Repo experts please help me !

Uk_Lover

paddyrg wrote: »

Thought - if it's owned by a bank, will they offer you a mortgage with the 66yrs as it still gets it off their hands

don't need a mortgage and extending the leasethanks

Uk_Lover

maryroberts wrote: »

In answer to your question - the Public Notice (in our case) appeared 3 days after our offer was accepted, on Rightmove and the Agents website. We were fortunate that no-one else came forward with a higher offer, and we exchanged contracts bang on 2 weeks later and received the keys 3 weeks to the day after first viewing! Hope you are lucky with your purchase too.

thanks, yeah seems so quick, just goes to show that a property purchase can go through quick when they want!

Uk_Lover

Sorry another question.If I get lucky with this , stay for the duration of my contract (3 to 6 months but who knows could be more or less!) then sell up, will I be liable for CGT if I make it my permanent residence ? Seeing that I will be living there 5 days a week, I would see this as my permanent residence, would the tax man think that too ? obviously will have to change my bills etc but not sure of rules as I do own a house with my GF. Also I'm sure I read somewhere that any money I spend on building work etc is off set against any gains tax. Is this right ? If so would the lease extension money be taken into account too? One final question, would it be better to buy the flat in my name only or between my self and my GF or does it make no difference.thanks