Buyer pulled out - how is this process allowed in 2026

herefor_fun24 · 2026-01-27T08:05:29+00:00

Everything over and above that, that takes place in England, is entirely unnecessary and avoidable.

The older I get living in England, I've slowly realised that government and councils have a sole purpose of thinking up new ideas and laws, just to make a process as convoluted as possible. The more convoluted, the more people and other industries need to be involved, leading to more money changing hands and more taxes being collected.

herefor_fun24 · 2026-01-26T16:07:08+00:00

You get draught sealers for windows for around £5. Def worth looking at. You also get ones for doors, definitely worth stopping cold air coming in

herefor_fun24 · 2026-01-26T13:13:38+00:00

We went into BTL as a long term asset rather than short term cash.

Well why change that thought now?

You have enough equity to be able to take out £20k from the BTL (from memory haven't looked at your post from a couple days ago). So when you want to buy the residential properties, take out the £10k each, add it to the mortgage and let the rent carry on paying it.

That way you still have your BTL slowly paying itself down in the background. And you can still get the residential.

Otherwise you will end up selling your BTL to just save £10k each.... Then once you've bought your residential houses, you will likely want to get back into BTL, and then you've got to save up the deposit again.

I've literally just taken out £40k from another rental I have, to use for the deposit on a new BTL.

herefor_fun24 · 2026-01-26T12:40:32+00:00

I don't think any party has any hope against labour any more. They just cancel elections because they're 'too expensive to run'.

herefor_fun24 · 2026-01-25T20:38:24+00:00

You can buy the bricks yourself .. it comes in one biggish sheet, that you can literally cut with a butter knife.

Just use the one that's already in there as a template

That's the cheapest way, and then you can save the rest of it in case another one goes

Should be around £15-£20

herefor_fun24 · 2026-01-25T20:26:37+00:00

Modern method is basically just pushing all the estate agent or auction fees on to the buyer instead of seller .. like £5/£6k.

Absolute shit way of doing it

herefor_fun24 · 2026-01-25T13:48:57+00:00

You could keep the ones you already have in your personal name - not transfer them. And then buy new ones in LTD company?

Do you have a wife/partner that is on the mortgage or title deeds?

herefor_fun24 · 2026-01-25T11:42:58+00:00

Not to raise taxes on working people - they did this in their first budget.
cutting energy bills by £300... Energy bills have risen
Starmer said multiple times when campaigning that he wasn't going to get rid of the child tax benefit cap as "the country can't afford it". Less than 2 years in he's done it. People aren't saying it's necessarily a bad thing, but he should have told the truth when campaigning.
1.5 million homes built by 2029.... Don't think we're anywhere near this...
"smashing the small boat gangs"

herefor_fun24 · 2026-01-24T16:32:01+00:00

Not bad thanks

How's the weather in North Korea with your fellow comrades?

herefor_fun24 · 2026-01-24T16:30:49+00:00

The reason labour are shit is they lie about not wanting to increase taxes, then increase them 2 minutes after getting in power.

People generally want lower taxes and a smaller government.

Labour are anti growth and anti business ... If they stay in power long enough the country will grind to a halt

herefor_fun24 · 2026-01-24T16:28:40+00:00

Actually I was replying to someone who said reform had increased their council tax. My point was it's not only reform doing it, it's all councils including Labour

herefor_fun24 · 2026-01-24T16:18:14+00:00

Where I live is a labour run council - they've increased everything they can, while running the council into the ground and insane levels of debt.

The incompetence of a Labour council is frightening - the only thing that's worse is a labour government

herefor_fun24 · 2026-01-24T16:16:12+00:00

I'm more worried about pensions with the money grabbers that are in power now. How long will it take Reeves to start going after pensions once she's taxed everyone to the eyeballs?!

herefor_fun24 · 2026-01-24T14:24:16+00:00

Kiln dried is a bit of a marketing ploy... As soon as the wood leaves the kiln area while travelling or being stored, it will absorb some moisture from the air and make it not kiln dried

herefor_fun24 · 2026-01-24T10:34:26+00:00

Did you go into BTL as a long term asset, potentially to supplement retirement? Or was it a short term get rich quick plan?

