We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
We're aware that some users are currently experiencing errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.

Splitting 1 Property in to 2 and Selling 1

13

Comments

  • jet77
    jet77 Posts: 1,586 Forumite
    Sorry Robwend have now looked back through thread and understand why we need to know about your spellchecker - I missed a bit when PC crashed!!
    JUST DO IT ONE BRICK AT A TIME
    PROUD TO BE DEALING WITH MY DEBTS
    Weekly Budget: groceries£50/petrol£50/Unnecesary£15
    DEBT PAID = 58% (£4,212/£8216):T
  • jet77
    jet77 Posts: 1,586 Forumite
    Doozerbird - sorry, totally missed your message - I'm a beginer at this and half asleep as u may hv gathered!! - If you could get me some numbers that would be a sooooooooooooooo helpful coz am stumped as to who I can trust and who's just out there to rip me off - it's hard to know who to trust
    JUST DO IT ONE BRICK AT A TIME
    PROUD TO BE DEALING WITH MY DEBTS
    Weekly Budget: groceries£50/petrol£50/Unnecesary£15
    DEBT PAID = 58% (£4,212/£8216):T
  • jet77
    jet77 Posts: 1,586 Forumite
    Robwend - why am I an ANAL newbie? Is this MSE talk? (- see am slowly learning - MSE!!)
    JUST DO IT ONE BRICK AT A TIME
    PROUD TO BE DEALING WITH MY DEBTS
    Weekly Budget: groceries£50/petrol£50/Unnecesary£15
    DEBT PAID = 58% (£4,212/£8216):T
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    :rotfl: @ "Doozerbird" and the spellcheck comment.

    You can stay. ;)

    :D
    Everything that is supposed to be in heaven is already here on earth.
  • jet77
    jet77 Posts: 1,586 Forumite
    Ta - r u still up in Brum Doozerbird? and have been reading some of ur input in the other threads and u seem pretty clued up - wd love 2 know more about ur conversion :D
    JUST DO IT ONE BRICK AT A TIME
    PROUD TO BE DEALING WITH MY DEBTS
    Weekly Budget: groceries£50/petrol£50/Unnecesary£15
    DEBT PAID = 58% (£4,212/£8216):T
  • jet77
    jet77 Posts: 1,586 Forumite
    sorry again it's Doozergirl not Doozerbird!!!!! maybe i am an ANAL newbie!!!! duh ...
    JUST DO IT ONE BRICK AT A TIME
    PROUD TO BE DEALING WITH MY DEBTS
    Weekly Budget: groceries£50/petrol£50/Unnecesary£15
    DEBT PAID = 58% (£4,212/£8216):T
  • Jay-Jay_4
    Jay-Jay_4 Posts: 7,349 Forumite
    1,000 Posts Combo Breaker
    robwend wrote:
    oh another ANAL newbie,


    A bit harsh.... we were all newbies once ;)
    Just run, run and keep on running!

  • robwend
    robwend Posts: 2,919 Forumite
    lol its late we can all be excused,hope you all have a good day tommorow luv y all xxwend:kiss:
    You're not drunk if you can lie on the floor without holding on
  • Ian_W
    Ian_W Posts: 3,778 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    in fact I don't even like her coz she keeps trying to eat Gnasher
    Let her, she's only being playful!!:D
    ... and it's one less pet to walk and feed. ;)

    Reference CGT, like Bob I don't believe you'll be liable as it started out as your principal residence which is exempt. You had better seek profesional advice though.

    The other issue is if converted what would be the residual value of your place if you convert? What I mean is if you can sell the bottom flat for £70K and it's cost £30K to convert [Bob thinks more?] then your profit is potentially £40k - but if your remaining flat loses £30-40k in it's value, is it then worth doing? You're also going to have to consider how to finance it if the equity in your property doesn't allow you to do it through a remortgage.
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    jpet77 wrote:
    Ta - r u still up in Brum Doozerbird? and have been reading some of ur input in the other threads and u seem pretty clued up - wd love 2 know more about ur conversion :D

    You can call me Doozerbird if you want to! I am near Brum, yes. Strangely, the conversion was done when we still lived in London and you probably don't want to hear about it!

    If you had the option to do something else with the house, I'd say don't bother with it, but if it's your house and it's worth more as two flats then I'd still do it myself :). Our conversion is in Edgbaston and it's still standing! :T
    Everything that is supposed to be in heaven is already here on earth.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.5K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.4K Work, Benefits & Business
  • 604.2K Mortgages, Homes & Bills
  • 178.5K Life & Family
  • 261.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture