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FTB Help
Hi I have been looking at the steps to buying a home for the first time and have come across it saying that on exchange day, I have to pay a deposit to the solicitor, 5-10% of house value. Is this an extra fee I have to pay or does it come from the mortgage company? Thanks Adam
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first time buying.. advice needed
My dads planning on selling or renting his house and im struggling to get a deposit to get my own home, i want to buy my dads house off him and he doesnt mind this. he has around 40% of the value left to pay, and would be willing to lend me the deposit to buy it off him. but dont no how to do it? or is it possible to…
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Advice needed regards home survey
Hi folks First post on MSE, so please be gentle! My wife and I have just put an offer in on a period property which was built around 1840. We've just paid a little over £300 for the 'basic' survey and have received the following: Matters Affecting Value "The property is in an acceptable condition for lending purposes. My…
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Lie to EA or come clean?
Basically the Post Office turned down our mortgage application. (i've got both Equifax and Experian printouts for both Partner and myself, and last defaults were in 2004, so note sure why they turned us down, the letter is not very clear or helpful) So we went to an independant whole of market mortgage advisor in town who…
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Mis-sold a property, do I sue the solicitor?
Hi all, I think I have a biggie to sort in 2011 so just trying to get a handle on it now... We downsized to a 3 bed ex-local auth house 5 mths ago, coming from a shared driveway situation we strongly wanted to avoid that again. We were sold this property on the basis that the driveway by the side of the house belonged to…
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Landlord demanding 4 months of rent in advance
Hey I'm a student currently living in a house on 12 month contract where I have been asked to pay (up until now) in 3 month blocks as per the contract. For the next period of 4 months I've been asked to pay all of them by tomorrow (as per the contract as well). As a student I don't the ability to shell out this much cash…
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insurer says they'll only insure from completion not exchange
I phoned the aa for home insurance yesterday and they said they only insure from completion as it's not a legal requirement to insure from exchange. I understand there's a requirement to insure from the exchange date since you are legally contracting to purchase the house. Presumably I could get around this by just…
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Taking a mortgage repayment break?
My friend is divorced and lives alone. She has recently been flattened by flu as she has COPD too, and had to take nearly 3 weeks off work. She's worried sick about her next mortgage payment as she doesn't get paid for absence from work. I remember seeing somewhere that most mortgage providers will allow a mortgage…
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Decleration of Trust Between Me And My Landlord - Help!
I currently rent a property that the landlord is desperate to sell. Just to give you a bit of background... This property was for sale for £270k for over a year and didn't sell. The owner decided to rent it out and we decided to move as it was a better area, we currently rent our property out. We have been there 12 months…
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To sell or to rent?
Hi All, Advice needed please. We plan on moving to a larger house next year our current house is 80% paid off. Do we sell our current house and use all the money for the new house? Or Do we rent the current house to help us pay the mortgage on the new house? Which is best in the long run and how do I calculate my options.…
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Should we get an accountant?
Hi we are newbies as landlords. Just bought a flat and rented it out within 13 days of getting the keys to a lovely tenant. My husband and I work part time - semi retired. We have kept all receipts for things bought - a new kitchen, decorator etc. My question is, should we get an accountant for when the tax year ends? We…
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Renting out our property to rent another one
We've lived in our house for the past 4.5 yrs when it was first built. It's a 3 bed three storey end terrace. We are a family of 5, our eldest being a girl of 11, middle a boy age 8 and youngest a girl of 5. We had always planned that when the time came for them all to have their own bedroom we would convert the integral…
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FTB how much to offer?
Dear all I have been lurking on the boards for over two years now, I'm looking for some advice please, any help would be much appreciated. My partner and I are FTB's in the South East, we have been approved by the underwriters for a mortgage with Clydesdale. Our budget is £250K, we cannot go higher than this due to the…
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Freehold/leasehold
Hi Im looking to buy a house and never even thought of this before I looked on here but what are the imications of buying one or the other and can you fond this out from the EA or does it come up further down the line in surveys?
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planning
Hi not sure this is the right place for this but... I own a old church which I converted into a house, it has a 1.5 acer field. If I fence of a section on the field for a garden. Can I put a static caravan away from the house in the field, it's about 35 meters away from the house or would it have to be located right next…
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advice desperately needed - im clueless
hi there i was wondering if i could ask you kind folks for some advice as i feel totally out of my depth and confused. please no-one attack me for being so useless with mortgage/house related things tho :( me and my husband currently own a house in scotland - we have owned it for just over 2 years but only lived in it for…
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hopefully some advice? re: mum's landlord not paying mortgage!
i'll try and be brief, my parents sold their home nearly 3 years ago to a landlord and are renting it back off his company, however it turns out that the landlord hasn't been paying the mortgage at least since july (he turned up at the house each month for the rent in cash), my mum had a letter from the building society…
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95% mortgages?
My husband and I are hoping to start saving for a deposit on a house in the new year but with house prices as they are we need about £20k for a 10% deposit with a little spare for fees and as we can only really save about £1000 per month this is going to take nearly 2 years :( My mother in law recently said she'd heard…
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Equity amount
We're planning on moving home and will be increasing our mortage (with the same bank) - is the amount of equity the difference between what we sell our property for and the outstanding balance? i.e. if we needed a 25% deposit for the new property we could use this equity and then only need to find the balance? Thanks
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What should we do?
Hey Bit of advice needed as we have a meeting with our EA tommorrow. Our house is for sale at £109'950. Which is a good price for our area as they are on between £120'000 - £90'000 for very run down houses. Our situation is changing drastically from the end of Feb and we are leaving to move 1.5 hours drive away. This is…
