Houses

[Adster]

On 07/08/2017 at 11:25, HowardsBulletHeader said:

Can anyone who has applied for a mortgage recently clear something up for me? 

 

I've heard a few things regarding online gambling and mortgages. One side of the story is that it blows it completely if you have anything on your statements within 12-18 months. Another is that it does impact but not massively, it's providing that you spend within your means and don't increase your spend on gambling.

 

I online gamble regularly during the football season probably between £10-£50 a week it really depends what is on. I bet football mainly, golf (majors only) and very occasionally horses. On average I'd say I spend £20 a week. Thanks.

I wouldn't worry too much about that. 

 

My mortgage advisor said so long as your statements don't show you make sacrifices to gamble instead it's all good. They might ask you about your gambling if they see it on your bank statements but you'll be fine so long as like £500 a month isn't going out your account 

[Innovindil]

Just had my mortgage offer through the post! It's happening! 

[Foxhateram]

We're about to profit 35k on our new build. In Devon there are so many new build houses that you can get them dirt cheap, cheaper than a second hand equivalent and easily make a profit when someone who wants nearly new pops along. 

 

Anyone got and advice or tips on offering before your sold? Can you even do that? 

[Adster]

After such a long slog, me and my partner have finally had an offer accepted on a house! Finally! We're so relieved.

 

We know it's not a formality it's ours yet. But with it being so hard to find anything decent and this one ticking all the boxes we're delighted at the moment.

 

Thanks to all on FT for your help.

[syston_fox]

21 hours ago, Adster said:

After such a long slog, me and my partner have finally had an offer accepted on a house! Finally! We're so relieved.

 

We know it's not a formality it's ours yet. But with it being so hard to find anything decent and this one ticking all the boxes we're delighted at the moment.

 

Thanks to all on FT for your help.

Happy days!!

 

We've moved on with ours as well now. Had a chap come back last week for a second viewing having gone into hiding for two weeks and then he offered full asking price within half an hour of leaving. 

 

Now at the fun stage of solicitors and estate agents who I swear are competing to be as frustrating as possible: 

- On Friday I took our mortgage in principal decision into vendor's estate agents along with my ID. He took a copy while I was with him, read it and filed it. Monday morning, I get a call from the same chap saying that he has my ID but is still waiting on the mortgage in principal documents..... 

- Yesterday signed some documents for the solicitors, my wife took them in along with my ID. Today have an e-mail asking when am I going to complete and sign them. Tell them that my wife did it yesterday, solicitor denies all knowledge. We have to go in, she shows us the blank form to prove that it's not completed. Underneath the blank form she picks up from our file, is our completed and signed one and all our ID. Fills you with great confidence! 

 

 

 

 

 

[Adster]

1 minute ago, syston_fox said:

Happy days!!

 

We've moved on with ours as well now. Had a chap come back last week for a second viewing having gone into hiding for two weeks and then he offered full asking price within half an hour of leaving. 

 

Now at the fun stage of solicitors and estate agents who I swear are competing to be as frustrating as possible: 

- On Friday I took our mortgage in principal decision into vendor's estate agents along with my ID. He took a copy while I was with him, read it and filed it. Monday morning, I get a call from the same chap saying that he has my ID but is still waiting on the mortgage in principal documents..... 

- Yesterday signed some documents for the solicitors, my wife took them in along with my ID. Today have an e-mail asking when am I going to complete and sign them. Tell them that my wife did it yesterday, solicitor denies all knowledge. We have to go in, she shows us the blank form to prove that it's not completed. Underneath the blank form she picks up from our file, is our completed and signed one and all our ID. Fills you with great confidence! 

 

 

 

 

 

Good to hear you're making progress.

 

I've just been phoning around the solicitors in our area also. I've already had conflicting info from Halifax and the estate agents in regards to our DIP. There are so many fees and searches the solicitors take! Google is definitely my friend as I'm a complete amateur at this

[syston_fox]

13 minutes ago, Adster said:

Good to hear you're making progress.

 

I've just been phoning around the solicitors in our area also. I've already had conflicting info from Halifax and the estate agents in regards to our DIP. There are so many fees and searches the solicitors take! Google is definitely my friend as I'm a complete amateur at this

Ditto! 

 

We just seem to be going along with the flow now. From what we found, solicitor fees seem to be fairly standard. We got quite a few quotes and all were within about £150 of each other.

 

We've actually landed in pretty much the dream scenario with our house. The people buying ours are first time buyers and the person we're buying off is moving in with family so the chain is minimal! Watch there still be some snags somewhere though!  

[Costock_Fox]

3 hours ago, syston_fox said:

Happy days!!

 

We've moved on with ours as well now. Had a chap come back last week for a second viewing having gone into hiding for two weeks and then he offered full asking price within half an hour of leaving. 

