So for our December update, I have postponed my visit to Wigan and to complete the handover as we have had AOV (Automated Opening Vent) issues. We have need a new AOV to replace the current skylight as the AOV is part of our fire safety equipment. We have now found a solution to install the AOV by leaving the current skylight in it's current position and this avoids having to access the space externally.
I hope to have the handover completed at the end of November along with the EPC and SAP, so that the architect can submit this with his documents to building control. We also hope to have the 5 flats on the rental market at the start of December.
As a company we have decided to pay down our mortgages so that the rental income can be left in the business account to build up, and once we have sufficient funds we can purchase our next project in cash. We have made this decision based on the current uncertain mortgage market and base rate fluctuations. For more information please see my blog . This should protect our property portfolio and what we have built since 2017 and once the future seems clearer we can start to potential use borrowed money again.
