Paying long term vacant council tax fees during a pandemic

Aranyani

In what way has your income reduced?

Thrugelmir

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

d4rr3n

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

No I think I will live there rather then make a huge loss through a hasty sale. I dont think your advice of sale at this time is a sensible option. 

Takmon

d4rr3n said:

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

Thrugelmir said:

d4rr3n said:

Thrugelmir said:

d4rr3n said:

SpiderLegs said:

d4rr3n said:

I was saving money to do it up until this pandemic hit. My plan was to move in since I am currently renting. I have not become jobless but like most people my income is much reduced. 

That plan was illogical. saving money by paying rent whilst maintaining another empty property?
How much have you saved up in the few years you have owned this house?
presumably quite a bit. Your income has only taken a hit in the last nine months so I don’t see how you can blame a pandemic for this.

The house needs quite a bit of work. To be precise I am not renting rather I rented out my home and have been staying in a room within that property so to save up. I have saved up but not enough to do the house up but probably have enough to make it liveable for myself. Will just have to live in it as I do it up.

That's the downside of leveraging up.  Not the Council's issue. You need to make the decision that's best for you.  Why not sell your rented home and release the equity? 

I dont think selling now would be a good idea do you?

You are the one under financial duress. How much capacity do you have to sustain further unexpected outgoings or a shortfall in income?  

No I think I will live there rather then make a huge loss through a hasty sale. I dont think your advice of sale at this time is a sensible option. 

Why would you make a huge loss? I have seen many properties go up in price recently due to the stamp duty holiday.

gary83

we’re currently having a housing market boom, fuelled by no stamp duty & people wanting more space either due to working from home or feeling cramped during lockdown.

https://www.theguardian.com/business/2020/nov/06/uk-house-prices-jump-as-average-home-tops-250000-for-first-time-covid

if you bought it a few years ago and haven’t done anything to it why would you expect a huge loss, unless you overpaid in the first place? 

Hasbeen

gary83 said:

we’re currently having a housing market boom, fuelled by no stamp duty & people wanting more space either due to working from home or feeling cramped during lockdown.

https://www.theguardian.com/business/2020/nov/06/uk-house-prices-jump-as-average-home-tops-250000-for-first-time-covid

if you bought it a few years ago and haven’t done anything to it why would you expect a huge loss, unless you overpaid in the first place? 

I was under the impression the advice given now was to sell off the existing OPs  house that he bought in 2001 for £470,000. ?

Mortgage now paid off.

He is living in a studio there and currently renting out the rest.

The profit could be used to renovate the empty house that is now being charged the C/Tax on.

Or sell the property that requires renovation? but the OP wants to keep that as well.