Selling an empty house

tim123456789

jackomdj wrote: »

It is justified as they consider people with second homes as able to afford it. They do not have less lighting bills, less rubbish bin collectors etc just because your property is empty. So litho ugh you don't use it the councils overheads are often not reduced.

No they aren't, but 75% of what the council spends goes on education and welfare and I (or anybody) can't uses these services twice just because I (theoretically) have two houses.

On a fairness grounds HMG have no justification in removing the 50% discount, it's all about spite (something that is normally the property of the labour party)

tim

TexasChainstoreMascara

I'm pretty much forced into this situation.

I'd be happy to rent out the house, despite the tenancy periods and costs incurred with maintenance etc, as it would allow me to protect my investment and allow for any recovery in the market and to build equity in the property over however many years. I bought at a high price in 2006 when you could get a mortgage at the local corner shop, the lender will not allow me to rent because I don't have enough equity in the property.

We could theoretically move back to the property, but it wouldn't be best for us. The lad is in a school local and doing well. I have found out from the council that now he is in the school he wouldn't lose his place because we moved out of the borough, but it would add 2 hours on to our working day going back and forth to pick him up/drop him off. Also, we like the idea of being able to make an offer to buy our rented home to the landlord when finances allow, as we believe it has great potential and our family are settled. In that sense, it is better that we are actually here and it is our home.

It's not a sob story, and I don't expect the council or utility providers to care about my individual situation but what else can I do when the mortgage provider won't allow me to rent it out? That would solve the councils issue of having an empty property on their books.

Strapped

TexasChainstoreMascara wrote: »

Hi All,

I'm looking for some advice on keeping the costs down while selling my house.

As a bit of a background, I own the house with an ex-partner. I moved out 18 months ago to live with my now wife and stepson in an area close to the youngsters school. Luckily my sister was looking for a house at the time while she saved for a deposit for her own home. (The mortgage company were cool with me having a close relative occupying the house). Now she has bought and moved into a house she has bought and my property is empty. It has been on the market for several weeks and has had a steady stream of viewers thus far with no offers as yet.

Now that the house is empty and we're into a new month all of the costs of the house and utilities rests with me until it (hopefully) sells. As I'm sure you can all understand, paying for the empty house and the home my wife and I rent will be tough going. Thus, I am looking to keep the costs down and appreciate any advice I can find.

The breakdown of costs as far as I can see is as such:

Mortgage Payments. Not too bad as the mortgage is interest only and at Bank of England rate. I have stopped voluntary overpayments while the house is waiting to sell.

Life Insurance. Attached to the mortgage, I cannot get any payment breaks or any such like. I either have the cover or don't. Not a risk I wish to take.

Home Insurances. I have landlord cover at the moment, it is fairly cheap and the company have told me once the house has been empty for a certain time frame I am eligible for a reduced cost.

Water. I would like to keep the water on as I will be going back on occasion to clean and maintain the garden pond. The house is not on a meter and the provider (South Staffs) have informed me that the rate will not change from the current price attached to the property account. That's £35 per month for hardly any water being used.

Gas and Electric. I have not got a price as yet but I do have the final meter readings to sort this out. I assume there will be some kind of standing charge and I want to leave it hooked up to run the filters on the garden pond.

Council Tax. The local council is saying there are no discounts for an empty unfurnished house as of April 2013. In fact, if the house is empty for 2 years the cost is 150% of the going rate. I always thought you wouldn't have to pay more than one lot of council tax but that must be a myth. Being a married man I am still unsure if I can even claim single occupancy in such a case.

Is there anything missing here? Does anybody know how I can reduce any of the costs or if I am eligible for any discounts that the providers won't voluntarily inform me of? Is there anybody who has been in a similar situation?

Thanks in advance for any help.

If you have made past overpayments on the mortgage, will your lender allow you to now take a break from payments until the "over" is used up?

Strapped

tim123456789 wrote: »

No they aren't, but 75% of what the council spends goes on education and welfare and I (or anybody) can't uses these services twice just because I (theoretically) have two houses.

On a fairness grounds HMG have no justification in removing the 50% discount, it's all about spite (something that is normally the property of the labour party)

tim

The education budget comes directly from central government. Local councils can in theory add to it from council tax revenue, but in practice, I've yet to find one that does. So the education argument re. council tax is a completely invalid one.

I can't comment re. welfare because I haven't worked with welfare budgets.

If the OP was a dishonest man, he may of course consider "moving back in" which would render both his owned house and his wife's house single-person households, qualifying for CT discount at both. But that would be fraud and I would never suggest doing that.

Strapped

Also - drain the pond.

TexasChainstoreMascara

Spoke to the water provider today.

Apparently there are prices set for certain areas of what the water companies can charge. Therefore while my house is empty I will be charged exactly the same as the previous occupant, £33 per month. I've asked for a meter to be fitted but they say that could take 90 days, so the best part of £100 in the meantime while essentially no water is being used at the property.

xylophone

I own the house with an ex-partner.

Is the joint owner not contributing to costs?

Ms_Chocaholic

TexasChainstoreMascara wrote: »

Spoke to the water provider today.

Apparently there are prices set for certain areas of what the water companies can charge. Therefore while my house is empty I will be charged exactly the same as the previous occupant, £33 per month. I've asked for a meter to be fitted but they say that could take 90 days, so the best part of £100 in the meantime while essentially no water is being used at the property.

Even if they take up to 90 days for the meter to be installed, in my area the metered charge is backdated to the date the application was made for the meter.

TexasChainstoreMascara

Joint owner is not contributing to cost. I lived alone in the property for a couple of years after the split during which time we signed an indemnity agreement, this meant she doesn't have to contribute anything to the house but also receives nothing from any future sale of the property, although her name is still on the mortgage with the lender. I did try and remove her name and have the mortgage in my name alone (without re-applying) but their response was 'No, it is of no benefit to us'.

How did you find out about the backdated meter charges? I would be happy with that as it would probably mean a rebate at a later date. What is annoying me is the idea of paying full price for utilities and services that I'm just not using.