How To Invest In The Uk Property Market

Overview

After years of successfully building and managing his own property business, Gerry FitzGerald has produced a thorough and comprehensive guide to investing wisely and profitably in residential property. Areas covered in this book include: The right properties to buy, and where to find them; the best tenants to look for, and how to find them; use an agent, or do it yourself; pros and cons of student houses; how to buy well at auction; choosing the right mortgages and bridging loans; tax and how to reduce it; and, ...

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2009 Paperback Good Connecting readers with great books since 1972. Used books may not include companion materials, some shelf wear, may contain highlighting/notes, and may not ... include cd-rom or access codes. Customer service is our top priority! Read more Show Less

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Overview

After years of successfully building and managing his own property business, Gerry FitzGerald has produced a thorough and comprehensive guide to investing wisely and profitably in residential property. Areas covered in this book include: The right properties to buy, and where to find them; the best tenants to look for, and how to find them; use an agent, or do it yourself; pros and cons of student houses; how to buy well at auction; choosing the right mortgages and bridging loans; tax and how to reduce it; and, the law and how it affects the property investor. Gerry's long and successful experience also leads him to challenge much of the accepted wisdom surrounding the buy-to-let market. He offers genuine inside information for the new investor: how to manage the risks of buying new-build and off-plan; the real meaning of the developer's 'rental guarantees' and instant 'discounts'; the realities behind the slick marketing of investor clubs; how letting agents can damage your wealth; and, avoiding the pitfalls of the bridging loan industry. This book is essential reading for the residential property investor whatever their experience.

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Product Details

  • ISBN-13: 9781845282448
  • Publisher: How To Books
  • Publication date: 2/15/2009
  • Pages: 209
  • Product dimensions: 6.00 (w) x 9.10 (h) x 0.60 (d)

Meet the Author

Gerry Fitzgerald has built a multi-million pound property portfolio which he manages himself. As a former Independent Financial Adviser he is further qualified to offer insight and guidance on the buy-to-let mortgage market. With long experience, both of using letting agents and of managing properties himself, he can speak with authority on the benefits and pitfalls of both approaches. He also runs a successful holiday letting business.

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Table of Contents

Preface xi

Part 1 The Concept

1 Supply and Demand 3

First timers 3

Late developers 3

Universities 4

Until death us do... 4

Immigration 4

Asylum seekers 5

Social housing 5

The job market 5

2 The Risks 6

Price falls 6

Price rises 7

Interest rate rises 7

Voids 8

Part 2 Finance

3 The Buy-to-Let Mortgage 11

4 The Let-to-Buy Mortgage 13

The letting 13

The buying 14

5 100% Finance? 15

6 Choosing a Lender 18

Mainstream or specialist 18

First-time buyer 18

Interest rates 19

Charges 19

Maximum mortgage 20

Drawdown facility 21

Limited company mortgages 22

Property restrictions 22

Builders' incentives 23

Adverse credit 25

7 Mortgage Products 26

8 Methods of Repayment 28

Repayment 28

Interest only 29

9 The Mortgage Broker 30

Tied, panel or whole of market 30

Regulated brokers 30

Regulated and non-regulated mortgages 31

Advised and non-advised 31

Brokers and packagers 32

Brokers' fees 33

Where to find a broker 34

What to ask 34

10 The Mortgage Process 35

Decision in principle (DIP) 35

Credit check 36

Credit score 37

Illustration 38

The application 39

Online application 39

Money laundering 40

Valuation/survey 40

The underwriting process 41

Valuer's report 41

The offer 43

Buildings insurance 44

Transfer of funds 45

11 Bridging Finance 46

Misconceptions 47

Bridging finance costs 48

Lending criteria 50

Where to find a bridging loan 51

The scams 52

The process 54

Part 3 Properties

12 Your Objective 59

Capital growth 59

Yield 61

Investment term 61

13 Student Houses 63

How to buy 63

When to buy 65

What to buy 65

Over the passage 65

HMOs 66

14 Flats andLeases 67

Leasehold and freehold 67

Lease term 68

Commonhold 69

The freehold flat 69

15 Conversions 70

Pros and cons 70

Conversions and share-of-freehold 71

16 Purpose Built 72

Service charge 72

The block 73

Ex-local authority 73

17 Auction Properties 76

The property 77

Tenants 79

The basics 80

Preparing for auction 82

At the auction 87

After the auction 88

18 New Build or Old? 89

Rental guarantees 89

Slick marketing 90

19 Buying off Plan 93

Instant discount? 93

Capital growth before completion? 95

No deposit to pay? 96

Sell before you complete? 97

Join a club? 98

Part 4 Tenants

20 Using Agents 103

Finding tenants 103

Managing 107

21 DIY 111

Preparing the property 111

Finding tenants 112

Initial contact 114

Interviews and references 115

22 What Tenants? 119

Students 120

Housing benefit tenants 123

Councils/housing associations 127

Company lets 128

Houses of multiple occupation (HMOs) 130

Tenants in place 135

23 The Tenancy Agreement 138

Assured shorthold tenancy (AST) 138

Unfair terms 140

Joint or single agreements 140

Stamp Duty on tenancy agreement 142

Latest version of agreement 142

Periodic tenancy 143

24 To-do List 144

Damage deposit 144

Bank standing order 144

Inventory 145

Utility companies and local council 146

Part 5 Legal Matters

25 Tenants' Deposits 149

Tenancy deposit schemes (TDSs) 149

TDSs: summary 156

26 Recovering Possession 159

Section 21 notice 159

Section 8 notice 161

Accelerated possession 164

27 Landlord's Obligations 166

Repairs 166

Furniture and furnishings 168

Gas safety 169

Electrical safety 171

Part 6 Tax

28 Capital Gains Tax 177

Introduction 177

6 April 2008 178

CGT and the property investor 179

29 Capital Gains Tax Manoeuvres 182

Don't sell! 182

Delay the sale 182

Joint ownership 183

Move in immediately 183

Move in later 185

Form a limited company? 185

30 Income Tax 187

Mortgage interest 187

Other mortgage costs 188

Repairs and maintenance 188

Prior to letting 189

10% wear and tear 189

Legal and professional fees 190

Services provided 190

Energy saving allowance 190

Ongoing bills 190

Other expenses 191

Rent-a-room exemption 191

Personal allowance 193

31 Income Tax Manoeuvres 195

Sole purchase 195

Switch to sole ownership 196

Buy in unequal shares 196

Useful Addresses 198

Useful Websites 201

Index 203

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