Lord Geordie Posted January 10, 2017 Report Share Posted January 10, 2017 It's taken lots of searching and changing to a longer contract last year! But FINALLY I have been accepted for a mortgage Still a few hurdles yet! I wasn't aware of all the extra costs, Independent valuation, search fees, land registration fees, chaps fee etc etc etc Plus the solicitors want £1000 for the joy of paperwork and handling the money :o that's the biggest sting as it can't be done via instalments. I am guessing in total close to £2k upfront :( Still, when I look at the benefit of this opportunity it's crazy not to do it! To buy is £100 cheaper than renting locally. Paid by the time I am 61 (sooner if I get my way ) I hope to have it done in 10 and leave a meaningful legacy for Chris. I did the affordability stuff today, and they are happy enough. So now selling a few bits to build a little capital to try and make a start. I am going to see if a chap I work with wants my car for £200. Then I listed my Titan for sale today too. I have a few hundred to one side. If I need to I will have to see bank of Dad. But am hoping to do it all off my OWN back if I can. It's very scary I have to admit, finding the funding £2k will not be quick, but in the long term it's going to be amazing to OWN a home. I never thought i would ever get the opertunity to buy a house, but after years of hard work I am finally in a position to step on the property ladder! Granted it's just a cheap terraced two bed house! But soon (god willing) it will be OURS! A nice bit of good news to start 2017! Can I thank the chaps who tried to help me a few month ago trying to find a mortgage! And to pretty much all the well wishers on here. Who have spurred me on, and passed on their best wishes for Chris and I. We both appreciate everything you have done for us! An extremely scared, but happy Father and Son. Should say Chris and Myself in the topic title! Then again Ache is a good analogy too Quote Link to comment Share on other sites More sharing options...
subsonicnat Posted January 10, 2017 Report Share Posted January 10, 2017 Good on yer mate,not many years down the road,,about 5,,,The rents on propertys with have overtook what you pay in morgage,,from then all down hill,it will get cheaper.. Watch what type of morgage you take on though.. B O L. Well Done.. Quote Link to comment Share on other sites More sharing options...
mel b3 Posted January 10, 2017 Report Share Posted January 10, 2017 absolutely top news mart Quote Link to comment Share on other sites More sharing options...
WelshAndy Posted January 10, 2017 Report Share Posted January 10, 2017 Fantastic news mate!! Quote Link to comment Share on other sites More sharing options...
Lord Geordie Posted January 10, 2017 Author Report Share Posted January 10, 2017 Good on yer mate,not many years down the road,,about 5,,,The rents on propertys with have overtook what you pay in morgage,,from then all down hill,it will get cheaper.. Watch what type of morgage you take on though.. B O L. Well Done.. the mortgage is one where it pays the house off in 15 years. Not an interest only one! And I have the opportunity to pay 10% each year or less if I can of the outstanding balance "without incurring fees" so the chance to pay it off sooner than 15 years Quote Link to comment Share on other sites More sharing options...
hedd-wyn Posted January 10, 2017 Report Share Posted January 10, 2017 Congratulations, it's a good feeling 🙌🏻 Quote Link to comment Share on other sites More sharing options...
TaxiDriver Posted January 10, 2017 Report Share Posted January 10, 2017 Hey, Well done, congratulations. It's nice to hear someone's good news once in a while It's really really funny, I was only talking about you to my mum this morning too. Quote Link to comment Share on other sites More sharing options...
kyska Posted January 10, 2017 Report Share Posted January 10, 2017 Fantastic news! Someone as stubborn as you was going to get what you wanted eventually! Really pleased for you Quote Link to comment Share on other sites More sharing options...
keg Posted January 10, 2017 Report Share Posted January 10, 2017 What a great start to the year LG, great news for you both, v v pleased for you both. Quote Link to comment Share on other sites More sharing options...
CaptainBeaky Posted January 10, 2017 Report Share Posted January 10, 2017 Excellent news, m'Lud Quote Link to comment Share on other sites More sharing options...
