Houses

[Unabomber]

33 minutes ago, Legend_in_blue said:

I'm struggling to understand how anyone is getting mortgages on anything at the moment.  Another 3 bed house goes on at 270k today - it's ridiculous.  Less than 8 years ago a 4 bed was 220k, new houses spring up, people get fleeced, same said houses are now being pushed at 50k+ more than people paid for them new a few years ago.

 

Crazy times.

 

Meanwhile the older stuff in the area gets pushed up in price in line with the newer builds and low and behold eventually people reduce prices on them to sell as prices are overinflated. 

 

Interest rates rise above 2-3% in the next 5 years and people will get screwed over.  Bound to happen.

It’s mental I bought my house 2 years ago for £135k a few months ago same house but worse position terrible state was sold for £170k. It just gets harder and harder for first time buyers to get anything without being completely mugged off. 

[Raj]

My cousin is a mortgage broker if anyone wants his number PM me.

[Izzy]

2 hours ago, Legend_in_blue said:

I'm struggling to understand how anyone is getting mortgages on anything at the moment.  Another 3 bed house goes on at 270k today - it's ridiculous.  Less than 8 years ago a 4 bed was 220k, new houses spring up, people get fleeced, same said houses are now being pushed at 50k+ more than people paid for them new a few years ago.

 

Crazy times.

 

Meanwhile the older stuff in the area gets pushed up in price in line with the newer builds and low and behold eventually people reduce prices on them to sell as prices are overinflated. 

 

Interest rates rise above 2-3% in the next 5 years and people will get screwed over.  Bound to happen.

It's nuts and I have massive sympathy for people trying to get on the property ladder.

 

It's equally as frustrating for those of us who've owned property for a while. We live in a poxy 3 bed terrace which was perfect 15 years ago before we had kids. Now they're older we desperately need to move to a bigger house, but to take the next step up to a four bed detached it's over half a million quid round here.

 

The only way to get what we want if is if we uproot and move up north. The reality is we'll probably stay here while they're teenagers and until they eventually move out.

 

I can genuinely see us staying in the same house for the rest of our lives and retiring here. 

[Jattdogg]

5 hours ago, Izzy Muzzett said:

It's nuts and I have massive sympathy for people trying to get on the property ladder.

 

It's equally as frustrating for those of us who've owned property for a while. We live in a poxy 3 bed terrace which was perfect 15 years ago before we had kids. Now they're older we desperately need to move to a bigger house, but to take the next step up to a four bed detached it's over half a million quid round here.

 

The only way to get what we want if is if we uproot and move up north. The reality is we'll probably stay here while they're teenagers and until they eventually move out.

 

I can genuinely see us staying in the same house for the rest of our lives and retiring here. 

Lol hoping. With expensive housing they might be there for a longer than expected time.

 

Housing where i live is bonkers. It was crazier last year though. My end unit townhouse  sold for  about $235k (£140k) over what i paid for it 6 years prior. Detached homes go for over £450k to £600k in my current neighbourhood. Dont know how people afford them with their Mercedes and other high end vehicles

Edited 22 September 2018 by Jattdogg

[HowardsBulletHeader]

10 hours ago, simFox said:

I went to a few brokers, the first wanted an up front fee. The second told me I couldn't get a mortgage with nationwide or first direct, I ended up with offers from both. The third started browsing on the internet looking at mortgages, I thought they had some special software with access to things I wouldn't. They're a farce. I quickly realised they also push products they get the best commission on.

 

Ended up doing the whole lot myself with careful consideration of my circumstances and got a pretty good deal.

 

In my view, go for a mortgage with no ECR, this means you can pay back as much as you like and also change the mortgage at anytime not when the deal ends with no penalty. I've paid back loads and remortgaged to 1.75%.

Thanks for this, this was what I have been told by others some I am not at all surprised. Probably confirms to me that it is a DIY job. 

[jonthefox]

It's hard to imagine that i bought my first house for £ 35 k .

[Mayofox]

Jon, never mind £35k, my father-in-law paid £2k in 1962 for our house. And he had to borrow £1k from his "rich" brother!

[simFox]

18 hours ago, Izzy Muzzett said:

It's nuts and I have massive sympathy for people trying to get on the property ladder.

 

It's equally as frustrating for those of us who've owned property for a while. We live in a poxy 3 bed terrace which was perfect 15 years ago before we had kids. Now they're older we desperately need to move to a bigger house, but to take the next step up to a four bed detached it's over half a million quid round here.

 

The only way to get what we want if is if we uproot and move up north. The reality is we'll probably stay here while they're teenagers and until they eventually move out.

 

I can genuinely see us staying in the same house for the rest of our lives and retiring here. 

We're waiting until after Brexit.

 

I bought our house for £280k, now worth about £350k, but now I'm married with 2 kids, we want a better area with better schools and a bigger house. The jump will see us around £600k+, or we get a better area with a smaller house, so we saving in the meantime and seeing where Brexit takes us, hopefully a bigger drop in the bigger houses and a smaller drop on my own!

[jonthefox]

4 hours ago, Mayofox said:

Jon, never mind £35k, my father-in-law paid £2k in 1962 for our house. And he had to borrow £1k from his "rich" brother!

My dad told me recently that when he bought the house i was born in the builder offered to build him a garage for £350 . 

He couldn't afford it. 

 

 

[Mayofox]

19 minutes ago, jonthefox said:

My dad told me recently that when he bought the house i was born in the builder offered to build him a garage for £350 . 

He couldn't afford it. 

 

 

Without going all Monty Python, my f-i-l also bought an additional quarter of an acre, to extend the garden, for £100.  Crazy, wasn't it?

