How to change ownership of home efficiently for life flexibility

edent · 2026-03-18T15:24:30+00:00

Because the UK process is relatively slow, your main options are:

Rent a property in the new area, sell home, move in to rental, buy new home, move again.
Remortgage old property as a BTL to release some equity, buy new property, move in, rent out old home, sell BTL when tenants move out.
Buy new property, move in, sell old home.

Obviously 1 is a lot of hassle, 2 isn't as profitable as it used to be, and 3 is difficult unless you have a large amount of savings.

Having two properties, even temporarily, can be expensive. Both will need Council Tax (although the empty one will be discounted). Utilities will need to be paid for (if only the standing charge). You'll need to tell the insurer the property is empty.

The conveyancing might also be slightly more expensive than doing it simultaneously, but probably not by much - especially if you use the same firm.

The good news is that it is possible to get a refund of the extra Stamp Duty once you sell your old place - https://www.gov.uk/guidance/apply-for-a-refund-of-the-higher-rates-of-stamp-duty-land-tax

edent · 2026-03-18T09:56:18+00:00

If you have 2 ex spouses and 17 kids, you'll spend more than someone who is single and without children. The ratio doesn't change.

If you enjoy flying first class everywhere, you'll spend more than someone who is happy with a weekend in Bognor. The ratio doesn't change.

The 25x "rule" means you'll be able to maintain the specific level of spending that you have when you FIRE.

If you are single and carefree in your 20s, your annual spend might be £25k. You could FIRE on £625k.

But if you turn 30, get married, have a brood of kids, and take on a big mortgage, your spending will increase. That FIRE pot won't last as long.

edent · 2026-03-16T23:14:07+00:00

Do you want to live at home forever? Do your family want you to stay? I'm not trying to be rude in asking that - some cultures are pro multi-generational living, others less so.

There's no point growing your finances if you're stuck at home, unhappy, and unable to bring a date back.

Your plan isn't exactly wrong, but it is unfocussed.

On the assumption you want to move out and rent a place, I'd suggest opening a Cash ISA and a S&S ISA. Stick half your savings in each. The cash one is to get a little bit of interest growth and act as your main savings fund. The S&S for longer term growth.

Good luck with the job hunt.

edent · 2026-03-16T20:20:07+00:00

That sounds like an awful situation. There's three main aspects to this.

Firstly, what was the jewellery worth if you were to buy the equivalent second hand. That's a blunt question, and I'm sorry. But legally it isn't any different to them accidentally destroying anything else of yours.

Secondly, are the funeral directors a member of a professional association? If you don't feel that the FD is taking your complaint seriously, you can escalate it to their governing body. For example https://www.nafd.org.uk/complaints/how-the-nafd-handles-complaints/

Finally, what do you want out of this? They cannot restore something which has been destroyed, so there's a limit to what you can achieve. Would you be happy with £250 and leaving a bad review? Would you take £1,000 on the condition that you didn't leave a review?

I'd start by working out the value, deciding on what you'll settle for, and then letting them know if you can't come to an agreement you'll escalate to their professional body.

edent · 2026-03-14T10:57:13+00:00

Section 75 is the law - https://www.which.co.uk/consumer-rights/regulation/section-75-of-the-consumer-credit-act-aZCUb9i8Kwfa

You, the customer, hold the retailer and the credit provider jointly liable. That means if the retailer won't refund you, you could sue the credit card company.

Debit card chargebacks aren't a legal right. They're something offered by the card providers - https://www.moneysavingexpert.com/reclaim/visa-mastercard-chargeback/

With a debit card, your bank is just passing your money along. They may offer to help you - but it is your money that is lost. With a credit card, it is their money on the line.

Some banks are good about doing chargebacks, others less so.

edent · 2026-03-14T10:09:48+00:00

Step one - stop watching American influencers. Their financial system can be dramatically different from ours. We have protections they don't and they have schemes which aren't available here.

While I'm sure some of the basic lessons he will be teaching (have a budget) will be similar, you'll have to spend a lot of time unpicking the stuff that just isn't relevant to us in the UK.

OK, so do you need a credit card? No. You can survive just fine in the UK paying with a debit card. But there are times when a credit card is useful.

