Rodders Posted June 21, 2017 Share Posted June 21, 2017 I haven't, and I have no intention of doing any renovating. I've obviously got a 'house fund' savings in case of replacement needs, but I elected against. If I had a bit more money spare I may have done, and I definitely would for when I would move into a bigger house down the line where I may well intend on being there possibly permanently but my plan is only to be where I am for roughly 4-6 years, so I thought it was a risk to take. Cue my fateful lament in this thread in a few weeks time once I've moved in obviously. 1 Link to comment Share on other sites More sharing options...
Popular Post Rodders Posted June 23, 2017 Popular Post Share Posted June 23, 2017 Completion! Now to move it all in. I'm a home owner. Eek. 7 Link to comment Share on other sites More sharing options...
TrentVilla Posted June 23, 2017 Moderator Share Posted June 23, 2017 And inviting the neighbours to put their keys in a bowl by the look of it... 1 Link to comment Share on other sites More sharing options...
magnkarl Posted June 23, 2017 Share Posted June 23, 2017 27 minutes ago, TrentVilla said: And inviting the neighbours to put their keys in a bowl by the look of it... And by the looks of it he's got enough keys to split his into two chains. That way he'll get double the action. 1 Link to comment Share on other sites More sharing options...
omariqy Posted June 23, 2017 Share Posted June 23, 2017 1 hour ago, TrentVilla said: And inviting the neighbours to put their keys in a bowl by the look of it... I tried that but no one else followed? Weird. Link to comment Share on other sites More sharing options...
Xela Posted June 23, 2017 Share Posted June 23, 2017 6 hours ago, Rodders said: Completion! Now to move it all in. I'm a home owner. Eek. Excellent mate, congratulations! 1 Link to comment Share on other sites More sharing options...
Rugeley Villa Posted June 23, 2017 Share Posted June 23, 2017 6 hours ago, Rodders said: Completion! Now to move it all in. I'm a home owner. Eek. Let us know the address over pm and I shall be round with a bottle of vimto and some soup when you have the housewarming party. Link to comment Share on other sites More sharing options...
Rodders Posted June 24, 2017 Share Posted June 24, 2017 Cheers, and I er will let you know Ruge, but er, nearby we don't do cucumbers so you may be disappointed. Still mid move and clearing ( didn't do a removals van, decided to do it all myself) but just spent the day at IKEA. Half love it, half hate it. My partner is swedish and flipping well loves it. Going back in a month - oh you poor credit card, however having made the decision in invest in some decent furniture for a change it's all rather exciting Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted July 1, 2017 Share Posted July 1, 2017 Any advice on who to speak to initially look at the finances before actually applying for a mortgage, the bank or someone else? I think I'm seriously going to have to look at doing a help to buy on a new build as house prices by me are pretty steep. It's only been recently I've even been looking at what the market is like round here and what's available, and not really worked out what I might be able to afford. Link to comment Share on other sites More sharing options...
PompeyVillan Posted July 1, 2017 Share Posted July 1, 2017 We spoke to a financial advisor before buying. We paid them a fee on completion and they got comission too. But it was money well spent. 2 Link to comment Share on other sites More sharing options...
Rodders Posted July 1, 2017 Share Posted July 1, 2017 yeah i spoke to a couple of different mortgage advisors - they were associated with estate agents so they were both trying to get you to commit, obviously, but they were also pretty good at laying out the general cost of moving, and looking at what possible mortgages would be available based on our circumstances which was great for giving us an idea of what we could look for. I knew nothing really before, so even just knowing i could go for a short fixed term deal on a long term basis and then always reduce that if circumstances get better over time was new to me and helpful. 1 Link to comment Share on other sites More sharing options...