TIGHTCHOKE Posted January 10, 2017 Report Share Posted January 10, 2017 Marvellous news Mate, well done! Quote Link to comment Share on other sites More sharing options...
AVB Posted January 10, 2017 Report Share Posted January 10, 2017 Shop around for solicitors or licenced conveyancers. You will get it for a lot less than £1k. Good luck and well done so far. Quote Link to comment Share on other sites More sharing options...
novice cushie shooter Posted January 10, 2017 Report Share Posted January 10, 2017 Great news LG! Chuffed to bits for you both. Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted January 10, 2017 Report Share Posted January 10, 2017 Awesome. Good luck and hope all goes swimmingly. Quote Link to comment Share on other sites More sharing options...
Duckandswing Posted January 10, 2017 Report Share Posted January 10, 2017 Top news 👍🏻 Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted January 10, 2017 Report Share Posted January 10, 2017 Good on yer mate,not many years down the road,,about 5,,,The rents on propertys with have overtook what you pay in morgage,,from then all down hill,it will get cheaper.. Watch what type of morgage you take on though.. B O L. Well Done.. There's a fair few places where rent had exceeded mortgage payments. In my hometown in Wales (which isn't particularly massive) but especially in Bristol it is high. However, there are lots of other costs of property ownership which you don't have as a tenant, if your a council tenant then possibly even better for you. There's plenty of people who are better off renting. As for you Geordie only you can decide which one is best for you! Good luck with the plan and hopefully soon you'll get what your working towards Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted January 10, 2017 Report Share Posted January 10, 2017 Good advice from AVB -shop around for a solicitor. You might also consider looking into which type of survey is best for you. Quote Link to comment Share on other sites More sharing options...
Danger-Mouse Posted January 10, 2017 Report Share Posted January 10, 2017 Nice one LG, congratulations. Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted January 10, 2017 Report Share Posted January 10, 2017 Good on you L.G, I am sure you will meet your target. You appear to be a very caring and diligent fella who is prepared to work at whatever it takes to attain your goals and safeguard your family both emotionally and financially. Atb to yourself and Chris. 7diaw Quote Link to comment Share on other sites More sharing options...
davewh100 Posted January 10, 2017 Report Share Posted January 10, 2017 great news mate looking like this is your year atb dave Quote Link to comment Share on other sites More sharing options...
rich1984 Posted January 10, 2017 Report Share Posted January 10, 2017 Great news for you and chris LG ! Glad to hear you got it sorted. Quote Link to comment Share on other sites More sharing options...
lord_seagrave Posted January 10, 2017 Report Share Posted January 10, 2017 Sorry to be Captain Sensible here (well done LG by the way) but please get a recommendation for a thorough, competent solicitor to do the work. These days they need not be local to you. LS Quote Link to comment Share on other sites More sharing options...
Lord Geordie Posted January 10, 2017 Author Report Share Posted January 10, 2017 Hi LS. No apology needed! When advice is given, a sensible person would listen to it before dismissing it. The solicitor in question (Gibson and co) have dealt with a lot of home purchases, inc my ex girlfriends. They also dealt with my parents house purchase. The bank have set up a valuation fees and other things that they require. In all around £1100 of fees, then the solicitors fees too. I assume the solicitors fees cover the search and register fees? Hence the thousand pounds. It's a short term hurdle, once I am over it, I will wonder what all the fuss was about. I have dealt with things a far sight worse, and came through. I am sure this will all sort it's self in the end. Quote Link to comment Share on other sites More sharing options...
100milesaway Posted January 10, 2017 Report Share Posted January 10, 2017 Well done that man. from Auntie. Quote Link to comment Share on other sites More sharing options...
hawkeye Posted January 11, 2017 Report Share Posted January 11, 2017 Congratulations Martin hope it all goes to plan Quote Link to comment Share on other sites More sharing options...
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