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7 year rule for IHT
Hi all, Again I need some clarification about gifting a house and 7 yr rule for IHT. So we have gifted our house ( previous threads deal with cgt, and down sizing etc), to our son as his main home. We signed and dated the tr1,ap1 and deed of gift and sent these together with id1 forms to Land registry They have emailed…
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Maintenance costs on a deceased estate
My dad died several years ago, he had a will trust. The beneficiaries of this are different to those on the estate of my, now, late mother. The percentage of the estate going the beneficiaries of those on the will trust are higher than those on the half now relating to my mother's estate. The beneficiaries on my mother's…
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2nd home becoming main residence
We have sold our main residence of 20 yrs. We now intend to spend most of our time in our 2nd home of about 6 years. So does our 2nd homes now automatically become our main residence? And how do we make the change? As this will have a positive impact regarding Council tax.as a 2nd home in Wales we pay more than a main…
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House purchase for children
My husband and I bought a house as an investment in our young adult children's name for their future. We would like to let it out and claim the income for ourselves to recoup some of the funds we used to renovate it. We know it is listed as additional income for tax purposes and would do that but can we let it out as our…
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House Sold Under Our Feet
Hi, looking for some advise. We put an offer in on a property last Saturday, the properties owner has passed away and a solicitor has been instructed to sell on behalf of the next of kin. Our offer was below asking price but was told by the estate agent that this is what we would have to offer, for it to be put to the…
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LadyBrook Securities Ltd and Rentcharge
There have been lots of threads on here over the years regarding LadyBrook Securities, rent charges and retrospective consent. All seems very dodgy but is apparently legal. Advice wanted regarding LadyBrook Securities from anyone whose dealt with them and retrospective consent. They are currently delaying my elderly and…
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Funding stamp duty and solicitor fees
We are downsizing and will have about 200k in cash at the end of the sale and purchase. The stamp duty on our purchase will be about 13k and the solicitor fees about 4k. I had assumed that the part of the 10% deposit received from the buyer not needed for the purchase would be available to pay the SDLT and fees after…
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Tenancy Issues
Morning, A tenant moved in December 2022, they disclosed that they had a large dog. After contracts were in place, they dropped in that they had a small rodent, a bird and 'a few fish'. This was correct but the aquarium they moved in was 800kgs. I did state the first time I saw it Q2 2023, that it was much larger than I…
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£200 000 and no idea what to do with it please can you advise?
Through the sale of an inheritance property I have this money. I am over 60 missed the boat for purchasing a property or have I. I currently rent on a long term basis at £700 pm which is hopefully secure for as long as I want to rent. I'm not sure what my options are but these are my thoughts that I need help with If I can…
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Lost paper deeds
The building society that we took a mortgage out with on the property we already owned were given the title deeds in return for the loan now the loan is complete they are not returning the paper deeds insisting that they don’t have them stating it was done electronically which is absolutely not true does anybody know where…
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Seeking Advice on Financing for New House Purchase
Dear all, I booked a new build house from Taylor Wimpey (Bristol) in August 2024 with plans to purchase it as a second home. Back then, the stamp duty was around £35,000, but now it's increased to £50,000. My completion date is 30th April 2025. To help with the costs, I decided to sell my current house in December 2024,…
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Help: Why is my partners Equifax credit score so low?
Hi all, Me and my partner have had an offer accepted on a flat and we’re just about to put our mortgage application in when he checked his Equifax score and it’s at 502 which they list as ‘fair’. His Experian score is 999 so we’re a bit confused about why this could be. We compared the reports they have and there doesn’t…
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we had no idea that our solar panels might be a problem
we are selling our home. In 2011 we had the free solar panels installed by Ecovision, they are maintenance free and to be honest we have not had anything but positive things to say about them. We have loved the free electricity and we couldnt afford them at the time so it was win:win or so we thought. We informed our…
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Estate charge increase, lender want proof it won’t double in 25years
Hi, I’m looking for some advice, myself and my partner are in to process of buying our first house, it’s a freehold property although has an estate charge which is currently £30 per month, the house was built in the 80s. Our lenders have now got a concern of the estate charge increasing and worried that we would then not…
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Agreed rental but just noticed it's up for Auction
Hi I've just agreed to rent a property but have now noticed that it's up for auction. Also I've noticed it's £100 more a month then the previous tenants were paying. Anything I should be concerned about here, if they sell would that mean I'd need to leave or could the new landlord try and put the rent up even more. Also it…
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Mortgage Advice
Good Afternoon everyone, Apologies for any errors here, this is my first post.I am writing this post as I really need some advice.I have a mortgage on a property that I bought in 2007, and this has been an interest only mortgage for quite a while now to keep the costs down. I lost both my parents in 2022, and we are…
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Buying house with unofficial loft bedroom - the final reckoning
This is a bit of a long one, reprising a couple of earlier threads but with all the info in place now.House was advertised and priced as 2 bed with agent's listing stating final works (fire door and window) being done to satisfy building regs for the 2nd bedroom in the loft. About 6 weeks into the purchase process it…
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Parking rights
Hi. My daughter bought a flat 3 years ago. The flat has a dedicated parking space. There is a tree that has become so overgrown and is now impacting her space. All the freeholders agreed to get the tree removed, bar one who did not want to pay the cost. The mgmt company planned to go ahead regardless but the resistant…
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Complicated stamp duty question - becoming liable for more stamp duty if getting married
Hi all, Complicated one for you. I will get proper advice from a solicitor, but thought I'd start here! I have owned a house with my now ex-wife since 2014 and will do for at least another ten years. It's where my child lives and have no intention of disrupting them even if I could. In 2024 my partner bought a house which…
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Shoosmiths Switch
Hi, I've been recomended this conveyencer by the Estate Agent I selected to sell my flat. Anyone got any experience of them?
