriendly. Mind you I'll have much bigger tax bill on dividends next year. You can't blame me for getting a little bit upset? :-)
  3. Interesting...I wonder why one who has a sizable portfolio like this doesn't already hold all these properties in a company structure... I have friends in London who knew a lot of BTLers and most aren't concerned. I don't know whether it's to do with lack of understanding or if the particular group are in better financial situation than others. Many did say the new rule seems increduless and they expect it to be overturned or at least modified. I know most people here will disagree but from a business point of view it doesn't really make sense and is retrospective affecting decisions made a long time ago based on a different logic and model...oh well that's another debate for another day.
  4. Thanks for the info. As far as I understand, the changes to tax relief on expenses won't affect limited company contractors outside IR35 so fingers crossed I should still be fine. The FT article is old news. The professional BTLers will largely be fine. Incidental landlords on low profit margin will be hit the hardest and they might start to sell to cut the losses. However you never know if that's gonna trigger a price reduction chain effect or if you'll just have a supply issue matched by low demand. I don't really think if I'll be interested in the BTLers' stock of flats, new builds and studenty areas etc. But you're right there's no real hurry.
  5. I'm a contractor/work for my own consultanty so can't afford to not take a job elsewhere when work in my area dries up. Working from home is impossible because clients won't allow it. Unfortunately this means having to travel and live away from my family during the week or my family has to move with me which is difficult. Of course I can choose to take a break or take a permanent job but I don't know...the former seems lazy (I'd like to think I don't have such luxuries since I'm only 30) and the latter seems boring and not as well paid. There's always the option of converting to permanent I guess cus a number of companies have offered positions...Oh well. The sacrifice is the pain of being away or being stuck in rented accommodations. I think my husband and I just want to call somewhere home and make it our own - it adds purpose/joy to our lives. And I just need to harden myself and live like other contractors and not complain about travelling :-)
  6. Ha you digged that out! Both are sold now. We keep having to move for jobs and therefore was unable to keep the houses for too long. Problem is, renting sucks, especially since we have pets. We have rented for over a year now so quite keen to buy again. The plan is to stay somewhere for longer this time and if I have to travel for work I'll just travel without moving. We're not stretching ourselves which is the lesson learned. We can now buy with cash or with a little bit mortgage. The experience though is very different this time since we keep getting overbid by someone else. I'm not sure it feels like it's turning into a buyer's market anytime soon.
  7. Just want to mention that we lost with our bid of 220,567 on the house in Lacey Green. Agent said that the other offers they received were significantly higher. This is just mad.
  8. The solicitor's was sold for only £160k. I read the planning application documents which looked very reasonable. The gable end that you were talking about - was it the rear or the side?
  9. I know, hence the doubt. It's area vs house. And when we come to sell this house in the future we'll have to reply on people falling in love with the house rather than someone who wants to live in macc town center so its harder to sell.
  10. I'll get a survey if I decide to put in an offer. But still unsure. I did see an empty factory with broken windows on Churchill way which is a concern. But the back of the house was shielded by tall trees so couldn't really see beyond that.
  11. You might be interested to hear that a neighbour bought it together with the 3 garages at the back. The work to convert it back to a home has just started.
  12. Train into Manchester is not that much more expensive than from Wilmslow and takes pretty much the same amount of time. Hubby can't drive to work anyway since there's at least a full year's wait on worksite parking space. For me its an OK daily drive to Wilmslow a regular 1:50 mins train to London. Shopping will be on the door step but I'll miss Hoopers and all the nice restaurants. Schools are good just not as good but that's a distant worry. I've thought about Cheadle Hulme but it's probably too residential for us. Had lunch in a highly-rated pub today in the area and thought it was OKish. The streets look clean but I can see some empty properties around and rundown factories/businesses. Still haven't made my mind up.
  13. Great thanks for the advise. We went to see this one and loved it. http://www.rightmove.co.uk/s6p/54504908 And so much cheaper than Wilmslow. Not so sure about the area though...
  14. Actually Sharpey you're right I've always travelled from Wilmslow never thought about that. Venger, great thanks for all your advise! What do you guys think of Macclesfield? I've been starting to look there in the last few days as it's great for transport and quite affordable.
  15. Oh wow I remember seeing that house when it came to the market and thought how lovely, but decided against the location because I wanted to be on the main line to London. I have been looking 6 months in Wilmslow but couldn't find anything decent under 350k which is quite depressing... Estate agents actually think this wreck could sell up to 250k. We'll see. Renovation can easily add 60-70k on the bill...
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