Finance & Investment Questions

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Sticky: Mortgage News by loanarranger Started by loanarranger, 23-12-2015, 18:43 PM	306 responses 22,052 views 0 likes	Last Post by loanarranger 09-08-2019, 06:44 AM
Inherited property & SPV mortgage by baracus Started by baracus, 16-08-2019, 11:02 AM	8 responses 53 views 0 likes	Last Post by leaseholder64 17-08-2019, 17:40 PM
Start Property developing with £10,000 by G56trader Started by G56trader, 15-08-2019, 14:55 PM	6 responses 61 views 0 likes	Last Post by jpkeates 15-08-2019, 17:20 PM
Entrepreneurs' Relief on selling company running buy to let rental properties? by Landlord2015 Started by Landlord2015, 08-08-2019, 12:28 PM	3 responses 63 views 0 likes	Last Post by Dan_Manchester 10-08-2019, 17:01 PM
Inheritance and wills by Raiden328i Started by Raiden328i, 13-09-2016, 09:19 AM	72 responses 2,399 views 0 likes	Last Post by jpkeates 10-08-2019, 11:46 AM
Selling property to an investor by abcdefg Started by abcdefg, 06-05-2019, 17:37 PM	16 responses 258 views 0 likes	Last Post by David Lawrenson 08-08-2019, 10:57 AM
credit check for a limited co purchase? by fandango Started by fandango, 01-08-2019, 13:52 PM	4 responses 60 views 0 likes	Last Post by Gordon999 05-08-2019, 19:46 PM
remortgage by mikeyboy1 Started by mikeyboy1, 02-08-2019, 18:02 PM	1 response 66 views 0 likes	Last Post by Gordon999 05-08-2019, 19:42 PM
Lender for BTL let to Housing Association on Private Sector Lease? by RachelB135 Started by RachelB135, 31-07-2019, 20:30 PM	3 responses 50 views 0 likes	Last Post by loanarranger 01-08-2019, 15:43 PM
Gilts by JK0 Started by JK0, 30-07-2019, 23:18 PM	3 responses 64 views 0 likes	Last Post by boletus 31-07-2019, 10:29 AM
Court orders registered against a limited company by nick_noal Started by nick_noal, 28-07-2019, 19:27 PM	2 responses 72 views 0 likes	Last Post by jpkeates 30-07-2019, 17:27 PM

Inherited property & SPV mortgage

baracus

Hi, newbie 1st time question so please go easy on my ignorance!!!

I've got 1 rented property under my personal name and my siblings & I have just inherited a mortgage-free family property.

They want to sell while I think it's a good opportunity for me to have another rental...
- Channel: Finance & Investment Questions
16-08-2019, 11:02 AM
Reply to Inherited property & SPV mortgage

leaseholder64

This isn't a devolution in the will. This is a a transaction for which money is being paid.

If there was enough cash in the estate, there could be a deed of variation, that substituted the cash for the share, but I don't see how one could reassign it to the OP, without the original beneficiary...
- Channel: Finance & Investment Questions
17-08-2019, 17:40 PM
Reply to Inherited property & SPV mortgage

Gordon999

There is no sdlt for transfer of inheritance property to beneficiary named in the will.

You may get some help from the executor ?
- Channel: Finance & Investment Questions
17-08-2019, 16:12 PM
Reply to Inherited property & SPV mortgage

baracus

Ok so sounds like whether I take ownership of the house via my SPV or in my personal name, there's always going to be SDLT payable on the market value of their shares regardless?
- Channel: Finance & Investment Questions
17-08-2019, 14:33 PM
Reply to Inherited property & SPV mortgage

leaseholder64

Market value of their share.
- Channel: Finance & Investment Questions
17-08-2019, 14:00 PM
Reply to Inherited property & SPV mortgage

baracus

On market value of the whole house?...
- Channel: Finance & Investment Questions
17-08-2019, 13:48 PM
Reply to Inherited property & SPV mortgage

jpkeates

You would pay SDLT (but it would be based on the market value, not the amount you agree with your siblings).
Because you own a property already, the SDLT will include a 3% surcharge.
- Channel: Finance & Investment Questions
17-08-2019, 12:36 PM
Reply to Inherited property & SPV mortgage

baracus

Aaah I see. So does that mean I will be liable for SDLT on the money I pay my siblings for their shares of the property?
- Channel: Finance & Investment Questions
16-08-2019, 15:33 PM
Reply to Inherited property & SPV mortgage

leaseholder64

It wouldn't be a loan, it would be an outright purchase from a connected person, so you had better know the market value, if it differs from what you pay.
- Channel: Finance & Investment Questions
16-08-2019, 11:37 AM
Start Property developing with £10,000

G56trader

Hi guys, i want to start property developing.

I have £10,000 of my own funds to put down.

i want to buy a property for £200,000.

i want to spend £20,000 on refurbishment.

what is the correct way to finance this project?

i was thinking...
- Channel: Finance & Investment Questions
15-08-2019, 14:55 PM

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