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The Broker Blues Thread
Comments
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They'll get the surcharge as he will have 2 properties on the day of completion and he isn't selling his main residence.
That's my understanding of it.
Maybe the solicitor knows better as shes selling his main residence?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Wife owns the property he lives in, so she is selling her main residence and her portfolio will go from 1 to 1.
However, a married couple is classed as a unit so the fact that one of them will increase from 1 to 2 means they get hit.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
He will own two properties at the end of the transaction.
The property being purchased is not replacing his main residence.
He pays the extra SDLT.
They will own two properties at the end of the transaction.
She is selling her main residence to buy a new one so does not pay the tax.
I have no idea which situation takes precidence.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
This is a tax from the government, which one do you genuinely think will be given precedence?
Sure we have one like this and they were told it was the additional surcharge..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I think the "married couple is a single unit" phrase clinches it for me.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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In your case above the 'unit' is selling one home and buying another = no surchargeI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Maybe the solicitor intends putting the existing main residence into joint names before sale, so 2 -2 doesn't increase. Shrugs. solicitors problem not yours.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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I am going to hunt down and kill the first born of the next pi**ock who sends me a do you want a mobile credit card machine spam email !!!
And as for that woman who keeps sending (over the last 12 months) an I've decided to sell my entire email list stock to a small number of selected purchasers at a special price because of vague reason 1 / vague reason 2 / vague reason 3 - there is already a contract on her head !Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Its not just me then?
I am getting about 10 in my spam a day.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
... and no we are not doing any more lenders surveys !!!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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