-
Mortgaging existing buy-to-let house to purchase a second property
Hello all. Long-term lurker, first-time poster here :-) TL;DR: Is it possible to take out a mortgage on a property which I own outright through a limited company, and it already let on an assured shorthold tenancy, then use the mortgage funds to purchase a second property to rent out as a holiday let (Airbnb or similar)?…
-
Stamp Duty Rates - Buying a bungalow with an Annexe
Hello, I’m hoping for some advice in case anyone has been through something similar. We’re in the process of buying a bungalow that includes an annexe. Our solicitor has advised that we’ll need specialist guidance to determine the correct level of stamp duty, specifically because of the annexe. From what I’ve researched,…
-
Who is responsible for calculating Stamp Duty (Shared Ownership)
Daughter bought 45% of SO house 3.5 yrs ago, when threshold was £125k. House value £245K, her share £110k approx. In any case, no stamp duty due. She is now looking to staircase to 100% and obtain the freehold. Solicitor has said they will only handle the Stamp Duty return to HMRC - not the calculation of the Stamp Duty…
-
Looking for a simple but legal (RICS) valuation survey in East London - how to choose
I'm looking for a RICS surveyor in East London to value my property for equity following a separation. I've looked at the RICS listings - is there anywhere to get recommendations?
-
When to reduce a sale price - NW Lancashire
Possibly a piece of string question...our family house went on the market four weeks ago. We researched loads of agents, got it down to three, and then picked our current one. On reflection, we were crazy to be rushed into putting it on the market during the school holidays, but hey ho, that time has gone. They valued the…
-
House left in will, and selling our shares.
Hello, Hopefully someone may be able to help with my question. A few years ago our parents put their house in trust to us. I have 2 brothers,
1 off them lives in Australia and 1 in the UK, so at the time the house was
left in trust it was just myself and UK brother put on the deeds of the
property (so 2 names on the deed)…
-
Extend or sell
I will very quickly set the scene - I have a 3 double bedroom, 1 bathroom property I currently rent out. It is an end terrace with a garden and a large garage. I have already spent £45,000 on the property doing a full rewire, new bathroom, new kitchen, windows, boiler etc. I rent to a lovely couple who have 3 boys (13, 7…
-
Capital gains tax on selling inherited property
The CGT rate for executors is 24% compared to 18% for basic-rate beneficiaries selling property. If you are both executor and beneficiary of a property, do you have to formally transfer ownership of the property with the Land Registry into your name to pay your personal 18% CGT rate on selling the property, rather than the…
-
England - can I go to tribunal for overcharges on service charges and buildings works once I've sold
As part of the sale, I'm having to pay for the service charges and building works cost to date (fair enough!), but if I was keeping the property I would be going to tribunal for some of these costs - I'm having to pay £40k now, and am putting away a retention of £20k for any other future costs that might come up for the…
-
Land Registry questions
Hi everyone The Land Registry is here on our Forum to help answer its customers' questions. If you have a question pop it on here and it will do its best to help. Related on MSE: 50+ House Buying Tips Free First Time Buyers' Mortgage Booklet 2018 Remortgage Guide 2018 Ultimate Mortgage Calculator
-
Choosing a solicitor for a house purchase and expected fees?
I am trying to find a solicitor for a possible house purchase. Apart from being within easy travelling distance what other criteria should i be concerned about? I guess it changes across the country and varies on sale price but how much should it cost roughly?
-
Incorrect Redemption Statement (Selling Property)
Hi there, Seeking advice for what looks to be an inaccurate redemption statement: The mortgage was issued 01 Jul 24 for approx £540,000.09. The redemption statement received (approx 15 months later) shows the redemption to be higher than the original mortgage. Balance as at 01 Jan 25 £538422.17 Early Repayment Charge…
-
Stamp duty question when staircasing, Shared Ownership
Hi, Any help would be much appreciated as I do not understand exactly how to work out the stamp duty now that I am attempting to staircase to 100%. 2016 - 50% share of £276,500 (£553K property valuation), paid stamp duty £3,825 + NPV of £921. 2018 - 20% share of £103,000 (£515K property valuation), no SDLT paid as only…
-
Selling Shared Ownership
Currently have a 50% shared ownership house which is on the market. Aspire Housing (Cerris Homes) own the other 50% and told me from the outset that no RICS valuation was required for me to sell my share. My estate agent came up with a valuation and we have used this to market the property. I had someone view today who…
-
Buying Leasehold with 76 years left - Pros and Cons
Hi I would like some advice on below: I am a first time buyer and need to know if it is worthwhile buying a place which has 76 years left on its lease. It was a 99 year lease to begin with. I would like to stay there for a few years while I save up a deposit for a small house and then rent this flat to get a small income…
-
Buying a freehold house but part of garden (15ft strip) is leased to council– anyone had experience?
Hi all, I’m a first-time buyer and feeling quite nervous. I’m buying a freehold house, but I’ve discovered that a 15-foot strip at the very end of the back garden has actually been leased out to the council (so the council is the tenant). Has anyone here had experience with this kind of setup? * What complications or…
-
Tenancy rights
I was wondering if anyone could offer me some advice. My daughter has just moved into a rental property with a few friends, they are uni students. One week in and there are rats in the property. the landlord cam out and has since just filled the holes with wire wool. What I want to know is, what rights do they have? Their…
-
Selling a probate property - do they look into finances of deceased owners??
We are selling our parents property. Mum died in 2022, then Dad in 2024. Mum had given my brother & I some money before she died. I did factor this as gifts into calculating if IHT was payable as it was more than £3,000 and within the previous 7 years. But the estate was under IHT threshold so none was due. Now the buyers…
-
Money Moral Dilemma: Should I ask my lodger to pay more rent because she regularly has guests?
This week's MoneySaver who wants advice asks... I have a lodger, and she largely has my house to herself as I'm often away. I have several security cameras that she's aware of, and on reviewing them, it's clear she often has guests over to stay. While I'm not happy about having random people in my home, she's otherwise…
-
Buying a retirement flat to renovate before selling current home
Hi there My parents would like to move closer to me. They have put an offer in on a retirement flat which they can buy from cash reserves. The plan is to completely renovate it so they can move in when it's ready without the stress and sell their main property in a separate transaction later. I understand they need to pay…
