strongski Posted August 17, 2010 Report Share Posted August 17, 2010 (edited) what a mine field B) so what do i need to look for and what do i need to ask . and how to avoid them cocky little estate agents please help thanks for your time all the best strongski Edited August 17, 2010 by strongski Quote Link to comment Share on other sites More sharing options...
artschool Posted August 17, 2010 Report Share Posted August 17, 2010 where to start? go on the mouse price website to give yourself an idea of the going rate for the area you are looking at. dont give any information to the agent, except your financial position. dont be afraid to put an offer in, its not binding until exchange of contract and you will find out who wants to sell and who is just testing. get a survey or at least bring a mate who knows to have a look. do not underestimate the amount of work that needs done to a property, and take it into account. i could go on all day about this, but i think the most important thing is to go and view loads of properties to give you an idea of whats out there. Quote Link to comment Share on other sites More sharing options...
100milesaway Posted August 17, 2010 Report Share Posted August 17, 2010 If you need a mortgage get the least years they will allow you.Get it paid off as soon as you can.Even go for a private mortgage if you can with the seller. I did this many years ago and got a 5 year mortgage, bust my butt topay it off and settled up with the guy in full after 4 years. It did involve eating potato and carrots and beans and stuff for 4 years but by what a saving. B) Get the cheapest rundown place you can find and do it up, this will probably involve having an understanding lady that will work with you and not want to sponge off you. Do this afew times untill you eventually don't need a mortgage., this will involve moving afew times but eventually is self financing.Honest it works.from Auntie Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted August 17, 2010 Report Share Posted August 17, 2010 Beg ,steal or borrow as big a deposit as you can-every grand you put down will save you at least 3-4 in the long run.Go for a repayment mortage cos endowments just aint gonna pay out and in the next 10-15 years a lot of people are going to be up poo street.Dont be afraid to go online cos mortgage companies sometimes have a once in a lifetime offer either regarding interest or fixed term-dont overstretch what you can afford if you cant get fixed rate for at least 5 years cos interest has got to rise eventually.Pay as much off as you can monthly. Quote Link to comment Share on other sites More sharing options...
DSPUK Posted August 18, 2010 Report Share Posted August 18, 2010 As said make sure in your terms you can pay off lump sums as well and Aunties advice is sound - DO not stay in one place for years keep upgrading if possible always research area for good schools and transport but buy just off main roads. it also helps if you can DIY if not make sure you are earning more than £2k a week - £1k for you and £1k for any tradesman for weeks work. Dave Quote Link to comment Share on other sites More sharing options...
WGD Posted August 18, 2010 Report Share Posted August 18, 2010 First time buyer in the current mortgage market, first see if you can get a mortgage! Be clear about the level of deposit you require depending on the type of house you are buying (for example, a lender will most likely require a larger % deposit on a new build flat than a stone built semi). Count ALL the costs: SDLT, does it apply in your area and at the price level you are thinking of buying, legal fees, carpets, curtains, furniture, maintenance etc etc. Once you've established all of that buying the house is easy. Quote Link to comment Share on other sites More sharing options...
AlistairB Posted August 18, 2010 Report Share Posted August 18, 2010 ....and once you've done all of the above, remember it will never run to time or be as smooth as you would like it to be - patience is a virtue! AB Quote Link to comment Share on other sites More sharing options...
Marcus Posted August 18, 2010 Report Share Posted August 18, 2010 Get a good financial adviser. Do the sums Get a decision in principle from a lender that the adviser deems suitable Ask someone who has experience of buying to go along with you as the experience will help you to play the game and get the best result for yourself Don't be fooled by the **** the estate agents tell you Above all try and enjoy the experience ~ although house buying will likely be the most stressful thing you will ever be involved in. Quote Link to comment Share on other sites More sharing options...
lord_seagrave Posted August 18, 2010 Report Share Posted August 18, 2010 Get a friend to recommend a solicitor. A good pro-active solicitor is worth his weight. I went with a friend's recommendation and I never even spoke to mine, it was all done by email and letter and they were absolutely bang on. Prompt and attentive and showed just how slapdash the vendor and the estate agents were. Very happy. They weren't cheap (about £1,500 to convey a 2-bed London flat in 2007, from memory), but I'm glad I took my friend (he's also a solicitor, but in one of the big City firms) at his word. PM me if you want the details. D. Quote Link to comment Share on other sites More sharing options...
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