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Reducing Tax on Rented Property via Home Owner Loan
Hi all, I currently rent out a property with the permission of my lender under the standard mortgage terms (not BTL). I also have a very low LTV. I earn a small profit, but now looking at the best way to offset this. I know the house needs a number of minor repairs, which I've put off for a while, but see this is a good…
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House purchase not to plan.
A bit of an oh dear and buyers blindness? Parents have just moved the first move in many many years, they thought they found the ideal property and bought it, sold their after a few niggles etc. A few days before the moving date they visited and were shocked to find that they were no longer the tidy clean family they…
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Transfer small share of property to partner (unmarried) for tax efficient btl income
Hi there, I hope somebody can help as I'm dizzy from googling. We plan to let our current property out early next year when we move. The property is currently in my name but as a higher rate tax payer I would prefer the income to go to my partner. I understand we can allocate income as we see fit if she has a share of the…
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Party Wall dilemna
My wife and I are planning a loft conversion and we are attempting to get party wall agreements in place with our neighbours. On one side, the neighbour is about to put the house up for sale. We served them the party wall notice a few weeks ago and they have appointed their own surveyor. As the sale of their house may go…
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Estate Agents, fees and valuations
Hi, We're selling our home and have had 3 estate agents supply valuations. One of them over valued (in my opinion) at 250K. Another under valued (again IMO) at 225K, and the third said 240K. I think the third seemed about right on the money, if about 5K on the high side. She didn't give me any of the *&$£ that the other…
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Freeholder Building Work Issue
Hi, some advice please, we purchased a ground floor flat with garden (part of a 2 storey conversion of a Victorian Terrace) - the freeholder happens to be the local council. We wanted to do some renovation work that involved removing internal walls. We applied for landlord consent (with associated structural calculations…
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Morden / Worcester Park One Bed New Build
Hi All, I am thinking of putting an offer in for a one bed new build in the Worcester Park / Morden area (North of Cheam) around 10-15 mins by bus to the tube station. I have around 40k deposit and the price I would be looking to pay is around 225k so would have around 18% LTV. I earn 35k so my take home pay is around 2k a…
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Minimising Costs Until Chain Completes
Hi all I've had a search on the forum and can't find anything directly the same as this but do point me in the right direction if something already exists… When we offered on a house (which was accepted) we thought the sellers were moving into a chain free property, we are FTB, and it all seemed happy days. It now seems…
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Self Conveyancing as a Buyer - Apparent FREE ID1 Catch 22 - SO YOU MUST PAY?
Hi everyone Thought this would be simple - probably the least complicated house purchase possible. We want to buy the house next door to our current home (retaining it - so not selling), that we've owned and lived in for 38 years. So we know everything about it, the area etc. and decided we could manage without any…
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Tenant has lied and not paid the rent
My sister has rented out her home and the tenant who has been there for 7 months of a 1 year tenancy has not paid the rent at the beginning of October . She rang him to ask why and he said there was a family emergency and had to leave the country to go back to Africa but would be back at the end of October. He said he…
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Do I have to give my solicitor a copy of our survey?
Got a load of paperwork through, our solicitors are requesting a copy of our valuation report and survey. I don't mind giving them the valuation report, but I fail to see why they need to see the survey? Is this a common practice? The valuation was approved and both that and our survey mentioned a few issues and advised a…
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Earlier checkout
I am just after some general advice (the issue is probably more "moral", than "legal" - but I know I will get opinions from both viewpoints here!). We had a 2 year fixed term lease in England which expired 31 October. We bought a new place, so we were entirely unsure when we were going to move out, but knew it would be…
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Dilemma
Just wondering what people would do in my situation. I have just started working in London. I love the job and can see me working here a long time. My commute and time commuting is a pain so I need to think of a solution. I get up at 6am and am in work for 8am, I leave work at 4pm and get home at 5.30pm. I pay £4000 per…
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Carpet colour for letting
I've got 3 colours to choose from. http://i.imgur.com/EsMvfus.jpg - Grey - Brown [STRIKE]- Blue[/STRIKE] - Beige (not shown) Does anyone have any advice regarding carpet colour for a letting? Is brown too 80's? Is grey too cold? Is beige going to get stained easily?
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Decision On My Offer
Ok I viewed a home on Friday and decided it was the one for me, after viewing I contacted the EA and I submitted my offer. Approx 45 mins later the EA came back to me to say the company who owns the home (repossession) has had a higher offer from else where, this is possible as it is listed with another EA. So I upped my…
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Buying from Trustee of Bankrupt - Help
Hi All, Looking for a bit of guidance I am a FTB in London. I found a property through EA in Jul and offer was accepted at 95% of asking price. The price was already discounted due to the property being sold by trustees of bankrupt. The trustees originally wanted to complete on the 21st August. That date has come and gone.…
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Neighbour built above dpc
Hi, Just rereading an official damp report done on the house. The damp surveyor at the time said that the level of damp was slight and it wouldn't cause any issues if the cause wasn't rectified for a year or more, however, now I re-read it it states "The dampness is due to lateral damp penetration from raised ground levels…
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How many people at once for a viewing?
We are almost at the end of our tenancy. Under the terms of our tenancy agreement, we must allow the Lettings Agent to show prospective tenants around. No problem there. Although we believe that we're entitled to at least 24 hours notice. But the lettings Agent keeps springing these appointments on us with much less…
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Buying a house
Hello, I am looking to sell my current home, and move house to a new area. Being a first time buyer things were pretty simple for me, find a house, get a mortgage, exchange contracts, move in. This time round I am not sure of the order I need to do things? I have fallen in love with a house, I have an application in…
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New Live In Landlord
Hi, I want some advice. I am a living on my own in a 3bed house, and thinking of letting out two of my spare rooms. I will charge £100 a week for one room and £50 a week for the other. This totals £7,800 a year and goes over the £4,250 tax free allowance specified by HMRC. My question is, what can I do with the tax system…
