First Time Buyers Page 3

  • Page

    of 13 First / Last

  • mcmonkeyplc 20 Aug 2012 23:30:31 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    That's only on certain properties though?
  • disusedgenius 20 Aug 2012 23:34:04 6,210 posts
    Seen 7 minutes ago
    Registered 8 years ago
    FWB wrote:
    You know there is a government scheme where they will fund half your deposit, right?
    A lot of those I've seen seem to be on new build apartments and favour things like local workers etc. Worth looking at I guess if you're in a position to go for one of those kinds of places, but I'm pretty sure they aren't offered on any old property.
  • FWB 20 Aug 2012 23:51:35 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    Guess one has to find a job that isn't worthless and just leeching off society. ;)

    But, yeah, you need to qualify for it, which also means having an income that isn't too low or too high. Shared ownership is also an option. Check out the Firststeps website*. Living and/or working in the borough will entitle you to it. You can find some decent stuff and may even pick up something outside your borough. They are required, by law, to provide a certain percentage of it, so will offer it to those in neighbouring boroughs if they can't find people within their own.

    Costs you nothing. Just register (and with your local council) and throw your name into the hat.



    *The deposit funding is another scheme, I forget the name of it.

    Edited by FWB at 23:54:03 20-08-2012
  • disusedgenius 20 Aug 2012 23:59:07 6,210 posts
    Seen 7 minutes ago
    Registered 8 years ago
    FWB wrote:
    Guess one has to find a job that isn't worthless and just leeching off society. ;)
    Hey fuck you buddy I spend all day... making... adverts... to sell... worthless... shi...


    Well played sir, well played. :(
  • FWB 21 Aug 2012 00:00:25 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    Console yourself with the fact you probably make 3-4 times more than me. :)

    Monkey, what's your job and where do you currently live and work?

    Edited by FWB at 00:03:09 21-08-2012
  • mcmonkeyplc 4 Oct 2012 16:49:00 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    /blog

    Just made an offer

    /crywank
  • elstoof 4 Oct 2012 16:51:33 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    Under the asking price?
  • mcmonkeyplc 4 Oct 2012 16:56:19 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    Yes
  • elstoof 4 Oct 2012 17:04:34 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    Good man, best of luck.
  • mcmonkeyplc 4 Oct 2012 17:12:46 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    Thanks, she said she's going to think about it. :S
  • henro_ben 4 Oct 2012 17:20:49 2,279 posts
    Seen 6 hours ago
    Registered 9 years ago
    Good luck, just had an offer accepted the other week - it's all surprisingly stressful!
  • Leolian 4 Oct 2012 17:30:36 1,129 posts
    Seen 5 hours ago
    Registered 11 years ago
    Congrats guys. Just starting to look at all this mess myself. Beyond time.
  • FWB 4 Oct 2012 17:42:41 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    The stress is very unpleasant. Wasn't expecting the amount of stuff I had to think about.
  • mcmonkeyplc 4 Oct 2012 17:52:21 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    Yeah I'm not enjoying it now.
  • elstoof 4 Oct 2012 17:54:29 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    The most important thing to do is give your solicitor absolute hell. Phone them at least every day and keep them thinking about your case. I was stuck with an HSBC approved solicitor and they were beyond incompetent. Chain free and freehold - yet they still took 4 months to get their arse in gear, even when the vendor threatened to pull out and remarket. I'd call 10 times before someone even answered.

    Keep on top of the fuckers.
  • elstoof 4 Oct 2012 17:54:55 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    Post deleted
  • FWB 4 Oct 2012 18:09:08 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    Definitely. The lawyers on both sides are useless and don't give a shit. I gave up part of the way and completed. Took them six weeks to answer about eight questions and it wasn't till site sales harrassed them that anything got done. Now I've completed i am still holding off on the lease signing cos despite the cunts modifying it after I brought issues up they sent me the unmodified lease. So fucking shit. It is a new build mind.

    Edited by FWB at 18:16:07 04-10-2012
  • Carlo 4 Oct 2012 18:24:11 18,433 posts
    Seen 38 seconds ago
    Registered 10 years ago
    Can I just mention as someone who got a mortgage long ago (14 years!), getting past the 1/2 way mark gave me a great sense of accomplishment (no ring-binders for that one!)... And as I approach the 10 years to go / less than 65k to pay I'm really REALLY looking forward to paying it off and finally owning my own home.

