I'm here from Nisha Advice. I thought I'll talk to you about limited company on vitalets versus buying individual names. I've seen all sorts of people that are not actually mortgage brokers online on YouTube doing videos on mortgages and how easy they are to get and how you can buy one property, get it mortgaged and then refinance to buy another property and so forth and build it portfolio. That's all great and there are people doing that and there are lots of strategies around that. But I'm going to tell you how it really works for a mortgage perspective when you are trying to do some of these things. First of all, to general rule is if you want to be a landlord you need to be a homeowner. There are a few lenders out there that will allow first-time buyers to become landlords. But the way they work is as if you were buying it as a residential property. So can you afford that property on your income multiple or on your affordability? So if you're on £20,000 a year can you afford to buy that property for £300,000? No, they will not allow you to do that. So there are a few lenders that will lend the first-time buyers. Generally only on a personal name, so not in a limited company name because limited company products are generally focused or positioned to people that have got properties that have got property experience or by-tlet experience. But you don't always have to, but certainly you need to be a homeowner. So that's one way. Then you get to a people that have got maybe one residential home and they want to buy, they come to us and say, well, we want to buy them in a limited company or we want to buy in our own name. So the first question, the first question that I'd ask my clients is, have you spoken to a tax advisor about your financial position? Because that's vital. That's the most important thing. When you're talking about these, when you're looking at whether I should buy a limited company or whether I should buy a monthly injury, you need to speak right at the start to a tax advisor. Because the tax advisor knows your situation, knows your income, knows what your plans are, knows whether you're looking after a conversation, whether you're looking to expand that portfolio, you're looking to buy a 4, 5, 6, 7, 8, 9, 10, or you're just looking to buy one by-tlet. So that will determine. And a lot of people try to buy passes and come to brokers and brokers will start offering them products, oh, this is a great product. That's a great product. That's the wrong way to go about things. You need to speak to a tax advisor and not an accountant. Funny enough, I said not an accountant. I'm not talking about the guy that does your books for your business. Because they may not necessarily not know about property tax. There may be an accountant, there may be, there may be able to do your books. But really, what you want is someone who has got expertise within property tax. And that's important. So once you've spoken to a tax advisor, you've got an idea of whether you buy a limited company or within your own name. Now, there's really a couple of things when you're looking at things. Generally, mortgages that are in personal names, the cheaper, the price better, they're more competitive. Because let's just say if there's a hundred lenders out there in regards to personal names, there's probably only about 25 out there. There are more, it's increasing for 25 out there with limited company. And that's an example. It's not the actual numbers. I'm sure there are more. But you'll just get more choice. There are more choice out there if you're buying in personal name. The pricing's are typically very good. And the biggest differentiator between limited company products and buying in individual names is not necessarily around the pricing. The rates are yes, they're a little bit higher with limited company. But it's the fees. What you will find a majority of the limited company lenders will charge a percentage fee or high fees where your average buy to let mortgage lenders in your personal names are similar to a residential mortgage. So your 999 or 1,495 or 1,999, that's probably the max if you're buying in individual names. But there are all sorts of reasons why you would buy one or the other. So another example, the difference between that is generally if you're buying in your personal names, the rental calculation are not as good because of the tax changes or the perceived tax changes. So the lenders that will lend are a lot more conservative for rental calculation. So it's okay when you're buying properties around 150,000 pounds because rental calculations generally stack up. However, when you start buying properties at 455,607,700 and over, rental calculation is king. That's where your trying to sort of navigate to. So you know, the old rules of, oh, just give me 75% low to value and I'll put my 25% deposit down, may or may not work now. So it's important rental calculation is taken to account. And really, that's where a conversation between a broker comes into place because there are all sorts of rules. So for example, if you own more than four properties, you'll perceive to be a portfolio landlord. What that means is, maybe lenders will stress test your background portfolio. So you know, that strategy we talked about, oh yeah, buy the property, refinance it and then pull the money out and buy another property. Great, but what happens when you do four or more