@Donna *****

Yep, that’s all I had at the time.

@Donna *****

I went to IO and asked for it, said I needed it to open a bank account.

@Fred *************

Understand, was just pointing out I got a residence certificate on a tourist visa.

I got one in a TV to open a bank account, cost 500 bht.

@George’s *********************

Yeah, need a good property accountant to determine that move for it to max benefit.

@Todd ********

Coop bank Regular Saver account. The downside is, you are only allowed to put in £250 pm max for 12 months. Go to MoneySavingExpert.com, lists all short term high interest accounts.

@George’s *********************

With that £750 rent pm you need to factor in 20% - 30% for agency fees, voids and maintenance. Annually you will need to pay self assessment tax on any earnings above the annual allowance of £12,500 if there is additional income generated outside of this rental.

True figure is around £525 - £600 p/m before any tax owed, if any.

Also, buying for cash is not the most profitable way to purchase a property. Using the £200k for deposits and refurbishments to then leverage 6 months later via a BTL mortgage can allow multiple purchases and therefore higher rental income. This way that £200k can be turned into £3k to £5k pm if done properly.

@Andy ********

Hi Andy, agreed. I get between 4 - 5% fixed term and 7% short term with limited deposits.

You got anything interesting you can point me to?

@Stuart ********

Yeah got it. Thanks for the help.

@Stuart ********

Thank for the detailed reply and back-up plan. My initial thinking was… if I was to use the monthly income method for my second application, why would I need to keep any of the 800k in the bank once my first application was granted. Ok, the agreement says I have to keep it for 3 months after the extension approval. But why does it need to be there after the 3 months. 1. It shouldn’t affect my second application as it doesn’t rely on the 800k being in the bank. 2. There will be 65k transferred every month starting 2 months before the issue of the first extension.