Houses

[z-layrex]

Living in Surrey I am always flabbergasted by what you get for your money in Leicester. Those houses would be pushing 750k down here.

[Footballwipe]

42 minutes ago, FoxesDeb said:

I think maybe it's just a bit too quirky for some people, it's certainly not to my taste and if I had that budget I could buy something much more homely and liveable. It's too blokey for me 😊 I much prefer this

 

https://www.rightmove.co.uk/property-for-sale/property-70463781.html

100%, look at other houses in that price bracket and you can take your pick from high quality, proper four bed houses in good locations with more character and more floor space.

 

Genuinely invested in how it does though now, I want to see how long it takes to sell!

 

 

[Wolfox]

6 viewings  for mine a week on Saturday…. Been very strict around approach (no touching etc.)

6 x 15 mins slots back to back…. It’s such a pain presenting the house properly…. Takes ages…. Better produce an offer!

 

Viewing a house on Monday that I’m pretty sure we’ll like…. A nice Victorian roomy place on a leafy road…. Already have upgrades in mind…. I do enjoy a project!

[Rob1742]

Solicitors are a problem at the moment, not that they weren’t before.

 

Just sold a property and I was emailing one to discuss them dealing with the sale. In the response back, it said “ we will endeavour to get back to your query within 2-3 working days, but in busy periods this maybe longer. We prioritise they work”

 

They did respond after two days, but two days for them to just send their details for me to pass onto the other side. So I bombed them out before we started. 
 

Imagine having a query and knowing you have to wait 2/3 days.

 

I used to have an amazing solicitor, she completed a sale from start to finish in four days once, but the good ones are hard to find, and in the current conditions it is a nightmare.

 

[Rob1742]

On 16/06/2020 at 10:53, z-layrex said:

No views on flat in 2 weeks now. Looking at the area our place is nicer than almost everything else comparatively priced. Do you think it's to do with the 5 and 10% mortgages not being offered right now?

Hold tight, lots of people separating. I had one to rent out recently with half a dozen wanting it, two of them wanting to take it without even viewing. 
Things might turn around for you now as the market is very strong at the moment with pending divorces and separations.

 

If you have looked in the market and see yours as favourable to the rest it should happen 

[Rob1742]

On 16/06/2020 at 15:53, Footballwipe said:

Had a few viewings now, hoping for offers soon. Location of the house is such a plus and it's in good nick. Just hope it catches the eye of the right person eventually.

 

We feel we're in a funny price bracket at the minute in terms of buying. The two houses we've put bids in on have been turned down due to people in better positions (plus one cash buyer which you just can't compete with) which is fair enough. The interest on both has been crazy. One had ten viewings and multiple offers, the other had eight viewings and multiple offers. Meanwhile houses just out of our price range that look amazing continue to sit on the market, untouched. We'll get there though!

 

Just want people's two pennies worth on this house, too, in Kirby Muxloe. I'm not interested in buying it but I'm intrigued as to people's opinions. It's been on the market since August last year at this price and it's kept popping up on search results over the last few months, so am sort of invested in its outcome now. They've just listed with a new agent. Do people think this is wildly overpriced or is it worth it? Gotta be some reason it hasn't shifted in nearly a year on the market?

In my opinion, it’s a house that a typical local builder has built. A builder can build, but often they try and fit in what they can on the land, rather than make it flow for what people need.

 

In my opinion it is cramped, the living area and kitchen with a staircase running through it is horrendous, then you have the narrow hall and a flat roof. 
 

There will be loads of new builds about from major house builders who he is competing with, who know how to make space work better. 
 

 

 

[Big Dave]

The new build looks well finished with some nice fixtures and fittings, but is poorly designed.  The garden is too small for that price of house.

My main concern is the staircase. A kitchen is one of the major sources of fire in a house, and your escape from upstairs is straight into a kitchen.  I am surprised that was passed by Building Control.  Also, and smelly / smoky cooking you do will go straight upstairs.

In my opinion, the kitchen diner should have been moved to the other side of the house.

[Leicester_Loyal]

https://www.bbc.co.uk/news/business-53084853

 

Nationwide want a minimum of 15% deposit now, rather than the 5% that they wanted a few weeks ago.

[z-layrex]

1 minute ago, Leicester_Loyal said:

https://www.bbc.co.uk/news/business-53084853

 

Nationwide want a minimum of 15% deposit now, rather than the 5% that they wanted a few weeks ago.

