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Fixtures and Fittings
fivemice
Posts: 251 Forumite
Can you add the cost of fixtures and fittings onto your mortgage?
Also - does anyone have any tales of sellers being funny over F&Fs? I want to make sure we've remembered to ask about everything - curtain poles/light bulbs/built in appliances etc!
Also - does anyone have any tales of sellers being funny over F&Fs? I want to make sure we've remembered to ask about everything - curtain poles/light bulbs/built in appliances etc!
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As far as I know lenders would not accept this, although someone may come along & tell otherwise.
This wouldn't have anything to do with buying a property just under the stamp duty level would it?Thanks to all who post comps :A :T0 -
It would. We think the seller wants between £125K-£128K. If we could get him to take £125K for the house but offer more for F&Fs that would be good, especially since he's leaving a new shed and a summerhouse, but we'd have to whack it on our mortgage.0
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I would get advice from your solicitor on this. As I understand it the tax authorities take a dim view of this as they see it as tax avoidance, and you cant really dispute that if you have borrowed on the mortgage for it.
I'm not trying to put a spanner in your works, just dont want you to get into trouble further down the line. Have a chat with EA also about other ways to solve this. How about Vendor pays 1/2 Stamp Duty?Thanks to all who post comps :A :T0 -
Ok thanks Rach, will have a chat with them about it
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Lenders work out Loan To Value ratio on value of Property excluding any chattels etc paid for separately. They can't have any security on them so they don't count in the calculation. So if you can get 95% loan it will be 95% of £125K.
As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clients.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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