    So, if you find yourself toying with getting a 20, 25 or 30 year do yourself a favour... Get the one that ends as soon as you can afford it! No only will it cost you less in the long run, but after paying all that money to a bank that is unlikely to have ever had that money in the first place, you'll hate giving your hard-earned wages to a company that gets money for (almost) nothing.

    And I'm hoping that last 5 years will be (at the rate inflation is going) just paid off in cash with a bonus or savings or something...

    Good luck you guys! Offer low! The prices are idiotic and its a buyers market.
  • elstoof 4 Oct 2012 19:34:28 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    Easy to say with your 14 year old micro mortgage, when houses could be bought with a bag of shiny pebbles ;-)
  • Dougs 4 Oct 2012 20:34:37 72,203 posts
    Seen 15 minutes ago
    Registered 12 years ago
    And most likely oooop North where they five you some pebbles back.
  • FWB 4 Oct 2012 20:39:21 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    No chance I could afford a full mortgage in London.
  • chopsen 4 Oct 2012 20:59:38 17,073 posts
    Seen 2 minutes ago
    Registered 10 years ago
    I heard the other day someone or other (Ed Balls, I think) was talking about some tax/funding dodge to make it easier for 1st time buyers to get on the housing ladder.

    The problem is that those kind of moves really just perpetuate the problem. It is just acknowledging the fact that the market is over-valued, and can only be sustained by artificially distorting it.

    Edited by Chopsen at 21:00:25 04-10-2012
  • elstoof 4 Oct 2012 21:19:03 9,564 posts
    Seen 31 minutes ago
    Registered 10 years ago
    The stamp duty freeze? We had that until recently anyway, 1st time buyers getting an exemption for purchases up to 250k instead of the normal 125k.
  • FWB 4 Oct 2012 22:52:14 48,395 posts
    Seen 28 minutes ago
    Registered 13 years ago
    If you are shared ownership you buy 80% first then buy the final 20% and only pay on that.
  • mcmonkeyplc 5 Oct 2012 14:07:34 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    So she's got back to me via the estate agent saying she really needs X amount which is 3.4% lower than the asking price. I offered 5% below.

    I told her that I'll give her 2k more if I can have some of her furniture.

    She's thinking about it...

    This stuff is fucked up.
  • nickthegun 5 Oct 2012 14:08:33 63,931 posts
    Seen 31 minutes ago
    Registered 9 years ago
    Did you specify what or are you just going to turn up and find a spice rack and a coffee table left in the lounge?
  • mcmonkeyplc 5 Oct 2012 14:23:31 39,855 posts
    Seen 8 hours ago
    Registered 13 years ago
    Yes I specified what. Bed, Sofa, washing machine
  • Carlo 5 Oct 2012 14:32:56 18,433 posts
    Seen 38 seconds ago
    Registered 10 years ago
    elstoof wrote:
    Easy to say with your 14 year old micro mortgage, when houses could be bought with a bag of shiny pebbles ;-)
    What do you think your mortgage will be viewed like in 14 years time the way inflation is going at the moment?
  • Dougs 5 Oct 2012 14:35:32 72,203 posts
    Seen 15 minutes ago
    Registered 12 years ago
    Inflation is decreasing.
  • Carbon_Altered 5 Oct 2012 14:38:06 737 posts
    Seen 4 days ago
    Registered 8 years ago
    Chopsen wrote:
    I heard the other day someone or other (Ed Balls, I think) was talking about some tax/funding dodge to make it easier for 1st time buyers to get on the housing ladder.

    The problem is that those kind of moves really just perpetuate the problem. It is just acknowledging the fact that the market is over-valued, and can only be sustained by artificially distorting it.
    Not really - it's ackowledging the issue that the housing stock is insufficient which is sustaining high prices (south east especially) and making it hard for people to get on at ground level.

    Balls is dicking around on the demand side, when actually supply side measures would probably work better.
  • Page

    of 13 First / Last

Log in or register to reply