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Found 6 results

  1. Hullo I am currently selling our old house, which we have a HMO license for and was hoping for some advice.... Firstly, Do I need to notify the council that we want to terminate it? Secondly I have just found out that the buyer is going to have to rent whilst they are out of the country. They initially said it was residential, although he clearly plans to flip once he's done it up. I wondered if I could transfer the HMO (there are 4 years left) and potentially get a bit of cash for it? Can't find anything on it so suspect not. We didn't sell it as an ongoing HMO as it is in more of a residential area/property. Thanks in advance
  2. Hi Ive been told by a financial adviser that you can avoid paying stamp duty on property that you transfer into a limited company by claiming it to be a going concern. Has anyone had any experience with this as so far all i read is that you must pay stamp duty.
  3. Hi I was wondering how important it is to most mortgage providers that the name of the person on the mortgage is the same name / joint name as on the deeds of the property. The history is: My wife bought the property 2 years ago We got married 1 year ago The deeds of the property are in my wife's maiden name, ditto with the mortgage My wife used to earn, but no longer does I currently am the sole earner and pay the mortgage Now we need to renew the mortgage (probably with a different provider) So a few simple questions are: Do I need to do some sort of property transfer before I do the mortgage? Can I do the transfer as part of the remortgage or would I be declined the mortgage upfront? If we do a transfer, presumably being joint tenants would be fine, even if I'm the sole earner? Do you know how to do the property transfer? and would there be some Stamp Duty payable if the outstanding mortgage is of 140k and therefore the transfer is of 70k. I'm assuming that given it's our primary property of residence, there would not be. Any answers to some or all the questions above would so gratefully valued! Thanks Chris
  4. Like many of you, I am considering transferring my properties to a Ltd company. I have formed a company and filed an annual return with an acceptable SIC code to show the business is an SPV. What I am now looking to do is to "sell" my properties to the business but I am having difficulty understanding something. If I take just one property as an example: I purchased for £75k and have the same amount outstanding on the mortgage. The property has an open market value of £100k. The business will need a mortgage because it has zero capital as a newly formed SPV. Will a lender understand the situation and allow the £25k equity as the "deposit" or will they require the business to physically have £25k on hand? I understand that there is also the issue of CGT, but for this property at least I have PPR and letting relief so it shouldn't have too much of an impact. I've been scratching my head over this one for a few weeks now so any advice would be greatly appreciated, thanks
  5. Good Afternoon, I've just had an offer accepted on my first property and i currently live in Dubai. Can anyone advise on what the best way is to transfer my money back to the uk? Many Thanks
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