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Hi fellow Hubbers!

We have just got started on our property investment adventure. 

We are nearing exchange on our first 2 properties which we are buying as individuals, as I currently have about 25k before I hit the higher tax bracket.  My husbands income sits just below the higher level.  We are purchasing both properties as tenants in common with a 99/1% split.  

Our solicitor (online conveyancer) has quoted an extra fee of £400 + VAT to prepare our deed of trust for each property to ensure that any benefit from the properties is split equally between us.  

However having looked online I have found that we can prepare one with RocketLawyer.com for a fraction of the cost (in fact first one for free!) and complete the form 17 ourselves too.  

My question is - are we being a bit tight trying to save £1000 by doing this ourselves and possibly missing something important and leaving ourselves open to possible future problems?

Has anyone here used these online document services before or got any advice for us?  We surely can’t be the only ones to have been in this situation.  

I’d really appreciate your thoughts. 

Thanks Pip

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Hello there!

 

I am in exactly the same situation and am very interested to know what decision you made in the end Pip and how you fared?

 

I spoke to my accountant and he suggested having the first one drafted by a solicitor and then using it as a template for future properties as HMRC would then be obliged to accept them?...... is this the case does anyone know??

 

Any other advice or insight would be very much appreciated!

 

Thank you!

 

Jojo

 

 

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