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Buying out a former partner from their share of a residential property
My former partner has walked out and I am looking to take on the mortgage myself and buy out their 50% share. I have obtained a number of valuations - all of which are lower than the one that my former partner got (albeit my former partner was not at the property when the valuation was done but my partner was cc'd in to…
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Additional stamp duty and reclaim
I purchased a flat in 2002 and lived there for 5 years. It has been rented out and I have been renting another property since that point The flat is now under offer but won't complete prior to purchase of another property. The new house purchase will attract additional stamp duty as I will at that point own two properties.…
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Unsure of purchase price of house for CGT purposes
Hello all and thank you in advance for any help. The problem we have is regarding a CGT return which will be due upon the imminent sale of my partner's house. She divorced some years ago and bought out her ex. She then lived in the house for several years and then we have been living together in my house for a number of…
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Selling home to parent
I am in the fortunate position to be able to buy my next home without needing to sell my existing home first.My original plan was to move in and then put my original home up for sale but the potential there is that this sale could be drawn out and I would like to access to reclaiming the second property stamp duty asap.My…
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Do valuers just agree with Remortgage Lenders Figure vs Open Market
I bought a 2 bed semi in 2017, nice area, and every time I have remortgaged/switched rate I have always put in a figure that is always slightly higher than the screen which has triggered a physical valuation. Every time, the valuer has just agreed. I ask, because I know full well if i put it onto the open market, I would…
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Offer accepted 12 days ago, buyer still hasn't appointed solicitor or booked valuation or survey in
Just wondering whether it's unreasonable for us to be getting anxious at this point? The agent spoke to them Monday morning and they told her they had had a solicitor lined up and were just 'getting a few final details to their mortgage advisor'. They asked her to please reassure us that they were doing everything possible…
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Mortgage affordability and bonuses
Newbie here - my daughter is currently buying her first flat and Nationwide have just lowered the offer they will loan her because she paid her £19k profit share from her employer directly into her pension last year, avoiding tax, planning for her future and getting a further £3k contribution from her employer. Nationwide…
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Rental - should I keep or look to sell?
Hi i have a buy to let rental, interest only,3,75% rate that ends June 2026. I bought flat for £138k in 2006. Amount I owe is £90k. Exact same property next door has just sold for £140k. i bought this property19 years ago, just before the recession, so the property since has never been valued at what I paid for it - a long…
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Using inheritance to pay off mortgage or save?
Im expecting to receive £250k in May. We're looking to move house ASAP, though currently haven't seen anything we like and haven't started getting the ball rolling on our house sale yet. Our mortgage fixed rate ends on 31st May and we were looking to remortgage - though we'll be going from our very nice 2.3% to a less nice…
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What does the estate agent mean?
Hello All. Finally grant of probate arrived in February and I was able to properly prep the property to go on the market (quite frankly I'm beat, after all the work that I've been doing to get the house looking better than it did last year). I picked the estate agent who thought that the house had potential and had…
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Mortgage valuation vs HPI estimate: how different can they be?
I have a question about the difference between my lender’s House Price
Index (HPI) estimate and their recent mortgage valuation. I am with Nationwide
and in the process of selling my leasehold flat in SE London. I can see what the estimated
value of my property is according to the HPI information in my online account.
This…
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Should I lower trench or leave
1935 semi-detached Yorkshire. I had raised ground levels and obstructed air bricks which caused damp (image 4). Created a trench but I now found an old brick below new one (image 2) I dug down to get all air bricks to at least ground level. I've removed big stones to just have soil. There's 2 drainage gulleys for my house…
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SDLT replacing main residence 3 years rule
Hello. Wondering if anyone can lend any advice. Years ago I bought my grandmother’s property off her, as she got herself into debt. Later, my mum moved in and cared for her u til she passed. My mum now lives in the property and pays the mortgage so it’s on a buy to let. Me and my partner bought our own home in 2018,…
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Would you buy house where loft conversion has no regs?
Viewed a house advertised as 2-bed with the second room in the loft. Vendor (chatty) showed me around, told me the loft conversion was there when they bought and had no planning permission or BC sign off (it's in a conservation area) but they'd been told it didn't need it because of its age and they had indemnity instead.…
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Residential mortgage used to pay off buy to let mortgage and claim interest relief
Is it possible to (1) remortgage my residential property, (2) use say £20,000 of this to reduce a buy to let mortgage, and then (3) use the interest paid on this £20,000 to claim interest relief as part of my buy to let tax return and the 20% tax credit available. I’m sure I read somewhere that this was allowable so long…
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Lodger Issues: household consumables!
Hello All, Wonder if anyone could offer some guidance, please? I’ve had lodgers (on and off) for 20 plus years. The current one has lodged beforehand. Ten years later, she’s back again. She is now 35, and seemed to have grown up somewhat. During our initial chat prior her moving in, I asked her to use the utilities…
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Bridging loan penalty due to bridge company's legal firm delay by a few days
I used a bridge loan to buy a new build house that was supposed to take one year to build but ended up taking four years due to "covid supply issues". We had short notice of completion but already had a mortgage agreed in principle and all we had to do was re-apply and get the hard checks done. Obviously the original…
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Renting Property in Trust, do you need special insurance?
My mother is now living with me and my father (deceased) settled the property on her in a Trust. She is able under the Trust to rent the property out and be beneficiary, however, she is unclear if standard Landlords insurance would be valid or whether you need to have a special form ie Trustee's Landlord insurance. If you…
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Subletting question
Hi, My tenants want to leave early part way through a fixed term AST. No break clause. Normally I would allow, but as with many landlords now, I am looking to sell and put the property on the market once the current tenants leave. I have refused permission for subletting or reassignment of lease because of my intentions to…
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Buying 2nd property from elderly parent
Looking for advice. My mum owns a small house (lives in) and a one bedroom flat that she has rented out for twenty years. The rental from this has provided her with a steady income to boost her state pension. At 82 we feel she would now prefer the security of having a lump sum in the bank as her savings have depleted. Both…
