To do the deal yes they were "forced" and the management company refused to proceed/sign any documents without it. Not seen any detailed legal docs as yet, just says "funds for cladding" on the completion statement. No stamp duty on this part.
It was only reduced by £5k as such. Further reductions could not be agreed and so they went ahead anyway effectively swallowing the extra cost. It is also more a question of what to do now with the £20k paid.
My answers
Thanks Richard
Maybe so, but any thoughts if the expense is revenue or capital?
To do the deal yes they were "forced" and the management company refused to proceed/sign any documents without it. Not seen any detailed legal docs as yet, just says "funds for cladding" on the completion statement. No stamp duty on this part.
Client paid £230k to sellers and £20k to management company (via the solicitors) and it was separated out on the completion statement.
It was only reduced by £5k as such. Further reductions could not be agreed and so they went ahead anyway effectively swallowing the extra cost. It is also more a question of what to do now with the £20k paid.
and?
Suspicion not evidence
Suspicion not evidence
Yeh thanks, seems these challenger banks are a bit more cautious than traditional banks. I assume they have no 50:50 H&W companies then either!
Try debtors......