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Help2Buy - buy parking space
bdc1981
Posts: 1 Newbie
Hello,
I bought my flat under the government help2buy scheme in London. HM Gov owns 40% of the market value of my property.
A parking space was £20k optional extra I could not afford at the time.
If I were able to convince someone in my development to sell me their parking space and I covered the entire cost - would HM Gov own 40% of the value of the property inclusive of the added value of the parking space?
I understand that this might come under something known as a 'Deed variation.' Would it be possible to perhaps transfer a parking space to a separate and distinct deed? Obviously I would not be keen to pay £20-25k and immediately handover 40%
Thanks!
I bought my flat under the government help2buy scheme in London. HM Gov owns 40% of the market value of my property.
A parking space was £20k optional extra I could not afford at the time.
If I were able to convince someone in my development to sell me their parking space and I covered the entire cost - would HM Gov own 40% of the value of the property inclusive of the added value of the parking space?
I understand that this might come under something known as a 'Deed variation.' Would it be possible to perhaps transfer a parking space to a separate and distinct deed? Obviously I would not be keen to pay £20-25k and immediately handover 40%
Thanks!
0
Comments
-
The parking space would be on a different/separate title.
As such, you could sell it, or hold onto it, when you sell your flat.0
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