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Help with capital gains!
Hello all! I'll try to keep this simple... Parents own a property with a barn. Barn conversion started, one parent dies. Daughter aquires a small mortgage to complete and is named on the deeds. Capital gains on selling? What about the transfer of the property to her?? Any help much appreciated
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Costs of Moving into FTB home
We have got our date sorted for the completion on our first ever owned house. I realise I coan ask my solicitor this on Monday morning but what should I be expecting to pay out on the completion of everything. Deposit and solicitor fees are the obvious ones plus 1 month mortgage? Anything else?
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trying to sell the flat
The flat has been on the property market for 3years, had a few offers but my partner turned them down.Now he has realised that he needs to sell the flat leaving him with no profit just so we can move on. Our solicitor who we used through a recent auction said we need to sell the property for £53,500 to break even.The…
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Buying an auction property before the auction
Good afternoon all, Wondered if anyone could provide a some information on buying an auction property before the auction. If an offer is put in and accepted prior to the auction, would this go through as a regular property transaction? Or do you still have to comlete withing 28 days have a 10% deposit upfront etc? Cant…
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Property Management
We're very close to exchanging contracts on the sale of our freehold property. The house is on a supposedly private estate, and we employ a property management company. We pay our management block and estate charges 6 monthly in advance. In order to get a release from the management company our solicitor has been told we…
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Am I a FTB who does not have to pay stamp duty? Advice, please.
Hello again :) I’ve been looking at the rules re. stamp duty and first time buyers. It’s my understanding that if you’ve not owned, part-owned or inherited a house previously, then you don’t have to pay stamp duty on houses £125-250k. But what about if you’ve part-inherited, selling the property on? I can’t seem to find…
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Turned down at the last minute!
I appreciate this is to be posted in the Mortage section, but I'm hopeful that by placing my post in this section also, I may get more response. Thanks for any help. Can anyone help??? We sold our house a couple of months ago and bought (stc) about 4 weeks ago. Our current mortgage lender is Chelsea and for the last 2…
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Rented flat being repossessed
Hello, I know there are a few threads on this subject and I'm sure a few of you are saying 'not another one', but I'm hoping someone may be able to give me some pointers. The flat that we've rented since March 2010 is being repossessed as the landlord hasn't made any mortgage payments for 9 months and of course it turns…
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Selling a self build barn conversion
Hello all, Complicated problem. I'll try to keep it simple. Main house and old barn owned by parents. Barn conversion started. One parent dies. Barn completed. Daughter on deeds of barn and has a small mortgage on it. Capital gains on the profit of the sale????? And what about the transfer of the barn to the daughter?????…
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How long can a Holding Fee hold a rental property for?
Hello all, I'm about to rent on my own for the first time - have so far lived in shared private houses / as a lodger... I'm starting to look around at properties but just wondered what the maximum space of time might be between putting down a holding fee on somewhere, and having to pay the first month's rent / deposit &…
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Concrete construction properties
What's the deal with concrete construction properties? From what I gather : It can be harder to get a mortgage on one of these. If a bank does lend, the criteria is usually tighter than usual. There are periods when banks will be less likely to lend, and there are periods when they are more willing to lend. If the property…
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Urgent: Need advice with extremely rare and frustrating situation
Recently my landlord decided to sell the flat that i was renting for 7 years, and gave me 2 months notice. I found a new one bedroom that was just in the right location for a reasonable rent. Now, today, not 10 days after I signed a lease the lady at the letting agency called me, very apologetically to explain that my NEW…
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crazy neighbours
someone please give me some advice! since our hellish neighbours moved in (mother, father, 3 toddlers a baby and 2 staffordshire bulls) we have had nothing but trouble. we are house owners and have had to suffer the goings on from them for nearly 2 years. i have spoken to the council, the c.a.b, the councillor, the police,…
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Protecting prepaid rent - how can you do this ?
Say you could obtain a significant discount on rent prepaid for 1, 2 or even 3 years, just what could you do to protect yourself ? The landlord is in good standing with no mortgage and from every angle, no need ever to need one. However, is there anything which could be done to protect either the cash (if the property was…
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Is this normal? (Scotland)
We are looking at a house that we quite like, and it has a Home Report Mortgage Valuation Report value of X, and the property is being marketed at "offers over" that exact price - as I understand it, the banks wont lend on any value higher than the MVR, so if we offer more than X, we'll have to make up the difference in…
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Valuation on New Build 12k Under
Hi all, I'm looking for some advice please! We are buying a new build property. Original price £299,750, negotiated down to £277,750. However, we have just learned that HSBC's surveyor has valued the property 12k under at £265,000. We are part exchanging our house (at 10k under our asking price) and have paid about £800 as…
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Scotland - End Rental Term Early - Please Help
We initially signed a 6 month rental contract and then in January 2011 signed a 12 month contract - which we requested as we thought we wouldn't be moving any time soon. Money has come together and the house which we'd noticed was for sale in this estate a year ago just shed 10k off it's asking price so we made a move and…
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solicitor
hi We are buying a two bedroom flat for £93000 and have 25% deposit, looking for a solicitor - we have been given a quote for £1200 - is it a reasonable price? Thank you for your opinion and help
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"Best & Final offer" process (new to me)
I had a second viewing on a property today that i'm really interested in, - and have made what I consider to be a fair offer. The EA has told me that someone else has also put in an offer, of which the vendor is considering, - I told the EA what I was considering offering, and the EA told me that that is higher than what…
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student houses and hmo regulations?
Hi if anyone knowledgable could help me here it would be appreciated. Does anyone know about hmo's? In particular how they apply to student houses. I know it depends on amount of people, number of floors and number of different 'households'/families within the property. So say scenario one; four students in a two storey…
