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Martin Lewis Blog: 'House offer accepted, now they want £20,000 more! What should I do?'
A passer-by stopped Martin in the street recently to ask his opinion on her house buying dilemma. You can check out his view in a video he posted: Martin Lewis: 'House offer accepted, now they want £20,000 more! What should I do?' What would you do? Stand your ground? Walk away? Pay the extra? Negotiate? Tell us your…
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New to the House Buying, Selling & Renting board? Start here
✅ This board is for... * Questions about buying or selling a home * Questions about renting a home * Questions about being a landlord 🚫 This board is not for.. * Debating the state of the economy * Debating house prices in general * Political debates Note: In order to help keep the Forum a useful, safe and friendly place…
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Tenancies in Eng/Wales: Guides for landlords and tenants
post 1 This thread is intended to provide information to both landlords and tenants relating to Assured Shorthold Tenancies (ASTs) in England and Wales. Updated April 2020 to include the Coronavirus Act 2020 and July 2020 to include the Electrical Safety Standards Regulations 2020. Topics covered: Post 2: Repairing…
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£84k income, £36k debt, 0% deposit – any mortgage routes left?
Hi I have been with my landlord for 12.5 years, currently paying £1,700 per month and never missed or been late paying. He has now said he wants us out before the new renters bill comes in May. I’ve been looking at my options as I am 40, I have a stable career and started a new senior role 5 months ago (with no…
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House purchase and previous owner debt letters
My daughter bought a house over 18 months ago and is now the legal owner, documents at Land registry etc However she has been getting bills in the post for the previous owner, since she took ownership she has returned each one with a "Return to Sender, no longer at this address". However the bills (Demands) keep on coming…
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New build short notice to completion
Is there any benefit to me in accepting notice to completion in 1 day or the same day? Developer is putting me under pressure to accept this (presumably so they hit their end of year sales target) but my solicitor has advised against it given that 1 day to draw down mortgage funds is ambitious just before Christmas and I…
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Order for possession money owed
Good morning. A tenant stopped paying rent. Landlord insurance company's solicitor went through Section 8 and then Section 21 and then a hearing was arranged at a county court. I went to the hearing and the tenant did not turn up. The magistrate decided in my favour. An order for possession was sent to me by the solicictor…
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Landlord leasehold about to expire - what happens to tenant?
Hi, I'm a long term tenant in a leasehold flat paying rent to a landlord who owns the lease title. The leasehold expires in a few years and the landlord is considering his options: 1) return title to freeholder but they are not interested in managing it because there is no profit in it for such a short duration. (I think…
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Would buyers solicitor pay our extra costs
Our buyer needs to complete before 11th December. We agreed on 10th. We still haven't exchanged contracts as buyers solicitor has gone on leave & not told her replacement of the date As we booked & paid for removals company, if we postpone it will be another £850. Chances of getting this paid by from buyers solicitor??????…
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Retraction
On 13 April 2010, I published a post on this forum which made reference to my experience as a tenant of Mr Sunil Dhown in a property managed by IRD Homes. I have recently been contacted by Mr Dhown, who has made it clear that the publication of both the details of my experience and my opinion of the approach taken by IRD…
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Stick or Change Estate agent
I am looking to put my property back on the market after the holidays. I am wondering whether I need to change agent. I asked as I have been with my current agent for over six months and had a handful of viewers. I spoke with my agent about how they intend to sell my property. I was nothing needs to change apart from…
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2% increase in rental income tax. Will you be passing it on to your tenant??
Ref the new 2% increase in tax on rental income. Assume this will just be passed onto the tenant via a rent increase??....Landlords, will you??
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Buying without selling home
Hi I am ready to put my home on the market in January but made the mistake of viewing a property which I love. The seller has had other viewings with people in the same position as me, house not sold yet. I am mortgage free. It could be possible for me to scrape together the cash (from savings and family) to buy without…
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Being chased for a statute-barred debt by Property Debt Collection Ltd for Moreland / MW Freeholds
Hi all Hope this is in the right part of the forum. I bought a BTL flat in Cornwall in 2009 and, along with the
other leaseholders, exercised our Right To Manage (RTM) in 2014. I have
duly continued paying the ground rent yearly to the freeholders MW
Freeholds, however their in-house management co…
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Extending a lease
Hello Everyone and Happy Christmas, Does anyone have recent experience of extending a lease in London. My flat is Ex-Local Authority in North London - 2 beds. The lease is 88 years. I was selling it but it looks like the sale has fallen through and one of the reasons sited is due to the short lease. I am thinking I should…
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Rent with no income but large savings - Renters rights laws ?
I have posted on Reddit but I thought I would try my luck here too. I dont wish to link to the reddit posts as I am not sure its allowed. Not working since last couple years. With net worth a healthy multiple of yearly expenses (including rent), you could say FIRE-d. Don't wish to drawdown my SIPP tho yet just to "show…
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Shared ownership - staircasing from 50%>80%>100%
Hello, I am looking for experiences with staircasing in two steps to reduce stamp duty. I currently own 50% of a flat in London and am planning to increase my share to 80%, then immediately staircase to 100%. I paid 0 SDLT when I completed the initial 50% purchase. As far as I understand, only the transaction that takes me…
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LL trying to raise rents again
Our LL has informed us in writing they want to raise the rents again. I can’t believe it we have just been through such an unpleasant time disagreeing about the last attempt to raise rents. they lost and are now trying again. we have told the LL we will take it tribunal if they try again to raise the rents but they won’t…
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Found property I like Estate agent wants 5000 deposit to put in an offer ???
I have sold my home completes next week and have found one I like. The estate agent will not pass my offer on unless I pay a non refundable 5000 deposit. Only refund is if survey condems house. What is this? is this a new thing? they are a fast sell/cash estate agent. Help suggestions please
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Vanquis Source of Wealth Docs
Hi My wife and I have flipped or switched fixed rate bonds for a number of years now from at least 10 different banks, building societies etc in order to get the best rates usually from advice from Martin. Usually they are over 1 or 2 years. The source of wealth originally came from pension pots and inheritance from…
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New Build flat, Completion date no keys
I am a bit confused regarding to the definition of a completion date. What I gathered is when full payment made and keys are handed over. On my completion date, no keys are handed over until 2 months later. Yet I made a full cash payment. I am getting charge for bill like service charges, electric, water and council tax…
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Selling privately, how did you handle it?
Hey all. Has anyone here sold a property privately (no estate agent)? I’m trying to understand what it’s actually like. If you’ve done it or tried and gave up. * What was the biggest pain? (time-wasters, scams, viewings, negotiation, paperwork, etc.) * Did buyers seem to trust it, or were they wary because it wasn’t via an…
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Online Conveyancing? Pros/Cons
I'm sure this has been asked many times before. So I set about googling this subject, pro's vs cons etc and havent got a clear answer. Since we are a bit fed up with our previous solicitor we are seriously considering using an online conveyancer. the lack of personal contact doesnt particularly bother us as its not that we…