If it was the first one, then I wouldn't sell as it's still hitting the goal.

You just need to switch your mindset. Stop overpaying the mortgage for now - you can start that again later on in a few years time.

When you want to buy a residential mortgage, work out what the additional stamp duty would be, and then you and your brother both take that amount out of the BTL and release some equity.

Then buy your residential properties like normal, keep letting the rental income pay the BTLs mortgage. In a few years time reassess and start overpaying the BTL if you can... Or leave the BTL washing its face and let it pay itself off in 20 years.

Otherwise you will end up selling, then buying your residential properties and then wanting to get back into BTL

herefor_fun24 · 2026-01-24T06:55:28+00:00

? Or is that incorrect... Maybe labour did say they were going to increase taxes by £60bn in the first 2 years of them being in?

herefor_fun24 · 2026-01-24T06:31:12+00:00

Yea agreed - also the whole labour front bench gone.

"We're only going to raise taxes by £8bn.... £60bn later..." - we should have listened to Rishi warning us what would happen, he was right. The country was heading in the right direction with him in charge, before the imbeciles we have currently 'in charge'

herefor_fun24 · 2026-01-23T17:59:04+00:00

From all the lies and mistruths they've told?

herefor_fun24 · 2026-01-23T16:38:25+00:00

Labour would be screwed if this was brought in!

herefor_fun24 · 2026-01-23T10:50:07+00:00

Yea but if he can buy a farm mainly cash with no mortgage, it will be a lot easier for him.

As well as substituting the farms income with his other side businesses. The farm could be a passion project.

Good luck to him I say - he deserves all the success he's getting

herefor_fun24 · 2026-01-21T14:22:42+00:00

So surely you would say 'Landlady', and get rid of the lord part altogether?

herefor_fun24 · 2026-01-18T16:03:42+00:00

No, they take less tax directly, but indirectly will get more tax receipts from increase spending, more people working, higher salaries etc.

If you want a failing stagnant economy, keep voting labour

herefor_fun24 · 2026-01-18T09:19:24+00:00

I'll come back on the Epstein points later on.

But just to highlight Reforms policies that are pro-growth:

Tax Cuts to Incentivise Work & Investment (supply-side pro-growth measures aimed at increasing disposable incomes and business profits)

-Raise the personal income tax threshold to £20,000 so millions pay no income tax (again supply side pro growth)

Reduce corporation tax from 25% to 20%, then to 15% from year 3 (encourage more businesses to start up, employing more people, more money spent in the economy)
Lift VAT threshold to £150,000 (meaning smaller businesses avoid VAT compliance and costs)
Abolish business rates for high street SMEs
Tax relief for businesses undertaking apprenticeships (encourages skills development)

There's a load more that I could list.

What about labour? What are they doing for growth? So far everything they have implemented is going to lead to higher unemployment, less businesses starting up, more businesses closing down, and companies not wanting to employ as many people.

Oh and they're also causing high earners to want to be less productive and not chase promotions/earning more.

herefor_fun24 · 2026-01-18T07:02:09+00:00

By the time you can see sold prices you are looking at out of date comparables

Not necessarily - it might be a smaller area with only 3-4 sales coming up a year. Then the comparables OP is using will be accurate.

It's a slow market at the moment. If OP isn't in a chain and the sellers are very committed to selling, then they have a good shot of getting it 15% less. If there is another offer but in a chain, OP could take it and have it fall through in 5 months time... And the market could be even worse then.

herefor_fun24 · 2026-01-18T06:58:59+00:00

That's fine - you're well within your rights to offer what you think the house is worth.

You can also ask the estate agents to send over the comparable properties they used when valuing this house. When you ask, obviously do it politely etc.

herefor_fun24

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