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estate agent contracts
Couple of questions about whether these are standard terms they all use, and/or can be varied (or try a different agent): commission beomes due when buyer exchanges contracts (though payment can be deferred by agreement till Completion). What if buyer fails to Complete? Surely the seller does not have to pay the commision?…
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problems after collected keys to house
Hi all, Was trying to find a thread that describes my situation but wasn't able to and that's why making a new one. Story is. I've collected the keys to my new house on Friday and found out that: 1) Boiler is not working ( no hot water, no heating ) 2) There is water under the tiles of downstairs toiler. Obviously seller…
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End of Tenancy and New House Purchase
Hi I have just bought my first property and wish to leave my rental flat. I emailed/wrote to the letting agent to explain my intention to leave the rental flat when my new property is complete - which should be early September. However, I was told that the rental agreement was fixed until December. No mention was made that…
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Shared ownership
Currently in the process of looking to buy our first place. Have a 20k deposit but due to cost in own current town we were reluctantly looking elsewhere as we can not afford here. We found somewhere out of town and have made an offer. Since this however we have found a shared ownership place in our currently town for 40%…
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Adding permitted occupier?
After some advice my tenant wants to move someone into the house. No issues with this from my side, and google seems to advise to go down the permitted occupier route. How do I actually do this? Can I just type up a short contract in addition to the AST or does it have to go back to the agent who did the AST for me to get…
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Help to buy ISA process when buying?
Ok so we have had an offer accepted on a house. How does the help to buy ISA work. The solicitor has said we need to close the account down and she will claim the bonus. We are not sure when we will exchange or complete as there is some land that has to be sold before the house can be sold to us. I am thinking that if we…
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How can I take advantage of the HelpToBuy ISA? Mortgage in husbands name only
Hello, My husband bought (well, got a mortgage for) our house just before the help to buy ISA was released. I am not on the mortgage, its all in his name as I am not currently working. As I understand it, I can open a HelpToBuy ISA and start saving. However, would I only be able to use this if we moved home in the future…
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MIP/DIP, Offered, Survey Done, Exchange Next?
Cutting a fairly short story even shorter, we offered on a house, it was accepted, we've had a survey done. This was all since the beginning of June. We have a couple more documents to send to the mortgage company but the date the estate agents have put on exchange is late August. Should we expect the date to be brought…
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Selling question help
Hi all, just looking for some advice as a first time seller. We have agreed a sale with a cash buyer, paperwork all with solicitors and only around 1-2weeks in, however when looking around tonight on RM at rentals (what we are looking to do for the short term) noticed my property was on there up for rent from the end of…
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How Long is long enough??
Hi All, So we're currently renting a house, we love living here and asked the owners if they would be willing to sell the house, they seemed keen so they had some valuations done. We have now put an offer to them, they replied saying they would get back to us and have a think about things but it would probably be a couple…
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Converting current house/mortgage to buy-to-let & buying new property
Hello all, I've decided to move out of my current house and purchase a smaller property for myself. I'm planning on retaining my current property, and converting it to a buy-to-let. I would be grateful for some advice on a couple of items. Firstly, I've done a lot of renovation on my house, and I know the prices have risen…
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Valued down can I still buy ??
Our valuation came back friday and it was £30.000 down on what we agreed to pay . We are in need of a small mortgage but can make up the difference . The price we agreed to pay is £195.000 but the valuer has said it's only worth £165.000 and the mortgage is £60.000 . I couldn't speak to the valuer but the mortgage people…
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Help To Buy Equity Loan Repayment
Hi, I am a bit confused on how HTB equity loan repayments work out. Would I have to pay the loan in a lumpsump of 10% of the house value or 10% of the loan value taken from the government. Also is it necessary to take out 10% or 20% equity loan or would I be able to take out a 15% equity loan and put down 10% of my own…
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Building survey through on house purchase
My partner and I are in the process of purchasing our first home together and last week we received the buildings survey report that we had requested. The house we're purchasing is a three bedroom, Victoria terraced property, which the current vendors have done a lot of interior work to and kept immaculate from what I…
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First time buyer - buying out inherited property advice please
Hi looking for advice on purchasing half of a property. My mother has inherited half a property and myself and my husband want to purchase the other half £270,000 from her two brothers. We had three estate agents come round and value it and agreed price of £540,000 £5,000 off market value. My questions are; Can we have my…
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Tenant advice neeeded
Hi all I hope somebody could give me some insight as to whether or not I have a leg to stand on with regards to changing or breaking a newly signed fixed contact with no break clause through a well known agent without being greatly penalised. (I'm not holding out much hope as I know these things are like signing your life…
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Process a buying a first new build home (Help to Buy)
What's the process of purchasing a new build home (probably off-plan) from getting a mortgage in principle to moving in? I currently have a Help to Buy ISA which I intend to use, as well as the Help to Buy Equity Loan. When is the deposit required? I've currently used the online calculators to get a rough guide of how much…
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How long to wait for sale?
I posted about this issue a while ago but its still going on and I'm getting more anxious... I want to buy a flat as soon as possible. My offer on a leasehold flat was accepted about 5 months ago in February. Since then my solicitor has been requesting documents from the seller's solicitor. So far my solicitor has received…
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Scottish Stamp Duty (LBTT) Additional dwelling Query
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Tenants in Common - 99% to Wife, 1% to me
Hi - I am thinking of changing the ownership for our 2nd home (which we rent out). We are married and the house is on a mortgage currently with both of us owning it as joint tenants. With my wife leaving work and me being in the higher tax band, I wanted to know if I can use up her tax allowances and be more tax efficient?…