[Webbo]

My dad bought his first house, a terrace house in Belgrave, for £750. He used to joke that when we moved to Rushey Mead his mortgage went up to £45 a month from £5 a month, and he was 6 months in arrears with that 

[Steve_Walsh5]

Do estate agents charge you for getting your house valued?

[Babylon]

14 minutes ago, Steve_Walsh5 said:

Do estate agents charge you for getting your house valued?

They shouldn't no, unless they are an unscrupulous robbing b******d.

 

They make enough money from the sale to be charging for that as well.

Edited 14 January 2019 by Babylon

[Mayofox]

18 minutes ago, Steve_Walsh5 said:

Do estate agents charge you for getting your house valued?

Hopefully different in UK, but I had the house valued at the end of last year. Irish estate agent calmly says That'll be €100.

[Buce]

7 minutes ago, Babylon said:

They shouldn't no, unless they are an unscrupulous robbing b******d.

 

They make enough money from the sale to be charging for that as well.

 

That’d be a yes then. 

[TiffToff88]

On 22/09/2018 at 18:15, Mayofox said:

Without going all Monty Python, my f-i-l also bought an additional quarter of an acre, to extend the garden, for £100.  Crazy, wasn't it?

You were lucky! We used to dream of having an additional quarter of an acre!

[Unabomber]

30 minutes ago, Steve_Walsh5 said:

Do estate agents charge you for getting your house valued?

No they don’t 

[Libertine]

Just putting ours up for sale with Newton Fallowell, photos done today. Agreed on the inflation of prices over the past few years, absolutely crazy. Though should hopefully make a decent profit on ours. Let the stress begin!

[syston_fox]

When we sold ours, we sold with Melton Premier (https://www.meltonpremier.co.uk) as they were much cheaper than the "high street" lot. In our mind, what does an estate agent actually do in the short term other than put your house on rightmove? In the end it was the best decision we made. The team there were brilliant and helped us push things through when Harrison Murray (who we bought from) and the solicitors were faffing around. They were also available to contact on the phone at any point, even outside of office hours and because they were a bit smaller, they knew all about our property without needing to look at the files etc. Total fee for selling our property with them was under £1k which was really cheap compared to what Harrison Murray, Spencers, Newton Fallowell etc quoted. 

 

Best advice as well is to get at least three valuations. We had two lots who came in and gave us a valuation for our property around what we were expecting and then one person came in and quoted £20k less than the other two. Ridiculous thing is that we had had it valued a year before by that company out of interest to see if we could afford to move and they had valued it at £15k higher than a year later. She then told me that most companies would try and charge a % of the sale fee but they didn't think that that was fair on us and quoted me a fee instead...... she seemed a bit confused when I pointed out that the fee she had just suggested for their services was more than the set percentage that she had warned me others would try and con me for. 

 

[RoboFox]

Absolute pipe dream owning anything south of Watford. 

 

Unfortunately I've ended up in a media career which is almost exclusively London or Manchester based. I don't want to move north, so I'm going to be pissing money up the wall on London / commuter belt rent forever. 

 

The other half an I realised the other day we'd spent nearly £90,000 on renting our current flat. No wonder we'd never be able to save for a deposit on a £300,000 one bed flat. 

 

Life.

[stripeyfox]

1 hour ago, syston_fox said:

When we sold ours, we sold with Melton Premier (https://www.meltonpremier.co.uk) as they were much cheaper than the "high street" lot. In our mind, what does an estate agent actually do in the short term other than put your house on rightmove? In the end it was the best decision we made. The team there were brilliant and helped us push things through when Harrison Murray (who we bought from) and the solicitors were faffing around. They were also available to contact on the phone at any point, even outside of office hours and because they were a bit smaller, they knew all about our property without needing to look at the files etc. Total fee for selling our property with them was under £1k which was really cheap compared to what Harrison Murray, Spencers, Newton Fallowell etc quoted. 

 

Best advice as well is to get at least three valuations. We had two lots who came in and gave us a valuation for our property around what we were expecting and then one person came in and quoted £20k less than the other two. Ridiculous thing is that we had had it valued a year before by that company out of interest to see if we could afford to move and they had valued it at £15k higher than a year later. She then told me that most companies would try and charge a % of the sale fee but they didn't think that that was fair on us and quoted me a fee instead...... she seemed a bit confused when I pointed out that the fee she had just suggested for their services was more than the set percentage that she had warned me others would try and con me for. 

 

Yeah I can vouch for Melton Premier as well. Charged me £400 to sell my house. The team were at the end of the phone any time I wanted them and they got me my asking price (or very close to it).

 

 

[Christoph]

Should be moving out this year. First time buyers. Me and my girlfriend have around £20k total for a deposit. Just saving up some money for doing up the house and furniture etc. Kind of shitting it to be honest. 

[Izzy]

38 minutes ago, Christoph said:

Should be moving out this year. First time buyers. Me and my girlfriend have around £20k total for a deposit. Just saving up some money for doing up the house and furniture etc. Kind of shitting it to be honest. 

Well that's one way of approaching it I suppose 

 

The other could be excitement, eventually getting on the ladder, owning your own gaff, making money from an investment, a new beginning, new neighbors, a new life together, a shared purpose etc, etc.

 

Being a first time buyer is the nuts mate. Enjoy the process 

[Jattdogg]

Jeeeeez here in Ontario when you sell your house you pay both the buyers and sellers agents. Usually the buyer agent gets 2.5% of the sale and your agent is negotiable but overall you are around  3.5% to 5% of total sale price. You are talking 20k to 40k canadian depending on market value and in the greater toronto area 20k is like a minimum.  Thats like 11k £ to 23k £.   Pure bollocks.

 

 

[Raj]

Might have mentioned but my cousin is an independent mortgage advisor who works for himself. PM me if you need his services.

Needless to say I get the same commission from my cousin that Shinji does everytine he scores a goal!!!