Buying a house (and renting)

PostRe: Buying a house (and renting) by **Herdanos** » Mon Dec 04, 2023 8:50 pm

Getting good movers makes a huge difference. Last time we moved we had two lads who were absolute legends and incredibly helpful every step of the way.

Think I have told this story before, but anyway...

When we moved (5.5 years ago now :shock:

) we checked in with our removals company several times throughout the day, only to be told at about 4.30pm (on a Friday) that they weren't going to be able to fulfil the job. By this point, the new owner is already literally inside the flat with us, patiently waiting for us to strawberry float off.

Cue a desperate ring-around of all local companies. Any who did pick up the phone were still laughing as they hung up – until we found one that agreed to come round asap, as long as we could pay by cash. Obviously, we had no choice, so gratefully agreed.

About an hour later, a bloke turns up with a big van and a small team of people who can't speak English. No company branding or contracts in sight. The next several hours (ending in them installing everything in our new house at around 1am) consisted of me witnessing some of the hardest-working people I've seen. At the end, I ran to a local cash point to withdraw an extra ~£250 to share between them. We all smiled as we shook hands and waved goodbye.

A beautiful story about why we should be grateful for our illegal workforce :slol:

.

STOP THE VANS!

PostRe: Buying a house (and renting) by **Ecno** » Tue Dec 05, 2023 9:57 am

Girlfriend's landlord has put up her rent from £1,300pcm to £1,700 pcm but has graciously agreed to reduce it to only £1,600 pcm, which my girlfriend can't really afford. We've been looking at moving in together (I agreed to pay more rent at my last renewal so I could have a 2 month notice), but basically everything is available immediately when we've both got 2 month notices. There's 2.5 bed 5 doors down from where my gf currently lives, wanting £2,650 pcm But there's covers on the sofas, we've asked if we could remove the covers on the sofas or even buy our own Sofas instead- and was basically told no. They're 5 old + Ikea Sofas! Can pay over £30k a year on housing and can't even have nice sofas....

We should be ok, because we've both got good jobs, have a support network etc, but it's an absolute pain and horrifying for us, and I can't imagine how hard it is for people who don't have our resources- This country desperately needs to build more houses.

Edit: And local politicians are complaining about schools closing- how is someone supposed to have children and pay those kind of rents?

Ecno wrote:£2,650 pcm

Absolutely eye-watering.

Drumstick wrote:
Ecno wrote:£2,650 pcm

Absolutely eye-watering.

That's not far of my net salary in a month. I feel sick that you have to pay that.

PostRe: Buying a house (and renting) by **Qikz** » Tue Dec 05, 2023 11:59 am

poshrule_uk wrote:
Drumstick wrote:
Ecno wrote:£2,650 pcm

Absolutely eye-watering.

That's not far of my net salary in a month. I feel sick that you have to pay that.

Yeah this is £300 more than I make in a month. I live in the southeast and pay a mortgage for 40% of the property I live in (285k when I bought it 1 bed flat) which comes to about £370 a month and I have to pay rent on the other 60% which includes my service charge and that comes to close to £560 and that feels like a lot and that's still only £930

Still, it's better than the £800 rent I had to pay for a really shitty 100+ year old studio flat which was always freezing cold.

PostRe: Buying a house (and renting) by **Moggy** » Tue Dec 05, 2023 12:01 pm

It's disgusting that rent is that high.

strawberry float the landlords.

PostRe: Buying a house (and renting) by **Lex-Man** » Tue Dec 05, 2023 12:37 pm

I'll rent you my house for £1000 although I'm not shagging Moggy.

PostRe: Buying a house (and renting) by **Ecno** » Tue Dec 05, 2023 12:40 pm

Moggy wrote:It's disgusting that rent is that high.

strawberry float the landlords.

It's not really landlords, they'll be queues out the door if we don't want it. It's the pricing power they have because we haven't built enough homes in the last 30 years.

PostRe: Buying a house (and renting) by **Moggy** » Tue Dec 05, 2023 12:59 pm

Ecno wrote:
Moggy wrote:It's disgusting that rent is that high.

strawberry float the landlords.

It's not really landlords, they'll be queues out the door if we don't want it. It's the pricing power they have because we haven't built enough homes in the last 30 years.

