Mortgages

[Reacher]

I'm going through the conveyancing now, hoping to get the keys in four weeks. Going to be a long month!

[melons]

Start this lark again in September/October, so not looking forward to it.

 

 

 

 

Congratulations to those of you on your way too/in your new homes!

[Furmedge]

I went on the Natwest website before as they reckon they accept 9/10 mortgage application. I worked out me and the wife could get around £215k quite easily. Natwest offered us £340k! Now there's being accepted for a mortgage, and then there's paying it back. No way would we be able to afford the repayments on that on top of bills, loans, childcare (£750 a month, robbing cunts!) and living expenses.

Edited June 17, 2013 by Furmedge

[Stu Monty]

Going round to see that place that needed work again this week, with a mate who does that sort of thing. If he gives me a reasonable number for doing it up then I'll throw in a bid.

[Stu Monty]

Apparently the ballbags dishing out the money won't let me get a £150k mortgage on a £150k house if I knock them down and want to use the resulting gap on doing up the house.

 

Ballbags.

 

I'm not some fucking pauper, I'm coming at it with a decent deposit. Ballbags.

[Byrnie]

Myself and my girlfriend got approved for our mortgage on Friday, we have a deposit on a new build and we're hoping to have the keys in a few weeks.

 

I've read and had lots of people tell me it's very stressful buying your first home, but it's been smooth sailing so far. It's in the hands of the solicitors and estate agents at the moment. It'll feel like an eternity now waiting to get the keys.

[JBarnes]

Myself and my girlfriend got approved for our mortgage on Friday, we have a deposit on a new build and we're hoping to have the keys in a few weeks.

 

I've read and had lots of people tell me it's very stressful buying your first home, but it's been smooth sailing so far. It's in the hands of the solicitors and estate agents at the moment. It'll feel like an eternity now waiting to get the keys.

 

Chain free and off a home builder who will have solicitors who answer conveyancing questions immediately, basically you have gone down the quickest possible route for buying a house. Good luck!

[Byrnie]

Thanks, mate. It's exciting times for us.

[TheBitch]

Myself and my girlfriend got approved for our mortgage on Friday, we have a deposit on a new build and we're hoping to have the keys in a few weeks.

 

 

RIP. YNWA.

[Lario]

Christ, things are flying on yere side of the water. It's like reading posts from over here about 6-7 years ago before things went wallop.

 

A bit of advice, and it might go against the grain. I was told to work out the max you can get, and then try your best to get an extra 10% on top of it. It might put you under pressure for a while, but you'll have the house you want kitted out the way you want it.

 

We did that about 3 years ago. Things are tight every month, but we're ok. Never caught for bills, but we do without a night out a month, or Sky Sports, or whatever. The house makes it easy to stay in, and hopefully the young fellas will appreciate things when they're a bit older.

[Dan Vito Corleone]

Going to have to start getting involved with all this shite in the new year. Dreading it.

 

I'm watching how this Help to Buy scheme works. It gives me hope that I can buy a decent house in a good area because saving up for a deposit at the moment is nigh on impossible.

[Byrnie]

I was very premature saying it was plain sailing getting my mortgage and house. I don't think I'll ever move again. Really, really stressful.

 

Worth it in the end, mind.

[Dan Vito Corleone]

I've never heard anyone say it's easy or stress free. But I can't go on renting, I'm 30 next year and need to start planning for the future big time. This deposit scheme is the only way I can get it done though.

[Pureblood]

"Help to Buy", what the fuck is that all about (not having a go, AP)?  Help to fucking buy.  Fuck off.  How about, this might sound a bit crazy, putting legislation in place so that the housing market doesn't overheat, how about regulating short term lettings properly so that stock isn't gobbled up by greedy capitalist fucking cunts, how about making it harder for large companies to sack people instead of the other way around. That would be a start you Tory shits.  Then maybe, just maybe, people wouldn't need "help" to fucking buy their cunting home.

[Furmedge]

If it means my house price goes up then I'm all for it. Took a huge hit over the past few years, pretty much lost my deposit so if I can claw that back I'd be made up.

