First Time Buying, Excited!!!

jimbog

Willen is nice - great to have the lake so close

Dan-Dan

also , if you get bored of Willen Lake , caldecotte lake is only 5 minutes down the road!

SolemnSolitary

Dan-Dan wrote: »

I hope you scraped under the SD threshold ?

What does SD threshold mean?

If you are refering the 3% stamp then yea, we offered 250 000

I_have_spoken

is it normal to ask for a list or am I being pedantic?

Totally reasonable to ask for that, if you are pennies under the stamp-duty threshold you should keep that list of what F&F you paid £1.5k for in case HMRC decide to stick their unwelcome nose in to audit it wasn't a bung to the vendors.

Dan-Dan

SolemnSolitary wrote: »

What does SD threshold mean?

If you are refering the 3% stamp then yea, we offered 250 000

Good stuff !

MarkBargain

SolemnSolitary wrote: »

We ended up getting a 4.7% with 11% deposit and no fees at all.

It's still a little high. I ran the figures through Nationwide's calculator and it came out as 4.54% fixed for two years then 3.99% variable (£99 fee). Do keep your mortgage under review to ensure you get the best deal, as a small difference in the rate could make a real difference to your monthly repayment amount.

Yorkie1

One of the documents which the sellers have to complete is the fixtures and fittings form, which sets out exactly what the sellers are leaving behind and the amounts they are charging for any item.

Your solicitor should have this and, if s/he hasn't, then chase him/her for it.

Depending on what has been left behind, £1.5K may or may not be deemed a reasonable amount by HMRC - who scrutinise such matters closely given that you're paying the threshold of stamp duty.

It is vital that sufficient items are being left which merit £1.5K being spent - at second hand / ebay prices - on them rather than just a seller's attempt to get you to circumvent the stamp duty rules. This is why it is vital that you have an itemised list.

If HMRC disagree, then you will end up paying stamp duty on the full £251,500. Make sure your conveyancer is happy that you are not running a risk with stamp duty and the amount / items concerned.

SolemnSolitary

I have requested our laywers to get us a list from the Vendors:)

however 1.5K doesn't seem that exccessive, as according to this
http://www.ourproperty.co.uk/guides/fixtures_and_fittings__what_to_leave_and_what_to_expect.html

Baths and Kitchen units ect consitute as fixtures which would be worth well over 1.5

The kitchen has a built in dish washer wine cooler and stove. fairly modern bath room and a ensuit.

hellokitty08

Personally I have not had good expereince with countrywide, they werent very proactive. Took them about 4 months to process a buy and a sale. That was with them working for the seller and buyer!

SolemnSolitary

hellokitty08 wrote: »

Personally I have not had good expereince with countrywide, they werent very proactive. Took them about 4 months to process a buy and a sale. That was with them working for the seller and buyer!

Yea... I have heard quite a few stories just like yours...

CountryWide happens to be the sellers laywers as well.
Right now we are waiting for the to give the A OK on the Mortgage which we have no sent every bit of paper work they have asked for and also have been in direct contact with the Lender as the Broker is "too busy" to contact the lender at the moment.

And they say now the only thing outstand on their end is they are waiting for reponses from the Vendors on general enquries/local authority enquries and the now the List of the Fixtures and fittings which I had to call them and request them to get.