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  • Buy-to-Let

    Purchase costs have increased over the years

    I always go for 2 year fixed- as I don’t want to lock myself if market changes and etc.. never regret yet.. Valuation almost all the time is free- covered by lender.. I only had to pay for last valuation
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    I use a five year cycle as One Five year fix ends I ask for another 5 Year fixed

    I like stability I remember when interest rates were 15%


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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Hi dislexic-landlord,

    I'm new to this site so please bear with me. 

    My goodness I am only a few miles south of you but properties cost twice as much here.

    What kind of purchase is this as I don't understand why a valuation fee on a purchase, is it a mortgage valuation?

    What is Directors Guarantor Advice for Landlords?

    Stamp Duty is a real stinger.  I managed to push for a property to go through the month before additional property stamp duty changed with a stamp duty of £500, a year later the stamp duty bill on a property costing £2k more cost me £5,100 - Ouch!

    I thought the fees look quite good for today, but yes I can certainly see what you are saying about the increase over time.  I use an online conveyancer as I like to be very much in touch and upto date with everything, they may be very slightly cheaper but otherwise on a par with conveyancers on the high street.

    Is there a company that landlords tend to use?




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    What is Directors Guarantor Advice for Landlords?

    When a compant takes out a mortgage for resiidential property the lender will want the directors to  give a personal guarantee for the mortgage. If something happens and the lender is  looking for the director to pay according to the guarantee they do not want the director to be able to claim that he was not properly advised about it. So the lenders insist that direcotrs get advice about the guarantee from an independant solicitor.

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    This probably won’t make the pain much easier but don’t forget you will get some of this money back later as you can offset the costs against your capital gains tax when you end up selling.
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    Good thread - I find it amazing how it is pretty normal for arrangement fees for mortgages to be around the 2K mark.....back in 2008 I remember paying sub 500......

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    I have noticed this too

    Valuation fees were around £250

    and arrangement fees around £500


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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.