bobbo

Wrong topic, too many tabs open. Oh well...

Interestingly if the deposit isn't held within a recognized deposit protection scheme then the landlord does not have the right to retain any of your deposit on completion of the tenancy.

I particularly like how this chap thinks corporate landlords will cherry pick. Because of their exposure, corporate landlords can afford to house higher risk, higher yielding tennants without fear of going underwater if they encounter issues. Corporate landlords will also have standardised rules regarding home use and maintenance and procedures to complain or request repairs etc. The mind boggles.

I saw the same thing. I would counter that if you can't understand that income and gross profit is different to net profit then no one is going to waste their breath convincing you otherwise.

This is gold ^^^

I think the author has hit the nail on the head regarding CGT but missed the point entirely. This could like the pension reforms be a way to encourage the greedy to pay taxes sooner than they might have liked. In the example mentioned people who have extracted and probably spent capital gains from the 90s tax free have been rumbled. Parties over, either pay up at 20% a year or as a lump sum when you sell up or restructure. I might vote Tory next time.

Totally agree with that. Write to your MP and tell them to fix the nhs so its not a waste of money. Also, scrap excessive benefits to wealthy pensioners.

I don't think you can move out mid tenancy period and I don't think utilities or council tax affect dps ie the contract is with you. However you need to note your final meter reading to ensure a correct final bill. Easy.

I would imagine mortgage interest deductions are very much less than the figure above. I overheard a colleague some time ago complaining that HMRC had rumbled him and were demanding tax but he was arguing that after interest and expense he hasn't earnt anything. Not sure how he got on. Most people assume you don't need to declare it if you're not making very much. I would say that this is an avoidance sweep and that revenue's will have to pass through some sort of company structure. Typically in the letter they didn't mention the other options to raising rents being, taking it on the chin, decreasing leverage and ahem, selling.

A Masters could be worthwhile otherwise a professional qualification or at least working towards one will open doors. APM CIMA etc. Try and find a new job would probably be easier and more rewarding, especially at the moment.

The only thing you all forget is that there is inflation in Australasia so while I agree that it is overpriced, over the term of a mortgage you are extremely unlikely to lose out. Also the current collapse in currency values will support prices as it did in the UK 6 years ago. Let's see what happens here as Sterling recovers.

Also I have been hearing that service exports could actually be much higher than current estimates.

It's all relative though. Europe, China, Australia. BRICS. All have worse fundamentals. Aside from property prices, UK can only go up from here.

I think if the total payment was greater then that would have been the headline. When interest rates are higher, the initial capital payment is much lower as the effective return is much greater. A quick excel calc comparing the first year of 25 year mortgages, a 5% interest rate has a capital repayment 6 x greater than a 17% mortgage. If the interest payment is the same on both mortgages the capital payment is 15 times larger. This multiple reduces with time.

Epsom? Close to Heathrow.

It's pretty controversial but The Economist is now advocating that tax relief be removed from all interest as it encourages mis-allocation of capital. http://www.economist.com/news/leaders/21651213-subsidies-make-borrowing-irresistible-need-be-phased-out-great-distortion

I would agree, either btl and rent or London. Both would be a push. I'd go for London.

Also, what if you extend your London mortgage and use it to buy a second property? What percentage of cash buyers have obtained non-mortgage finance?

Si1, love the analogy. The UK has cripplingly expensive childcare costs. Where I live, with 2 kids, we basically need to pay to go back to work in the first 3 years and then 15 hours a week is not going to give us much respite due to the way it can be calculated. I understand the costs are due to high rental costs so there are not so many options without nationalising infant care (which would be even more expensive). Friends in Germany and New Zealand (although smaller cities) and in Tokyo pay much less than home counties/ greater London, and childcare costs have increased way over salaries in the last few years so it must be impacting the UKs economy and productivity.

I am a total believer in HPC but if you can buy and afford to pay down your mortgage and you intend to stay in the same town for 5 years or more then it usually adds up to buy.

If I was happy with the valuation then yes, I would buy 100% of half a house. I'm helping you as a friend, thats it, and I would not be expecting a similar trick to be played on me when I try and sell my stake, nor, should you progress in your career or also win lotto, and want to buy me out at a later date would I be expecting a premium from you to compensate me for whatever. Surely if you didn't have a helpful uncle or friend and your friend said he wanted out. Then you would have to sell and settle up, either now or later once the mortgage term has completed. If you sell the house then surely you would both be wanting 50% of whatever you achieve in the market. You would have to bear half the costs and that would be that. If you did apply a discount then you can't expect him to pay fees as well unless you anticipate declaring them to HMRC. If you will be materially worse off because of your mortgage or other quantifiable costs occur then you need to inform your friend of the exact or likely cost and ask that he compensate you - don't fudge it. Once he is aware of the costs then he might change his mind. Assuming you go ahead, you will need to keep miticuolous records such as invoices and proof of payment as you are talking about relativley large sums of money to an individual. In short, if I was your friend and you told me you were going to sting me for minimum £5k plus fees which sound like they are going to be £5k again I'd not sell, move out, and rent my room out to whoever would take it. Surely you are the one who is winning here already. Don't even try and fleece your friend but take this as a lesson and ensure you have planned an exit strategy with your uncle for how you would handle the situation with him when it comes up again (and it will).

Hi, A friend of mine did this with his ex. I understand he got a professional valuation and split it down the middle. I guess if you don't like the valuation you could get another one and take the average or negotiate between the two. As your friend is buying out early, surely asking that he pays legal fees for your side of the transaction or break fees, but it would be damaging to your friendship if you then demanded (or even suggested) a discount as well. Surely 10-15% would wipe out his equity and if he's paying all the costs its no skin off your back.