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Ground Rent Doubling Buyout
Hello, I have the chance to buy a flat where there will be a ground rent buyout such that the gr does not double every 10y, only increases by the rate of inflation (normal) Evidently the total cost is £11,000, which the seller will include in the price of the flat. Does this ammount sound reasonable, and should I be…
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Help- error on mortgage due to move in a week
Hi, I am in Scotland and am in the process of trying to complete missives. We have had our mortgage offers for a while and our solicitor highlighted the face that the purchase price was incorrect- the Home report value had been put in instead of the price we paid, which is significantly more. The bank have now come back…
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Looking to buy a property with friends
Hi All, Thank-you in advance for any assistance with this. My situation is as follows. I am currently 24 years old, working FT, living with parents (paying rent and certain expenses). Like many young adults, I am struggling to put funding together in order to get onto the property ladder. Recently I have been speaking with…
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New job after exchange of contracts??
We have exchanges contracts on a house however as its a new build it is not due to complete until end of august. My question is if I was to get a new job before we complete could this cause the house to fall through? How likely is the bank to now check anything as we have already exchanged?
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Private let
Hi I live in a council property with my wife and 3 children. I am looking at private renting to get a more suitable property. My wife has mobility issues and we live in a first floor flat. At the moment I am a mature student, but, will soon be applying for income support and carers allowance. I need a guarantor and deposit…
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Let to Buy mortgage to allow purchase
Hello, I wonder if anyone can give their thoughts on the following. My elderly parents really need to downsize their house to release some capital to assist with their pensions and to also live in a more manageable property. This process will be traumatic for a number of reasons. They are not going to handle the 'sell,…
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I have to decided to sell but ...
*** I have a house which has been let out since purchase 10 years ago. *** I am not making any profit ie the rental income only covers the mortgage. *** The property has not been looked after by the tenants hence I need to spend my money to do up the kitchen, bathroom and doors etc. *** My intention was to move in to the…
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Help to buy - HTB office requested an increase of total equity to purchase
Hi, I am in the process of buying a new build flat. I followed the HTB calculator guideline and fit all the requirements. But the HTB office came back to me with their new calculator which increase the Total equity to purchase from a default 60% to 66%.and this will require me to put down an extra £10k for deposit. Does…
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How to split a plot of land with siblings?
My parents own a plot of land that we are currently seeking planning permission on to build three houses. I am one of 4 siblings. I am to receive one of the homes my parents will downsize to also live in one of the houses and the final house will be sold to cover the cost of the development. I am the only one without a…
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House buying nightmare, feeling done by agent
Hi, I'm hoping some of you more experienced house buyers can offer me some advice. I'm a first timer buyer with my partner we found a house loved it and it ticked most of our must have boxes. Saw it at the weekend and at that point, someone had already offered the asking price, so we offered and added £550 to the price.…
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SDLT: 2nd Home or not 2nd Home? That is the question!
As a Time-Served Lurker, I know there are an abundance of 'repeat offenders' who don't Search, so I've made sure to trawl first... & cannot find a scenario to match. To save time replying to requests for more info, there follows, unfortunately, quite a lot of detail for such a very short question at the end. Tres desole!…
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tenancy transfer
Hi. I am a council tenant in west yorkshire. I am leaving the country to teach English abroad at some point in the near future and wanted to know what would be needed for my 19 year old son to take over the council tenancy. We have applied to have his name put on the tenancy agreement but this has not been confirmed yet.…
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Land Registry - Lease extension not yet registered but ready to sell
Hi All, was wondering if anyone would be able to help with a little problem. I completed on a lease extension back in November 2017 but have just found it has not yet been registered at the Land Registry. My solicitor advises that HMLR had a query on the original application which was not answered in time and so a new…
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Help 2 Buy Home Improvements
Hi all, new user here. We are looking to buy a new build home (awaiting to exchange contracts) and we are using the Help 2 Buy scheme. I have read through the contracts and noted that Help 2 Buy do not allow any home improvements until the loan is repaid. We plan on knocking through the kitchen into the garage to make a…
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Help! I don’t want to be homeless.
Hi everyone, I’m new to this. I’m not sure if this is the right place but I will tell you a little bit about me first! I live at home with my parents and unfortunately we do not have a very good relationship. I am very lucky to have some money given to me, left by my grandparents in their will. This means I will be able to…
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Solicitor error - after Legal Completion
Solicitor acting for us in Feb 2018 Completion of sale of property now says he ommitted to withold funds of £1500 from us in the event a Radon bond was required by the buyer. 3 months later, and after a Radon search has been done by buyer and not high enough to warrant action, solicitor is asking me to send their client…
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First Time Buyer being blocked by Buy To Let Only
Hello, I am starting the process of looking for a property to buy as a FTB. I am currently renting and me and my girlfriend are looking to buy a flat/apartment in Manchester, however, we're finding that the majority of the properties on the market are marked up 'But to let only'. Does this mean as a FTB looking for a flat…
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Buying freehold
We bought a leasehold house around 19 months ago with a 962 years left paying 17.50 twice a year. I know the advice is to wait until you have owned the property 2 years before attempting to contact the leaseholder but with ours being a long lease will this make any difference? It is very open plan gardens at the moment and…
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Restrictive Covenants
Good evening - I am a first time buyer so no experience here and hoping someone can help. Our solicitor has instructed searches and plan has come back - there is an area in front of our drive that we have the right to use subject to a contribution towards the cost and maintenance of these access ways. How do we find out…
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Shared ownership, pros & cons? Opinions welcome.
Hi, we are looking at shared ownership as we can not get a mortgage high enough to buy out right. We are currently saving like mad for the deposit. There is a new development being built in our area that we are awaiting details on, plus 2 others but they are still in the planning stages. If anybody has opinions or…
