Re: Buying a house
Posted: Tue Sep 19, 2017 9:23 am
Qikz wrote:
12k deposit?
To get a house anywhere near I live I need atleast 100k. God damn.
You don't need to buy a mansion!
Qikz wrote:
12k deposit?
To get a house anywhere near I live I need atleast 100k. God damn.
Drumstick wrote: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.
You can do 5% deposit with Help to Buy. Stop trying to undersell his neighborhood.
BID0 wrote:They only lend 4-5 times your wage so he is probably right with 100k, to cover the amount the mortgage wont pay for. I had to pay nearly 40% deposit of my last house.
BID0 wrote:They only lend 4-5 times your wage so he is probably right with 100k, to cover the amount the mortgage wont pay for. I had to pay nearly 40% deposit of my last house.
You couldn't use a 5% Help to Buy deposit in the South East. You would have trouble even buying a beach hut on the coast, they go for about £30k last I checked.
Qikz wrote:1 Bedroomed Flats around here cost 300k. I've looked at mortgage calculators and it always points at me needing about 100k deposit. It's insane.
Drumstick wrote:BID0 wrote:They only lend 4-5 times your wage so he is probably right with 100k, to cover the amount the mortgage wont pay for. I had to pay nearly 40% deposit of my last house.
You couldn't use a 5% Help to Buy deposit in the South East. You would have trouble even buying a beach hut on the coast, they go for about £30k last I checked.
I live in Sussex and used HTB to buy my house last year.
Drumstick wrote:Not really. We were both earning below the national average and our house was £260k. We saved hard for the initial 5% deposit and I talked the vendor into covering our stamp duty. What still just barely qualified.
BID0 wrote:Drumstick wrote:Not really. We were both earning below the national average and our house was £260k. We saved hard for the initial 5% deposit and I talked the vendor into covering our stamp duty. What still just barely qualified.
Nice!
I'm single but I've been lucky enough to get by with another person. I've just paid my mortgage off now though so I'm currently saving for a new place I can properly have on my own. Will probably wait for 2-3 years and see if there's another crash to jump in on.
Drumstick wrote:BID0 wrote:Drumstick wrote:Not really. We were both earning below the national average and our house was £260k. We saved hard for the initial 5% deposit and I talked the vendor into covering our stamp duty. What still just barely qualified.
Nice!
I'm single but I've been lucky enough to get by with another person. I've just paid my mortgage off now though so I'm currently saving for a new place I can properly have on my own. Will probably wait for 2-3 years and see if there's another crash to jump in on.
O_o
Good work. We're currently looking into remortgaging when our fixed term comes to an end in order to assimilate the HTB loan and avoid the interest fees in a few years time.
jiggles wrote:My initial 3 year fixed term was up this month for my mortgage, so the combination of
a) The mortgage no longer being for a brand new house
and
b) A £30k appreciation in the property value
have got me such an improved rate that it's reduced my monthly repayments by 35%.
Qikz wrote: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.