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Savage87
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Last Activity: 15-06-2021, 22:00 PM
Joined: 25-05-2021
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  • Savage87
    replied to Declaration of Trust question
    Thanks again Lawcruncher, I appreciate you taking time to answer!

    I got back to the conveyancer today and said that we are not happy signing the Disclaimer. The initial response was that both the documents need to be signed. I declined and said that I will be getting a DoT from someone...
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  • Savage87
    replied to Declaration of Trust question
    Thanks jpkeates

    As per my first post:

    I have asked the solicitor to draft a DoT as follows: Funds to buy property 50/50, property ownership in favour of wife 90/10, any expenses and rental income relating to the property should be split 90/10 is favour of wife and any...
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  • Savage87
    replied to Declaration of Trust question
    I haven't seen a DoT before so the English used in the document is a bit different from I'm used to.

    I feel like my interests are not fully protected by them giving me that disclaimer. At this stage I'm not happy signing the disclamer. I have paid for the service and from what I understand,...
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    Last edited by Savage87; 09-06-2021, 15:24 PM. Reason: Spelling

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  • Savage87
    replied to Declaration of Trust question
    I got the drafted DoT from the solicitors and I'm a bit confused. The wording is as follows:

    The Net Sale Proceeds will be divided as 90% in favour of X and 10% share in favour of Y.

    Would this be enough to prove unequal share ownership?

    The solicitor also sent...
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  • Savage87
    replied to Declaration of Trust question
    Thanks again to all that contributed to this thread! I appreciate all your help!
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  • Savage87
    replied to Declaration of Trust question
    Thanks again for all your replies.

    I am now wondering if I should get the DoT registered with the Land Registry or not?
    I don't know if there are any advantages/disatvanges in doing so.
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  • Savage87
    replied to Declaration of Trust question
    This is one of the fees the lender charges:

    Security Alteration

    "We’ll charge you this fee if you want to make any changes to your deeds or security. This includes,
    for example, Deeds of Grant, Deeds of Variation and Deeds of Substituted Security." £85...
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  • Savage87
    replied to Declaration of Trust question
    Thanks everyone for your replies! I appreciate all of them!

    I wanted to put everithing into one DoT instead of changing the it before we sell, if it comes to it.

    If I change the declaration later, I will need to pay for another one and pay a fee to the lender as well, so I...
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  • Savage87
    started a topic Declaration of Trust question

    Declaration of Trust question

    Hello everyone, new landlord here. I'm a basic tax payer and the wife pays no income tax.

    I'm buying my first BTL with the wife and it will be held as tenants in common.
    I have asked the solicitor to draft a DoT as follows: Funds to buy property 50/50, property ownership in favour...
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