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Desperate help with rent and mortgage
My partner and I have been renting for the last three year and have been paying over £900 a month. We have just signed a 12 month tenancy in July. He wants to sell and has offered us first refusal and given us a really good price. We have been unable to a save a deposit and my parents have offered to buy the property as a…
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Sold As Seen: What Does It Mean?
Some listings, eg those below, state that the property is 'sold as seen'. http://www.propertynews.com/Property/Carrickfergus/1189RR200708893/47-Sunnylands-Avenue/291412049/ http://www.propertynews.com/Property/Larne/MBS670945/2-Drumnahoe-Manor/291412049/ Surely all houses are 'sold as seen', so why put this in the listing?…
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Trying to get a mortgage on a house that has previously been repossessed
Hello everyone, Was just wondering if anyone could provide information on the process they have gone through when buying a property that has previously been repossessed. Even though I had an offer in principle, as soon as that lender heard that there was a 21 day limit on the exchange of contracts, they flat out refused to…
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Stuff your vendor left in the house you bought
Im sure people found some interesting (and useless) things left by the vendors when they got the keys to their new house. Mine wasn't very interesting but wondering what cool things other people found in their new house (like treasure maps)! In the loft I found Magnetic Dart board and darts set Large Box full of 40+ random…
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Help To Buy Problem
My daughter and partner have exchanged contracts on a house using a Help To Buy equity loan based on their joint income. Unfortunately he has decided to end the relationship just before completion. My daughter earns £13000 per annum with about £6000 commission. I've been on mortgage calculator websites and it would seem 4…
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URGENT - lender at bottom of chain refusing more than 2/3 between ex & completion?
Hi, Just wondered whether anyone has come across this. We are trying to agree a completion date, and are being told that the lender at the bottom of chain (don't know who this is) - will only confirm release of funds 3 days before completion. We are therefore getting told we can only have 3 days between exchange and…
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Got mortgage offer and searches done, what next?
Hi Good luck to all those waiting to complete/exchange I am a FTB and have just had my mortgage offer come in finally after much delay (4 months!) I have also had the searches done and everything looks ok apart from 2 points on the lenders valuation 1) check the through lounge conversion (wall being removed) has relevant…
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1st purchase negotiations - boiler service?
Hi, We are currently in the process of buying our first property. The Homebuyer's survey is being done next week. On initial viewing of the property it transpired that the house has been vacant for quite some time (possibly a year). I asked if the boiler had been serviced recently and the vendors confirmed that the boiler…
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What to have in order before placing an offer
Hi, I have £19,500 in total of which; * £4,500 personal savings * £15,000 family gift has to be split between costs (estimated £2500) and mortgage deposit. Been looking at properties between £125,000 and £160,000 so potentially £16,000 required for deposit at 90% LTV leaving plenty for costs. Combined pre-tax income of…
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About to exchange, just found out building control haven't signed off the extension
We have had an absolute nightmare with our house purchase, it's already been 3 months and neither side has a chain. There has been delays at every hurdle and today when we were finally poised to transfer our deposit and fees, we have just found out that the vendor didn't get the large extension to the kitchen, which…
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Failed environmental survey - Should i buy it?
Help, I am a first time buyer so really worried. I placed an offer on a property which backs onto a field. After the local and environmental searches were complete they revealed the field used to be an old sand/clay quarry years ago. Once the quarry closed the land was infilled. My intended property purchuse is within 25m…
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Advice on rental property repairs... Please :)
Hi everyone, Not too sure if I'm posting in the correct place, so apologies in advance if not. Also, apologies that this may turn out to be a bit of a long one :-/ My husband and I have been renting a property through an estate agents since July 2011. In December 2011, we noticed that the storage heater in the living room…
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Really confused about CGT
I owned a property from 2005 to Oct 2013, lived in it 2005-08 and rented it out 2008-13. Sold it Oct 13 after it had been vacant for 4 months. It was the only property I own (I was and am living in my partner's house, which I have no financial or legal stake in). I presumed this made the property my 'main home' and…
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Landlord Insurance
Good morning, I am hoping you guys and gals out there can help us. We are soon to be new Landlords and will be using a full managed service from a firm of Estate agents. We have been told we need landlord building insurance and I hope someone can give me some advice on who to use ? What to ask for ? etc. Many thanks in…
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Surveys and Checks
Hi all, This thread will probably sound a bit dense but I am a first time buyer and I am not sure how surveys/checks work. If I like a property and put an offer in pending surveys/checks, what does it mean exactly? Say I said £100K pending surveys/checks. If the surveyor finds £10K worth of needs to be done, would it mean…
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What are the pitfalls of buying a house with a relative?
Hi, I wonder if anyone can offer advice or info on the following. I have sold my house stc, and am buying a property with my widowed mother, with the intention that she will have someone to look after her in her dotage and we can afford something detached and in a village. I am an only child. We are cash buyers and she is…
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Waiting for our our buyers to get their mortgage offer...
Hi there, We are in the process of buying a house and selling our flat. We have no upper chain and our buyers are first time buyers. We have applied for a mortgage with Natwest and we had our valuation done on Weds 17th Sept and received a text message on Thursday 18th Sept to say that our house was valued at the price we…
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Rent in Advance question – to protect, or not?
Picture the scene – property to let, tenant are first timerenters, on benefits, and have only £200 upon moving in. As they are going to receive local housing allowance, therent will be paid in arrears as soon as the claim is handled and processed. Does the £200 they have need protecting as rent in advance? Over to you!
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Mortgages for Property Development
I am using a broker from mortgages for business.co.uk to help find funds for a small property development project. I am looking to expand my business to undertake this type of work and for me this is the first project I have identified. From an initial conversation the broker has offered a loan of 80% of the property value…
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Who Has The Legal Right To Sell House
If a house is owned 50/50 by a trust and the person who occupies the house (tenants in common), on the death of the occupier, who has the legal right to sell the house? Does the trust have the sole right to sell or can the relatives of the deceased gain probate and sell it? Thanks RG