 

Now at the fun stage of solicitors and estate agents who I swear are competing to be as frustrating as possible: 

- On Friday I took our mortgage in principal decision into vendor's estate agents along with my ID. He took a copy while I was with him, read it and filed it. Monday morning, I get a call from the same chap saying that he has my ID but is still waiting on the mortgage in principal documents..... 

- Yesterday signed some documents for the solicitors, my wife took them in along with my ID. Today have an e-mail asking when am I going to complete and sign them. Tell them that my wife did it yesterday, solicitor denies all knowledge. We have to go in, she shows us the blank form to prove that it's not completed. Underneath the blank form she picks up from our file, is our completed and signed one and all our ID. Fills you with great confidence! 

 

 

 

 

 

All I would say from experience is to keep on the estate agents and solicitors tails. If they tell you something is being done ask them when and what the next steps are after that.

 

They are all a complete liability, good luck.

Edited 22 August 2017 by Costock_Fox

[Babylon]

On 8/21/2017 at 14:27, Adster said:

After such a long slog, me and my partner have finally had an offer accepted on a house! Finally! We're so relieved.

 

We know it's not a formality it's ours yet. But with it being so hard to find anything decent and this one ticking all the boxes we're delighted at the moment.

 

Thanks to all on FT for your help.

That was the easy bit, now for the absolute shite that comes from being in a chain, solicitors, survery and estate agents who are all completely useless. We had two fall through before finally getting our third and it cost me thousands extra thanks to people changing their mind and mucking about.

[Innovindil]

47 minutes ago, Babylon said:

That was the easy bit, now for the absolute shite that comes from being in a chain, solicitors, survery and estate agents who are all completely useless. We had two fall through before finally getting our third and it cost me thousands extra thanks to people changing their mind and mucking about.

This is the exact reason I'm so glad I'm not in a chain. We're not selling one and the guy we're buying from is moving in with his missus, so he's not buying one. Should be easy as long as he don't have a bust up with his missus I guess 

[Babylon]

12 minutes ago, Innovindil said:

This is the exact reason I'm so glad I'm not in a chain. We're not selling one and the guy we're buying from is moving in with his missus, so he's not buying one. Should be easy as long as he don't have a bust up with his missus I guess 

One of mine wasn't in a chain and still couldn't complete because the survey found loads of problems!

 

First one we'd done everything all ticking along... then the people decided they no longer wanted to sell last minute. Money down the drain on solicitor, survey etc!

[Innovindil]

15 minutes ago, Babylon said:

One of mine wasn't in a chain and still couldn't complete because the survey found loads of problems!

 

First one we'd done everything all ticking along... then the people decided they no longer wanted to sell last minute. Money down the drain on solicitor, survey etc!

Ack. Literally my biggest fear, we're working on a fairly tight budget as it is, if we have to fork out for another solicitor we'd be struggling. Awful stuff. 

[syston_fox]

I wasn't nervous until reading Bab's posts.... now I'm convinced ours is going to fall through! 

[Simi]

18 hours ago, Costock_Fox said:

All I would say from experience is to keep on the estate agents and solicitors tails. If they tell you something is being done ask them when and what the next steps are after that.

 

They are all a complete liability, good luck.

They really are a liability.

 

They cannot follow simple instructions / request. It is almost painful. The amount of times I simply asked to be kept updated of the situation and then didn't hear anything for a week was infuriating. All it would've taken was a short e-mail to say "Hi, no news yet, have chased their solicitor and will call you on Friday". Little things like that they just cannot do. Then I feel bad for chasing them asking them for an update. I get that things move slowly, but it really isn't a big ask just to have an update every few days. 

[Legend_in_blue]

All solicitors seem to do is shift paperwork at a snails pace.

 

Is that daft homebuyer's pack still required?  Remember paying £250 for mine.  Complete waste of time and money.  As are most solicitors fees for shifting paperwork through.

[Costock_Fox]

4 hours ago, Simi said:

They really are a liability.

 

They cannot follow simple instructions / request. It is almost painful. The amount of times I simply asked to be kept updated of the situation and then didn't hear anything for a week was infuriating. All it would've taken was a short e-mail to say "Hi, no news yet, have chased their solicitor and will call you on Friday". Little things like that they just cannot do. Then I feel bad for chasing them asking them for an update. I get that things move slowly, but it really isn't a big ask just to have an update every few days. 

I called mine every two days to the point where i pissed them off that much that they couldn't wait to get rid of me.

[simFox]

My conveyancer drew the money from the bank, then the people didn't move out on time, took another week. In the meantime, my bank started charging interest. So I charged it back to the conveyancer. He wasn't happy about it at all, poor darling.

[syston_fox]

Random question..... has anyone else had to jump through hoops lately for the estate agent that they are BUYING the house from?

 

We've had to go in and provide details of identity for money laundering purposes (which is fair enough) and show a mortgage in principle document to confirm we're not wasting time when the offer was accepted on the house we wanted.