wilko154 Posted July 1, 2017 Share Posted July 1, 2017 1 hour ago, AlwaysAVFC said: Any advice on who to speak to initially look at the finances before actually applying for a mortgage, the bank or someone else? I think I'm seriously going to have to look at doing a help to buy on a new build as house prices by me are pretty steep. It's only been recently I've even been looking at what the market is like round here and what's available, and not really worked out what I might be able to afford. Just in the process of buying my first house, I did all my research online and then visited a bank to arrange the mortgage. Although a mortgage advisor can do this all on your behalf and possibly get a better deal. I started looking at new builds as well with the HTBI, but when you factor in the extra costs involved and the fact that you won't be able to make your house anymore profitable yourself, buying new doesn't sound so great. The house I am now buying needs a lot of work (decorative) to modernise it but will then be worth a fair bit more. Also got a great price on it due to people not being able to see past it's current dated look. But each to their own Good luck! 1 Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted July 2, 2017 Share Posted July 2, 2017 7 hours ago, wilko154 said: I started looking at new builds as well with the HTBI, but when you factor in the extra costs involved and the fact that you won't be able to make your house anymore profitable yourself, buying new doesn't sound so great. The house I am now buying needs a lot of work (decorative) to modernise it but will then be worth a fair bit more. Also got a great price on it due to people not being able to see past it's current dated look. But each to their own Good luck! Yes I think if I can avoid it, I'd rather not go down the help to buy route. It's just from what I've seen, houses round here that still need modernising are mostly still quite expensive. I think I first just need to see what I can realistically afford and then just see what's about. The deposit isn't so much an issue, it would be the actual mortgage. I'm happy to do some work as long as it would be something we could move into while it's being done. The third option for us is, we live in a housing association house, which my Mrs has been here for 3 years. There seems to be lots of conflicting information about right to acquire in terms of time in the house and even if right to buy is possible in the future. Although either way this would be if we couldn't afford anything else as we could really do with an extra bedroom. Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted July 2, 2017 Share Posted July 2, 2017 In terms of new builds, is the the price they are listed at like a car, in terms of you'd never pay asking price? Although I'm pretty sure the housing going up in the next town for 2,3,4 beds had prices starting at £327k a month or so ago and looked yesterday and it was £367k so going by that your not getting much off when you enquire if it's going up like that. Link to comment Share on other sites More sharing options...
Kingman Posted July 2, 2017 Share Posted July 2, 2017 (edited) Been looking for a move for a while now but have finally made a decision to sit on the sides and watch what happens over the next 12 months. Its no big secret that a slow down is around the corner so won't be long till the bubble bursts. Edited July 2, 2017 by Kingman 1 Link to comment Share on other sites More sharing options...
TrentVilla Posted July 2, 2017 Moderator Share Posted July 2, 2017 Just now, Kingman said: Been looking for a move for a while now but have finally made a decision to sit on the sides and watch what happens. Its no big secret that a slow down is around the corner so won't be long till the bubble bursts. Prices might stop going up but they are pretty unlikely to go down. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted July 2, 2017 Share Posted July 2, 2017 The data isn't looking great, sales are slowing, one would imagine this will be intensified by Brexit as naturally, reduced immigration will take more demand out of the market. Personally, I'm holding fire on buying, doesn't really feel like the right time to me, talking to some people in the industry there's a sense that prices could go down fairly significantly over the course of the next 2 years. Link to comment Share on other sites More sharing options...
Kingman Posted July 2, 2017 Share Posted July 2, 2017 6 minutes ago, TrentVilla said: Prices might stop going up but they are pretty unlikely to go down. High prices and hefty stamp duty bills have resulted in a near one-third drop in house moves in some parts of the country over the past year mate, Throw in a few other ingredients such as 10 year low GBP, inflation, brexit uncertainty, false interest rates resulting in people lending more than they can afford to pay back when rates increase etc. Im no economist or financial analysts but in my opinion it won't be long till the arsehole falls out the price and along come the repossessions. Link to comment Share on other sites More sharing options...
TrentVilla Posted July 2, 2017 Moderator Share Posted July 2, 2017 8 minutes ago, Kingman said: High prices and hefty stamp duty bills have resulted in a near one-third drop in house moves in some parts of the country over the past year mate, Throw in a few other ingredients such as 10 year low GBP, inflation, brexit uncertainty, false interest rates resulting in people lending more than they can afford to pay back when rates increase etc. Im no economist or financial analysts but in my opinion it won't be long till the arsehole falls out the price and along come the repossessions. Which is what people were saying in 2008 as well but it didn't really happen. Yes a rise in sharp rise in interest rates would likely see an increase in repossessions but there isn't a sharp rise coming. The market might stagnate, growth might slow or even stop but there isn't a nationwide crash looming even if there are regional fluctuations. 1 Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted July 2, 2017 Share Posted July 2, 2017 (edited) Rates are likely to rise and that will be passed on to mortgages and should in principle choke off some demand. The press today are running with doomsday scenarios, doubt that will happen but I'd wager some sort of downward pressure on prices to come. I expect more than just stagnation. Edited July 2, 2017 by Dr_Pangloss Link to comment Share on other sites More sharing options...
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