Quote from: simon w on July 14, 2025, 06:20:00 pm

Quote from: AuRavelling79 on July 14, 2025, 04:16:17 pm

Quote from: simon w on July 14, 2025, 08:36:39 am

I've got a Team Meeting with Lloyds financial advisor this afternoon, will stop work at 1pm and take the meeting sat in my van 

This is to discuss my monthly rental incomes which I don't spend/withdraw making very little interest in the account I set up for my tenants to pay into. I'm looking to just keep their deposits in this account with the monthly rent payments going into something that earns far better interest, I reckon they'll suggest some ISA but we'll wait and see.

Do you completely self manage your property portfolio or do you use an agent for anything?

Not really much to manage once everything is in place. I use Maggs and Allen to find the tennants and Star Legal for a tenancy contract which is five years, until today the rent hasn't been earning a great deal of interest, but I had an hour team meeting with a Lloyds finance advisor today and happy that this income will now be working better for me, I don't ever draw on it so it's a long term nest egg for my old age, I'm a long way off retirement age atm so want that investment to grow without too much risk.

I hope your tenancy agreement’s are better than the ones used in Scotland. I lost a lot of money last year to a rogue tenant and getting them evicted was a lengthy process. Once they were evicted I sold the property. I have 1 more property rental and if and when the tenant leaves, that one will be sold too. Landlords don’t have enough rights here!

The properties are commercial/retail and that's why I spent a lot initially using a well known letting agent to select the tenants and solicitors who specialise in drawing up a contract thats fair and legal for both parties (tennants use their own solicitor) There was huge interest in the properties as they are in a good part of town with plenty of footfall , I was able to cherry pick who I wanted and took my time choosing them. So far so good. 

On the advice of the finance advisor today I've opened four new savings accounts and distributed different amounts into each account which will earn more interest than what I was doing previously. I'll leave it alone now and review it in a year or so .

Remember the guy's on here who were convinced we'd get lynched for working during lockdown  maybe it'll be the same for cleaning windows during a hosepipe ban, probably get mobbed and our vans set a light 

I was working at 9am the very next day after Boris made 'that speech'.....never affected me at all.😄👍

Quote from: KS Cleaning on July 13, 2025, 10:30:05 pm

Quote from: dazmond on July 13, 2025, 02:40:29 pm

I keep as little as possible in my First Direct main bank (that customers pay into)around £1000-£1500 as no interest is paid but no charges either. Just enough to cover my normal bills,direct debits,etc then transfer the rest into my ISA easy access account. It was close to 5% interest but has gone down to around 4.5% now but it's still OK. I also deposit £300 a month into first direct saver account(7% interest) for 12 months every year for money towards holidays...

All my tax/NI money is in my ISA ready to transfer when I have to.

Is this 7% interest saver account still available for new customers?

It's available to all first direct current account customers. Only problem is that £300 per month is the maximum you can deposit but it's still handy.

Ah right, thought there must be a catch somewhere! I’ve just sold my Porsche Macan so I have a tidy sum to invest….. I better hurry up before I squander it😆

I've got a Team Meeting with Lloyds financial advisor this afternoon, will stop work at 1pm and take the meeting sat in my van 

This is to discuss my monthly rental incomes which I don't spend/withdraw making very little interest in the account I set up for my tenants to pay into. I'm looking to just keep their deposits in this account with the monthly rent payments going into something that earns far better interest, I reckon they'll suggest some ISA but we'll wait and see.

Do you completely self manage your property portfolio or do you use an agent for anything?

Remember the guy's on here who were convinced we'd get lynched for working during lockdown  maybe it'll be the same for cleaning windows during a hosepipe ban, probably get mobbed and our vans set a light