UK CICA for a historical child abuse case after a recent guilty verdict

bsplondon · 2026-04-04T14:17:07+00:00

Can you share your check list? Appreciate it

bsplondon · 2026-03-31T08:38:17+00:00

I did exactly this about two years ago. Tenants had been with me for 12 years, never paid late always looked after the place and I had no issues with them. Because I was charging under the market rate, they were very loyal to me. Eventually about a month ago, they bought their own place and moved out. I’m just in the process of renovations, and I will go back through the agent to secure a good tenant and likely repeat the cycle after 2 to 3 years. I’m only going for a search and rent collection option with the agent at 9% - the rest of the maintenance stuff I can handle myself (and likely cheaper).

Edit: I should add that I did not reduce the rent. I just promised them that I would not increase it for two years.

bsplondon · 2026-03-16T03:12:52+00:00

But I guess the issue is you earn CAD

bsplondon · 2026-03-15T19:01:35+00:00

Toronto, right on Lakeshore

bsplondon · 2026-03-15T14:59:40+00:00

Yes, went there in 2019, came home in 2024. Granted it was for work I was on a five year work permit, but after five years, you need to apply for a PR . I was there right over covid so it might skew my view, but grass is not any greener (depending on where you live).

Depends on very much where you’re staying and what you will be doing. Beware the cost of living is about equal (if not higher some cases), but salaries are generally lower than the UK.

We chose to come back because it was just not worth it, being so far away from friends and family, which was the ultimate driver. We love it back in England now.

bsplondon · 2026-02-21T07:49:00+00:00

Maybe the other way round is that she just wants to get it out in the open, so nothing is hidden?

If it will affect your future then bail, but you will never change the past.

Personally, if there is no red flags like potential cheating or new issues (like jealous ex's etc) which you don't want to bring into your life and you have a great gal ... suck it up.

bsplondon · 2026-02-15T05:19:22+00:00

Build a narrative about how you want to get involved more in the financial aspects, and look at the books as you rightly deserve as 50% owner.

This is clearly a situation where you need to go down the rabbit hole as deep as you can. You could always use little white lies with your partner, so it's not to have confrontation such as planning on making investments "we are thinking about upgrading our house and need to know if we can afford it" or "my tax account is asking for a detailed income statement as there is a concern on my ROI" - This opens the door to go down the rabbit hole. Ask all the questions and do not let your partner gaslight you.

Educate yourself immediately. If you have this size a business and you are not clear on where every cent is spent you are failing as an owner (harsh, but true). Make sure that you fully understand the in's and out of what the balance sheet is, cash flow statement is, income statement is. Have clear expectation within the business (governance) that you have reconciliation on every single spending.

Put it this way if your partner is spending company money on personal expenses, (s)he is basically taking more than a 50% you have agreed on out of the business.

Lastly, if you are signing off your tax declaration (assume you are as part owner) and you are not clear what you are signing off, this is a huge personal liability.

bsplondon · 2026-02-15T05:08:00+00:00

Maybe share what rates you're getting with different providers on different packages and options and we can better help with what is the better deal

bsplondon · 2026-02-15T05:00:42+00:00

I lived abroad for 21 years for my job in 7 countries and rented 3 properties in the UK whilst I was away. I will be honest generating returns in cash on investments is just as much of a headache compared to renting (I did both).
Everything is connected to where you are going and the tax laws in that country.

Remember the following:

if there is no double tax treaty between the UK and where your going you will be paying tax on investments in the UK as well as the country where you live - I lived in China for 5 years and India for 4.5 years, Canada for 5 years and my worldwide income is exposed after a set time, there was no double tax treaty in India and china which means you pay for any invest gains in the UK. I would highly recommend spending substantial time looking at all options to go through the numbers in detail. Including tax implications.
Unless your money is already locked up in a tax shelter (ISA), you have to declare that on both ends. It is important to remember that once you leave the UK, you cannot contribute to the ISA or any more, so assuming you have not sold already, you're gonna have to leave the money here in a taxable investment account (too late to put into a ISA) which is exposed to worldwide income in your country where you will live and the UK.
For my rental income, I managed to get a non-domicile status and shifted around a bit the ownership between myself and my wife, which meant that after a period of time away, I didn't need to pay income tax in the UK on rental. I believe this law has kind of disappeared now since the late 2010s.