[Dan Vito Corleone]

"Help to Buy", what the fuck is that all about (not having a go, AP)?  Help to fucking buy.  Fuck off.  How about, this might sound a bit crazy, putting legislation in place so that the housing market doesn't overheat, how about regulating short term lettings properly so that stock isn't gobbled up by greedy capitalist fucking cunts, how about making it harder for large companies to sack people instead of the other way around. That would be a start you Tory shits.  Then maybe, just maybe, people wouldn't need "help" to fucking buy their cunting home.

 

House prices are stupid in the UK. Have been for years.

[lifetime fan]

Land bank tax, massive tax on foreign owned properties that are merely used for investment and never occupied and I'd double even treble council tax for empty second and third etc properties.

[lifetime fan]

I certainly wouldn't be artificially inflating the market subsidising people buying £600k properties for fucks sake.

[Champ]

I certainly wouldn't be artificially inflating the market subsidising people buying £600k properties for fucks sake.

 

Appalling listening to some Housing minister repeatedly dodging the rise in cost to income price of housing in recent years this morning.

 

'We'll do what we want....'

[cochyn]

Mortgage rates for 'Help To Buy' at 95% ltv are a couple of points above those at about 85% LTV with no loan. Works out at around £150 a month more on a £200k house. And then you've a £20k loan to pay off on top? Looks like a time bomb when rates go back up and there's two sets of loan to pay off.

 

Rather than raise prices, might this just bolster them short term so sellers get what they're asking?

[Pureblood]

Mortgage rates for 'Help To Buy' at 95% ltv are a couple of points above those at about 85% LTV with no loan. Works out at around £150 a month more on a £200k house. And then you've a £20k loan to pay off on top? Looks like a time bomb when rates go back up and there's two sets of loan to pay off.

 

Rather than raise prices, might this just bolster them short term so sellers get what they're asking?

 

In my view yes, it will artificially inflate prices in the short term and people will pay for it further down the line when interest rates finally go up (and they will have to eventually). It's reckless, irresponsible and is being done for the wrong reasons.  After all the talk about regulating the financial sector and not creating another housing bubble...

[cochyn]

In my view yes, it will artificially inflate prices in the short term and people will pay for it further down the line when interest rates finally go up (and they will have to eventually). It's reckless, irresponsible and is being done for the wrong reasons. After all the talk about regulating the financial sector and not creating another housing bubble...

Absolutely. The government should be relaxing VAT on brownfield developments to allow all the stalled urban housing schemes to get off the ground. Gets the country working and eases the pressure on green belt land.

 

Here in Leeds there's huge demand for medium-high rise urban housing. There's a glut of available brownfield clearance sites but no-one can secure enough funding to develop. Knock the Vat off and its a go: you get a vibrant economy going with guaranteed future tax revenues through all that lovely council tax. Help to buy is just short-termist, mealy-mouthed sham policy making. The type that won't see us growing our way out of recession any time soon.

[Pureblood]

It's sickening.  They sell themselves on being "the party of home ownership", yeah right, the banks and the government own the homes, people in them don't own them.  Or private landlords own them, stocks dwindle for the rest and rent goes up, up, up.  I hate this country.  Hate it.  Why is everyone obsessed about owning a home anyway, why is it so important?  I don't get it.  

[lifetime fan]

I've been looking at this place...

 

http://www.rightmove.co.uk/property-for-sale/property-40515907.html

 

It needs a lot of work doing to it but if you could get it for £100k it's a hell of a lot of house for the money even if it is in a shit hole area.

[General Dryness]

We're lucky we bought when we did (January this year). Banks are looking for a 20% deposit now, under law changes only 10% of the mortgages a bank gives can be anything less (not sure how they decide who the 10% are, suppose its on a approval basis). We had 10%.

 

Anybody that had pre-approval with any less than a 20% deposit has had the pre-approval cancelled. I'd have been pissed if we'd seen the house you wanted, had our 10% then had the rug pulled from under us as we were about to make an offer. Really feel for anyone thats happened to.

 

Its a beautiful country, but its getting harder to live here.