Owning your own home

I'm looking at a loft conversion in SE4, hit up; MPRM, Loft Life, Outlook Lofts.
Any other suggestions?

I'm after a conveyancing solicitor to draw up a deed of trust, setting out how Mrs Sparky is buying part of my flat. Any recommendations? Does anyone know roughly what it'll cost? We'll also need wills, so that the other half gets the rest of the flat if the worst happened.

Also, does anyone know how stamp duty will work? Presumably if she's taking on 25% of the flat, she'll pay 25% of the stamp duty that would be due on the sale of the whole place?

Unless it's not your main residence, there's no stamp duty required on sale of a property; only purchase.

But Mrs Sparky will be buying 25% of it... Until now it's been all in my name. I bought it before we lived together. We're now looking at dumping her savings into the mortgage and making everything official.

Will 25% of it be above £125k? That's the only way it would incur stamp duty...

Nope.

Good news then.

Unless she has a second property, she'll only incur stamp duty on any amount above that threshold.

I'm using Parker Arrenburg for conveyancing. I think they're a bit expensive but have a good reputation and I went with them partly for convenience (they're on Rushey Green). I also spoke to Cook Taylor Woodhouse who seemed ok too. I've only just started the process though, so don't know much about it. The actual conveyancing fee is £400+VAT, Land Registry £135 - the total will be around £700 but I'm guessing there are more things to do with remortgaging etc.
https://www.gov.uk/guidance/sdlt-transferring-ownership-of-land-or-property
stamp duty is payable if the 'consideration' is over the threshold (ie. 25% of flat > £125k), it's not to do with the total value.

That's good to hear. Makes it even more tenable as a short-term solution. We're both still keen to move, but want to sit out Brexit and see what happens. If she was double-paying stamp duty it wouldn't be ideal.

the other half gets the rest of the flat if the worst happened

That's a tad bit dramatic for the cancellation of The Archers.

I used farewill.com for my will. Easy and cheap, would recommend. When I did mine it was pretty easy to find a discount code as well which made it even cheaper.

The mortice saved you but aren't there some regulations about not having a key operated lock on a communal door? Perhaps it's only on new builds or something, anyway, based on this, I'd just keep schtum and carry on using it.

Fire regs allegedly, although I'm finding conflicting info if it is a secondary lock (if it's the primary lock it has to be unlockable from the inside without a key).

Some mortice locks already can do either (key or thumbturn) it just depends on how it has been installed; some are key only.

Similar position myself as we share a outer door with the flat upstairs and that has a key only mortice lock on it.

Spotted by a seemingly empty cottage today by Llanddona beach,
#Anglesey. A touching tribute.

https://twitter.com/robs001/status/1081922485531144192

Are there any other recommendations for forum-approved solicitors recently?

Last time we went with Martin Browne, the unofficial LFGSS conveyancer, but he's retired in the meantime and I remember reading some less-than-positive ratings of Gisby Harrison on here too.

I tried to UTFS but I just got @Hairingtons @Stonehedge and @rogan horror stories so now I definitely want someone who's had good dealings before.

@Sparky
@tommmmmmm
Had a good experience buying/selling with Kavitha Rajah at Amphlett Lissimore based in Bromley recently. Very on it.

Thank you!

Based on my experiences and recent father in law’s a decent solicitors firm that is local to you so you can go in and hassle them as required

How does the stamp duty work, I presume you can gift her the part that you own equity on, but its the mortgaged part that she is buying from you that is eligible for stamp duty? Is that correct?

Selcom.

MPRM are ££££££

We used loft life. So did everyone on our street. Happy to share experiences.

Yeah that’d be great. MPRM backed up by quality? Roughly how much more was their quote?
I’ll look at Selcom.

From what @Soul says, you just treat whatever slice of the place she's buying as a purchase. So if that chunk is large enough to breach the stamp duty limit, you have to pay. But the slice we're talking about isn't big enough to breach that limit.

I'm sure I'll get a proper steer from the conveyancing solicitor in time - they're the ones who handle the calculation and payment of stamp duty, right?

Yeah they will guide you.

I always thought you could just "gift" it, rather than her paying for it, and since no money is changing hands then no stamp duty is payable.

Got a referral code for Farewill? Should get money off for you and me both.

Thanks, that could have been a missed opportunity.
https://farewill.com/r/christopher-65294

I had a quote from a local fitter of £1250 for three windows 80cm x 150cm-ish

he uses real wood and is a one-man-band which is why I think (hope) he's pricey

I've got Hillarys and Utterlyshutterly coming over in the next fortnight to give quotes so I'll let you know if the bigger companies are any cheaper...