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AST renewal while looking to buy
Hopefully an easy question. I've been in my property since July 2016, initially on a 6 month AST and then a 12 month followed by another 12 month. There is no mention of any notice period in the agreements. The letting agent want me to sign for another 12 months however I am due to inherit some money from a house sale in…
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Buying new build leasehold
Hi everyone, My other half and I are looking at a property by Eccleston in Manchester. Their new builds are being sold on 999yr leases with ground rent increasing with RPI every 10 years. Sales assistant says we can buy the freehold up front for around 20x the ground rent which makes its roughly £4,000. I’ve read a lot…
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FTB - how much say over completion date
Offer accepted September 6th on house. We signed contracts and sent over deposit end November. Sellers are still not in position to exchange when last had an update on Friday 21st as their solicitor was still waiting on their mortgage offer (been waiting for it for 3 weeks) Solicitor has been getting pushy with sellers…
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Fist time buyers - can I rent it out?
So I have a first time buyers account and still a long way of yet with the deposit but I work away a lot and was wondering when I do buy a house could you rent it out straight away or do you have to live in it for so long first?:o
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Filling out my tax return - sole owner, but Declaration of Trust in place - is it 'jointly let'?
Hey there - first time poster on this forum. I own (no mortgage, just my name with land registry) a property, in which I lived. When I moved in with my girlfriend (and now my wife) I let my property out, and have self-assessed to declare the untaxed income on the rent arising for the last 7+ years. I'm a higher-rate…
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Buying with a friend - she’s a FTB, I’m not
Hi all- I’d really appreciate any advice on my situation below :) I bought my first flat three years ago. It’s small in an op-and-coming part of South London. Mortgage repayments are about £780 per month (fixed until end of 2020), and similar places rent for £1200 per month locally. I like the area and it has a lot going…
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Death of Named Tenant in Council House (Repost)
[Please note this is a repost from the Death, Funeral and Probate board as I am not sure which will be most suited to help] My mum completely unexpectedly passed away last month (though the death was not certified until 11/12 due to postmortem) leaving no will & no assets but also no debt owing to a Debt Relief Order which…
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Landlady insisting I show proof of payment of council tax and water rates
Hi I have moved out of a rental property and the landlady is insisting that I send her proof that I have paid council tax and water rates up until my moving out date. I understand that I am not obliged to do this and have told her do but she seems to think otherwise. I am awaiting the final bills for these and have every…
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First time selling and buying - daft question re: SDLT
Hi there Apologies in advance as I know this is basic but hoping you can help :-) Currently own and considering moving. I have a mortgage. I know that you can (normally) pass the deposit up the chain but have a question- Do I need to give the solicitor stamp duty before completion day or can they take it out of completion…
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'Buy for Uni' Mortgage
Hello everyone, My parents and I are having a serious looking at the 'Buy for Uni' mortgages that are currently offered by the Bath Building Society and the Loughborough Building Society. I was hoping that someone might have previous experience with these mortgages, or similar situations. Here's the low down: I will be a…
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What sort of insurance do I need for exchange?
Merry Christmas folks! This place has been a great source of advice on my homebuying journey! Here's my latest question... I'm on the verge of exchanging on a flat and am aware I likely need some form of insurance in place before I do so. The flat is a leasehold flat, but I'll also effectively own a share of the freehold,…
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First Time Buyer Considering Using HTB
Hi all, I'm a first time buyer who is currently looking to purchase my first home. I've been looking into this and have read over the help to buy scheme but I'm torn if I should use this so just looking for some advice really. The house I'm looking at is £194,000 which is a three bed semi detached property. I'll be buying…
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£47,500 available credit
Hello all, I have £47,500 available as credit on 5 credit cards. I’ve had all 5 between 4-5 years. They all have £0 balance, I applied and used them all one way or another along the way to build my credit, get the initial bonus or use them abroad with no fee. I’m now in the excellent category with all three reference…
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Property Investment Question
Hey all, I'm very new to property investment, as you're about to find out. But as a concept, I simply don't understand how anybody makes money doing this. My primary interest is in the BTL market, I know many entrepreneurs that pursue this as one part of their portfolio, I would ask them, but I don't really want to seem as…
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Buying a Second Home, Renting the first
Hi all, I have a mortgage on a flat which I was living in but decided to rent it out in March 2018 when I moved in with my partner. My partner does not own her flat so we have been paying rent, and are looking to buy in 2019. I had always planned to sell the flat to part-fund the new mortgage with my partner but I spoke…
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Doubling ground rent...
Help! I am in the process of purchasing a leasehold flat. My lender doesn't like the doubling ground rent per 25 years. Is there any way around it?
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Sitting Tenant - How to value?
Hi, I need to get a valuation of a property for the purposes of Probate and Inheritance tax. The property in question has a value of around 200Kish as a freehold property but currently has a very long standing sitting tenant in there who gets their rent paid by the council of an amount just under 500 a month, this is…
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Joint Mortgage, FTB and PDL on file
Hi, I am new to this forum so take it easy! Me and my partner are looking at applying for a mortgage for a property with a 10% deposit. Part of the deposit is gift, other part from ourselves. Our affordability calculators that we have done more than clear the value of the property going by our income/outgoings. We had…
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Vendors have not chosen a solicitor yet
Hi, Me and my husband are first time buyers and have our offer accepted on a property last week. We were told the vendors haven't chosen a solicitor yet so the estate agent wouldn't be able to send the purchase confirmation in writing. They have taken the property off the market. The vendors haven't found anywhere yet but…
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Complicated Buying Situation
Hi, I'm new here so forgive me if I don't know the etiquette! We've just had an offer accepted on a house for £265k but I'm not sure what the best way to go about buying it is given we have some unusual circumstances (broad outline of this below): I've just inherited £100k after the death of a grandparent. This is from the…
