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Negative equity - is bankruptcy my best option?
Hi I own a small studio apartment in an area of the UK that suffers from a bad reputation and a fairly high level of deprivation. I bought it in 2006 for 70k. The estate agents tell me its value is now 35k. I owe approximately £60k on the mortgage as I purchased with a high LTV. I moved from the apartment a few years ago…
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Would I pay Capital Gains Tax
Hi, i was left £20,000 in a will with the balance of a small cottage to go to me as well once sold. At that point, the cottage would have had to be sold to pay the legacies out but the solicitor was taking lots of fees and helping himself to the funds of the small estate which was left for petty things but which were…
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Scottish government Letting Fees
I have heard on the grapevine that the Scottish Government have deemed that letting agents reference holding and admin fees are unlawfull. Does anyone know if this is true and how or when we can claim this money back? Cheers
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Renegotiating price after valuation
Hello all. I need advice on my purchase of a leasehold flat. I had an offer accepted on a repossessed flat for 450k which was also the asking price. I outbid one other in a sealed bids process. The vendor is the appointed receiver for a company that owns the freehold for the block of eleven flats. My solicitor is in the…
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help!!! how long does this whole process take to exchange
hi everyone i have a dilemma, we sold our house 14th july 2012 and bought a house on the same day. We then had a letter through to confirm these sales dated 18th july 2012. anyway cut this story short we are all ready to exchange apart from the bottom chain ( there is 4 of us in a chain 4. first time buyer 3. buyer buying…
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Something of a rant
No questions here, just wanted to have a bit of a vent... September 2011 - put flat on market through housing association (shared ownership); over next 3 months, 4 buyers pull out before 5th one sticks December 2011 - view property, love it, make offer, offer accepted February 2012 - vendors have offer accepted on…
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Buying council house (mortgage advise needed)
Hi all. I have put in the rtb on our council house. I have been told that we are entitled to around 40% off market value. So the question I have is if the house was valued at say 100k less the 40% brings it to 60k, would I be able to get a mortgage for say 70k so we have some money for improvements. We are first time…
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Dilemma - Councill built Vs private built
Hey everyone, I’m in the process of buying my first house with my partner. We are firsttime buyers and are looking for a chain free house. So, here is my dilemma. There are now many council built properties thathave been sold off with there tenants buying them for very little. Once theycome to sell, what is there property…
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why do some people own more than one property?
Just something I've been thinking about, everyone needs a roof over their head and I would have thought most people would prefer to own than rent. So, for someone that owns a property with a lot of equity or savings, why do they decide to buy another one, instead of just paying off their existing mortgage then putting any…
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Ground Rent Arrears Letter....is it Fair?
Hi All, I own a two-bed flat of which the ground rent is payable to Forte Freehold. They sent out a rent DEMAND in june forthe period 1st september - 28th Feb. I realised yesterday that I had not paid it and hadnt received any reminders so paid it by bank transfer. This went through as an instant payment. Today I received…
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Mortgage offer valid for 6 weeks only
posting on behalf of a friend, many thanks for any advice: The vendor of the the house that my friend & her partner (F&P) wish to buy has been particularly flaky/ignorant/stupid throughout their house buying process. F&P have made arrangements to sign the exchange document this Thursday & have now been advised that the…
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Ending Tenancy Early - normal re-list fees??
I want to end my tenancy early. The agency that I'm paying my rent to states that I need to pay £780 including vat to re-list the property. They called this the 'agreed landlord's re-list fee'. We realised that we would have to pay a fee and also the rent as usual until a new tenant is found but £780 seems pretty steep…
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HomeBuyer Report - 3's...
Good afternoon all, Just looking for a bit of friendly advice. I've just recieved the HomeBuyers Report for a property that we're in the process of buying, but it comes back with several 3's. 1) The first is for Damp on the walls, as there were high moisture readings. My question is that if I have a specialist come and…
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Key broken in lock..who pays landlord or tennant?
Hi All, The key to my front door snapped in the lock the other day. I can access my house through the back door so it's not an immediate problem and have informed the LA about it. They are sending out a locksmith today who has said that if he can get the snapped key out it'll cost £45 +vat, or if a new barrell is needed…
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Letting agent recommendations? Greater Manchester Area
Hi, We're approaching a number of letting agents with a view to using one for full management. It's a bit of a minefield and they all sell themselves well! I just wondered if anyone had any experience/advice to offer in deciding which agent to use? Also, has anyone had any good/bad experiences of online agents? Thanks in…
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Renting after selling a property
Apologies if this is a really obvious question but it's been around 15 years since I last rented somewhere. We're selling our flat and hopefully will be exchanging contracts in the next couple of weeks. The vendor of the house we were buying pulled out last week so we've decided to rent for a few months so we don't loose…
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Tenants not in for pre-arranged viewing
Hi Guys, just a bit of advice if you will please. I am in Australia for work, I have a house in the UK. I am contributing quite a bit to pay for the mortgage even with having tenants in. The tenants have given notice to leave in approx 3 weeks now (they did give the full notice so no problems there) so I have put it up for…
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My offer has been accepted horray
I have just had an offer accepted on a flat in West Thamesmead hooray and now need a solicitor (I now realise after reading other post that I should have got that first). It seems like a mindfield out there. Does anyone have any good recommendations or anyone who has been fleeced by them or been really slow? My broker and…
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Moving to a new area.
Hi all. After some advice and experiences. We are hoping to move and relocate next year. Due to many factors we only have around 6 weeks to find somewhere and move. Not easy when we don't live in the area. Our main problem is we will be renting and ideally would need to view the properties. Whilst we can do a short stay…
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should we take the risk?
Hi All, I am after some advice please. Myself and my husband are looking to buy a house (we are in rented at the moment) we have £24000 deposit and are looking at a house where we would offer approx 158000. We earn just under £60000 between us so looking at the info I have just given I am sure you would all say go for it.…
