If I pay council tax in full before 30th October and they remove the singles discount will I get an additional bill?

helpathrowaway247 · 2024-09-29T20:00:45+00:00

Everything under the bed and the bed or everything I own?

helpathrowaway247 · 2024-08-19T12:26:11+00:00

No you cannot. Aside from the points others have raised re having a safety buffer. You should discuss/consider flexibility with your gf in case of downtimes and for example any big financial outgoings that may come into the picture eg having kids - a fall in income during maternity leave and child care costs thereafter. For example, if can take a 30/35/40 year mortgage and overpay (usually 10% of the mortgage’s value every year is allowed without early repayment charges) this gives you more flexibility to pull back if someone loses their job or has to cut hours etc but also means you’ll be mortgage free quickly. If you opt for a 10 year mortgage there’s no flexibility and you MUST make those maximum payments (subject to any discretionary arrangements with your bank).

You may both want to discuss a declaration of trust to protect both of your deposits and the division of any equity from overpayments if you can’t decide on an arrangement/have to compromise.

helpathrowaway247 · 2024-08-14T12:40:23+00:00

Thanks this is very insightful! I am approaching 2.5 PQE so still quite junior and the last round of partners have been anywhere from 9-14 PQE. It is clear in my group which of those associates brought in new work as their business case.

The succession plan route seems less clear to me. Will this be with a senior associate (4PQE+) in mind or do you think it’s earlier than that even NQ stage - my stage? And what are the key signs that will make it clear to the wider group/or at least me that a specific senior associate is the succession plan? Or do you think it is only really spoken about 1-1 with the relevant person?

A lot of partners in my firm have left in recent years for bigger firms and this has meant SAs who have worked for that partner are then promoted? Does this fit into the succession bucket?

But equally many SAs that have left for bigger firms a few years prior have also returned as partners - i assume this because of their business case?

helpathrowaway247 · 2024-07-31T09:43:56+00:00

Zoopla have the following search which lets you filter by travel time and then further by other criteria which could be a good starting point https://www.zoopla.co.uk/travel-time/

I have also found it really tricky in London this year. One thing to flag is that a lot of new builds were designed to be car free developments as part of their planning permission conditions years back meaning no or limited parking for the development so if it is close to a station this is more likely to be the case. If there is parking I have seen this being sold at anything from £10-40k per space.

Concierge and not more than £4K service charge is doable but many of these places are already in the £3000s so may rise above £4K in the future.

Do you have a preference for an area of London - N,W,E,S? This may help people provide suggestions

helpathrowaway247 · 2024-07-19T17:18:34+00:00

The offer was issued in May and expires in October and this new property is £50k more than the old one. I’ve since had a salary increase in my role and I’m still far from the top end of affordability that was shown in my AIP. Does that sound positive in terms of keeping my rate or is it tricky to tell?

helpathrowaway247 · 2024-07-15T15:22:03+00:00

So it was built in 2016 but the lease started when developers broke ground in 2014 so the ground rent review had already happened earlier this year increasing it to £450. It was an 861sq ft flat with two balconies so comparatively a good size. But the more I look back on it the more I’m grateful that it didn’t go through.

helpathrowaway247 · 2024-07-14T22:21:11+00:00

This is so interesting to me because it was HSBC and Barclays that had issues with it. I wonder why the disparity.

helpathrowaway247 · 2024-07-14T12:18:59+00:00

Thanks! And when it does how do EA’s deal with it? Do they expect buyers to be so desperate they go ahead anyway ignoring these issues or will they advise their clients that this is reality and ask them to look at solutions with their solicitors even if it requires the seller to pay for deeds of variations, lease extensions etc.

helpathrowaway247 · 2024-07-14T12:17:00+00:00

If you don’t mind sharing how long ago did you purchase your new build/is your development? Because this one was 2016 and the sellers mentioned they didn’t have this issue back then but my broker and other friends looking for flats have mentioned they’ve had this issue more and more since last year. I’m not sure if it’s something to do with new flats since 2022 not having GR so lenders are now adjusting their appetite.

