Everything was ready to go, but the buyer wants to delay because of the coronavirus advice
Q This is an awfully privileged question and I’m sure many will view my situation with glee. I am an “accidental” landlord. In order to be chain free when buying a home with my husband, I decided not to sell my small flat which I have rented out for the past few years.
I put the flat on the market in January with a view to selling before the end of the tax year to avoid the huge rise in capital gains tax that I will have to pay when the allowance disappears. However, due to the government clampdown on transactions I have now missed the deadline to exchange before 6 April. Everything was ready but, quite fairly, the buyer wanted to wait as per government advice. (My property is empty as my tenants moved out to make way for the buyer.) So I am now stuck with the mortgage to pay, the council tax and a bigger tax bill if the sale eventually goes through.
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