Houses

[Raj]

Have a ever mentioned my cousin is a mortgage advisor?? 😉

[NAKC20]

58 minutes ago, Raj said:

Have a ever mentioned my cousin is a mortgage advisor?? 😉

Yes about 58 minutes ago

[kenny]

2 hours ago, Tommy G said:

Avoid Coventry building society at all costs 

Is that relating to the warranty? Did you get it sorted?

[Tommy G]

7 minutes ago, kenny said:

Is that relating to the warranty? Did you get it sorted?

No - so basically they have declined currently but we are appealing. We have sent all docs including the signed building control cert showing it’s an extension - all over the plans and approval by the council it quotes extension - they haven’t flattened the bungalow it’s just been extended, it’s so frustrating. 
 

Coventry are considering getting it surveyed again at the moment. It’s touch and go tbh. 
 

We are starting to get pressure from below but I’m just ignoring atm. If we went with another lender and they decided they would lend, I reckon the mortgage would be another £400 a month, it’s already best part of £2.5k p/m, you’ve got to draw a line somewhere 

[kenny]

1 hour ago, Tommy G said:

No - so basically they have declined currently but we are appealing. We have sent all docs including the signed building control cert showing it’s an extension - all over the plans and approval by the council it quotes extension - they haven’t flattened the bungalow it’s just been extended, it’s so frustrating. 
 

Coventry are considering getting it surveyed again at the moment. It’s touch and go tbh. 
 

We are starting to get pressure from below but I’m just ignoring atm. If we went with another lender and they decided they would lend, I reckon the mortgage would be another £400 a month, it’s already best part of £2.5k p/m, you’ve got to draw a line somewhere 

£400 is a lot to suck up, hopefully the new surveyor agrees it's an extension and you are in. You would think mortgage providers would be glad of the fees the way things are at the moment.

[masterg59]

18 hours ago, The Hitman said:

Possibly the wrong thread but didn’t want to start a new one and it’s house related. 
 

Can anyone recommend a company that does good quality oak furniture?

 

Looking for a tv cabinet, large and possibly small sideboard and some sort of ladder/shelving unit. 
 

Below is the sort of thing we’re after but it’s only oak effect and would prefer the real deal. 
 

https://www.next.co.uk/style/st012073/q87701

we used the Cotswold company, we're very happy.

[Zear0]

15 minutes ago, masterg59 said:

we used the Cotswold company, we're very happy.

Got my bed from there and it's great, would also recommend.

[Harry96]

At the final stages of buying a flat as a first time buyer. Just some final enquiries being raised with the sellers solicitor but a lot of the paperwork suggest it’s worth having a survey done. Is this definitely something I should get and anyone know of approximate cost? 

[Zear0]

14 minutes ago, Harry96 said:

At the final stages of buying a flat as a first time buyer. Just some final enquiries being raised with the sellers solicitor but a lot of the paperwork suggest it’s worth having a survey done. Is this definitely something I should get and anyone know of approximate cost? 

Probably follow the advice of your solicitor on this one as is dependent on the property.  The only time I had a "proper" survey done was when I was moving into an 18th century cottage and wanted to be sure the thing wasn't likely to collapse (guy who did was an absolute t**t who arrived in a three-piece suit and got huffy when I demanded he go into the roof space under the thatch with all the spiders. I digress).  Depending on the leasehold arrangements, you might not be liable for structural issues in the building which would then be a "what's the point of a survey then?".  There's so many types of survey you can do, and if it's not required, then i'd put it back in your court re: peace of mind for yourself.

[VLC86]

7 hours ago, Harry96 said:

At the final stages of buying a flat as a first time buyer. Just some final enquiries being raised with the sellers solicitor but a lot of the paperwork suggest it’s worth having a survey done. Is this definitely something I should get and anyone know of approximate cost? 

As above, check with your solicitor. The only thing I’d say is that if you are truly in the final stages then asking for it at this stage isn’t likely to make everyone involved happy. Obviously you are spending a lot of money so it’s your decision but you could potentially really slow the process down.

