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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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Yopa charging for not using there solicitors when selling, is this right?
We just a valuation yesterday and everything went well. Shortly after the Yopa agent visit they sent us an e-mail with the packages they offer to sellers. However below the packages was this line "If you wanted to pay upfront and use your own solicitors, you would need to add £250 on to each package." Firstly I've known…
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Enquiries
I’m four months into the purchasing process. I am waiting on three separate enquires from the sellers solicitors. The first two seem reasonably doable. The third one sounds a bit tricky.. We are waiting on a response from the management company in relation to a Deed of Variation that my solicitor has requested as the…
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House not listed as sold despite offer
Hi we have had an offer accepted on a house but have been told that the seeker will not list it as sold until we have a formal mortgage offer. In the interim they won’t do viewings and also say they really want to sell to us. is this normal? Should we be worried that it’s not being listed as sold subject to contract?
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Abortive legal fees - challenge or not?
Hi all, I recently pulled out of a purchase and have just had my bill through... It is made up of legal fees of £480 plus £216.12 for searches. In short, the vendors declared a border dispute early on (in the initial sales pack), having agreed to change the border on land registry, months later they claimed there was no…
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Frustrated
I’m in the buying process. Nearly three months in. No chain on either side. I think my solicitor has recently come back from annual leave so I think there is a backlog - I got that info from the estate agent. When I email the solicitor I just get an automated reply saying - experiencing a high volume of emails etc etc. I’m…
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Who should do new electric works in a rented property
I help manage the landlording for family members and the tenants have recently asked if it would be okay to get new mains sockets installed for convenience. They are willing to pay and were asking for permission. I have no issue with this and only requested that they use a qualified electrician who would issue an…
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Is RTM only for leasehold flats?
I'm on a not-so-new estate with a terrible management company and I've been told that we could use the RTM option to wrestle control of the management company to the residents. All of my research however seems to imply that RTM is only applicable to leasehold flats. Does anyone know if we could go down the RTM route if its…
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Buyers paying for estate agent AML checks?
We are registering with estate agents for a future move and I received a 'thank you registering' email this morning. I don't usually read them but there was a section that stated that BUYERS need to pay for AML checks if their offer is accepted. I've checked other emails and they do not mention this, so I want to ask if…
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Under what circumstances can landlords claim costs in excess of the deposit?
Currently dealing with a difficult landlord who is claiming I owe him rent post-tenancy because the property wasn't spotless which delayed them being able to rent out the property. Considering there was no tenant lined up to move in (not a single viewing while I was still living at the property), it seems disingenuous to…
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Stamp Duty on cheap property
Our main Home is up for Sale for £125k we are interested in 2 properties but only intend to buy one of them A is valued at £130k B is valued at £210k If we have not sold our Home before we own either A or B what impact will Stamp Duty have? Also Can Stamp Duty be claimed back once original Home is sold? Thank you for…
