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Buy to let question.........
We have an inherited property which is mortgage free and we let it out. It is worth around 135 k and rents for £585 per month. We are thinking of buying another property to rent out. The property we have seen costs 100k and would rent for £550 per month. We would like to use some collateral from our inherited…
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housing association building
Hi, Oct 2012 i moved in to a housing association bungalow, everything was great so we said we will take the tenancy. We was about to sign the tenancy when the lady said that part of the front garden was under a pepper corn licence i have not signed any contract for a pepper corn licence and there is nothing in the tenancy…
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Advice needed please on mortgaged property
Split from partner about ten years ago, we have four children youngest 12 oldest 18, ex partner still lives in property with children and I have been paying mortgage ever since but after selling two other mortgaged properties I owned and now living in rented property myself no assets left and no longer able to afford…
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Tenant checks?
Hi guys, Can anyone tell me what checks an agency (on behalf of the landlord/estate agent) will carry out at a minimum? Thanks! Z
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If somebody wants to pay over the odds for your house ....
Hi, just wondered if this happens often and what happens... If we have had our house valued at say £250,000 but think we could actually get £270,000 so put it up at that, and someone wants to pay £270,000 for it, but the mortgage company they are going with also value it at £250,000 ...... and the buyers don't have the…
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Wrongly Accused of Fly Tipping - Help!
Hi All, I'm new to this place so please go easy on me! The situation is this: Got a letter from the council earlier this week asking me to come into the police station to have an interview under caution regarding a fly-tipping incident. In a nutshell, someone left a dismantled wardrobe and desk at the rubbish point, I left…
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Shared ownership or wait?
Im hoping someome can give me some good advise. We have recently been looking for a house, though in our area realisticaly it is very unlikely:/ Average 3 bed £250k, very little deposit, and im a discharged bankrupt (nearly 5 years). So we decided to keep on saving and let the bankruptcy go off the file. At the cost of our…
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lease prohibits any structural changes to the flat, is this normal?
Found a flat which is big enough to turn into a 2 bed but the lease is strict on what changes can be made. For e.g. it says you can't touch the structure and for non-structural changes you have to get consent from the management company. Is this standard? If I wanted to put up a stud wall and put a door in the corridor…
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Mortgages for Studio flats
Hello, I recently starting looking to buy a flat in London, and I´m interested in Studio flats. I found one, but after the valuation, the bank rejected the flat saying it was "too small". Another lender rejected it for the same reason without even doing the valuation. The flat was small indeed (17 square meters) but, flats…
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Is a repossession worth the stress?
Hello all, I am interested in a house that has just gone on the market. After viewing the pictures I could see it was a repossession, but made an appointment to view. The house has an asking price of £152,500, but I think this is a little high for the area as it is an ex shared ownership house (so bathroom and kitchen…
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Thinking of buying as an investment
I have a small amount of savings which are not gaining much interest and considering buying to rent out. With that in mind do any of you lovely people have sage words to give or what to look out for? I will do my own research but as I have no experience renting wanted to gain some insight if people don't mind so I have a…
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offer or no ?
Hello guys EA called me on Saturday, said don’t get too excited but someone’s offered xxx on your property, he said, he knows it wasn’t enough but felt there was a deal to be made, i told him our figure where we would accept, then he went down the road of saying that the proposed buyer would go back to their `offerer` to…
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Urgent - Obligation after applying for a property to rent
Hello, I have applied for a property to rent and I have paid the Estate Agent's fee for the references search. They came back and told them I was approved by the referencing agency and the landlord. Now they asked me to go and sign the contract, and pay the deposit and first month's rent on 8th June. In the meantime, I…
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Repossession public notice always mandatory?!
Hi, I was progressing with the purchase of a repossessed house earlier this month, and got gazumped a week before exchange of contracts. Through this time, a public notice was imposed on the RightMove listing. The people that are now inline have supposedly offered above the asking price, and as such the EA has said that…
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Decorating to sell
OH and I have decided to move rather than stay so as we carry on renovating and decorating we'll be doing it as cheaply as poss but without cutting corners or buying fittings etc that look cheap. Apart from Bedroom Two and Bedroom Three the finished parts of the house are decorated in various neutral shades. If they need…
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Offer tactics?
We've put an offer in this morning on a really nice house. They're asking for 225k which is about 10k above what we think the house is worth. We went in with an offer of 205k. The EA came back to us about an hour later and said that the seller is looking for offers no less than 225k (the advert wording is "offers over…
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Confused by EA
Hi, my partner and I were looking at a property to buy as a BTL for a family member to rent off of us. The house was on the market for £120k and we arranged a second viewing for this Sat. We got a phone call earlier saying that the viewing was cancelled as there was an offer on the property which was "close" to the asking…
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How is Shenfield
Hello, I asked before about he NE area of greater london and some were suggesting a number of areas including Shenfield. I went to Shenfield to view a few properties earlier and it seems to a pleasant area. But I know nothing specific about any aspect of the area and wonder whether people can give their thought about…
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Damp rental flat has led to a very high energy bill - advice needed!
My boyfriend and I moved into a flat towards the end of last year. We knew the flat had damp before we moved in but had been assured by the landlords that this would be fixed before we moved in. However, after two weeks in the property it became apparent that the landlord had just aired the flat and painted over the damp…
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Realistic cost for freeholder building insurance - 3 storey terrace ?
I've recently purchased the ground floor and freehold of a 3 storey terrace building in Harrogate. The previous freeholder was paying £810/yr for building insurance. Does this price seem realistic ? Each floor is only probably worth £140K I was expecting something in the region of £400-500 Any advice on a good company to…
