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Please help I'm buying a house for the first time
Comments
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Will she?glasgowdan wrote: »If you come off your mum's mortgage and make the new house your sole property within a certain time period after buying g it you'll be able to apply for a refund of the extra 3%
Do we know that her mother's house is currently her main residence? It doesn't say that in the post, and the way she refers to "mother's house" suggests not.0 -
For future readers, another reason why you shouldn't buy a house with your parents, it makes it very difficult to buy your own house if you don't have the money.
What if your mother can't afford to pay or stops working due to ill health, can you afford to foot their half too??? It will affect your own credit file too if this happens
Not every good intention have a good outcome in this case.
Beware of auctions, they are there for a reason, unmortgagable, short lease, structural issues e.t.c?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I didn't buy a house with my parents. Do not assume my situation or my mothers.0
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Anyway thank you for all the helpful information, everything is a lot clearer to me now.0
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I didn't buy a house with my parents. Do not assume my situation or my mothers.
The point is, if you're on the mortgage, then you will be liable for extra stamp duty. And if the property you are on the mortgage of is not your main residence (or hasn't been within the last 3 yrs, I think?) then you will not get this back if that property is sold.
If you give people here a rough idea of your/your partner's income, the auction price, the price of the property of the mortgage you have jointly with your mother, then people may be able to make other suggestions.Mortgage - £[STRIKE]68,000 may 2014[/STRIKE] 45,680.0
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