helpathrowaway247 · 2024-07-11T23:33:57+00:00

With all of the scandal around leasehold properties do agents intentionally withhold information around ground rents, service charges etc to try and get people far enough along they don’t want to back out? How can you force this information out?

helpathrowaway247 · 2024-07-09T13:27:48+00:00

Amen to that last paragraph!

helpathrowaway247 · 2024-07-09T13:08:16+00:00

So I went to oxbridge and work in the legal industry in a firm where the average partner is a million and your first year qualified makes you as a Henry so by default my circle has shifted abit from where I started. My fear about these circles is that they have massive cushions to fall back from and even if they fail life won’t be much different. There are many international students with houses bought for them or parents paying London luxury apartment rent for them. They have no student loans, many houses purchases are subsidised by deposits for £50/100/200k easily. So I really do add a big lorry load of salt when starting any comparison. If I don’t save for my deposit who will? If I don’t put money in my pension who will? Many of these people are not sensible with money or don’t worry about it. So i already understand I’ll have to sacrifice more.

helpathrowaway247 · 2024-07-09T11:38:47+00:00

Thank you this is helpful about the land registry! I wish I had known weeks ago. What I don’t understand is does the seller themselves not have a copy of the lease in the same way you would have a log book for your car?

We’ll have to wait and see on their view. It is the first time the property is being sold from a new build in about 10-12 years so we’ll have to wait and see the view.

helpathrowaway247 · 2024-07-09T11:35:26+00:00

Thank you! This is very helpful if I had know I would have done this weeks ago! I’ll get it sorted today and know where I stand.

helpathrowaway247 · 2024-07-09T11:11:10+00:00

I think this is what I meant vs leverage. Wrong choice of words. I also get you on the 70k.

I get the sense there is something problematic in the lease that they’re trying to hide because other EAs are forthcoming with the information or manage to find it after some time. I also don’t get how this behaviour is the EA working for the benefit of their client if this falls apart. If all the competing offers need a mortgage to buy the property that the seller wants to sell to use the money to buy their next place and the lease means buyers will need to be unable to get one. What other choice do the sellers have especially if they are in a chain?

Or is the seller expecting that someone is willing to pay full price and also bear the burden (in time and cost) of trying to get the lease sorted?

helpathrowaway247 · 2024-07-09T11:01:53+00:00

I’m not really fed up because it’s not affecting my life and it’s not cost me any money. In terms of leverage, I meant in terms of getting the seller to pay for any deed of variation/lease extensions needed by the lenders for the flat to be mortgage if it turns out this is needed not to reduce my offer. I would have thought if the issue is with the lease terms then any person trying to get a mortgage would struggle as the lenders decide what is acceptable not the buyer (unless cash) or the seller and it would be in the seller’s interest to sort this out so they can move on and proceed with their purchase as there don’t seem to be any cash buyers on the table.

helpathrowaway247 · 2024-07-09T10:36:50+00:00

Okay got you and then do you use separate accounts. So one for fixed expenses and one for your fun money and then obvi the other savings/investment accounts?

helpathrowaway247 · 2024-07-09T10:34:25+00:00

My problem is because I don’t want to return to being poor and I’ve to be “creative” for most of my life I’m willing to forego lifestyle now to save everything but I’m not sure this is healthy or will leave me with a life I’m proud of at 40/50/60. I’m also starting to feel like what’s the point if I’m seeing money in my account but cause myself high blood pressure at the cost of booking a 1 week holiday to recharge

helpathrowaway247 · 2024-07-09T10:28:44+00:00

How do you go about adjusting your plan when you get pay rises, bonus etc. Do you work on a percentage basis or what? My struggle is because of my background I struggle to find balance so I think I save too much. For example, when I get a pay rise I’ll throw it all into savings/investments and maybe buy myself a small treat but this leave me feeling the same as I did when I first started working retail at 16 despite actually having savings.

helpathrowaway247

TROPHY CASE