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Manage the CGT on the sale of a rental property
Hi All, Please excuse my rambling, just trying to enter details that maybe relevant. My wife and I jointly own a rental property for 10 years, it has increased in value approx 50K in this time. I would like to sell and legally avoid/manage as much CGT as I can. I also own my main residence. On personnel note, I can…
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FTB cash-only flat with short lease and major works pending
Hi all, I’m a first-time buyer and would really appreciate some guidance before I submit an offer on a flat I’ve viewed. The property is listed at £130k and is a probate, cash-buyer purchase due to the lease only having 54 years remaining. A neighbour on the building committee reportedly bought their share a few years ago…
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A niche SDLT question.
(posting for a colleague) A married couple A & B owned their own home. For historic reasons it was always in the sole name of A. They then decided to move to another part of the country, due to work commitments B moved first with the intention that A follows a few months later. B moves into a doer-upper. The property is in…
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Proving Source of Funds
I hope this is the correct place to post. My son is experiencing difficulties in proving the source of funds for the deposit on his first house. He was left an inheritance when he was 4 years old. This was held in trust until he was 18 when it transferred to his name i 2016. He is now 27. The Solicitors are insisting he…
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Shared ownership stamp duty for staricasing
Hello, I am new into this but I will try to be brief I read a previous thread but it was closed so I could not reply back. From reading , I understand these are the info you will need at the moment. I am considering staricasing and trying to figure out the cost of stump duty. Here are the facts that I know. - property…
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Selling a park home
Hi everyone, my father has just got into a residential care home and he was living in a park home. Luckily, it’s under my name and has been for nearly 10 years so I can sell it. However, the owner of the Park has said before he would let us sell it on the open market we have to fix the fence which I think is fair enough…
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Retirement Village in Breach of Repairs Contract?
Hi My Mum lives in a Retirement Village, where she shares ownership of a bungalow. In December she had a burst pipe behind the kitchen units. She has a RepairsPlus contract for which she pays £43.99/month. An engineer came out & repaired 2 sections of copper pipe, which were badly corroded. It transpired that whoever had…
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Would you buy a house that had previously had spray foam insulation?
I had an offer accepted recently on what I thought was my dream home. A few weeks later I've been informed by the estate agent that it has spray foam insulation in the loft, which the vendor is going to have removed prior to me arranging a survey as he knows it's not mortgageable as it is. I hadn't heard much before about…
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Proof of funds for estate agent.
Hi all, Have tried searching to no avail and asked in my first time buyer thread but easily missed in there and not had a response...so... As well as my mortgage in principle, the agent has asked for evidence of my deposit. Because I'm using a LISA this is a slightly complicated picture in that most of it is in my LISA and…
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Disrepair claim
Hello. Im hoping someone can advise me. I started a disrepair claim with a company called McDermott Smith Law Ltd around June 2024. However this company went into administration last year. I thought nothing off it and thought my claim was no longer valid. But someone called me on Saturday the 13th February, claiming to be…
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Last minute paperwork might delay completion
We completed on the sale of our previous property just before Christmas and the week of completion was a nightmare with the solicitor’s compliance team spotting a missing yet important piece of paperwork at the last minute. I managed to get my management company to produce the paperwork and dropped it off personally to my…
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SDLT
I had a house that I lived in for ten years, after which I let it out for 5. I lived elsewhere with now wife who owns a place. If I want to buy a place now, can I reclaim the high rate stamp duty as I have sold my own house less than three years ago. Or am I not eligible because I let it out towards the end of my ownership…
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Buildings insurance, subsidence and a withdrawn mortgage offer
We are now at the point of exchange on a property with a recent (2021) history of subsidence for which there was an insurance claim. Our mortgage lenders have withdrawn their offer based on the fact that we cannot get buildings insurance with an excess of lower than £2,500. As is standard, the mortgage offer states the…
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Land missing from title-future lending problems?
We are buying a property, using a bridging loan, as its being sold under auction conditions. The property has two separate title deeds and the current owners have lived there since the 50’s. They bought the second title in the 70’s (im mentioning this as its before it all went digital) which is ajoining and used as a…
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Additional Property SDLT
Hi, I own a flat that I’ve been trying to sell for the past 3 years, but due to cladding issues I had to rent it out instead. The cladding work has now been completed, but it caused significant leaks which are taking a long time (over a year) to fix. As a result, I can only rent one room, and the affected room remains…
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Transfer in part
I am in the long process of trying to exchange/complete on a house after completing on mine on 12 Dec. In summary, Mr & Mrs developers bought 2 cottages & transferred part of cottage 1’s garden to cottage 2. I am trying to buy cottage 2 & cottage 1 recently exchanged & completed. They have signed the transfer in part…
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Porting mortgage with recent defaults & significant debt
We are with Skipton Building society. Never missed a payment would like to move to a cheaper property (bought our current for £310k & mortgage is £263,000). We’ve seen a property for £280k but in the past 12 months I have had £60k of defaults from credit cards & loans, added to my credit file. Obviously did not have these…
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Buying my first Flat – Concerned About Mortgage Adviser & Solicitor Costs
I’m looking to buy a flat in Gloucester for £117,500 with a shared freehold. I’ve found a property I like and can afford, and I’m now navigating the mortgage and legal side of things. I’ve been advised by a mortgage adviser (working for Nationwide) to go with a tracker mortgage, and then switch to a fixed rate once I…
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100% mortgage with guarantor
I'm wondering if there are any options for a 100% mortgage with a guarantor added to the mortgage ? All of mine and my husbands income is from benefits and child maintenance right now, this could change in the future. The guarantor would be a family member who owns their own home plus 10-15 rental properties but is 70…
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Two failed house purchases
So last year my purchase fell through as seller pulled out and this year I pulled out. So two different agents but both have now gone quiet and don’t seem to want to help with my house search. Obviously after two failed sales I may take a break and perhaps do more work on this house. Obviously I can use another agent to…
