Buying a house (and renting for the proles)

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Squinty
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Location: Norn Oirland

PostRe: Buying a house
by Squinty » Fri Sep 08, 2017 7:20 am

Save like crazy and try to get promoted if possible.

Took me about ten years to get what I had deemed a good deposit together. My monthly repayments are very very manageable right now.

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Qikz
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PostRe: Buying a house
by Qikz » Fri Sep 08, 2017 7:32 am

Moggy wrote:
Qikz wrote:
Moggy wrote:
Hime wrote:
Curls wrote:Soooo, how much deposit do you recon I'd need for a house of about 200k?

I have 11k saved up right now and by this time next year I could have 20-25K.

My salary is around 24 K when shift work isn't included. Around 33 K if it is..it all depends if the bank just take base salary or look at pay slips? Then I guess there are all the legal fees and stuff like that.....I have a skipton lisa open though and if I transfer my help to buy to that and consolidate my finances I could have all that money in the LISA this time next year. Turning 24 K to 30 K. If I'm correct in how the LISA process works.

I'm pretty sure you need 10% for a conventional mortgage but know you need 5% if you use help to buy.

Fees and stamp duty are huge, I reckon you will need at least 15k.


Fees vary (but are usually huge!) but you can work out stamp duty by using a calculator like this one. Stamp duty would be around £1,100 for a £200k house.

Deposit wise, you should have at least 10% - so £20k for a £200k house.


I'm never going to be able to afford to buy a house in this area, strawberry float. Most of them for a 1 bed will need about 35-40k. That's more than I make in a year .


Cut out the avocado toast and you'll soon have enough.

https://www.theguardian.com/lifeandstyl ... oast-house


Saw that article before. Such a moron. :lol:

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Rhubarb
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PostRe: Buying a house
by Rhubarb » Mon Sep 11, 2017 8:39 am

Dual wrote:
Rhubarb wrote:
Hime wrote:I completed today and everything went as smooth as could be.

I honestly thought it would never happen but my girlfriend and I have our dream house :D


Congrats! We completed last week too. So far I got the keys, went round to look at how much of a shite heap it is, and then promptly returned to our rented accommodation :slol: :fp:


How you getting on?


5 weeks on and still haven't done anything. Going round this week to take the radiators all off and strip the walls, damp proof people coming in next week then.

We got the plans back from the architect for the demolition and 2 storey extension - so will submit them after some tweaks this week. 8 week wait to hear back is an absolute joke though :(

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Dual
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PostRe: Buying a house
by Dual » Mon Sep 11, 2017 8:44 am

Oh dear. Hope you haven't caught a cold on it.

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KK
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PostRe: Buying a house
by KK » Mon Sep 11, 2017 9:48 am

I just love the complete BULLSHIT on estate agents websites when describing properties...

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Dual
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PostRe: Buying a house
by Dual » Mon Sep 11, 2017 10:02 am

You can get something like that for sub £100k in West Midlands

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Lotus
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PostRe: Buying a house
by Lotus » Mon Sep 11, 2017 12:09 pm

£325k :lol: :dread:

Such an unprofessional sounding description as well, badly written and full of gooseberry fool. You expect a level of bullshit, but that's really pushing it.

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Grumpy David
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PostRe: Buying a house
by Grumpy David » Mon Sep 11, 2017 12:29 pm

Flat roof too from the looks of it. Limited life, ongoing repairs and periodic replacement. Also prone to sudden failure.

Looks like West Croydon.

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Jamo3103
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Location: Manchester

PostRe: Buying a house
by Jamo3103 » Mon Sep 11, 2017 8:54 pm

Had a hectic couple of weeks, started viewing houses with my girlfriend towards the end of August and we spent a couple of weeks rushing around seeing every house in our price range in the area we were looking. Got lucky and found exactly what we were looking for quite quickly, had a couple of viewings and ended up having to move a little faster than anticipated as someone else made an offer. We've had our offer accepted thankfully and have now had full mortgage approval (subject to valuation) and have completed all forms with solicitors. Can't believe how quickly it has all moved!

