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NEW BUILD HOUSE VALUATION AFTER COMPLETION AND COVID19 IMPACT
"The major issue here for buyers is that mortgage lender property valuations are usually undertaken at the beginning of a new build and after construction is completed. If property prices fall within that period, therefore, and the buyer is unable to secure a mortgage for the remaining balance (due to a perceived reduction…
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2nd residentia mortgage
We have a mortgage - for about 10 years residential. is it possible to get another residential mortgage?
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Shared Ownership problem-please help
I have entered a sole shared ownership contract approx. 8 years ago. At the beginning of 2020 my mother visited me but could not leave the country following the effects of the Coronavirus worldwide. All flights were cancelled and most if not all the countries adopted a lockdown approach. She asked me if she could move in…
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Buying Freehold Lease
I was paying the ground rent on a property and they took the money out yearly on a DD. I wrote to them (Simarc Properties) recently and they said that they have not managed the property since 2014. They gave me the new company and it sounds similar to Simarc its Premier Block Management and the owners are Starcrest…
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Share of freehold Basement Coal Cellar
If anyone can give me advice it would be brilliant. I have recently purchased a Victorian property in London. The property has a top flat ( owners have share of freehold + share of freehold of middle flat) Middle flat is leasehold. And the freehold is owned by the top flat and bottom flat. Bottom flat which is ours is…
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Evicting Lodgers
Hi All, Quick question - are lodgers subject to the normal contractual eviction rules? My lodgers contract states 4 weeks. I am currently staying at a different property during this lockdown period and my lodgers have stopped the paying rent (despite me knowing, they have a large amount of savings!). I've given a grace…
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HELP. Which do I need... Deed of Assignment / Declaration of Trust, Transfer of Equity ?!?!?!?
Hi folks, hope everyone is staying safe. Hoping you can share some love and help my confused head with the below... I have 2 x BTL properties, tenanted and have mortgages on them. I am in the higher tax bracket. My missus is in the lower bracket. All I want to do is utilise her lower tax bracket to reduce the income tax…
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If exchanging & completing on the same day do I need to pay a deposit?
Hi, I am buying a new build property, no chain whatsoever, so I will be exchanging and completing on the same day. In one of the documents my solicitor has sent me they talk about a 10% deposit needing to be sent. Is this possibly a mistake? I ask as a family member has said that as I am exchanging contracts and completing…
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Are BTL investors still buying
Bit of an open ended question I appreciate but just wondered from any BTL investors what your views are. We have a house in family we have been trying to sell since late last year (grandparents house who passed away last year). We had a few viewings from first time buyers and some investors. Didn't expect to do much given…
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Re value ??
Good morning, Hope this post finds everyone safe and well. I am after a bit of advise, I have agreed to purchase a property before the virus outbreak, however, as yet we have not exchanged contracts. I am a little concerned that the value agreed for the property is now not the current active market price due to the…
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Estate agents disclosing other offers
This is a question out of interest mainly, as I'm often intrigued by the way different estate agents operate. Are estate agents allowed to tell you how much another offer they have received is for (e.g. we have an offer for £205k)? I had always thought they were not allowed to do this (i.e. they can only tell you that…
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Check-out report does not match inventory
Hello - I am a residential tenant, renting from a private landlord through an estate agent. I recently ended the tenancy and moved out. The estate agent sent me the check-out report, but every entry under 'previous state' (i.e. describing the condition of items when I moved in) doesn't match the original inventory AT ALL.…
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Preparing Plans and Documentation costs?
In a document my solicitor sent me in relation to me buying a new build house.....it states... 'Please note that under the terms of the contract you have to pay certain costs of the developer preparing plans and documentation. These fees will be included in their final request for the completion monies once they have…
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Rental Deposit Return
Any advice gratefully received... My family and I have lived in our rented house for 14 years. In April 2018 my landlord (Mr. S) sold the house to a new landlord (Mr. B) , and from this date we have paid rent to Mr B. Mr B did not receive our rental deposit from Mr S, nor was it returned to us. I have left the two of them…
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LISA Query
Hello, Just wondering if anyone can give me any help here. I am near the end of purchasing my first house and I am using a LISA for part of my deposit. The funds were withdrawn by my solicitor last Thursday and I have just found out that the vendor is a vunerable person and needs to self isolate so he cant move out until…
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H2B reservation fee - COVID-19 refund?
Hi guys We reserved a Help to Buy property in early March (before the situation had escalated as it did), but we've since been advised by family to reconsider our options. We said to the developer we'd like exit the arrangement given the circumstances, and they said no problem but would only return half of the deposit. I…
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Moving in with partner -- arranging council tax
Hi, Both myself and my partner both have our own houses (with mortgages and a single person council tax discount). I've almost sold my house and I'm in the process of moving in with my partner. Does anybody have any advise on how to sort the council tax out? My partner has sent the council an e-mail asking for advice but I…
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Lifetime ISA (LISA) Query
Hello all I hope you are staying safe out there. My partner and I are wanting to get our feet on the property ladder, we have been lookinto into a LISA for savings as have missed on on the chance do do help to buy. We just have one question and have struggled to find a definitive answer- Does the LISA have to go 100% on…
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Renting out property
If a 16 year old with only a weekend job was to move out of their parents home (or was kicked out), could they rent out a flat? What kind of help could they get? If not, how could they prevent homelessness? Please be honest. Thank you.
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Buy a property to rent out or not
Ok, so I need to know what other people would do if they were in my situation. This isn’t going to happen in the next couple of months but in maybe 12-24 months. So my current situation, I am a single parent with six kids. My eldest is almost 18 and my youngest is 3.5 years and starts school in September. My eldest has one…
