Houses

[Tommy G]

Just now, Costock_Fox said:

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.

 

No won’t be using an agent - considering leaving it fully furnished. Any legals can be done by my brother in law as he’s a solicitor 

[Costock_Fox]

7 minutes ago, Tommy G said:

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)

Good profit margin I guess but bear in mind any repairs, safety alterations and time with no tenants eat into the profit.

 

One thing I forgot as well is tax returns so save any receipts for any improvements etc.

[Tommy G]

8 minutes ago, Costock_Fox said:

Good profit margin I guess but bear in mind any repairs, safety alterations and time with no tenants eat into the profit.

 

One thing I forgot as well is tax returns so save any receipts for any improvements etc.

 

Cheers - im an accountant by trade so understand the snore fest of tax. I will be “putting through” as much as possible. More capital growth I’m keen on and any profit will be a bonus. Thanks for replying 

[deejdeej]

Can anybody recommend a decent solicitor for buying a house? We've had an offer accepted on our dream home, mortgage in principle sorted and are first time buyers with the sellers not waiting on a chain so hopefully a straght forward case (as far as houses are concerned).

 

Also is there a big difference between a conveyancer and solicitor? Purple Bricks have offered to get us a solicitor but I'm fairly certain it'll be charging over the odds. And can anyone tell me the usual fee for something like this? I realise I probably sound pretty simple right now but it's our first home and all that

[Innovindil]

2 hours ago, deejdeej said:

Can anybody recommend a decent solicitor for buying a house? We've had an offer accepted on our dream home, mortgage in principle sorted and are first time buyers with the sellers not waiting on a chain so hopefully a straght forward case (as far as houses are concerned).

 

Also is there a big difference between a conveyancer and solicitor? Purple Bricks have offered to get us a solicitor but I'm fairly certain it'll be charging over the odds. And can anyone tell me the usual fee for something like this? I realise I probably sound pretty simple right now but it's our first home and all that

If you're in Leicester, I've just used Roberts Rose partnership in town. Cost about £1400. They were decent with us tbf, talked us through everything (this was our first buy) and didn't mess us about. 

 

They also sort the conveyancing out, included in that price. 

 

Good luck. 

[Otis]

Best thing to do is ring a couple of local ones and ask for quotes, any decent solicitor will be happy to do this. We recently moved again and used Kelly&Co both times.

[jonthefox]

1 minute ago, Otis said:

Best thing to do is ring a couple of local ones and ask for quotes, any decent solicitor will be happy to do this. We recently moved again and used Kelly&Co both times.

Far too slow. We had all our paper work done and had to wait 3 weeks to complete because of them. 

[Otis]

1 minute ago, jonthefox said:

Far too slow. We had all our paper work done and had to wait 3 weeks to complete because of them. 

Ok, just saying but we didn't have any issues with their efficiency.

[Jattdogg]

We bought before we sold. A bit risky but knew our place would sell.

 

Bought a home on november 2nd which was finalized on the 7th. Put ours up for sale on the 13th and it sold on the 14th. Today we got confirmation that the buyers  have satisfied their financing so the deal is official. Super excited about the move other than it being in the dead of winter here in Canada (late jan). 

 

 

[Simi]

16 hours ago, deejdeej said:

Can anybody recommend a decent solicitor for buying a house? We've had an offer accepted on our dream home, mortgage in principle sorted and are first time buyers with the sellers not waiting on a chain so hopefully a straght forward case (as far as houses are concerned).

 

Also is there a big difference between a conveyancer and solicitor? Purple Bricks have offered to get us a solicitor but I'm fairly certain it'll be charging over the odds. And can anyone tell me the usual fee for something like this? I realise I probably sound pretty simple right now but it's our first home and all that

Not sure where you're based but Heather Phillip in Syston are excellent.

[deejdeej]

4 minutes ago, Simi said:

Not sure where you're based but Heather Phillip in Syston are excellent.

Thanks I'm based in Leicester so will have a look into them

[James.]