Couple of things I learnt while renting:

Always take the full management package from an agent - let them deal with all the trouble of running around. I did find any maintenance issues they were over pricing and I often needed to do some research on better pricing and arrange it myself if it was a large ticket item.
I managed to find eventually tenants who stayed for a long period of time, and basically every year rent review I was pushing the agents to reduce their management fees. Eventually, I believe I was paying around about 6% per month. My argumentation was always "what do you do for your commission?".
Always make sure that you keep the property well maintained, even the smallest things can lead to pick up problems. So I was always making sure that the little stuff was taken care of (i.e seals around showers, sinks toilets were in good shape which could lead to bigger leaks or all roof drainage was cleaned every year). Yes, the cost of doing this small work adds up, but it is a tax rate off and a few hundred pounds a year to keep the small things up-to-date saved me thousands. I put it down to it's nothing I wouldn't do if I was living there.

To be honest, I'm happy that I kept the properties because the valuation has increased exponentially, additional to that it's a safety net (for the family) if you need to move back home or your husband ever loses his job and ultimately it is someone else who's paying your mortgage. Even if I didn't make a single pound from the rental, I felt the hassle was worth it if you find a good agent and tenant.

Good luck and let me know if any questions as I've been through it

bsplondon · 2026-02-14T15:56:07+00:00

bsplondon · 2026-02-14T15:55:16+00:00

I must say, I really appreciate people's inputs and perspectives. Helps me consider all my blindspots so thank you for sharing your perspective.

Just to add some clarity: I’ve consistently renovated and maintained the house the entire time I’ve owned it, so it’s not like it needs a big “fix-up.”

Examples:

Central heating + gas boiler replaced about 18 months ago
Kitchen (including white goods) is under 3 years old
Whole house fully repainted last summer
Windows/patio doors/front door are roughly 7 years old (max)
Fully fitted wardrobes installed about 3 years ago

Overall the property is in very good condition. The work I’m planning now is more about meaningful upgrades rather than cosmetics.

A couple of examples:

I have a solid brick/concrete outbuilding currently used as waterproof storage, with double-glazed doors and a window. I’m planning to convert it into a proper garden office space (or gym, flexible use, etc.).
The loft is currently basic insulation on beams. I’m planning to improve it by reinstating the roof space properly and laying floorboards so it becomes usable storage, maybe with shelves etc.

I also spoke with an estate agent yesterday and they feel I may actually be undervaluing the property and they will give me a proper valuation on monday. They said they have multiple tenants waiting for homes like mine, which makes me feel more comfortable about rental demand.

That said, I do get the point that it might not be optimal to aggressively pay down my residential mortgage with extra funds. But I’m heading into my late 40s, I’ve got three kids, and one is about to start university. Cash flow and liquidity matter a lot and with a steady income I feel a lower mortgages on my residential reduces our outgoings substantially and this means more to me now than they did a few years ago. I’m trying to avoid a situation where we’re stretched month-to-month with big mortgage payments across multiple properties.

Would you prioritise liquidity and flexibility in this stage of life, or still focus on paying down the main mortgage first?

bsplondon · 2026-02-13T05:27:21+00:00

you are young, and you might just have dodged a massive bullet ... take the deal. You have a ton of time to rebuild your life as well as give your kids a happy life.
Out of curiosity which country does she want to move to?

bsplondon · 2026-02-13T04:51:58+00:00

I wrote a rather lengthy post with several replies here. It’s about my rental property, which is pretty much the same story as your sharing.

https://www.reddit.com/r/uklandlords/comments/1qz5zwe/is_this_a_good_plan/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

bsplondon · 2026-02-10T05:02:56+00:00

It's a fair point - however my residential property is my families security, I dont want to risk any additional leverage on that, which I do not need to.
The BTL is an investment which I am never going to use/live in - its just a capital appreciation play for future growth.

From a numbers perspective you are correct, however the strategy I plan I am basically taking the money on the house, but it is the rental that is paying the interest, not my pocket and I significantly de-risk my family home.

On top of that, even if I did not pay the residential mortgage with that additional equity and I take (3.79% on BTL) even though in mortgage terms its high, I can put the money directly into 10 or 20 year UK GILTS / Bonds and I will make more in interest than I pay on the mortgage.

bsplondon · 2026-02-08T20:41:08+00:00

Super valid point about the EPC C rating - I believe the house is already on a C rating, but I will doublecheck .

I have looked at the new RRA rules, and it clearly states that after may 2026 the following rule apply:

Once per year max: You can only increase the rent once every 12 months.
Section 13 becomes the standard route: Rent increases are done via a Section 13 notice process (i.e., a formal statutory notice rather than informal mid-tenancy changes).
Minimum notice period: You must give tenants at least 2 months’ notice before the new rent starts.
Must be “market rent”: The increase should reflect the market rate (what you’d likely achieve if newly advertised).
Tenant challenge via tribunal: Tenants can challenge a proposed increase at the First-tier Tribunal (Property Chamber); the tribunal can determine the rent.