Would this just affect first time buyers? We have the mortgage on our 265k flat with them, is this going to affect us needing a mortgage on a 450k house? They don't pick up when you try to call. 15% will be a push.

[Leicester_Loyal]

1 minute ago, z-layrex said:

Would this just affect first time buyers? We have the mortgage on our 265k flat with them, is this going to affect us needing a mortgage on a 450k house? They don't pick up when you try to call. 15% will be a push.

Honestly have no idea mate. Best thing is to call them, but like you said will probably take a while for them to answer. Maybe try social media (Twitter etc.) to try and get a faster response? Gotta be a live chat service somewhere surely, they must be working from home.

[z-layrex]

5 minutes ago, Leicester_Loyal said:

Honestly have no idea mate. Best thing is to call them, but like you said will probably take a while for them to answer. Maybe try social media (Twitter etc.) to try and get a faster response? Gotta be a live chat service somewhere surely, they must be working from home.

Either way explains why we are struggling for views on our flat, how are first time buyers supposed to find this kind of money, especially with the prices in the south east.

[Innovindil]

Just now, z-layrex said:

Either way explains why we are struggling for views on our flat, how are first time buyers supposed to find this kind of money, especially with the prices in the south east.

Probably can't. But with the way the economy is banks would be putting themselves up for massive liabilities continuing to offer out 5%ers. People losing jobs left right and centre and house prices falling is a dangerous combo. 

[Leicester_Loyal]

Yeah I expect we'll hear something from the Government eventually with how they are going to combat it.

 

I'm bloody lucky I've been saving hard for the past 6 months, will have 20% deposit in a few weeks time. Thankfully prices in Leicester aren't that high compared to other parts of the country.

[z-layrex]

1 minute ago, Leicester_Loyal said:

Yeah I expect we'll hear something from the Government eventually with how they are going to combat it.

 

I'm bloody lucky I've been saving hard for the past 6 months, will have 20% deposit in a few weeks time. Thankfully prices in Leicester aren't that high compared to other parts of the country.

Honestly you're so lucky, its a beautiful part of the world to live and when I nose around on rightmove you dont feel like everything is a rip off, unlike down here. If all our mates weren't here we would seriously consider just moving to Leicester.

[Footballwipe]

Had an offer on the house! Hurrah! £8k lower than the asking price! Nope!

 

The people interested had their brother come and look with them as he rents out some other properties. Morphed into their chief negotiator to try and thrash a "quick sale" "Would £xxxk do it for you?" "these guys are ready to move quick."

 

"Speak to our agents" was the polite reply.

 

When the agent called I predicted the offer before she even said it to me. I'd written them off as soon as they bought their brother with them, tbh. We'll see what happens going forward.

[z-layrex]

1 minute ago, Footballwipe said:

Had an offer on the house! Hurrah! £8k lower than the asking price! Nope!

 

The people interested had their brother come and look with them as he rents out some other properties. Morphed into their chief negotiator to try and thrash a "quick sale" "Would £xxxk do it for you?" "these guys are ready to move quick."

 

"Speak to our agents" was the polite reply.

 

When the agent called I predicted the offer before she even said it to me. I'd written them off as soon as they bought their brother with them, tbh. We'll see what happens going forward.

I'd bite your hand off for 8k below asking tbh. 

[Footballwipe]

Just now, z-layrex said:

I'd bite your hand off for 8k below asking tbh. 

Aha I'm sorry

 

It's one of those situations for us where we don't need to move. We want to. So until we get a price we're comfortable with and works with our finances, especially as we were Sold STC a few weeks ago at the asking price, we're prepared to stick it out.

[David Guiza]

8 hours ago, Rob1742 said:

Solicitors are a problem at the moment, not that they weren’t before.

 

Just sold a property and I was emailing one to discuss them dealing with the sale. In the response back, it said “ we will endeavour to get back to your query within 2-3 working days, but in busy periods this maybe longer. We prioritise they work”

 

They did respond after two days, but two days for them to just send their details for me to pass onto the other side. So I bombed them out before we started. 
 

Imagine having a query and knowing you have to wait 2/3 days.

 

I used to have an amazing solicitor, she completed a sale from start to finish in four days once, but the good ones are hard to find, and in the current conditions it is a nightmare.

