First Time Buyers Page 12

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  • Dougs 3 Apr 2013 18:13:40 66,577 posts
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    Anyone else have redundancy/sickness cover on their mortgage? Despite being pretty safe, for 23 a month, I'd rather know that if the worst happened, I'd be sorted for a year before having to worry too much.

    Hoping my proposed extension will add some equity, although fuck knows whether a bank will lend me the cash.
  • mrpon 3 Apr 2013 18:30:12 28,402 posts
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    Missold PPI Dougs? ;)

    Give yourself 5 or gig, you're worth it.

  • Gaol 3 Apr 2013 18:47:56 2,263 posts
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    Dougs wrote:
    Anyone else have redundancy/sickness cover on their mortgage? Despite being pretty safe, for 23 a month, I'd rather know that if the worst happened, I'd be sorted for a year before having to worry too much.

    Hoping my proposed extension will add some equity, although fuck knows whether a bank will lend me the cash.
    I don't know your entire circumstances, but these policies are rarely worthwhile.

    Usually there's a cooling off period before you can claim, so if you get a new job straight away they don't pay out. They also only cover a years worth of payments, so work out the value of the potential pay out and compare it to your savings. Lastly, you should have some form of cover for sickness/redundancy in your employment contract.

    The exception is if you're self-employed or work short term contracts but there are better insurances available in my opinion, like an income protection policy or critical illness cover on your mortgage.

    When I first got a mortgage with the wife 10 years ago she was insisting on one of these policies till I said, look we'll put 3 grand in the bank, there's our contingency and someone will pay us for having it.

    EDIT: Should add too, if you are paying NI then you can claim mortgage interest from the State for 2 years if you become unemployed.

    Edited by Gaol at 18:58:20 03-04-2013
  • Dougs 3 Apr 2013 19:41:24 66,577 posts
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    mrpon wrote:
    Missold PPI Dougs? ;)
    No, deliberatelyI and after a great deal of thought! It's the only thing like this I've ever taken.

    Mine is redundancy only, and as a public sector worker, whilst my job is safer than most, I took it out at a time when things were very dodgy and it's only got worse, and have survived 3 rounds in that time. I know these policies are rarely worth it, and you could say stick X amount aside and you'll be covered, but the truth is, I'm never that organised and there will always be something that it could and would be used for.

    Just wondered how many other suckers there were. :)

    Edit: no savings at all either!

    Edited by Dougs at 19:42:52 03-04-2013
  • Destria 3 Apr 2013 19:44:56 2,819 posts
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    And the best part is, once you decide you don't need it you can claim for the mis-selling of the PPI. That'll get you all the cash back AND 8% interest :)
  • mcmonkeyplc 5 Apr 2013 10:40:20 39,384 posts
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    FWB wrote:
    Property, in London, is in my eyes the best investment. It's relatively safe (touch wood). The population is growing and there is not enough space. People will always need somewhere to live and if they don't then it's because we've all been nuked and none of your savings will matter.

    If you buy something here, don't let it go.
    This is what I need to hear! Thanks :)

    Edited by mcmonkeyplc at 10:40:51 05-04-2013

    Come and get it cumslingers!

  • THFourteen 5 Apr 2013 10:48:07 32,853 posts
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    I get free protection via my work policies. Think if i die, mrs TH14 gets 4x my base salary. Also if i'm disabled and unable to work, i get some percentage of my salary up until i'm 65 i believe, so actually its a very good policy.

    Assuming it pays out of course, and isn't full of loopholes.
  • mad_caddy 15 Apr 2013 12:50:05 3,306 posts
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    I, today, officially, feel like a zombie.

    Yesterday at 8.29AM we had no kitchen. and we're moving in, or int he process of. last night at 8.00 PM my wife arrived with our children to see their finished bedroom and living room, bathroom and above all else a fully working kitchen.

    We've had major stress, kitchen was a nightmare to fit and 3 very awesome people sorted it, they're coming back today to do some bits and pieces, if you're in the worcester area give me a shout i know an amazing plasterer who also fits kitchens and does loads of stuff.

    So first night last night in new house, got loads to do still but slowly slowly. first task. get on to whoo ever we ordered the kitchen white good through and give them a bollocking for faffing about and not making the delivery on time.

    but other than that. first house, loads done, loads to do, but wife and kids super happy so far.

    Might be a good idea to perhaps get some curtains up soon though :p
  • mcmonkeyplc 15 Apr 2013 13:01:24 39,384 posts
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    Congrats Mad_Caddy. Delivery's seem to be a fucking nightmare for anything these days.

    Nothing I've ordered has arrived on time.

    Come and get it cumslingers!

  • Vortex808 15 Apr 2013 13:35:25 6,933 posts
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    mcmonkeyplc wrote:

    Nothing I've ordered has arrived on time.
    That's not too bad- some, but bizarrely, not all, of our kitchen units kept getting delivered to a completely different address in a different town. Even though they were all from the same order.

    Despite repeated phonecalls to get the mistake sorted/ensure they knew the correct address.

    This was especially annoying for getting replacements for a couple of damaged units.

    /o\

    I can still feel the bile rising even after 8 years or so!
  • THFourteen 5 May 2013 12:26:20 32,853 posts
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    Twickenham is Wierd.

    Went to the garden centre today to get some bbq gas. Some old lady chatted to me for about ten minutes at the till. She was 83 and her name was pat. She'd just bought some lorinthiums or some such.

    Then when I was waiting for the train, some dude started randomly asking me about my kindle and discussing the pros and cons of the kindle fire vs ipad.