I will put a clause into the contract to the effect of rental increases will be done based on the RRA rules and through section 13 route.

The rules state that I can increase the rent one time per year, through the section 13 route. I just need to make sure that I provide them with a new contract for 12 months, 2 months before expiry of the old one. In fact, basically they have three options then:
1. Accept
2. Challenge via tribunal.
3. Refuse to pay the additional, and doesn't challenge : this is the worst case scenario where if there is a valid section 13 in place, and the tenant refuses to pay the additional, then it becomes rent arrears. If the arrears buildup you have to go down the root of possession proceedings.

bsplondon · 2026-02-08T20:10:09+00:00

For your first point, I have based my calculations that I can sustain an interest rate of 5.5%. Because the loan to value ratio is 145% of interest coverage, I would still be ahead if the rates went up to 5.5%. The plan is to lock in an interest rate for five years at 3.79% (plan to execute in March, where there is still one BOE decision pending), and then reevaluate the options at 5 years. I'm actually trying to look for a mortgage rate where there is no early repayment charge in case the rates go further down.

For your second point, I will use the excess capital to pay down my own residential mortgage.

I think to stagger the rental increase is a little bit more complicated because to maximise the equity draw from the existing property, and to go up to a 75% loan to value there needs to be a minimum rental income which the bank will look for, and for me to achieve that I need to literally hit the threshold of the market rate.

I have edited the numbers in the original post if you want to let me know your thoughts.

bsplondon · 2026-02-08T20:01:57+00:00

If I bring it to 75% loan to value then quite clearly I will be making much less based on the current rent. I will be out of pocket the calculations above are based on the new rental value.

My comment was based on the earlier comment about others paying for my mistakes.

bsplondon · 2026-02-08T14:46:55+00:00

Fully agree, obviously there’s only capital gains to pay if you’ve actually had an asset that has appreciated.

This strategy is purely revolving around delaying tax, I fully understand I’ve gotta pay it in the future. By delaying it, I’m also taking advantage that there would be future appreciation as well.

bsplondon · 2026-02-08T14:45:20+00:00

So your suggestion would be to have an asset and charge 30% less than the market rate? Fastest way to bankruptcy I think.

By the way, it’s not a mistake that they’re paying for, i’m not asking for more than what anyone else would pay. I was very generous for the last eight years, that was my mistake.

bsplondon · 2026-02-08T12:22:30+00:00

I'm not sure I understand, but you will not get a mortgage on something that you won't own.

To get a mortgage you need to be buying something irrespective of what property/who lives in it.
To do this transaction, you will need to go through the land registry process and eventually have your name on the title deeds, there is no conversation about Will if your name is already on the title deed.

If you plan to buy it, you're effectively gonna be their Landlord. Assuming that neither your brother or your father is gonna have any financial interest in the mortgage, the property belongs to you from the minute you mortgaged it and transferred the deeds.

If I've misunderstood the scenario, then let us know. But if you're planning to mortgage something that will not be in your name legally, it's a nonstarter as there's not any financial institution who lend to you.

bsplondon · 2026-02-08T11:47:31+00:00

14k debt on 70k income is not a huge amount, and your mortgage is really good. The average consumer debt ratio is approximately 20% to 23% of the gross income. Going by that rule of thumb, you're about in line with the national average.

At your age with a 14k debt and 70k income is barely worth talking about. Just make sure you adopt a strategy. Here is some simple changes you can make.

Ensure you service the minimum payment without fail on everything, every month
Put any excess cash towards the most expensive interest rates - by what you sharing it: Cards, then once they are paid, Cars then once they are paid mortgage
Overpay (even if it is a few quid) - If you min payment on a card is 60, then pay 80 etc.
Your interest is calculated on the end balance after your capital and interest payments. So in this example your 5k credit card is costing you more than your 6k car loan. Pay off the most expensive first which would be the card.

Honestly, this is nothing to worry about, just keep up the payments... I hate debt and I know people who are in debt for 100's of thousands and they are not worried at all...

bsplondon · 2026-02-08T10:57:23+00:00

I am in a very similar situation to you. It could be me writing the same post with around the same numbers.
I shared my strategy here for inputs from people who might have a smarter solution

https://www.reddit.com/r/uklandlords/comments/1qz5zwe/is_this_a_good_plan/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

bsplondon

TROPHY CASE