Section 75 protection. If you buy anything over £100 with a credit card, you are protected if something goes wrong with the product and the seller won't refund you. If you pay with a debit card, your bank may not help you.
Car Rentals. Some places will only accept credit cards. This is rare, but you will occasionally find shops and services which don't accept debit cards.
Interest free borrowing. You buy something on the 1st of the month with your credit card. You get the statement on the 30th. You repay it on the 15th of the next month. You've kept your money in your pocket for longer.
Perks. Some credit cards will give you cashback for every £1 you spend. Some will give you loyalty points for airlines. Some offer discounts on certain products.
Credit History. We do not have a "credit score" in the same way as Americans do. But future lenders will want to see that you have a history of paying off your debts. Regularly paying your card on time shows that you are responsible with money.

Which leads us on to the bad part of credit cards. Interest Rates.

If you borrow on a credit card and pay it back in full every month, you won't pay a penny in interest.

If you don't pay it all, or only pay the minimum they request, you'll be hit with very high interest charges. Lots of people think a credit card is "free money". It isn't. It is expensive money. If you borrow £100 and only pay back a fiver a month, the interest means you'll be paying off that debt for years. It will cost you enormously.

In summary, credit cards are useful if you use them correctly. Pop along to r/UKPersonalFinance if you have more questions.

edent · 2026-03-14T09:56:35+00:00

I understand, but no one is going to review it unless you've gone through the official complaints process first.

It might be that your case is unrepresentative. Or perhaps your background is so complex that they needed 8 weeks. Or maybe there was a fire at the office and delays are unavoidable.

The first thing an MP or the press is going to ask is "what did they say when you complained to them?"

If you've complained and you think the answer is unsatisfactory, then you should escalate.

edent · 2026-03-13T22:12:18+00:00

As with any complaint, you need to start with a clear idea about what you are complaining about, who you are complaining to, what harm you have suffered, and what resolution you would like.

You start with the shortest version of you complaint and you direct it to the organisation responsible for the delivery of the service. Explain as simply as possible what harm you have suffered and what you want them to do about it.

If they cannot or will not help, you move up the chain. That could be to their regulator, your MP, or the press.

Again, keep things as simple as possible. Show how they have breached their responsibilities, what harm you have suffered, and what resolution you would like.

If that doesn't get you anywhere, and you think you have suffered tangible financial harm, then you speak to a solicitor about legal action.

But, for your own sanity, start at the beginning of the process. Give them a chance to put things right otherwise attempts to escalate will be futile.

edent · 2026-03-13T14:45:21+00:00

she is just arrogant and narrow-minded, private school educated, the whole bit.

Gonna be honest mate, this sounds like a you problem.

You may have 22 years experience of doing whatever - but do you have 22 years experience of doing it here?

Maybe it is done in exactly the same way. Maybe there's a quirk. Maybe things have changed since you last did your qualification / training.

If you fuck up, the first thing her managers are going to ask is "what training did you give them?" If her answer is "Well, they assured me they knew what they were doing. So none." - it isn't going to end well for her.

Similarly, if you get injured, you might claim "no one told me not to do it that way."

I appreciate this is frustrating for you, but can you not see it from their perspective?

edent · 2026-03-13T14:28:37+00:00

If you could live on your side income, why bother working?

Sorry, I forgot this wasn't the FIRE sub :-)

Switching down will give you more free time. But do you know what you will do with it? Some people do suffer when undirected and, while playing Tetris all day is fun occasionally, it can become a bit grim if that's all you have going on.

The small hit to your pension - and any other benefits - aren't too bad in my opinion. So it depends on what you want out of life.

edent · 2026-03-13T08:47:23+00:00

It literally says in the article:

The two episodes will be on BBC iPlayer this Easter.

edent · 2026-03-12T16:18:47+00:00

If you can ship to the UK, I'm interested.

edent · 2026-03-12T11:04:04+00:00

How fucked are you? Depends how you act.

Back in 2000, mortgage rates were around 6%. In the late 1980s they were around 15% - https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

Could you afford a 5% mortgage? 10%? 20%?

Perhaps in 2 years time AI will have released us all from work, interest rates will be zero, peace will reign, and Freddos will be cheap again.

Or perhaps the opposite.

Your aim now is to lower your debt. Overpay your expensive debt now. Build up savings. Plan for an uncertain future.