 

Things then went quiet for 2 weeks and then we were asked to provide a current mortgage statement to show the equity in the house we were selling. Frustrated that this has taken two weeks but I took it in....

 

A week later, had a phone call to say that there was an issue and the mortgage in principle plus the equity in our house was £157 short of the offer we had put in and we needed to prove that we could afford the balance. In reality, its because the MIP was done at the start of the month and the mortgage statement I provided was from the end of the month and so it was just the interest we'd been charged that month. 4 days later, our next mortgage payment would be made and it would swing the other way and technically there would be too much with the MIP plus equity. I explained this to them and was told they would not proceed until I confirmed I had £157 in a bank account yet was not allowed to use a printout from internet banking or an ATM receipt, it had to be a physical bank statement received from the bank. As they had dragged their heels for so long and our solicitors needed the memo of sale, I went in with a three week old statement and told them how stupid they were being. I used a statement of an old savings account with a couple of hundred quid in that was dated the 3 weeks ago. Gave it to them and pointed out the fact that it was old and said that I would not be willing to confirm that that amount was still in the account as at today and whether that would be acceptable - shockingly they said yes at which point I confirmed how stupid the rules were. Proving that we have the balance is fair enough and I would expect that from solicitors but not from bloody estate agents!! 3 weeks from having an offer accepted to them actually processing the memo of sale? Our estate agents had done our sale within 24 hours of solicitors being appointed! 

[Adster]

After a long wait from the solicitors, we are finally picking up the keys for our house today! So excited.

[simFox]

On 10/11/2017 at 11:46, Adster said:

After a long wait from the solicitors, we are finally picking up the keys for our house today! So excited.

Good luck, great feeling when moving in for the first time

[Tommy G]

Does anyone on here have a buy to let? Not looking at buying a buy to let but considering letting our house out, bought get 3 years ago for 168k, valued now for £202k and we have about £130k left on the mortgage. It’s a 2 bed cottage in Burbage. 

 

Considering moving in with the in laws for 18 months, hopefully saving 30k in the process at least - and letting ours out then probably remortgaging in 18 months to release some equity if we need it for our new place in addition to what we have saved. 

 

Not it sure where to start with planning this - could do with some advice from somebody in a similar position 

[Costock_Fox]

10 minutes ago, Tommy G said:

Does anyone on here have a buy to let? Not looking at buying a buy to let but considering letting our house out, bought get 3 years ago for 168k, valued now for £202k and we have about £130k left on the mortgage. It’s a 2 bed cottage in Burbage. 

 

Considering moving in with the in laws for 18 months, hopefully saving 30k in the process at least - and letting ours out then probably remortgaging in 18 months to release some equity if we need it for our new place in addition to what we have saved. 

 

Not it sure where to start with planning this - could do with some advice from somebody in a similar position 

Moving in with the in laws? Hope you get on with them as that’s brave

 

To answer your question I have rented my house out in the past and found it to be very frustrating and realistically you don’t make money from the property but obviously it keeps ticking over and the potential of he value rising will help

in the long term.

 

My tenants threw away expensive items such as curtains to replace them with ASDA ones and fitted a ****ing dog flap in my back door but claimed not to have had one. Wasn’t like it was in a rough area but getting the right tenants is key.

Edited 12 November 2017 by Costock_Fox

[Tommy G]

3 minutes ago, Costock_Fox said:

Moving in with the in laws? Hope you get on with them as that’s brave

Yeh get on fine thankfully - at the moment they have a decent sized 5 bed detached and always away on hol etc so 3/4 months of the year they will be away. 

 

Just weighing up options - 12-18 months is a short investment if it means we can end up owning 2 places in n the long term. Interested to hear from anyone who lets their house out 

[Costock_Fox]

Just now, Tommy G said:

Yeh get on fine thankfully - at the moment they have a decent sized 5 bed detached and always away on hol etc so 3/4 months of the year they will be away. 

 

Just weighing up options - 12-18 months is a short investment if it means we can end up owning 2 places in n the long term. Interested to hear from anyone who lets their house out 

I edited my post to answer your question.

 

One thing I would say is don’t use a letting agent, complete waste of time if you think people will want a rental in your area.

 

[Tommy G]

6 minutes ago, Costock_Fox said:

Moving in with the in laws? Hope you get on with them as that’s brave

 

To answer your question I have rented my house out in the past and found it to be very frustrating and realistically you don’t make money from the property but obviously it keeps ticking over and the potential of he value rising will help

in the long term.

 

My tenants threw away expensive items such as curtains to replace them with ASDA ones and fitted a ****ing dog flap in my back door but claimed not to have had one. Wasn’t like it was in a rough area but getting the right tenants is key.

Will depend on interest rates of course but the mortgage at the Min is £540 and we should get £850 in rent so will make a bit each month (hopefully)