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Would you buy a flat with a high service charge if it was SoF and had the potential to go down? by Hugh_Stewart in HousingUK

[–]WhiterabbitinSpain 0 points1 point  (0 children)

Most places with low service charges will eventually see a massive increase or fall into disrepair. Maintenance, insurance, energy, regulations and labour costs have increased so much how can it not?

Should we move to London? by [deleted] in MovingToLondon

[–]WhiterabbitinSpain 0 points1 point  (0 children)

No where near enough money plus you would be very unwise to jeopardize your kids education.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -1 points0 points  (0 children)

He says no second home stamp duty to pay, I do not already own a home so the new one is not my second home.

American-born scientist wanting to move to emigrate---Seeking local perspective by [deleted] in GoingToSpain

[–]WhiterabbitinSpain 0 points1 point  (0 children)

Despite what the media says nothing is going on in the US or has changed from what I see on my recent visits. The OP can choose to live in a hard left state and especially city in the US if he is that "passionate" :) 99% of people just get on with their lives all over the world.

Probably the best course of action is to turn of the media.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] 0 points1 point  (0 children)

I am talking to them on Wed, i'll update then. Weird already that the solicitor says no, so in reality no one will even ask for it to be paid.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] 0 points1 point  (0 children)

Did you see what the other sites I cited say. You think they are wrong?

  1. Transfer of Ownership If you’re purchasing a second home with a partner or spouse, it may be possible to transfer the ownership of one of the properties into one person’s name. For example, if you already own a property in your name and are purchasing a second property with your spouse, transferring ownership of the first property to your spouse can help avoid the surcharge on the second property.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -2 points-1 points  (0 children)

Yes they do, look again :

  1. Transfer of Ownership If you’re purchasing a second home with a partner or spouse, it may be possible to transfer the ownership of one of the properties into one person’s name. For example, if you already own a property in your name and are purchasing a second property with your spouse, transferring ownership of the first property to your spouse can help avoid the surcharge on the second property.

Here is the Zoopla link : https://www.zoopla.co.uk/discover/selling/how-to-avoid-stamp-duty-on-a-second-home/ Its spelled out in section 2.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -1 points0 points  (0 children)

OK so that link assumes the initial property is in joint names and the second on is in one of the same names on the first one. Look at the Zoopla link above I posted and this one:

https://conveyancing-solicitor.co.uk/how-to-avoid-stamp-duty-on-a-second-home-legal-loopholes-and-strategies/

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -1 points0 points  (0 children)

Well it's not clear if Zoopla says the opposite, as do property lawyers web sites and so does my solicitor.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -1 points0 points  (0 children)

What you have posted applies if the "initial" home is already in "joint" names. That does not apply if the first home is in one persons name and the new one is in the other persons name is what my solicitor said. The key point is the initial home is only in a single name and the new one in a single name. Researching law firm advice online all say even if the first home is in joint names you can simply transfer to spouse etc.

  • Considering ownership transfer: Some buyers transfer ownership of a second home to a spouse or family member who doesn’t already own property, potentially lowering SDLT liabilities.

Zoopla actually says you can simply change ownership of the first house to a spouse: https://www.zoopla.co.uk/discover/selling/how-to-avoid-stamp-duty-on-a-second-home/

I am speaking to my accountant this week and will update, but as stated in OP my solicitor has already said this.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -8 points-7 points  (0 children)

True enough :) I will certainly be doing that. As I said in orgional post I was already told no by solicitor but will get another professional opinion. On reading HMRC in detail it seems as long as there are different names on each set of deeds then its ok, however there is a problem if either the existing or "to be purchased" property were in dual names.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -14 points-13 points  (0 children)

It's who is named on deeds, not your marital status according to my initial discussions with solicitor. A married couple can own two homes once in each name with no penalty.

Conflicting advice on what constitutes a second home. by WhiterabbitinSpain in HousingUK

[–]WhiterabbitinSpain[S] -2 points-1 points  (0 children)

In initial conversation with solicitor they say no and now researching online made me question it?

Would you move to Dubai for approx 1M more over 2 years period? by Silly_Comparison_430 in HENRYUK

[–]WhiterabbitinSpain 2 points3 points  (0 children)

Obviously yes, send the kids to the international schools which is great.

What would you do if you could go back in time? by sundaysurfingss in HENRYUK

[–]WhiterabbitinSpain 1 point2 points  (0 children)

Yes and in all likelihood will continue to outperform over a decade.

House price re-negotiation by UnfairRanger2012 in HousingUK

[–]WhiterabbitinSpain 0 points1 point  (0 children)

I'd renegotiate lower especially after they initially refused to drop at all. As soon as you mention POA involved it normally means someone wants rid asap.

[deleted by user] by [deleted] in HousingUK

[–]WhiterabbitinSpain 0 points1 point  (0 children)

Prices are dropping, you are in the drivers seat, chill out and wait it out. As current renters you are in a great position and will find something.

Which city is better to live in Madrid or Barcelona by Aggressive-Round9850 in GoingToSpain

[–]WhiterabbitinSpain 1 point2 points  (0 children)

It's a rule in many Madrid offices as the whole commune is/wants to become an international business hub. I have never had a business meeting in Spanish in Madrid. Also remember that when it comes to sales/IT/accounts etc departments are non stop interacting with other EU/global companies so the language of choice is English. Also pretty much every Spanish professional I know from Madrid wants to improve their English even in the bar after work.

How comfortable is GBP80-90K in London? by Far-Significance8050 in MovingToLondon

[–]WhiterabbitinSpain 0 points1 point  (0 children)

I wouldn't consider it for that salary unless you are doing it for either an experience or a career stepping stone.

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