London market is getting a bit ugly. Ours has been on the market for 5 months... we've reduced price twice, had no offers and only a couple of second viewings. We're a little out of range for most first time buyers so even if Phil drops stamp duty for that group I doubt it's going to help us much.

 

We're now looking into putting it into a raffle which I like the idea of in principal just not sure how realistic it is practically speaking.

[Turbogre]

Looking for somewhere to rent in the Aylestone/ Glenfield area, preferably a 3 bedroom house with a garden if anyone knows of any private landlords? 

[syston_fox]

On ‎22‎/‎08‎/‎2017 at 13:10, syston_fox said:

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!  

Famous last words..... we've still not moved!! 

 

Our solicitors have been spot on and our paperwork has been done and agreed back in October. Then person we are buying off has since found a property and no longer moving in with family so whole process stalled and a new chain attached. Her solicitors have been fricking useless - no communication coming out from them at all and also were not on the approved list of solicitors for her bank so had to have a second solicitor working alongside dealing with the mortgage. Hoping to still be in by Christmas but so bloody frustrating. 

 

 

[Innovindil]

BREAKINGStamp duty scrapped for first-time buyers

First-time homebuyers will no longer have to pay stamp duty for properties of up to £300,000.

The chancellor announces he is abolishing the charge from today.

It will also be available on the first £300,000 of the purchase price of properties up to £500,000.

 

Good news for the first time buyers here! 

[Rogstanley]

The average first time buyer house costs what, £130k? They'll be saving about 50p. Great for those wealthy first time buyers buying £300k houses, not so good for normal people.

[Innovindil]

1 minute ago, Rogstanley said:

The average first time buyer house costs what, £130k? They'll be saving about 50p. Great for those wealthy first time buyers buying £300k houses, not so good for normal people.

Mine was £145k and the stamp duty was £500. Not exactly bank breaking, but shouldn't be grumbled at either. 

[Bobby Hundreds]

I'm in the process of buying now, I'll save £1500. Cheers Phil. 

 

 

[Webbo]

I'm in the process of buying a house, hopefully moving next month. I'm not a first time buyer so it won't affect me.

[adam]

10 hours ago, deejdeej said:

Thanks I'm based in Leicester so will have a look into them

I'm also using heather Philips from Syston. So far so good. 

[Webbo]

Just now, adam said:

I'm also using heather Philips from Syston. So far so good. 

Me too.

[Steve_Walsh5]

12 hours ago, Webbo said:

I'm in the process of buying a house, hopefully moving next month. I'm not a first time buyer so it won't affect me.

If you need a good painter & decorator let me know and I’ll pass on his number. 

[Jon the Hat]

22 hours ago, Rogstanley said:

The average first time buyer house costs what, £130k? They'll be saving about 50p. Great for those wealthy first time buyers buying £300k houses, not so good for normal people.

If your first time house costs £130k or indeed less, you live in an affordable area and therefore don't need help.  This is for those who struggle to get on the housing ladder.  Great move by the chancellor.

[David Guiza]

14 minutes ago, Jon the Hat said:

If your first time house costs £130k or indeed less, you live in an affordable area and therefore don't need help.  This is for those who struggle to get on the housing ladder.  Great move by the chancellor.

The difference in prices between Leicestershire and Warwickshire is astronomical at times. I used to live in Anstey whereby you can probably get a fairly average 2 bed property for £110/180,000.00. I now live in Kenilworth where you can barely see a flat for that price. Warwick, Leamington and the surrounding areas are the same too. If you wish to buy in this area you effectively have a choice of buying in Coventry (God forbid) or saving £20,000+ for the deposit.

 

The rental market isn't much better either, you'd be lucky to get any sort of house for less than £700/750 pcm. Sure it's an affluent area, but the division is nonsensical. 

[Rogstanley]

37 minutes ago, Jon the Hat said:

If your first time house costs £130k or indeed less, you live in an affordable area and therefore don't need help.  This is for those who struggle to get on the housing ladder.  Great move by the chancellor.

This is for Londoners then basically, because that's the only part of the country where you can't buy a house for £130k.