 

From my time in residential property I do find that solicitors get it in the neck when many things are out of their control, particularly at this moment in time. Most of my friends who work in Law are still on furlough, or at least working from home, and many of the local firms are only just returning back to any sense of normality. 

 

With Conveyancing there is a lot of things that simply take time. Mortgage offers, Local Authority Searches, Land Registry queries etc are out of their hands. Some local authorities can take in excess of 6 weeks to return search results, and virtually all lenders require a minimum of a Local Search in order to lend on a property. That said there are certainly some utterly useless firms and people, of course, particularly the factory firms who miraculously have great Google reviews.   

 

I worked in Conveyancing during the SDLT changes to higher rate properties and that's the only time I ever did a transaction in under a fortnight, and that was only because there was no mortgage/searches and had a cooperative solicitor on the other side too.  

 

5 hours ago, z-layrex said:

Would this just affect first time buyers? We have the mortgage on our 265k flat with them, is this going to affect us needing a mortgage on a 450k house? They don't pick up when you try to call. 15% will be a push.

Nope, we had to provide 15% on our purchase, even though we're only in effect borrowing a further £40,000. HSBC and some other lenders are doing 90% LTV I believe. 

 

Our buyers are having a 95% Nationwide mortgage, they have it approved and submitted and the valuer is due next week. Hoping as it's already in the works the decision won't be changed for them. 

[Leicester_Loyal]

https://www.bbc.co.uk/news/uk-53093127

 

This will probably help prevent any drops in the next few months?

Edited 18 June 2020 by Leicester_Loyal

[David Guiza]

27 minutes ago, David Guiza said:

Our buyers are having a 95% Nationwide mortgage, they have it approved and submitted and the valuer is due next week. Hoping as it's already in the works the decision won't be changed for them. 

Slide into Nationwide's DMs and was told that ongoing applications aren't affected, thankfully. I know there's nothing enquiries/search result wise that will cause any issues, so just hope there are no issues with down valuing as a result of the situation, or cold feet from our buyers. 

 

Once you get into the mindset that you're moving, it's hard to get out of it again. That's my excuse for the downturn in housework anyway. 

 

It's a chicken and egg situation with valuation really, isn't it? If lenders start down valuing properties then the market will collapse further? Economics has never been my strong point, but seems like it's in the best interests of the Government for lenders to not down value? 

[UniFox21]

7 hours ago, z-layrex said:

Would this just affect first time buyers? We have the mortgage on our 265k flat with them, is this going to affect us needing a mortgage on a 450k house? They don't pick up when you try to call. 15% will be a push.

As well, lots of people my age (year after graduating) are mainly just moving into house share situations renting singular rooms with the minority buying houses. 

[Langley]

As a mortgage adviser there are no 95 or even 90% LTV out there at the moment. 85% is the most you’ll get. 

[simFox]

On 09/06/2020 at 18:49, Julian Joachim Jr Shabadoo said:

Selling up can be a nightmare but just stay patient and you'll be alright

 

When selling my house last year in Birstall it was just about the cheapest semi in the village. I had feedback like "too small", "needs a bigger bathroom" and the best was "found a same size house just around the corner for £25k less so not buying"

 

£25k less? Wow I thought maybe I was somehow asking too much. Did a quick look and realised the cvnt meant Mowmacre Hill

Anyone else at his small semi? Ok, just me then.. 😁

[whitlock]

We’ve been told and promised that this Monday will be competition day and we will move, we’re currently in a chain on 5.

 

But we’ve yet to exchange, we’ve been promised that we’ll be exchanged everyday since the start of this week but still not done.

 

We’ve booked removals and started to pack, but if we don’t exchange today I’m nervous and not sure what to do!

 

If we don’t exchange and don’t move on Monday we’re lumbered with a packed house and a removal fee to pay, so I’m likely going to cancel the move if we’re not exchanged later today.

 

I’ve read that exchanging and completing on the same day isn’t uncommon but there is too much financial risk for us not to have some security in place before Monday.

 

Pain in the arse!

[Footballwipe]

Sold!

 

Got an offer from a nice young couple who really liked the place and we were pinning hopes on them offering. £1k below the asking price but we're cool with that because their situation suits us.

 

Viewings booked for tomorrow and Sunday on ones that we like. Here's hoping.

Edited 19 June 2020 by Footballwipe