House Buying: Important Threads

Slithery

Please start your own thread, this one is for information only, not answering questions.

jevans1998

Hi, i hope this is the correct thread for my question, i'm new to the forum so please bare with me. 
 Currently i do not own any property (I am 22 years old) however I am in a position where i am able to put a deposit down on a flat of which i would be looking to rent out. Am i allowed to do this? i was informed by someone i would need to apply for a buy to let mortgage and that i wouldn't even be considered being as this would be my first property. However i was also informed by someone else that i am able to do this but it just depends on my lender and the size of my deposit. 
Any clarity on buying to let as a first time buyer would be much appreciated. 
thanks!

hazyjo

Slithery said:

Please start your own thread, this one is for information only, not answering questions.

@jevans1998 - please start your own thread (I have quoted the post immediately above yours). Thanks.

JohanXV

Good advice. Thank you

Bad_Accountant

I'm going to bung my link to top interesting/entertaining threads here. Hope this way it won't get lost. Mods, delete if not appropriate.

https://forums.moneysavingexpert.com/discussion/6223749/house-buying-renting-selling-my-top-threads-of-all-time-guess-whats-number-one/p1

nmpk24

I just had my flat on the market for sale. Found a buyer through an agent, agreed a fee. Their surveyor came. My solicitor did all the legwork. To my knowledge there were no issues.

Then the buyer pulls out over 2 months later for some stupid reason ie. excuse. Now I am ending my contract with the estate agent but they are now telling me I have to give them 28 days notice? Even though their client is responsible for backing out and wasting 2+ months of my time? This is utterly ridiculous. I know by law there's not much I can do about the 'buyer', except in Scotland maybe. And if I had pulled the plug on the deal I would understand, but I did not. How are these agents allowed to do this? Surely their contract should be deemed null and void when this happens, if their buyer backs out. What if they don't vet these people adequately? Plus they still have my property for sale on their web site after I have formerly ended my relationship with them and I asked them to remove it several times. Has this happened to anyone else?

hazyjo

Please start your own thread. This is a sticky.

Thanks.

owendm

New Help to Buy Scheme seems to prevent first time buyers benefiting from Stamp Duty Holiday !     My son is looking to buy his first flat using Help to Buy and wants to benefit from the Stamp Duty holiday and complete before 31 March 2021.  However it seems the new HTB scheme only allows for completion after 31 March therefore after the holiday ends.   This seems totally unfair to first time buyers and adds £1000's to purchase costs.  Surely this is an oversight and not by design ??   

youth_leader

I understood FTB didn't pay stamp duty for properties up to £300K? 

Stamp Duty Land Tax: relief for first time buyers - GOV.UK (www.gov.uk)

owendm

Yes very true.  But I'm afraid in London there are no properties anywhere near that price.  Cheapest new 1 bed with HTB is near £500,000 and upwards to the London HTB max of £600,000.   Crazy I know but that is how it is here.