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Second property for rental - What are my mortgage options?
I currently own a flat (in which I live) and I'd like to buy a second property for the sole purpose of renting it out. I've carried out some initial research into Buy To Let mortgages and it will be a while before I can save enough to put down a 25% deposit. What are my options if I'd like to buy the property now? Could I…
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Buying freehold from the council - how to approach other leaseholder?
I live in a Victorian conversion with two flats in the building. The local council is the freeholder. I'm considering approaching the other leaseholder about buying the freehold, but as he rents out the other flat, I've never met him. Does anyone have any advice as to what to say to him in my "pitch"? Also, as there are…
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How much can I borrow?
Hi all, I'm trying to save a deposit for a buy to let. I'm aiming for £25k. But my income is only £15k so I'm concerned that regardless of the size of my downpayment will be irrelevant as the bank will only lend me s small amount/ nothing based on my salary. Can anyone make this clearer for me please? Thanks
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Help - I want to keep my house
I have a predicament and am asking if there is anyone out there can help me. I have house with a mortgage which is in arrears, not by much and have been to court and been saved from repossession. House in joint names but husband walked out 2 years ago and not paid a penny towards mortgage since. I am paying £506.62 per…
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Encouraged not to sell
Had an estate agent out today, and all he did was encourage not to sell. We want to move, are in the current house too long, and really need a fresh start. We'd like to move as well due to a family member's health.No other agent we had out did that so why did this one? It's his own family run business.
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Help to Buy Scheme
Just seen on the barratts website that there is a help to buy scheme funded by the government, 4% deposit needed, and 20% of the value of the property given by the government. Therefore I would have to get a 76% mortgage from a mortgage lender. Is this a good scheme, or are there pitfalls in the scheme. The barratts…
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Selling house - note through door
Has anyone sold a house to a buyer who approached them with a note through the door. This is a little soon, but I have had a note through the door from an interested family (as I'm sure others have in the road), but have been considering selling for some time. I've not sold before, so wonder what the pitfalls of selling…
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Need urgent advice regarding Tenancy/Landlord/Agent
Joined here for some advice. We moved into a property 10 days ago, we had an incident within 5 days of moving in, we were fuming and logged the incident with the police although no action is being taken but its still on record. We received a text from the agent a few days ago stating that the landlord was willing to let us…
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FTB - Flat, Multiple flats sold on same day...
Hi, I'm a FTB, offer accepted on a flat in a small well kept block of 24. Searches etc have come back and a few things are setting alarm bells off. 1. Land register shows my flat having been sold in 2010 for 73k. This is in the south east where a lock up garage would cost more than that. All other flats in block have sold…
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House Value
I bought my house a couple of years ago. The home report value for the house was £140,000, I bought the house for £127,500. I've been told a house is only worth what people are prepared to pay for it, which makes sence. I'm at the stage of getting a new mortgage, and If I were to get the house valued again would the valuer…
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Leasehold flat lease extension offer, is this a good deal or not?
We have 59 years on our lease, we want to extend by 40 years so its a 99 year lease. We have been offered a new 99 year lease by the freeholders for £7950. Plus freeholders legal fees and also freeholders surveyor fees which is £600. And then our legal fees whatever that is. And would be a higher ground rent, which would…
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what costs are involved with buying house at auction...
im considering bidding on a house at an auction in about 1 months time if bought it would be a cash purchase from money i have from selling another property and savings, no mortgage required theres the auctioneers fee which i know and obviously things like insurance after house is bought would it be foolish to not use a…
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Is house leasing a good idea or not ?
We do not have enough deposit for a house we like and the large reputable estate agents is working with the builders and offers a house leasing scheme. Ideally we could afford the deposit in 3 years and they said we can lease until 3, 5, 10 years its up to us. We havnt had a meeting with them yet, we will do so next week…
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2-bed converted to 3-bed - does it warrant price increase?
We're still on the lookout for a 3-bedroom end-of-terrace / semi in the South East. Our 2-bedroom flat has been on for 6 weeks now and we've had lots of viewings but only one offer so far, and quite a low one at that, from a buy-to-let investor who wants to move quickly. We'd seen a 3-bedroom house up for £249,950 which…
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Selling Property in Scotland
Does anyone have any experience of using property brokers in Scotland, as opposed to an Estate Agent, and what was your experience??? Any help appreciated
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estate agent stole my deposit
Hi all, Hope you can help I finished a tenancy in 2009, where the estate agent said that he would return the deposit to myself even saying a cheque had been paid in etc But to this day i have received nothing. I took him to court, (he didnt attend) where he was liable to 3 times the amount due to not putting the deposit in…
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What can I do to push things along?
I'm in to week 10 of my house selling/ buying ordeal, my solicitor said yesterday that it was all pretty wrapped up apart from a couple of outstanding enquiries. I am going away in two weeks and she said it is doable to complete before I go I text my buyer this and he just said he would call his solicitor for an update ( I…
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prrof of funds
I've just been told by my solicitor that for the proof of funds that are being used for the house deposit they require: 1) statement showing where my savings have been for the last 3 months 2) signed letters off the two giftors confirming they don't require the money back, my solicitor is not looking after their interests,…
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Exchange and deposit to solicitor
Looks like I'm finally looking to exchange on our first property soon with a 90% LTV on a £250,000 house. I've known about the typical 10% deposit you have to pay to solicitors on exchange but a little confused on how this works with the mortgage deposit which I've gathered is treated separate to this. Do I have to provide…
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Did solicitor miss this - any recourse?
Hi there, first time poster, be gentle! We bought our current house 2 years ago which had a pre-existing exterior paint finish which we were a bit concerned about. The previous owner provided our solicitor with a guarantee, which allayed our fears. I have subsequently investigated this since it needed attention, and it…