[FoyleFox]

10 hours ago, Harry96 said:

At the final stages of buying a flat as a first time buyer. Just some final enquiries being raised with the sellers solicitor but a lot of the paperwork suggest it’s worth having a survey done. Is this definitely something I should get and anyone know of approximate cost? 

Usually a homebuyer survey is £200/300 and is requested by your mortgage lender, they insist on it, prior to them agreeing to lend you the mortgage. Has this not been completed? It would be unusual for you to be at the final stage without one - admittedly I'm only aware of this process when buying a house and not a flat. 

[Tommy G]

Completing on the sale of our house in the next 2-4 weeks just agreeing a date.

 

Not found one to move into, so moving into the in laws temporarily, I've got 6 months to find one to keep our 2.05% fix. 

 

Pro's: Cash in hand and mortgage ready to buy the next one which is attractive to a seller. 

 

Cons: Insert in laws jokes

[jgtuk]

1 hour ago, Tommy G said:

Completing on the sale of our house in the next 2-4 weeks just agreeing a date.

 

Not found one to move into, so moving into the in laws temporarily, I've got 6 months to find one to keep our 2.05% fix. 

 

Pro's: Cash in hand and mortgage ready to buy the next one which is attractive to a seller. 

 

Cons: Insert in laws jokes

Good luck, been there and I wouldn’t recommend. Just don’t make an impulsive purchase because of your situation, it’s easy to do… 

 

[Tommy G]

33 minutes ago, jgtuk said:

Good luck, been there and I wouldn’t recommend. Just don’t make an impulsive purchase because of your situation, it’s easy to do… 

 

We’ve been there before for 9 months in 2020 when we renovated the one we are selling - so I’m semi prepared!

[ketteringscott]

4 hours ago, FoyleFox said:

Usually a homebuyer survey is £200/300 and is requested by your mortgage lender, they insist on it, prior to them agreeing to lend you the mortgage. Has this not been completed? It would be unusual for you to be at the final stage without one - admittedly I'm only aware of this process when buying a house and not a flat. 

The mortgage company will only carry out a basic valuation to establish the value of the property, they will not commission a full homebuyer's survey.

[FoyleFox]

2 hours ago, ketteringscott said:

The mortgage company will only carry out a basic valuation to establish the value of the property, they will not commission a full homebuyer's survey.

Perhaps it's changed, or it's dependent on lender but, ours always did. I requested a revaluation in 2020 to confirm LTV and the survey included was a proper one, checking for damp, up in the loft etc.

[ajthefox]

On 17/01/2025 at 16:39, FoyleFox said:

Perhaps it's changed, or it's dependent on lender but, ours always did. I requested a revaluation in 2020 to confirm LTV and the survey included was a proper one, checking for damp, up in the loft etc.

For a flat I'd be very surprised if that were the case. 

 

Most likely the landlord/freeholder is responsible for buildings insurance and so getting a survey is only ever for your own piece of mind.

 

Issues in flats I'd expect to be either pretty obvious or beyond the scope of a survey.

 

 

[Izzy]

We've had our house on and off the market for the last 18 months. We keep changing agents because most of them are shite but we eventually found a decent one (good fella/Boro fan) and listed with them about 2 weeks ago.

 

Had three viewings and accepted an offer at our asking price on Saturday.

 

Not sure what the market is like in Leics but down here in rural Bucks the prices have tanked in the last 2 years. We've sold at 20% less than what we had it advertised for in Sept '23

 

The good news is that it's all relative, so properties round here that we want to upgrade to have also come down significantly. 

 

The bad news is that having enjoyed being mortgage free for the last few years, we've now got to get another one - but needs must.

 

Looking at four potential properties on Thursday and then hopefully making a decision.

 

Let the fun and games begin...

[Jon the Hat]

On 18/01/2025 at 00:39, FoyleFox said:

Perhaps it's changed, or it's dependent on lender but, ours always did. I requested a revaluation in 2020 to confirm LTV and the survey included was a proper one, checking for damp, up in the loft etc.

