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Buying a house in a trust to avoid inheritance tax
I over heard a friend of a friend during a social event mentioning how he bought his house in a trust rather than his and his wife's name as this would mean if anything happened to both of them, then the house would be inherited to their kids without having to pay inheritance tax. I didn't get the opportunity to ask any…
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Selling to FTB. Interested in your timeline as a buyer / seller with no chain
Hi all, recent lurker who is enjoying reading the waiting to exchange thread. Our situation.. We have accepted an offer on our house from FTB’s but we haven’t found our onward purchase yet. We are happy to proceed and move in with family as we find we are losing out to more ‘ proceedable ‘ buyers so hopefully this will…
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Planning Permission Breached?
I purchased a new build in Jan 2021 and for a variety of reason decided to move on fairly soon after. Whenever my buyers conveyancing solicitors were performing their tasks etc., they discovered that my 4 bedroom house was actual identified on the local council planning portal as a 3 bedroom. Whenever I purchased the…
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Down Valuation or Retention? Confused!
Hi All, We’re currently in the process of selling. Our buyers have a high LTV. Their mortgage company requested a damp and timber report. This found evidence of rising damp and suggested that we needed to add a french drain; inject damp proof course; replace skirting and replanted. The quote for this was approx £3000. This…
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House valuation
Hi all, I am totally at my witts end with selling and I'm really worried about the next valuation. I just want to know if someone has gone through something similar. We initially sold the house back in September 21 to a first time buyer, it flew through the valuation at 200k in November (we had issues with buying on so our…
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Ascent triggering first registration fees and documentation
Hi all, Realise this is probably already been asked and I have searched which is why I have the info I have. Due to the numerous posts and feeling slightly confused I just want to make sure I am doing this correctly Also have a question concerning the fees for the Land Registry. Having completed the DIY probate, which was…
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What type of mortgage
We own our house, no mortgage. I am now separated from my husband and want to buy his share of our home. What mortgage do I need to apply for ?
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How to buy a second house
Hello. My wife and I own our home outright. We'd like to buy another house for a family member to live in, but for that we would need a mortgage and we don't have enough for a deposit. Can we mortgage our current house to raise the money to buy the other house? The only suggestions I can see online are to raise the deposit…
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Can costs of EICR be claimed against CGT?
Can anyone advise if the costs of the works in order to obtain the now mandatory EICR [Electrical Installation Condition Report] be offset against Capital Gains Tax for the Landlord? I expect the works may be considered as 'improvements' - and therefore not claimable against CGT; but the Government has now made it…
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Buying a new build flat off-plan (First time buyers)
Hi everyone, My partner and I have been looking at buying a new-build flat which is due to be completed by August, although this could run over (just recently changed from June to August). This is our dream flat in the perfect location – we weren’t set on buying new-build at first, but given everything else we’ve seen,…
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Feel like I'm going around in circles
I feel like we are in an awful loop of trying to buy and
sell. September 2019 we find a house we like but not ready to sell. March 2020 we put the house up for sale June 2020 we put an asking price offer the house with the
understanding the house will still be marketed until ours sells and we get an
offer 2 days and phone…
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New Build Long Stop Dates Longer Than Mortgage Offer (inc Help To Buy)
We reserved a new build flat in June last year. Estimated completion was end of 2021 so our mortgage offer lasted through end of Jan (now!). The estimated completion moved to end of March 22 and now is looking to be going back further... awaiting info. So we now need to extend or renew our mortgage offer (it's a first-time…
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House sale and moving out of UK question
I am looking to move out of UK (with family) for work assignment to the US. I have a small house here in UK which I have decided to sell because of - potential issues involved in letting, as I may not have enough time to manage from a distant land - getting equity out now to help in settle in new country The purchase price…
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Flaky buyer - impact between exchange and completion?
Hi All We advertised and accepted an offer on our house last September to someone who was looking to remortgage their house and purchase ours as a second property - we then found the house we wanted to buy within two weeks and got an offer accepted, managing to convince the sellers to rent. Great - a small easy chain! But…
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5.5x Income multiple lenders.
Does anyone know of any lenders apart from Nationwide who will lend income multiples of 5.5? We have a joint income of just over £50k, so it knocks out a few lenders that I have found. Anyone know of any others?
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Remortgage
Help. !! I have a interest only mortgage and want to change to a buy to let as I intend to rent the house and move elsewhere but I have a lot of equity, how do I safeguard my equity so when I sell I don’t pay tax on the difference between what it’s currently worth and the mortgage? Happy to pay tax on any extra over what…
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Steps to build dormer/roof terrace in share of freehold
Hi all, sorry for the long post! I am looking for some advice: we own a split level flat in a Victorian conversion and have a share of the freehold (together with 4 other owners, the building is managed through our own limited company to take care of maintenance expenses etc). We are considering getting a new dormer built…
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Capital Gains Tax on rental property, if I do not also own a home.
Hi everybody, I have a question about Capital Gains Tax, here is the scenario: I own a flat, I lived in it for 10 years, but then I outgrew it. So I moved out, rented the flat out 2 years ago, and then rented a property with my partner to live in. I now live in a rental property, at the same time as owning a rental…
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How expensive are these issues from homebuyers survey?
For context we are buying a 1900s terraced house for 118.5k in the north west. we had a homebuyers report done and I’m quite confused as there are some issues rated 3 that sound very serious, but they also put a condition rating 3 on a cracked tile in the bathroom, a cracked window in an internal door amd the handrail for…
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Can Someone be a Rental Guarantor for Multiple People?
My husband's brother has asked him to be his guarantor on a rental home. Will this impact his chances of being a guarantor for our two sons who may need to move into with private rental or student accommodation in a few years time? I am self-employed on a very low income so it is unlikely I will be able to do it so it will…
