psst ... someone just bought a buy to let empire

mayonnaise

Zandoni wrote: »

The main problem is that the press just publish whatever the Wilsons say, I doubt they ever check any of it. This means every story published is probably not entirely true.

Yes, I always had my doubts about that broken cistern too.

Zandoni

mayonnaise wrote: »

Yes, I always had my doubts about that broken cistern too.

What doubts did you have?

mayonnaise

Zandoni wrote: »

What doubts did you have?

Whether it was peach or not.

And now I wonder who the next lightning rod for the envious brigade will be if Fergus sold up?

Zandoni

mayonnaise wrote: »

Whether it was peach or not.

And now I wonder who the next lightning rod for the envious brigade will be if Fergus sold up?

I'm envious of the amount of money he has, but I'd never do what he has done to get it, I live locally and have met people who've crossed swords.

cells

Out,_Vile_Jelly wrote: »

The best rental experience I had was with a flat owned by a commercial company. There was a 24 hour helpline to report issues, a central furniture warehouse so you could be flexible with full/part furnished options, and a proper paper trail for everything. It was reassuring dealing with slick professionals after all the amateur idiots out there.

everything costs £££ given the option most tenants will opt for the lower cost lower service option as they dont see it as value for money.

of course the best of both worlds is a armature landlord which gives a level of service comparable to a professional landlord but not at the professional landlords prices

cells

wotsthat wrote: »

They wouldn't be free of CGT. If they sold their main residence there's no CGT. Moving into one of the BTL's doesn't give full relief from CGT - only 18 months.

Worthwhile if you're a recent purchaser in London and seen some quick gains. Less so if you've held for 20 years because you'd still be liable for CGT on 92.5% of the gain.

and its only the last 18 months not 18 months

So if you have had a BTL for 15 years and live in it for a year and sell it. The full 15 years it was a BTL is CGT taxed

If however say the same BTL you had for 15 years, but during year 10-11 you lived in it then 1 year of living in it plus 1.5 years of exemption would apply. so 2.5 years no CGT 12.5 years CGT

so a good benefit if you historically lived in it while not any benefit if you live in it at the end and then sell

vanilla_twist

I am at a loss about how Fergus is a big property mogul when the house I rent is registered in his wifes name and is no part of a larger company as I believe there is no company in either of their names just one heck of a lot of houses registered to Mrs Wilson.

I am however very pleased to hear this duo are no longer to rent out houses that they refuse to do any maintenance work on and I mean any work, My poor neighbours have had no fence for the last 11 months and I have had 2 major leaks, both in summertime and one taking 6 weeks to repair leaving me with not water.

I am sure many of the tenants in Kent are tonight raising a glass and saying Good Riddance:)

cells

vanilla_twist wrote: »

I am at a loss about how Fergus is a big property mogul when the house I rent is registered in his wifes name and is no part of a larger company as I believe there is no company in either of their names just one heck of a lot of houses registered to Mrs Wilson.

I am however very pleased to hear this duo are no longer to rent out houses that they refuse to do any maintenance work on and I mean any work, My poor neighbours have had no fence for the last 11 months and I have had 2 major leaks, both in summertime and one taking 6 weeks to repair leaving me with not water.

I am sure many of the tenants in Kent are tonight raising a glass and saying Good Riddance:)

lets hope the Chinese landlord 5,000 miles away is more prompt with repairs.....