Owning your own home

That living room looks like some sort of art installation. Amazing.

Pointless, you wouldn't see it through the leg hair.

@7ven SW. If I was more specific it would only confirm me as a cliché, and that would hurt my feelings. This particular rural market's gone nuts since COVID though, so need London to pick up some slack to keep the dream alive. It's either that or accept @amey 's prophecy and come to terms with the fact that I'll live in Catford until I die. We've been doing a lot of walks in the Further Green vicinity and I'm yet to spot a front garden filled with hydrangeas, or a distinctive fence acorn cap, even after clocking your front door and smiling face on instagram. One day I'll work out exactly where you are...

What are the downsides of simultaneous exchange and completion? Is it mainly the lack of certainty on organising stuff, chance of losing on moving fees, etc or some bigger risk?

Someone down the chain is insisting on a covid clause and this is an option to stop that disrupting anything but I'm not particularly keen.

Kinda Leytonstone dream house just went up for sale - 5 days before we're due to complete :'(

Never look at listings once you’ve exchanged 🤦🏽

Show me! I'm still in a semi move to leytonstone dream

https://www.zoopla.co.uk/for-sale/details/55538551?search_identifier=e84fa54f0e51a8129d63580335be8896

Now you tell me! 😭😭

Thanks.

Not that bothered about the house but the garden and shed are awesome.

Stuck-up Bushwood ponces. You want the real, gritty Leytonstone south of the overland railway line.

That’s where I am now! 😂

What are the downsides of simultaneous exchange and completion?

As you say, it’s mostly that you don’t have certainty the move will happen before you have to hand over the keys. Makes it hard to plan removals etc if you are in a chain. There is a risk you end up homeless if you have sold your house without managing to buy another.

If you are an FTB / cash then it’s probably fine.

I think I could live in that shed!

Yeah, it looks fully functional

I'd love to see @amey take this on as a restoration project.

Hah still has the coal cupboard toilet

Buy it

The stories about the epic scale of the dog poo problem in Leyton in the Bastard Neighbours thread has put me off a bit

Also north facing garden. Not that it matters too much when you have the flats opposite I guess but it's gonna piss you off after shelling out £1.4m for it after the Stow Brothers have had their way.

I do like that a lot. If my son wasn't starting at one school in Stoke Newington and my wife teaching in another, would seriously consider moving for that.

I have a query so wondering if anyone has been in this situation before.

Person B looking at getting a property and rent out. B2L quite possibly and will be classed as a FTB

They’re looking to do with Person A (relative) who is a homeowner

Is there anything they need to also take into consideration? From what I’ve read this will be a second home for person A(?)

The rental income will need to be declared and tax paid on it via SAR(?)

Does person a need to be in on it for mortgage finance reasons and do they need to be on the title deeds?

That said it’s unlikely you can gain the various FTBer incentives when applying for a btl mortgage

Obvs. all rental income gets declared and goes on tax return, can be split across person a and b depending on how the ownership of the property is put together.

So, the sale of my flat might have collapsed today because of the new legislation around completion of the EWS1 form.

https://www.insidehousing.co.uk/comment/comment/the-ews-process-has-brought-paralysis-to-the-housing-market-it-is-the-result-of-a-lack-of-joined-up-thinking-66563

This is a disaster for me as the money I have tied up in my flat needs to pay for the refurb of my house. I'm spending my savings cash at a horrific rate and things are going to get really bad really quickly if I can't sell this flat.

I feel so exposed.

My flat does have cladding to one elevation of the block but is neither over 18m tall or a significant risk to life. The lenders should be lending against this, but they're not.

Thats my undertstanding that lenders are applying it to all flats regardless of block height, a collegue at work has had a nightmare due to cladding on the flat block they are in and caused them an incredible amount of stress as they were hoping to move