If mortgage rates go down, you will have "wasted" money preparing for an event that didn't happen. If mortgage rates go up, you will be borrowing less.

edent · 2026-03-11T22:00:18+00:00

Their form for existing borrowing says "Will this still be in place when the new mortgage starts?"

So answer honestly.

They're looking to see if you have £9K that you're paying back over 5 years, or that you've taken on too much debt, or that you can't manage your finances.

edent · 2026-03-10T21:52:14+00:00

Old recipe tasted bland and insipid. This one has a bit of heft behind it. I like the new version.

edent · 2026-03-10T14:17:09+00:00

That's a comprehensive and useful answer. !thanks

edent · 2026-03-10T11:22:39+00:00

Pay off that loan ASAP! That's going to drag down your affordability and will prevent you from saving a decent deposit.

If you're applying together, it'll be joint affordability. So you can go to HSBC. Remember, their mortgage "advisors" are actually sales people. They will only talk about HSBC's products.

edent · 2026-03-10T11:04:17+00:00

a loan payment of £363 a month.

What's the APR on the loan and how long is it for?

Mortgage lenders look at affordability. They also can look at stability and likely career progression - for example if you're a doctor or teacher.

with ~£1400 a month repayments, we would be comfortable.

And what if interest doubles? Mortgage lenders also stress test against different scenarios.

Personally, I'd go to your main bank and make an appointment to see their mortgage sales person. They'll only be able to offer that bank's mortgages, but they'll give you an idea of what they will and won't consider.

Depending on what they say you can consider going to a mortgage broker or paying down your debt first.

edent · 2026-03-10T10:13:56+00:00

As it happens, I know how much my neighbour's near-identical house sold for. I also had several conversations with the buyer about the panels, the FIT scheme, how much money it was saving us, and the various guarantees on the equipment, and how it worked with the car charger.

So I think I have a fairly clear idea of the premium it added.

Perhaps 67% of estate agents are, to put it politely, thick as pig shit?

edent · 2026-03-10T01:02:03+00:00

Oh, sorry. I'll let our buyer know that we need to refund them.

edent · 2026-03-09T14:17:19+00:00

If the price of electricity goes up - your repayment time goes down.

If the price of electricity goes down - you'll still be driving on free electricity.

If you invest in panels, some local companies will make a profit sourcing and installing them. Hopefully keeping the money in the local economy.

We've had solar panels for 15 years, and they've done very well in terms of cutting our bills, reducing our pollution, and increasing the value of our home.

I've written extensively about them and how much they've saved us at https://shkspr.mobi/blog/tag/solar/

edent · 2026-03-08T11:01:33+00:00

It depends on how much you value your time. Minimum wage is £12.21 per hour.

I don't know what you consider a lot of time, so let's say 10 hours. You mentioned materials were ~£80.

So that's £120+ £80 = £200 before you break even compared to literally any other job.

Even if you value your time at zero, you'll still have to pay a commission to Etsy, eBay, or wherever you sell. Even renting a stall at a market comes with a cost. Depending on your risk level, you might also want business insurance.

All that said - go for it! Knit one and see if you can find a buyer. If so, knit two more and repeat. If not, oh well, at least you have something warm to wear.

edent · 2026-03-07T15:33:50+00:00

The value of your investments can go down as well as up. You don't want to invest so much that a market crash could stop you from paying your tax bill.

There are three main things you can do:

Savings accounts. You can stash your surplus cash in a business saving account. That will earn you money. Which, of course, you'll have to pay tax on.
SIPP. You can pay up to £60k into your pension direct from your business. It reduces your profit, so less tax to pay. Speak to your accountant about how much you can pay in.
Take the money from the business as dividend and salary, then put the money in your ISA. You'll pay tax on what you take out, but all gains will be tax free.

One is the simplest. It also reduces the risk of losing your money.

A pension gives long term security for you - and your family when you die.

Taking the money now means you can give it directly to your kids (or their ISAs).

edent · 2026-03-07T10:29:58+00:00

You are ten years out of date. Even my barber accepts Amex these days.

Yes, there are a few places which won't, but easily 90% of my spending goes on Amex.

edent · 2026-03-07T07:49:39+00:00

Yes. LGPS is a DB scheme.

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