Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track
Buying to let pre-supposes that there is a tenant willing to rent the premises and provide the cash flow, which will service the borrowing and is only one of the factors, which need to be taken into account before entering into a commitment. These can be summarised under three main headings. The Property It has been said that the three most important matters to take into account when buying property are location, location and location and this maxim holds just as true for investment property,
- It should be situate in an area where tenants are looking to rent
- It should be attractive to tenants and be, for example, an apartment, penthouse or a period or modern house. Listed buildings or converted churches may have their appeal but it is to a narrower market
- It should be in, or brought into, good condition.
- It should be in an area where property is in demand, making a resale easier in the future.
- Income tax, which is payable on rents. Loan interest and the costs of repairs and maintenance are deductible
- Capital gains tax, which is not payable by a non- resident on the sale of a property held only as an investment and not as part of a trade or business.
- Inheritance tax, which is charged at 40% on the amount by which the aggregate value of chargeable assets exceeds a threshold, currently £263,000.
- Eliminate completely any liability to inheritance tax
- If each property is held within a separate company, avoid the risk that on a future sale the proceeds will be treated and taxed as trading income.
- Forming the company in a suitable location
- Acting as Directors and Secretary
- Maintaining the Registers and filing the returns required by law
- Keeping the accounting records and preparing annual financial statements
- Filing the tax returns
- Liasing with solicitors, property managers etc. as required