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memorandum of sale and fund release
Do solicitors need the memorandum of sale to request the funds to be released from the mortgage lender for completion? The purchase price changed slightly half way through the process but haven't received the memorandum of sale from EA for this. The lender aware of the price change through MA and amend the mortgage offer…
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Mortgage - Self Employed or Company Director
Hi all, Hoping someone can help me. I am currently self employed, turning over a fair amount of money, still just under the VAT Threshold, but if things keep going as they are that won't be the case for long. It makes financial sense to register as a Ltd company. However in 12-18 months time myself and my girlfriend are…
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Sellers wants to "contra charge"
Before I start - We have been buying a shared ownership Property since January . The exchange happens btw us buyers , vendor & housing . Instructed a solicitor which was recommended by the Housing involved . Our Mortgage took a while to be approved as most SO mortgages do . So My solicitor doesn't reply to the vendor's…
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Can I use part cash payment towards deposit?
I have had my mortgage offer through today, which is 4k short of what I need to borrow. My dad is already gifting me some money towards deposit and has provided appropriate paperwork and statements etc. He has offered to gift me the additional 4k towards the deposit. However this is from cash savings he has at home and has…
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Huge dilemma, second opinions please.
Here's what's happened. I've been fortunate that I've finally found an ok job for my field paying 20k, which gives me about 1350 PCM. Counting my lucky stars after a long period of unemployment. Now this might sound good, except here's the stinger. I've had to move to commuter belt Surrey. Which is well known for it's…
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Going Solo on a Mortgage
My partner and I are saving for a house deposit and want to use help to buy to get a mortgage in around 6 months time. My partner has an average to bad credit score but I have a really high credit score. What's the likelihood of us being accepted for a 70% mortgage (we are hoping to save a 10% deposit and then 20% equity…
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Stamp Duty - based on purchase price or true value?
I'd love clarification on whether stamp duty is paid on the price you pay or the valuation of a property? I'm buying a home from my mum and this is important to know. My broker says true value and three solicitors have said purchase price. Many thanks
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Deposit needs to be in account for 3 months. Is this common practice?
So we've just received a letter from our solicitors stating that they wont be able to accept funds nearing completion until we can prove that it has been in the account for at least 3 months. The problem is that the funds havent been there for anywhere near that time, and we are also loaning money from family. Is this…
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Mortage in one name-can partner contribute to repayments?
I am a first time buyer. I live with my partner and we are not married. I want to get a mortage in just my name as my partner has a poor credit score. My credit score is good and I can get a mortage on my wage alone. Can I get the mortage in my name and then recieve half of the mortage repayment amount from my partner? I…
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House buying Scotland - how long until missives are completed?
How many days from accepted verbal offer would the missives be signed in? Thanks
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Crowd funding btl/property partners
Hello I was just reading about crowdfunding btl on Google. Just wondering on opinions or any experience of this on here. I'm not considering this just wondered what people thought.
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Checkout fee added to my Tenancy Agreement
Hi there, One year ago I started renting a flat; the documents that I signed stated renewal fee of £42 and check-in fee of £100. Apart from that - no other fees were mentioned in the documents that I signed. A few months ago the property was sold to another landlord, and I was informed that all the terms and conditions…
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Quick question - part-exchange differential
Hello, I'm hoping someone may know the answer to this... We're looking into the possibility of PX'ing our current (first) home. The new build is on offer at £230k with a PX clause of "a maximum part exchange differential of 30%." I'm probably being a complete numpty, but what is this stipulating? That my current house…
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Contract Query
I am moving in to new student accomodation come July this year. I am just curious as to who would be liable for white goods breaking during my tenancy in the hosue. the contract states: "Have the use of all appliances provided in the Property, as listed in the inventory save those which are noted as not working. However,…
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Mortgage affordability application
H, I just wanted a bit of advice in terms of what mortgage lenders look for when they do the affordability checks - I have an arranged overdraft of £50, and I have gone into that for the last two months. Never gone beyond my limit. Will that be detrimental to my ability to get a mortgage? Thanks!
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4 Weeks between Exhange and Completion
Hi All Just ruminating on the possibility of needing the above in the future.. We could be moving 300+ miles, based on this, i would need as long as possible between exchange and completion Mainly because i couldnt/wouldnt give notice to work nor be able to book removals without the security of exchange If you were in a…
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Save for buy to let deposit or pay off current mortgage??
We have an increased income for a few years due to a job opertunity my husband has taken. We'd like this extra money to be used as well as it can be rather than just buying stuff! So, the way we see it, we can overpay our current mortgage (currently 126000 with 17 years left) to get us well on the way to paying it off…
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Upszing and renting out my current house
I am a looking to buy a new home with my partner and rent out my existing home. I do not forsee this will be a temporary measure. As HSBC customer I think they will ask me to convert to Buy to Let. However I have less than 25% equity in the property so do not think I qualify for a BTL product yet. Does anyone have any…
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Conveyancing query
My wife and I have made an offer on a house and it's been accepted. We're currently engaging a solicitor to handle our conveyancing, but I have a little query. I am selling my flat and ideally, our deposit shall be formed from the equity of that sale and our own savings. However, if the sale doesn't go through by the time…
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HomeBuyer Report timelines
Hi All Approximately how long does it take Connell's to complete and produce the report post-survey at the moment? cheers