Most of the time I think they look on Google maps, run an online valuation using the usual property databases and update their LTV model.

[Wolfox]

24 minutes ago, Izzy said:

We've had our house on and off the market for the last 18 months. We keep changing agents because most of them are shite but we eventually found a decent one (good fella/Boro fan) and listed with them about 2 weeks ago.

 

Had three viewings and accepted an offer at our asking price on Saturday.

 

Not sure what the market is like in Leics but down here in rural Bucks the prices have tanked in the last 2 years. We've sold at 20% less than what we had it advertised for in Sept '23

 

The good news is that it's all relative, so properties round here that we want to upgrade to have also come down significantly. 

 

The bad news is that having enjoyed being mortgage free for the last few years, we've now got to get another one - but needs must.

 

Looking at four potential properties on Thursday and then hopefully making a decision.

 

Let the fun and games begin...

The market downturn works in your favour if upgrading…

 

would only be bad news if downsizing…

 

 

Well done and good luck in your new home…. Exciting !

 

[Izzy]

1 hour ago, Wolfox said:

The market downturn works in your favour if upgrading…

 

would only be bad news if downsizing…

 

 

Well done and good luck in your new home…. Exciting !

 

Thank mate.

 

One of the properties we're viewing on Thursday in the next village went on the market last May at £700k. It's been reduced twice since and now on at £600k. Needs a bit of work doing and I've already teed the agent up that we might offer £550k if it ticks the boxes and he reckons we've got a good chance of getting it at that.

 

It's been interesting to see the market around here 'correcting' itself as everything's been well over valued since Covid.

[Wolfox]

3 hours ago, Izzy said:

Thank mate.

 

One of the properties we're viewing on Thursday in the next village went on the market last May at £700k. It's been reduced twice since and now on at £600k. Needs a bit of work doing and I've already teed the agent up that we might offer £550k if it ticks the boxes and he reckons we've got a good chance of getting it at that.

 

It's been interesting to see the market around here 'correcting' itself as everything's been well over valued since Covid.

Wow…. That’s a huge drop

 

I suspect it was never worth £700k…. Just over enthusiastic/ unrealistic  pricing on their part…. 
 

The difference between prices at which properties are marketed and what people actually pay can be quite different…. There hasn’t been a 20% correction!

 

I last brought summer 2020 just as COVID pricing started to go nuts and I got it for ~10% less than it was first advertised …. I’m not convinced I got it cheap, but I think I got it for that market value…

[Tommy G]

3 minutes ago, Wolfox said:

Wow…. That’s a huge drop

 

I suspect it was never worth £700k…. Just over enthusiastic/ unrealistic  pricing on their part…. 
 

The difference between prices at which properties are marketed and what people actually pay can be quite different…. There hasn’t been a 20% correction!

 

I last brought summer 2020 just as COVID pricing started to go nuts and I got it for ~10% less than it was first advertised …. I’m not convinced I got it cheap, but I think I got it for that market value…

I think you're right - it depends on a lot of factors, how desperate the vendors are to sell - a divorce for example means you might be able to get better value. Also how long it's been on the market for. 

 

[Izzy]

Just had an offer accepted on our next place which was £5k under the maximum we wanted to pay for it.

 

Wheels in motion everywhere now and fingers crossed all goes to plan. The wife has her heart set on the new place and already planning all the work that needs doing on it.

 

I’m desperately trying to manage her expectations that things might still all go Pete but she’s already chosen who’s having what bedroom and researching new kitchens 

[jgtuk]

24 minutes ago, Izzy said:

Just had an offer accepted on our next place which was £5k under the maximum we wanted to pay for it.

 

Wheels in motion everywhere now and fingers crossed all goes to plan. The wife has her heart set on the new place and already planning all the work that needs doing on it.

 

I’m desperately trying to manage her expectations that things might still all go Pete but she’s already chosen who’s having what bedroom and researching new kitchens 

Have you got a buyer for yours already?