First UK home buyer seeking advice.
Hi
We are not first time buyers internationally but we are first time buyers in the UK and I guess that would leave us in the category of second time buyers for stamp duty, mortgage etc. Our inexperience with UK property leads to these questions:
1) We are looking at properties and unfortunately many of them have quite significant services charges without any real services offered and it seems like quite a scam and I have been warned from people about this item. As a reference, many of the flats we look are around 500-600£/month in service charge but this includes both tall tower somewhat newbuilds with gym, pool, elevators and concierge as well as properties that have absolutely nothing except a small shared garden. We understand that the government may be looking to make some sort of reform about this but nothing is official yet, do you agree that properties with seemingly high service charges without actual service is mainly to be excluded? They seem much more likely to increase in the future.
2) We like our rental and we have time left on the contract. How complicated is it in practice with buy to let vs buy as a second home etc? We do not want to be dishonest but it may serve us well to buy something and wait 6-24 months before actually moving in and rent during. Is this a valid concern?
Would be grateful for advice and thoughts.