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Using Equity in property to use as a deposit on a 2nd house
I am looking for some advice on the topic in the title. Outline: I have a current house with approximately £60,000 of equity in it (valued at £160,000 mortgage of £100,000) I have found a second property that i am interested in purchasing and moving to and renting out the first property. How can i utilise the equity in the…
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Ex-partner buying me out!
sorry in advance for the repetition of this common question but I think my calculations are quite simple - it's just my expectations aren't! the property is currently rented out but there is a shortfall that we jointly make. We have the option to extend the mortgage term from 20 years to 30 years which will drop the…
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Capital Gains Tax on Building Plot
Some help please....... I sold my house in November last year and moved into a rented property while I found somewhere to live. On a whim I bought a plot of land from a property auction and have spent the last 6 months gaining new planning permission to build a cottage. Now I have the planning I am unable to find a self…
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Sending large amount of money
Just looking for advice re sending large amounts to solicitor for house purchase. I use Barclays online banking but I know there is a 10k per day limit for BACS payments. Is there a limit for a CHAPS payment too? In rented at the moment and have the cash from our house sale in various savings accounts. Need to send 64k in…
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Rental Check Out
Hi, We have our rental check out this Friday. We bought a few weeks ago. The agency we went through have not inspected the property in the 2 years we have lived there. When the landlord/agency let us have a dog they changed the contract to state that we needed to have the carpets cleaned professionally, which will happen…
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Payy off chunk of mortgage or buy another?
I have a question to pose. I own a property with a remaining 130k mortgage to pay off. In august I will go to a variable rate mortgage and will at this time be elligible to pay an interest / penalty free cash payment ont he mortgage. The property is currently rented out (on an ex-pat but to let mortgage) and basically the…
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Why do some tenants give renters a bad name!
Hi, just really to vent a little here, I read some stories on here and through general word of mouth about horror stories of how some tenants leave landlord's properties in a state or do a moonlight flit owing thousands, but we're not all like that, they give tenants a bad name. In my situation, I have now rented the same…
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Cheadle Hulme, Manchester.
Hi, My partner and I are moving to Manchester for work. We are searching for property in Didsbury, Cheadle, Cheadle Hulme, and Wilmslow areas. We have found and viewed a property we both really like in Cheadle Hulme. It's on the housing estate off Ladybridge road (the main road is called Twining Brook Road). I've heard it…
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landlord woe's
Hi folks have a little problem here and was wondering if anyone could give me some advice.... I purchased my old council house sometime ago and was renting it back to the coucil so they could use it as homeless accomodation..... everything was going swimminly till recently..... The problems first started when i got a phone…
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Cleaning before leaving
so how much did you clean your house when you last moved? Being a second time buyer I have never sold a house before - do you just give surfaces a quick wipe down and a vac of the floors or would you be more thorough? I dont plan going as far as when I left a rented flat as we scrubbed that top to bottom to make sure we…
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mis-selling by letting agent
Hi, I was wondering if anybody had any views / advice on our particular problem. I'm a small landlord / buy to let for about 10 years. Back in April 2011 we decided to move letting agent to a more local company. We were between tenants and free to do so. The office manager (we liked her professionalism) said that they had…
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Mortgage on recently inherited property
In a few days time I will inherit a property for which I already have an interested buyer. However, when they asked about a mortgage from their bank, they were told because the house hasn't been owned for more than 6 months they were not able to offer a mortgage on it. The Law Society have a list of warning signs covering…
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first time home owner error...
Hi, this is my first ever post! Me and my partner graduated from university a year ago and have just bought our first home. I was desperate to move out of our local city so we bought a two bedroom flat in a nice little village near by. When I went to view the flat I fell in love with it straight away, but when I picked up…
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Damp in rented flat - tenant's fault?
I rent a flat with a damp problem. When I moved in I took pictures of the massive damp patches around the windows and on one corner of the ceiling, and made the LA aware of this. We later painted over these spots with anti-damp paint, which has worked really well, there's no mould in those areas now. Our bathroom then…
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renting my home to the council
I've heard it is possible to rent a house to the council. Any advise/comments? Thanks!
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First Time Rent
Hi, I am looking to rent my first flat and am looking for some advise on something. I am employed full time, however i am on long term sick, (since May 2011). I have found somewhere that i am interested in and would like to get the ball rolling. However, i am concerned about the Credit check/references as I am not at work…
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Advice wanted on house price reduction
This is my first post on here and would appreciate any advice or suggestions please. Have had my house on the market for one year with 7 viewings. 5 viewers have loved house but cannot make offers due to not selling their own (Scottish system). The Surveyor for the Home Report placed its value as £140,000 so the estate…
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House Sale Conveyancing
I am have received an offer on my late Mum's house it has no mortgage and I have the deeds here. I am legal executor so far so good I would like to do the Conveyancing myself. I have more years ago then I care to remember done this but wonder if everything has changed. I mentioned it to the Estate Agent and they said you…
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Getting a survey done
Hi there, I have had an offer accepted on the house I want to buy and I have accepted an offer on my flat. My buyer is just choosing a solicitor and then it's all systems go.:j My question is what happens about me getting a survey? Will my mortgage company do one and charge me for it, or do I find a surveyor myself? If so,…
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Estate agents 'demanding' I leave bedroom furniture
I am currently renting a flat which is on the market. There have been very few viewers (2 in 5 months) and according to the EA a offer of asking price has just been received with the proviso that the bedroom furniture is included (and a bathroom cabinet but that is of little consequence!) The EA (affiliated with my LA to…
