Terrible time with council tenant and shock at how law treats landlords15:32 PM, 9th January 2019
About A week ago 40
10:15 AM, 19th January 2016
About 3 years ago
Due to events outside of our control we exchanged on an off-plan new build apartment on 1st December 2015.
Our Developer has now delayed to a new estimated completion date of May/start of June 2016. I called HMRC and they said we must pay the additional stamp duty.
Our BTL interest-only mortgage was also booked 1st December 2015 and is valid for 6 months (partly why we exchanged around this time). There is a good chance our mortgage offer would have expired by then.
Any advice relating to either issue?
Would it be in our interest to reapply for a new mortgage, in say March? (Obviously we would lose the booking fee). We signed a reservation agreement agreeing to the purchase price in July 2015. The property is located in London and surely the property’s value and/or the expected rental income would have increased? We got 60% LTV but would prefer higher.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More