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Can’t sell flooded house
This is a very difficult situation and need advice. Our house flooded back in 2015 (the only time it has flooded in its history since 1760). We are desperate to move (for work/commute reasons) but struggling to sell. We’ve had 5 offers since January 2018, 2 mortgages declined (NatWest & HSBC) and nothing has proceeded. The…
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What fraction of my flat should I gift to my wife?
Hi all, We're gearing up to sell my BTL (aim to put it on the market in the Spring) and am thinking about the Capital Gains Tax liability. Based on a few rough calculations, I think I should gift 40% of the ownership of the flat to my wife, with me retaining 60% in order to get the lowest CGT bill. Here's the figures -…
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AP1 form question - Land Registry
Hello, I am filling in the AP1 form and finding it a little confusing. I have read the guide, but it doesn't answer all my questions. I have obtained Probate and now want to transfer the flat my Dad owned to both my sister and I. He was the sole owner and there is no mortgage. I've come to panel 4 and am not sure how to…
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2 Homeowners buying new property together - SDLT query
Hi everyone I don't feel like this is a particularly uncommon scenario but I would appreciate your advice! My partner and I have both owned separate flats for a couple of years and still live in them separately (they are in the same block... and yes that's how we met...:love: ). Ultimately we want to buy a house together…
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As a Landlord, how do you choose a tenant?
Hi all, I was just wondering how as a landlord you're able to pick a tenant from a number of different applicants? Are there specific types of tenants that you prefer to go for? (Professional couples/singles, families, etc.) Thank you!
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Offering £50,000 below asking price
Hi All, I am a FTB and have seen a house that is currently for sale for £500,000 it has been on sale for approximately a year and it seems to be in area that means that it is not selling quickly. The house itself is nice and does not need any work but I am minded to make an opening offer of £450,000 does that seem…
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Tenancy Deposit Protection Certificate
Hi, Hope you can advise please. We have had numerous issues with our rented house since moving in last May - there has been horrendous mould growing everywhere (which their employed handyman has confirmed was covered up with paint prior to us moving in - an even more hideous move considering I was 7 months pregnant when we…
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Landlord broke TDS T&Cs
I didn't even get the checkout report until just under a month after moving out. I was told by the agency that the report isn't really for the tenants but I said I couldn't argue my side without it so it was only then that they sent it. Reading the TDS terms and conditions this was one of a few that the landlord and agency…
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How to save for a home deposit quicker?
Hi there, I finished university 3 years ago, now working, and living in an overpriced houseshare in SE London. The landlord doesn't care about fixing anything on time, or sorting out the damp etc etc. I would love to own my own place, but it feels like I'm in a constant spinning wheel - I need money to live, pay rent and…
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I am a lodger and have recently found out that my landlady is still claiming 25% CT discount
I have been living in this property with the landlady since October 2016 but did not sign an agreement as she didn't provide one. She originally told me she would, but it never materialized. As I am about to move out, we were having a conversation about the length of notice I have to give as there isn't a written agreement…
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Owed money by vendors - can I take them to small claims court?
Hi all, I was wondering at the possibility of taking the vendors who we bought our flat from to small claims court as they have not paid an amount we agreed in order to begin exchange of contracts. It's a long story, but we found out in our pre-buying checks that the flat needing some work doing to the electrics to the…
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Amending a Lease. Share of Freehold.
I am a landlord in a block of flats (share of freehold), the block is registered in companies house as a ltd company with the landlords all named on the directors list. The lease states we cannot let out the properties but 8 out of the 14 owners are happy to change the lease. Do the owners need 75% to get the lease amended…
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Too good to be true?
I’ve seen a two bedroom flat that’s close to unis etc on the market for a very attractive price. As I’m new to house buying and possibly want to buy to let (it’s within my cash buy) what’s the catch? It’s been on the market for a few months
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100% Mortgage for First Time Buyers
https://www.theguardian.com/money/2019/jan/28/lloyds-unveils-100-mortgage-for-first-time-buyers thoughts? I think it's a fab idea. In my area, mortgages are cheaper (per monthly payment) than rent, but it's so hard and expensive to get a mortgage these days.
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BTL and residential Mortgages
Hi All, Does having a buy to let mortgage affect the ability to get a future residential mortgage. The buy to let I would receive no rental income and it is simply an interest only repayment mortgage in which the tenant just pays the amount due and I get no income from it (family!). But in a couple years time i want to…
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Exchange deposit and mortgage deposit.
I’m really confused. Been reading martins guides on house buying and he has talked about two deposits. The exchange deposit and the mortgage deposit. Does this mean I need two lots of 10% then. If I do I will be panaciking massively. I have just placed an offer on a house and waiting to hear back from vendor. Thank you
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Stamp Duty Land Tax
Hello, I was wondering if someone could please offer advice? I own a flat that I lived in for seven years, I relocated for a new job so have rented my flat out for the last 3 1/2 years, and have lived in rented accommodation since. I’m looking to buy a new house with my partner who is a first time buyer. I’m aware that we…
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Building Insurance Costs - Fair?
I would like to know if the current share of insurance seems fair based on the fact we are connected to a commercial business and it feels like as residents we are paying a chunk of their costs, see attached picture. For context read on... I own a leasehold apartment in a large block of flats, half of these are owned by a…
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Still worth using an EA?
Just curious as to whether it's worth involving an EA. We are hoping to put our house up for sale around March/April time, we have a few small jobs to do first to get it ready. A friend of a friend has already expressed a keen interest in our house and would like to see it soon as we have it ready. We have been in the…
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New build Vs established property
Hi, We're in the process of selling and moving elsewhere. We've been looking at a variety of properties (mainly new builds) but finding it difficult to focus our search on one or the other. We're a little scared of buying from a plan and would much rather be able to see something we were going to move into. But in our area…