It's both. And more. A lack of house building, greedy landlords, a lack of social housing, people treating homes as investments, AirB&B etc etc.

But strawberry float the landlords, they are the banana splits profiteering off the back of the lack of homes.

Moggy wrote:
Ecno wrote:
Moggy wrote:It's disgusting that rent is that high.

strawberry float the landlords.

It's not really landlords, they'll be queues out the door if we don't want it. It's the pricing power they have because we haven't built enough homes in the last 30 years.

It's both. And more. A lack of house building, greedy landlords, a lack of social housing, people treating homes as investments, AirB&B etc etc.

But strawberry float the landlords, they are the banana splits profiteering off the back of the lack of homes.

Let's face it, if there had been more homes built over the last 30 years the twat landlords would have snapped those up too, and would probably still be charging the same sort of rent for them anyway!

If it helps I'll have to pay about £1625 a month in 1-2 months, as I won't be getting any help - almost 20k a year. Landlord is fine, the rent is actually good for the property (it's a house with 4 rooms) and considering the area, just cleaning up after my own gooseberry fool basically. Obviously not sure how long I can keep that up. Obviously I can move but doing so necessarily strawberry floats up various aspects of your life - especially if your work is location specific. RIP.

Also good luck finding another tenancy, half the time it's pot luck if you're accepted.

PostRe: Buying a house (and renting) by **Squinty** » Mon Jan 22, 2024 12:37 pm

Putting the house up for sale next week, with the intention of moving. I don't think my body is ready for all this bullshit to begin.

PostRe: Buying a house (and renting) by **Curls** » Sun Feb 04, 2024 3:02 pm

Hi guys, I'm wondering if anyone can point me in the direction of a good and free mortgage advisor, my situation is an odd one.

I currently own and for all intents and purposes (I'm often overseas) live in a house in North Wales with my dad as a family member who lives with me. The house is worth £210K and I have about £100K left to pay, so over 50% equity.

I am considering buying a home in Southampton area for something between £200-£250K , however I can't sell my old house as I don't want to kick my dad out, he can't afford to live anywhere in the area without my support. Cost of rent up there is £800 a month and I will do it for him for £400.

That means if I apply for a new mortgage I'll likely have to change my current mortgage on the house in North Wales to a Buy to Let. Which will be a huge blow as I'll lose a 1% interest rate.

I have put all my details into the L and C website and they say I could be lent up to £210K , but I feel I need to actually talk to an advisor properly.

What I'm trying to figure out isss.....if I still live in my house in Wales some of the time....then DO i need to change the mortgage to buy to let if I live in the house in Southampton also? I want to keep on the correct side of the law, but I don't mind grey areas.

If it is indeed (as I predict) the case that I do need to change to Buy to Let, whats the best way forward? I'd assume Buy to Let House I'd put it on interest only, and then on the new place down south, I'd put it on a regular repayment etc.

So yes, if anyone has any mortgage advisors or companies that have been really helpful to them with things like this, then do feel free to reccomend. or heck even if you know a bit yourself!

Thanks,

PostRe: Buying a house (and renting) by **Moggy** » Sun Feb 04, 2024 3:21 pm

I know nothing about this, but is there any way of making you dad a co-owner (just for a few percent) so he wouldn't technically count as a tenant for mortgage purposes?

I think speaking to a mortgage broker sounds best, I have only ever used L&C and found them decent. They will call you to discuss things if you want them to.

PostRe: Buying a house (and renting) by **Squinty** » Sun Feb 04, 2024 7:57 pm

Definitely speak to an advisor. As Moggy said, they can keep you right.

Got the house up for sale now. Viewings start on Tuesday. We did some cleaning and a lot of DIY today, absolutely knackered.

PostRe: Buying a house (and renting) by **Curls** » Mon Feb 05, 2024 5:27 am

Thanks guys, booked in with L and C on Wed.

PostRe: Buying a house (and renting) by **Squinty** » Tue Feb 06, 2024 12:42 pm

Got 4 house viewings later. Just need to make sure they don't nick all my shite.

PostRe: Buying a house (and renting) by **False** » Tue Feb 06, 2024 1:16 pm

my rent was thrown up a hundo, over 10%, this month

cant afford to leave so i guess ill just bend over

Buying a house (and renting)

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