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Stamp Duty
Okay so I bought a 50% share of a house back in 2020 for £91,000. It was my first home so no stanp duty was payable. I have now staircased to 100% ownership, the full house value now is £210,000. Will I need to pay any stamp duty on this? The government website to try and work this out may as well be in hieroglyphics!
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Saving for a deposit - FTB
I am saving for a deposit for my first home. I’ve actually reached my initial goals, but as I am looking to convert being in a contract role into a permanent position, I am continuing to save while searching for a new job, which will give me an even bigger deposit. When I first decided to start saving a few years ago, I…
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To stay in Social housing or to buy a house
Good evening all , Please could I have advice . We have been in our Housing association property since we were young and homeless and managed to work our way up . we now could possibly be in a position to buy our own home ( we are late 30s ) but to get a mortgage on a similar size house to what we have now we are looking…
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Leasehold Nightmares
I bought a 50% shared ownership 3 bed end terrace in 2020 and last week I completed on staircasing to 100% ownership. Before I started the process to staircase, I asked the housing association that owned the other 50% if I would acquire the freehold upon staircasing to 100% and they said yes. Fast forward to today when I…
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Higher rate stamp duty eligibility
Hi all, I'm hoping someone with a good understanding of the higher-rate SDLT rules can sanity-check our situation. We're married and are about to sell our current home and buy a new one. Our circumstances are: My wife owns our current main residence outright in her name only. We have both genuinely lived there as our main…
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Stamp duty
My son is renting the only house he owns. He has a certain amount of equity in it. He wants to remortgage it on a buy to let mortgage to raise a deposit for another house he will live in. Total value of both houses comes to 450k or thereabouts. He has been told by a broker he will have 11.5k to pay in stamp duty...…
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Advice from private landlords on set up
Hi all, Using a new profile as I can't access my old account but I'm new to the rental boards after years on debt-free and mortgages instead. Situation has changed a little over the last few years and I am hoping to get some advice for my mum and myself on whether what we are looking at is reasonable/will be affordable for…
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Asking for other opinions
elderly mom has offer accepted on Victorian flat in very good area not cheap, recieved the survey back lots of damp plasterwork needs removing quarry tiles on earth needs membrane put under. Also the main roof needs attention 5 owners are leaseholders but also share part freehold. The management company are the freeholders…
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Property with 'proceeds of crime' charge on title deeds
I've seen a property I'm interested in viewing. It's been on the market a while and has been reduced in price multiple times, the fact it's detached, 3 beds, in a decent area and the EA couldn't (or wouldn't) tell me much about it got my spidey sense tingling so I paid £7 and downloaded a copy of the title deeds. There are…
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Capital Gains Tax on Property Sale
Hi My parents are downsizing to a flat. They will be moving before their current home is sold. So when they do sell their current home I think CGT will be payable as it will no longer be their main residence. I believe there is a grace period of 9 months after you move out but it may be extended to 36 months if the owner…
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Bought a flat, very bad smell please help im struggling
Hi My Daughter lives at the other side of the country and she recently bought her first property which is a massive thing for her as prices where she lives are great. She made her offer in late March and it completed a few days ago. Two friends viewed the flat with her as me and her Dad are at the other side of the country…
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Unregistered Property - Death of Joint Owner.
Hi my parents home is in England ©400k and owned jointly since 1986. Therefore it is not on the new property register. Dad died last year, probate was not needed as all money was already with mum or joint accounts. Their wills left everything to each other. I am my Dads executor, and also I am looking after mums financials…
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Am I right in thinking I cannot build an extension the way I've planned?
I've added photos of the land title, and screenshot of where I plan to build. The black lines are my intended extension, the red dashed lines show where my fence sits. If I extend as full width of the home, I will block half of my garage, which is fine as I don't use my garage. Land registry shows that half of shared…
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Would you take the leap in my situation?
So I am fortunate enough to of inherited a large sum of money (£160k). Me and my partner have lived in our first home for just over 4 years now and a second house opportunity has come up in the same village we want to stay in. The house is quite a jump up from what we have now with it being on the market for £425k, we have…
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Rent with no income but large savings - Renters rights laws ?
I have posted on Reddit but I thought I would try my luck here too. I dont wish to link to the reddit posts as I am not sure its allowed. Not working since last couple years. With net worth a healthy multiple of yearly expenses (including rent), you could say FIRE-d. Don't wish to drawdown my SIPP tho yet just to "show…
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Flat purchase with underlease structure - Very concerned
Hi, First time buyer here, in the process of buying a leasehold flat in London. It has become apparent that this flat has an underlease, with a headlease held between the freeholder and a management company. Freeholder – Headlease – Underlease (Me) Admittedly, I was not aware this structure was a thing. It did not come up…
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Persimmon Advertising price change after reservation
Hello… Im new here. I reserved a new build with persimmon under section 106 (DOMV) about 4 months ago. I have not exchanged contracts yet. Today they released more houses on their website for a reduced price from what i have reserved at. They 40K cheaper than my reserved house, the exact same house style just one street…
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Parking space problems
Hi Not sure if this is the best place for this question and whether anyone will even be able to help. I purchased a house in a 20 yr old estate over 3 years ago. It is an end terrace in a small courtyard which has 4 car parking spaces and 2 of those are marked in red on my title deeds. After lots of reading I now realise a…
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‘Defective’ lease (possibly) and should I pull out?
Hi I am several months into purchase of a two-bed leasehold flat in an area I like. My solicitor contacted me to say there is a clause in the lease relating to Section 121 Law of properties Act 1925 effectively meaning the freeholder can re-possess the property if estate charges go into arrears. This is unlikely to happen…
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Buying House Freehold Clause
Good evening, I have a leasehold house (900+ years left on the leasehold). I was offered the opportunity to purchase the freehold. I agreed with the costs and started proceedings. In the terms there is a clause relating to mining and mineral rights, which I don't think is unusual. However as follows: "Unto the person or…