    I don't understand what's happening...
  • Dante_Cubit 5 May 2013 14:24:43 1,874 posts
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    @THFourteen

    I have the exact same deal. Who do you work for?
  • mcmonkeyplc 5 May 2013 15:03:32 39,384 posts
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    THFourteen wrote:
    Twickenham is Wierd.

    Went to the garden centre today to get some bbq gas. Some old lady chatted to me for about ten minutes at the till. She was 83 and her name was pat. She'd just bought some lorinthiums or some such.

    Then when I was waiting for the train, some dude started randomly asking me about my kindle and discussing the pros and cons of the kindle fire vs ipad.

    I don't understand what's happening...
    Welcome to suburbia.

    Come and get it cumslingers!

  • PazJohnMitch 5 May 2013 15:11:12 7,779 posts
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    Dante_Cubit wrote:
    @THFourteen

    I have the exact same deal. Who do you work for?
    So do I. I think it might be fairly common.
  • Dante_Cubit 5 May 2013 16:12:48 1,874 posts
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    I guessed it might be a standard benefits package that some companies buy in (along with health insurance and the like) but if he has the same employer I was wondering if he thought things were going to shit of late..
  • Scurrminator 18 May 2013 17:27:46 8,375 posts
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    Offer put in on our first house. Offered full ask as its underpriced to sell. Lot of interest though we were in first.
    Hope our non chain, mortgage approved-ness wins out!

    You dare to strike Scurrcules!?

  • FWB 18 May 2013 17:32:49 43,792 posts
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    Good luck.
  • elephantjuice 18 May 2013 17:43:06 623 posts
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    PazJohnMitch wrote:
    Dante_Cubit wrote:
    @THFourteen

    I have the exact same deal. Who do you work for?
    So do I. I think it might be fairly common.
    This is just standard employers liability insurance I believe.
  • Scurrminator 20 May 2013 15:52:38 8,375 posts
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    Bah. So two other couples put in the asking price and are also in the same situation (no chain, mortgage approved) so it's come down to sealed bids by tomorrow lunch :-(
    Have ummed and ahhed about how high to go as the property is oldly underpriced (unless the valuation throws something up!).
    Anyway - our offer is in - fingers crossed those other fuckers don't get it.
    On the off chance that we do can anyone recommend a good conveyancer? We have one but it's just one we've always used and would happily switch to another recommended solicitor if they are competitively priced.

    You dare to strike Scurrcules!?

  • elstoof 20 May 2013 16:01:28 6,586 posts
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    Sealed bids.. Are you in Scotland? My idea of a nightmare, that. The bids I mean, not Scotland.

    I'd stick with your trusted conveyancer if I were you, there's too many shysters out there. We almost lost our house when the first solicitor pulled out after 3 weeks because they didn't want to deal with HSBC, and then almost lost out again with the second, HSBC approved solicitor thanks to their utter incompetence from start to finish. Chain free buying really can take upwards of 4 months to complete folks!
  • mcmonkeyplc 20 May 2013 16:03:25 39,384 posts
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    :S Good luck!

    Come and get it cumslingers!

  • Scurrminator 21 May 2013 09:43:36 8,375 posts
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    Bah. I'm feeling quite sceptical that we even stand a chance. We put in an offer of 7k more than asking but I reckon people have at least gone 10k over.
    Gutted. Stupid house market round here :-(

    You dare to strike Scurrcules!?

  • mrpon 21 May 2013 09:57:24 28,402 posts
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    Scotland is an odd one. They have various types of pricing structures, some fixed, some offers over, others offers in the region. For the offers over you need to do some research to see what the average percentage uplift is for that area, and then decide how high (or low) to go. Also factor in your position (no chain, finance setup etc..) when placing these bids as that could sway the decision.

    Don't be disheartened if you lose out, you could waiting in the wings if the successful bidder lucks out.

    I was lucky when I bought mine and caught the seller early with a tasty bid with the proviso I didn't want to go to sealed bids.

    Give yourself 5 or gig, you're worth it.

  • Scurrminator 21 May 2013 13:53:39 8,375 posts
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    Well we're not in Scotland...
    BUT WE GOT THE HOUSE WHOOP!
    Snuck in another offer and bagged it :-)

    You dare to strike Scurrcules!?

  • elstoof 21 May 2013 14:18:56 6,586 posts
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    Congratulations, good luck with all the legal shit now!
  • Scurrminator 18 Jun 2013 15:17:00 8,375 posts
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    Fucks sake.
    All going well and now the underwriters have decided to cut the offer to 8k under what we need. EIGHT FUCKING K!? That's nothing in comparison - just let us have it! Sigh - crock of shit!
    That's 200 down the pan whilst we look for someone else.

    You dare to strike Scurrcules!?

  • elstoof 18 Jun 2013 17:59:11 6,586 posts
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    That's just bullshit, I can't understand why these people do that unless its all a scam to ponce some admin charges off people. Hopefully you'll find a better outfit soon buddy.
  • Shikasama 23 Jul 2013 14:20:09 6,599 posts
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    Just had an offer accepted on a house. Decided to sack off all of the negotiating bollocks, decided what we wanted to pay and told them we weren't interested in going over so got it.

    Now just need to get the mortgage sorted and other assorted crap done.
  • mrpon 23 Jul 2013 15:13:50 28,402 posts
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    Surprised they accepted without the mortgage sorted.

    Give yourself 5 or gig, you're worth it.

  • elephantjuice 23 Jul 2013 15:18:17 623 posts
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    One more payment left on my 6.5% 5 year fixed, interest only mortgage. Talk about a bad decision.
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