Checklists

Checklist provided by 

www.chasedevere.co.uk

Why we work with Chase de Vere

To understand the value of your wealth now, you need to collate:

• All your property accounts, original price paid for the property, dates if any were your main residence

• Costs you incurred purchasing/selling and any home improvement costs not claimed from income

• Legal information about properties you own e.g. Joint Tenancy or Tenants in Common

• All insurance policies, pension information, trust documents, other assets you own

• Find out your entitlement to any state benefits including the state pension

Once you have the information above, you can calculate:

• Your total assets e.g. net equity from properties if sold today, savings, investments

• Your gross income from rented properties

• Your pension pots and estimated annual income

Calculate annual rent increases at the same level they have been for the last 2-3 years (this may be zero)

If there has been some growth, then multiply the rental income by the number of years you have until retirement

Assume a worst case and best case scenario:

• Worst case = no capital or rental growth
• Best case = property performs as well as it has in the past

Net the likely income based on taking 2% annual inflation into account and tax you may have to pay.

Make sure all your calculations are net of tax.

Ideally find a ‘property investor friendly’ Independent financial adviser to help you calculate the income and assets you will own in retirement.

Ask the adviser what costs you will incur and what level of advice and service you’ll get in return.

Prepare a brief for the adviser which includes:

• When you want to retire

• How much net income you will need on a monthly basis

• How much money you like to hold in cash

• If you want to sell your property portfolio and re-invest the cash or hold and take the rental income

• Whether you want to pass on any wealth to family/children/friends

Your first meeting with the independent financial adviser should be free of charge.

Ask the adviser to identify the gap in income/assets you have and how they can protect your money from future inflation, investment risk or tax changes.