First Time Buyers Page 3

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  • mcmonkeyplc 20 Aug 2012 23:30:31 38,857 posts
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    That's only on certain properties though?

    Come and get it cumslingers!

  • disusedgenius 20 Aug 2012 23:34:04 5,140 posts
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    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 41,911 posts
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    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 5,140 posts
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    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 41,911 posts
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    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 38,857 posts
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    /blog

    Just made an offer

    /crywank

    Come and get it cumslingers!

  • elstoof 4 Oct 2012 16:51:33 6,138 posts
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    Under the asking price?
  • mcmonkeyplc 4 Oct 2012 16:56:19 38,857 posts
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    Yes

    Come and get it cumslingers!

  • elstoof 4 Oct 2012 17:04:34 6,138 posts
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    Good man, best of luck.
  • mcmonkeyplc 4 Oct 2012 17:12:46 38,857 posts
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    Thanks, she said she's going to think about it. :S

    Come and get it cumslingers!

  • henro_ben 4 Oct 2012 17:20:49 2,192 posts
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    Good luck, just had an offer accepted the other week - it's all surprisingly stressful!
  • Leolian 4 Oct 2012 17:30:36 1,050 posts
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    Congrats guys. Just starting to look at all this mess myself. Beyond time.
  • FWB 4 Oct 2012 17:42:41 41,911 posts
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    The stress is very unpleasant. Wasn't expecting the amount of stuff I had to think about.
  • mcmonkeyplc 4 Oct 2012 17:52:21 38,857 posts
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    Yeah I'm not enjoying it now.

    Come and get it cumslingers!

  • elstoof 4 Oct 2012 17:54:29 6,138 posts
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    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 6,138 posts
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    Post deleted
  • FWB 4 Oct 2012 18:09:08 41,911 posts
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    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 17,911 posts
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    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.

    PSN ID: Djini

  • elstoof 4 Oct 2012 19:34:28 6,138 posts
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    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 64,887 posts
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    And most likely oooop North where they five you some pebbles back.
  • FWB 4 Oct 2012 20:39:21 41,911 posts
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    No chance I could afford a full mortgage in London.
  • Chopsen 4 Oct 2012 20:59:38 15,129 posts
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    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 6,138 posts
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    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 41,911 posts
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    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 38,857 posts
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    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.

    Come and get it cumslingers!

  • nickthegun 5 Oct 2012 14:08:33 55,848 posts
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    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?

    ---------------------------------------------------------
    He totally called it

  • mcmonkeyplc 5 Oct 2012 14:23:31 38,857 posts
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    Yes I specified what. Bed, Sofa, washing machine

    Come and get it cumslingers!

  • Carlo 5 Oct 2012 14:32:56 17,911 posts
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    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?

    PSN ID: Djini

  • Dougs 5 Oct 2012 14:35:32 64,887 posts
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    Inflation is decreasing.
  • Carbon_Altered 5 Oct 2012 14:38:06 675 posts
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    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.
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