Capital Gains Tax on property when selling - HomeOwners Alliance
Capital gains tax rates on property vary based on a number of factors, such as your income and size of gain. Basic-rate taxpayers pay 18% on gains (not the total sale price) they make when selling property. Higher and additional-rate taxpayers pay 24% from April 2024. And it’s important to note that any capital gains tax will be added to your ...
Damp In The House And How To Fix It - HomeOwners Alliance
Improve ventilation (e.g open bathroom windows when showering, add a kitchen extractor fan) Remove mould from walls with a product such as HG mould spray then paint with a damp seal. Turn on or improve the heating of the property and insulate the …
11 Documents you need to sell your house - HomeOwners Alliance
If you’re selling your house, there are several pieces of information that you’ll need to have at the ready. Proof of Identity. Property Title Deeds. Energy Performance Certificate (EPC) Copy of lease (if leasehold) Fittings and Contents Form (TA10) Property Information Form (TA6) Building Regulations Certificates. Warranties and guarantees.
Inheriting A House: What You Need To Know - HOA
In the tax year 2023/24, the main residence nil-rate band is £175,000. This allowance is added onto the main inheritance tax nil-rate band of £325,000. So, depending on the value of the rest of the estate you could be able to inherit a property worth …
Mortgage rate predictions 2024: Will rates keep falling?
On 2 nd November 2024, the average mortgage rates according to Rightmove are: Average 2 year fixed mortgage rate at 60% LTV was 4.16%. Average 5 year fixed mortgage rate at 60% LTV was 4.05%. Average Standard variable rate (SVR) is 7.99%.
How Much Should I Pay In 2024 - HomeOwners Alliance
The average estate agent fee in 2024 is 1.42% including VAT. So on a £275,000 house this would mean estate agent fees of around £3,900. However, estate agent fees typically range from 0.9%-3.6% depending on which estate agents you use, how many are selling your property – and how well you negotiate.
No Building Regulations Certificate? What Can You Do? - HOA
If the building control work was carried out by an Approved Inspector, you should contact them for copies of any initial notices, plans or final certificates instead. There may be an administration charge involved and if no building regulations completion certificate was issued, a final inspection letter may be sent to you instead (or an ...
Homebuyer Surveys Explained - HomeOwners Alliance
RICS Homebuyer Surveys, now officially called RICS Home Survey Level 2, are carried out by Chartered Surveyors. They won’t detail every single aspect of the property but they can uncover problems that may affect the property’s value and require further investigation like subsidence and damp. And they will include all major parts of the ...
How to transfer ownership of a property - HomeOwners Alliance
Alternatively, you can do a ‘transfer of equity’ in which your partner buys a share (typically 50%) of the property’s value. Note that the partner might have to pay stamp duty if the value of their share (equity plus mortgage taken on) is over £125,000. You’ll also need to get a solicitor to handle the transfer of equity process.
Stamp duty on second homes explained - HomeOwners Alliance
Stamp duty applies to lease extensions just as it does to any other property purchase. But, the £125,000 threshold for standard stamp duty means most people don’t have to pay it. The issue with the stamp duty for second homes rate is that it kicks in at a much lower £40,000. Pay more for the extension, and own other properties, and you’ll ...