What's next? Sit around and wait for solicitors to do their bit now?

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Finish.Last
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PostRe: Buying a house
by Finish.Last » Tue Sep 12, 2017 7:29 am

It seems a lot for that house but it must be pretty handy having your workplace just downstairs.

I called off his players' names as they came marching up the steps behind him....All nice guys. They'll finish last. Nice guys. Finish last.
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Skarjo
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PostRe: Buying a house
by Skarjo » Tue Sep 12, 2017 8:44 am

Where the strawberry float does a gooseberry fool pile like that cost a third of a million?

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Skarjo's Scary Stories...
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kommissarboris
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PostRe: Buying a house
by kommissarboris » Tue Sep 19, 2017 2:08 am

I bought my house!

I work for a bank, so I was able to get some staff promo's, like my rate is 0.25%, and no fees except for the surveyor and solicitor.

All went really smooth, except that I did it over the summer, in Northern Ireland all solicitors appear to shut down for two weeks while certain folk here like to march around banging drums, so that delayed things a little.

Slowly building the savings back up, 12K deposit I put down to make the mortgage small and the payments smalls, but I can over pay as much as I like. Took it over twenty years.

Might remortgage within the year and get an extension and make a larger bathroom, dunno though, next on list is to pay men to paint the whole place.

The oppressed are allowed once every few years to decide which particular representatives of the oppressing class are to represent and repress them in parliament.

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Squinty
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PostRe: Buying a house
by Squinty » Tue Sep 19, 2017 7:22 am

Good man Boris. That is a damn good rate. I have a cap of £6000 a year on how much I can overpay, but to be fair, I would never be able to pay anything more than £4000 a year into it.

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Qikz
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PostRe: Buying a house
by Qikz » Tue Sep 19, 2017 7:26 am

kommissarboris wrote:I bought my house!

I work for a bank, so I was able to get some staff promo's, like my rate is 0.25%, and no fees except for the surveyor and solicitor.

All went really smooth, except that I did it over the summer, in Northern Ireland all solicitors appear to shut down for two weeks while certain folk here like to march around banging drums, so that delayed things a little.

Slowly building the savings back up, 12K deposit I put down to make the mortgage small and the payments smalls, but I can over pay as much as I like. Took it over twenty years.

Might remortgage within the year and get an extension and make a larger bathroom, dunno though, next on list is to pay men to paint the whole place.


12k deposit?

To get a house anywhere near I live I need atleast 100k. God damn.

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Squinty
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PostRe: Buying a house
by Squinty » Tue Sep 19, 2017 7:29 am

Northern Irish house prices are pretty good. Probably because no one wants to live here.

You could buy a nice 2 bedroom house over here for the amount of deposit you would need.

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Dual
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PostRe: Buying a house
by Dual » Tue Sep 19, 2017 8:16 am

A hundred grand deposit!?

You sure that's right staydead?

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Rhubarb
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PostRe: Buying a house
by Rhubarb » Tue Sep 19, 2017 8:23 am

It's almost definitely not :lol:

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Moggy
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PostRe: Buying a house
by Moggy » Tue Sep 19, 2017 8:27 am

At 10%, that would mean the houses in his area are priced at £1million. Could be true I guess, but I am sure there are much cheaper alternatives. :lol:

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Drumstick
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PostRe: Buying a house
by Drumstick » Tue Sep 19, 2017 8:28 am

That would make the cheapest house in StayDead's neighbourhood a paltry £2m. DAT affluence.

One man should not have this much power in this game. Luckily I'm not an ordinary man.
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Drumstick
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PostRe: Buying a house
by Drumstick » Tue Sep 19, 2017 8:30 am

Moggy wrote:At 10%, that would mean the houses in his area are priced at £1million. Could be true I guess, but I am sure there are much cheaper alternatives. :lol:

You can do 5% deposit with Help to Buy. Stop trying to undersell his neighborhood.

One man should not have this much power in this game. Luckily I'm not an ordinary man.
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"economically unviable"
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