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Sold in England, bought in Scotland - it can be done!
Nan_Dingle
Posts: 166 Forumite
The Dingle household has relocated north of the border over the summer. A few stressful moments, but it can be done!
Signed up with EA in England 19th July, exchanged 18th Oct, completed 19th Oct
I Scotland, made formal offer 14th Aug, got vacant possession 21st Sep.
Helped that no chain at either end, sold out to a BTL LL :embarasse, bought from vendors who were going to rent while they looked for 'forever' house.
Accepted 13% under initial asking in England, bought at 7% under Homebuyer Report price in Scotland. The sold price in England was maybe 25% less than the 'all time' peak valuation of 2007, however I'd bought in 1990 so equity wasn't an issue.
So took a 'hit' on the difference, but doing so allowed me to remove furniture, faster pay-off of loans and minimise cost of keeping two houses going, plus avoiding time/cost of shuttling between Scotland and England. If I'd moved "down the road" would have kept property on the market, but 350 miles away...
BTW I as expecting a 'gazunder' from BTL LL on day of exchange, but fair play to him he played a straight bat.
Signed up with EA in England 19th July, exchanged 18th Oct, completed 19th Oct
I Scotland, made formal offer 14th Aug, got vacant possession 21st Sep.
Helped that no chain at either end, sold out to a BTL LL :embarasse, bought from vendors who were going to rent while they looked for 'forever' house.
Accepted 13% under initial asking in England, bought at 7% under Homebuyer Report price in Scotland. The sold price in England was maybe 25% less than the 'all time' peak valuation of 2007, however I'd bought in 1990 so equity wasn't an issue.
So took a 'hit' on the difference, but doing so allowed me to remove furniture, faster pay-off of loans and minimise cost of keeping two houses going, plus avoiding time/cost of shuttling between Scotland and England. If I'd moved "down the road" would have kept property on the market, but 350 miles away...
BTW I as expecting a 'gazunder' from BTL LL on day of exchange, but fair play to him he played a straight bat.
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Comments
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Well done and hope you are happy in your new home."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
Well done, enjoy living in Scotland, your mailbox will soon start to fill up with junk mail from either side of the independence debate!
I'm intrigued as to why you thought there might be an issue with what you've done, given that many thousands of people do the same thing every year. Was your solicitor (or solicitors if you used different ones in each country) dubious about the process?0 -
your mailbox will soon start to fill up with junk mail from either side of the independence debate!
I shall vote based on impact on house prices!0 -
So "Man with enough money to buy 2nd house before 1st is sold says anybody can buy a house"?
Or did I miss something?0
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