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First time buyer - LISA - £450k threshold query
Good afternoon all, Me and my partner are currently saving for our first home and both have LISAs. For obvious reasons, we're going to be buying a property for no more than £450k, but what I haven't been able to work out is whether the restrictions apply to property sale price or the mortgage which we will take out. We are…
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Escalating ground rent - RPI
I've recently had an offer accepted (£320,000) on a flat with an escalating ground rent clause and I'm unsure whether this could cause issue later down the line when it comes to selling. The ground rent is currently £500 PA, increasing every 10 years inline with RPI. The next review date is December 2026. This will be the…
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100% Second Home Surcharge Council Tax
Hello - I own a property jointly with my father which we live in with the rest of our family. We both do not own any other property. For some reason I received my council tax with a 100% second property surcharge which I believe is incorrect. Can someone help with this, I believe this is an incorrect charge, or is there…
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Change of House Name
Hi all, We've just exchanged contracts on a house, and should be completing next week. Currently the house has 'Guest House' in the name of the property. We won't be running it as a guest house moving forward, does anyone know how to change this? It appears as this everywhere you search for the house. We will be based in…
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Ex local authority flat please help
Hi I need so guidance to hopefully put my mind at rest. I have made an offer on a flat and I am going through the formal mortgage application. I am extremely worried about this because it is worrying I have good credit and I thought I would reassure myself by reading the lending criteria of virgin money. To me great…
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New build defects
Hello So I moved into a ground floor flat in November 2022 it is in a block of 4 flats that had been newly converted from a previous office. When I purchased it was leasehold and I noticed an issue with one of the windows which seemed to be leaking at the bottom corners not much but I contacted the developer and he gave me…
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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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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…
