General Election 8th June – Who on earth do landlords vote for?

Have you not considered incorporation?

Reply to the comment left by "NW Landlord" at "29/05/2017 - 14:46":

I have set up a limited company now and have generated some money through re-mortgaging and the sale of one of my rental properties to buy four/five rental properties within the company. So I'm not leaving the sector, but adapting as best I can.

My accountant has admitted that the tax changes are beyond her capabilities and she is going to introduce me to a specialist in the field who is going to take a look at my portfolio and advise on the best approach. We have a meeting set up next month.

Of course the thing to do would be to sell some of the properties and use the profits to pay down the mortgages on the rest but I have to consider:

1. How to sell off six/seven properties and minimise the CGT bill (one a year would seem the logical thing to do in order to utilise the CGT allowance). Although I thought I read somewhere on here about the possibility of delaying the CGT bill) not sure, I need to do more research.

2. What to do about Early Redemption Fees on the mortgages I currently have, most of mine were recently renewed and I'm tied in for five years so the fees are still quite high and will be for five years. The best thing would be for me to sell of the ones that finish their fixed rates first so that I can avoid this.

I have seven mortgages with Aldermore who have told me that, if I wanted to incorporate they would set aside the Early Redemption Fees and charge me a one off 1% lump sum to transfer all of them to the company which would be a lot less expensive. But again, what do I do about the CGT?

So, a lot to think about and I haven't given it nearly enough thought but my instinct is that the best approach is a slow steady one which is why I'm going back to work.

But, to link this post back to the original purpose of this thread. On the basis of what I have just written, and assuming that my voting decision is based entirely on my property business, I will be voting Conservative. Purely because we already have a strong idea of what she is going to implement and it makes it easier to plan for the future. Not that it's ideal but it's out there.

Ask me tomorrow and my focus will be somewhere else and I will be considering Corbyn. I couldn't sleep at night if I voted UKIP. Just typing the word makes me feel ashamed.

So confusion reigns. Such is the way of things for many people with this election in particular.

Have you spoken to mark smith one short phone call to him will let yiu know if you can incorporate and at what cost. It has worked for me and we can move forward now after 18 months of worry and uncertainty. We too have set up a new company and are buying through that and using aldermore for the first time aswell . Our existing portfolio is now incorporated and started trading April recommend it to anyone.

Reply to the comment left by "NW Landlord" at "29/05/2017 - 18:13":

No, I haven't. But sounds like a plan and you make it sound so easy!!

How do I contact him?

Pam

Not sure I would post his email best thing is to message Mark Alexanda he will point you in the right direction if you're business ticks all boxes then it's easier than you think and really does take the stress away

Reply to the comment left by "Lindsey " at "29/05/2017 - 10:38":

Just for follow up on the media issue.
Seen in Guardian:
https://www.theguardian.com/society/2017/may/25/london-property-squeeze-affordable-housing

and an interesting opinion about LLs: "We think broadly a third of landlords are well-meaning and do a good job,” said Southwark councillor Mark Williams, “a third are well-meaning and do a bad job, and a third are rogue landlords. At the fringes of that, you have slum landlords and criminal human trafficking.”
Some of shocking photos too. And not a word about rogue tenants....

BTW - it is a great post Lindsey! And sadly very true.

Howard Flight: In defence of the much-needed buy-to-let market

http://www.conservativehome.com/thecolumnists/2017/05/howard-flight-in-defence-of-the-much-needed-buy-to-let-market.html

Reply to the comment left by "Whiteskifreak Surrey" at "29/05/2017 - 20:02":

Thank you! I suppose from the Guardian I should be thankful it doesn't say we're all the spawn of Satan 🙂 But here is the same thing again - London London London. One can see why the Scots are annoyed - the government and the media seem to think the property market exists only inside the M25, or else that what is inside the M25 is echoed through the rest of the UK. Imbeciles.

Reply to the comment left by "Barry Fitzpatrick" at "29/05/2017 - 20:08":

Howard Flight seems like the sole voice of sense in the wilderness at present. It's a shame the powers that be are not listening. I suspect the hole the media has dug for us is so deep they won't dare.

If people can spare a few minutes to comment on the article that would be good, including countering some of the ignorant, negative comments. The link again is:

http://www.conservativehome.com/thecolumnists/2017/05/howard-flight-in-defence-of-the-much-needed-buy-to-let-market.html