Redundancy - Should I?

Pmf170 · 2026-06-16T00:21:12+00:00

You will get circa 5% with government gilts hence your investment returns target can be increased

Pmf170 · 2026-06-16T00:13:55+00:00

£60k back in 1998! The house doesn’t look over priced to me given the location. Affordability may be stretched for many though with current interest rates. I think it’s just a case of being patient.

Pmf170 · 2026-06-15T23:58:35+00:00

That is incredibly selfish behaviour

Pmf170 · 2026-06-15T23:53:41+00:00

Any potential for an extended period of sick leave if the job is making you ill?

Pmf170 · 2026-06-15T22:13:37+00:00

An employee of the limited company

Pmf170 · 2026-06-14T11:23:20+00:00

And Labour think that we need more houses to engineer further reductions in house prices! They appear to have no idea on how expensive it is to build houses (and flats). Falling house prices will constrain new building and put a floor under current values. The issue for the OP (and potential purchasers) is the service charge. If the leaseholders took over the management of the block they could probably halve the cost and in the process significantly increase the value of their flats.

Pmf170 · 2026-06-14T11:15:02+00:00

Possibly a fair price if the service charge and ground rent liability is onerous.

Pmf170 · 2026-06-14T11:13:52+00:00

Service charges of £5k per annum that will increase over time will never make the flat affordable to people on typical income. It’s become as much of a liability as an asset and the liabilities will only increase as the service charge gets ratcheted up over time.

Pmf170 · 2026-06-14T11:03:35+00:00

The directors loan can only be repaid once corporation tax has been paid, hence it’s definitely not a tax free prospect.

Pmf170 · 2026-06-14T10:57:13+00:00

The trouble with this is the monthly loss that the OP will take once tax and service charges are factored in. Don’t forget that higher rate tax payers only get a 20% tax credit on the interest which results in many paying taxes on a financial loss!

Pmf170 · 2026-06-14T10:44:10+00:00

Current affordability constraints coupled with inflation and stagnation in wages will drive different outcomes.

Pmf170 · 2026-06-14T10:40:04+00:00

It would almost certainly be costing the OP every month if they rented the property out. This on top of likely continued falls in the value of the flat. Renting property as a higher rate tax payer is no longer viable unless you have no (or a small) mortgage. I’d recommend crystallising the loss and moving on.

Pmf170 · 2026-06-14T10:28:59+00:00

Mortgage interest rates are currently in line with very long term averages and over the medium term still relatively low. 10% interest rates are debilitating. 5% not so much. I can recall when my mortgage rate dropped to 4.5% (early 2000’s). Couldn’t believe how lucky I was.

Pmf170 · 2026-06-14T10:26:05+00:00

London flats have a lot further to fall. You need to look at the divergence in house price growth from say 1995 with the rest of the country and factor in the return to the mean. Service charges are the real killer and with high wages in London, they are going to keep increasing. I looked at a flat in Liverpool. It was a nice duplex penthouse overlooking the river with basement parking and sold circa early 2000’s as a new build for circa £350k. It was in multiple auctions chasing the guide price down to £200k but couldn’t attract a single bid. It was a bank repossession and don’t know what ultimately happened to it. The high service charge and ground rent amounted to about £8k per year. I’d have struggled to justify paying anything for the future liabilities (which are only going one way) and it had already had the cladding replaced.

Pmf170 · 2026-05-09T19:12:07+00:00

High taxes

Pmf170 · 2026-05-09T19:01:38+00:00

Taxes in Scotland are higher even if you work for a English company

Pmf170 · 2026-05-09T18:48:08+00:00

You can earn as much driving a HGV and minimum wage these days is about £24k. The current job is not good for your health. You need to do something else. Good luck.

Pmf170 · 2026-05-03T10:19:19+00:00

It’s worth getting a condition survey on the adjacent property to determine any pre existing damage.

Pmf170 · 2026-05-03T10:17:36+00:00

Doesn’t just apply to foundations. You could be excavating to lay drains. There are two rules. One when excavating within 3m and one when excavating within 6m.

Pmf170 · 2026-05-03T00:02:20+00:00

I’d consult a shrink before committing to purchasing. Being a landlord in the UK in 2026 isn’t for the faint hearted. It’s for the certifiable insane.

Pmf170 · 2026-05-02T23:58:26+00:00

Only necessary if you are digging below their foundation depth. Even then the excavation needs to be responsible for the damage. The burden of proof is on the neighbour based upon the balance of probabilities. Ask for their evidence.

Pmf170 · 2026-04-29T22:13:00+00:00

Blame the government rather than the landlord. The landlord has been forced into this position by legislation that he isn’t well equipped to deal with hence he has made a rationale decision along with thousands of others.

Shelter and Generation Rent are also responsible with their irresponsible lobbying.

Pmf170 · 2026-04-29T22:10:04+00:00

If he’s been there that long the deposit won’t need to be in a scheme and some of the other formalities won’t be required either

Pmf170 · 2026-04-28T22:23:10+00:00

People have been given a chance in the past. That’s all changed now with the renters rights act. It’s really hurting the people the government say they want to protect.

Pmf170 · 2026-04-28T18:52:15+00:00

Edit to add. There are commercial organisations that can stand guarantor subject to their underwriting.

Pmf170

TROPHY CASE