because there are lenders that will stress test that portfolio. And it's going to be performing within that stress test lenders portfolio. So if you're heavily geared, and again, you've got high maybe property values and you're highly geared on your portfolio, that will have an impact on your future strategy. Okay, now, so you've got to be in a mind, you can't max things out all the time because what you're doing is you're trying to buy a property for the future. Okay, and what that means in the future, there's going to be bumps across the road, you could be, you could be the property, maybe empty, you may need access to capital. And what you need is a strategy, which is going to be flexible for you. So no point getting maxed out and you can't remount with your four years time or five years time or two years time because then you're going to have a problem. So it's understanding your profile and speaking to an advisor who's got expertise in this manner. So I'm seeing a lot of people because of the way rental calculations work go down a five year route, five year fix please because I can get what I want. Well, yes, there may be better cheaper products out that want to five year fix, but how about five year fix that has a three year tie-in. So yes, you're tied, you get a five year fix, you can work out your rental calculation based on five years, but you can get out of it within three. So if you need access to capital, why not, if you've got, if you're buying a couple of properties, why not put one of them on that type of product? There are also products on a individual in personal next basis. There's a brilliant product out there by Godiva, which is part of commentary, brilliant product and that that has a five year fixed with no early repayment charges, which is unheard of. It's great. So you have a five year bight-illet fix, you can get out of it whenever you want, wonderful product. There are some pitfalls to that product. So I'll give you an example, that product specifically, you can't dec consolidate. So if it's a remover, you can have decals consolidate. And generally the rental calculations are not as good as another lenders five year fix, so there are some little gems out there that brokers will know and will be able to use. What you'll get is there's a lot of choice and a lot of variety of how different lenders view different things. And it changes all the time. I may talk to you about a product now, and it will be gone or there'll be a new way of working on things. So you've constantly got to keep in touch with your broker, pick a good broker and stay with them. And that's the moral of story. I mean, I hate the fact that a lot of brokers, you know, a lot of clients, what they do is they'll, they've got a broker, a broker's offered them something and they go, oh well, well, let me just find out if another broker can do it for a hundred pounds less. That's not the hyper client I want to deal with. That's not looking at the big, bigger picture. And when I do get that, I said, look, you know what, you've got your broker. And that guys helped you along the way. Unless they've offered them the wrong thing, or it's been an absolute nightmare. But if you're just trying to get a 50 quid cheaper than that's not that's not where we are. We want to work with clients, we want to grow their portfolio, sure we'll make some money on the way, but we do it in the right way. And I think that's that's that's the moral of the story is look, get advice. Certainly from a tax perspective, get broker advice, speak to me, speak to lots of other people, find out what's the best strategy. And don't be fooled by headline rates. Don't be fooled by, you know, 1.99 rate. Okay, what's the fee on that? What's the rental calculation on that? How does that work? How are how how many years am I tied in? I don't want to be tied in 5% for five years early repayment charge. I may want to have five, four, three, two, one. So again, if there is a if there is a problem, I can get out of it. What's the remote with strategy? Do they, if it's a dodgy property? So I'll give an example, if it's a converted office block, a lot of lenders don't like to lend on them. Okay? All right, so if I stay, if I've put you with a lender, do they have a retention policy whereby you can just switch your product? You don't have to remogage again because, you know what, that probably that that probably is a bit of a pain and I don't really, a lot of lenders will not do it. So let's go over the lender that we know will do it and has that has a retention policy. So in two years time, when my rate runs out, I don't have to go cap in hand and find other lenders for you. So all of those things have a bearing and I hope you found this useful because it is really, really important. You seek advice and you speak to the right people and don't be fooled by lots of adverts out there telling you you can become a millionaire by just refinancing things and doing things the same way. You can in some instances and in the right strategies, but then you always have to speak to the experts as well. Speak to the tax advisor, speak to them which broke up, speak to a lender if you have to because speak to a solicitor, that's important. Speak to all those guys and formulate your own strategy by seeking advice, speak to the gurus and speak to the fructy millionaires. That's fine, but also do your own research as well. Thank you so much.