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Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 10:39 am
by Moggy
Lagamorph wrote:Going back to my mortgage, looks like my fixed rate actually ends in July. Is it normal for a 2 year fixed rate to actually last 2 years and 3 months? This happened last time as well.


I noticed that on my last mortgage statement. I took out a 2 year fix in Feb 2016, but my last mortgage statement has it ending at the end of April 2018.

I am not too bothered, but it seems that they do add a couple of months for some reason.

Re: RE: Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 10:53 am
by shadow202
Moggy wrote:
Lagamorph wrote:Going back to my mortgage, looks like my fixed rate actually ends in July. Is it normal for a 2 year fixed rate to actually last 2 years and 3 months? This happened last time as well.


I noticed that on my last mortgage statement. I took out a 2 year fix in Feb 2016, but my last mortgage statement has it ending at the end of April 2018.

I am not too bothered, but it seems that they do add a couple of months for some reason.
Yes it's completely normal, most fixed rates have set end dates instead of being tailored.

Re: RE: Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 10:57 am
by Moggy
shadow202 wrote:
Moggy wrote:
Lagamorph wrote:Going back to my mortgage, looks like my fixed rate actually ends in July. Is it normal for a 2 year fixed rate to actually last 2 years and 3 months? This happened last time as well.


I noticed that on my last mortgage statement. I took out a 2 year fix in Feb 2016, but my last mortgage statement has it ending at the end of April 2018.

I am not too bothered, but it seems that they do add a couple of months for some reason.
Yes it's completely normal, most fixed rates have set end dates instead of being tailored.


I figured it was normal, it’s just odd that a 2 year fix is actually a 26 month fix.

Re: RE: Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 11:05 am
by Lagamorph
Moggy wrote:
shadow202 wrote:
Moggy wrote:
Lagamorph wrote:Going back to my mortgage, looks like my fixed rate actually ends in July. Is it normal for a 2 year fixed rate to actually last 2 years and 3 months? This happened last time as well.


I noticed that on my last mortgage statement. I took out a 2 year fix in Feb 2016, but my last mortgage statement has it ending at the end of April 2018.

I am not too bothered, but it seems that they do add a couple of months for some reason.
Yes it's completely normal, most fixed rates have set end dates instead of being tailored.


I figured it was normal, it’s just odd that a 2 year fix is actually a 26 month fix.

Mine is 27 months. Took it out in April 2016 and it ends 31st July 2018. Just weird that they put 2 years in the name but it's actually longer.

Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 12:17 pm
by Drumstick
Part of the problem, Laga.

Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 12:57 pm
by Moggy
Drumstick wrote:Part of the problem, Laga.


Laga will be fine, he is about to find lots of mineral deposits in his garden and that will be enough to pay off his mortgage*.

*but only if the minerals are in his half of the garden.

Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 1:32 pm
by Albear
His mum's mortgage you mean

Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 1:33 pm
by Lagamorph
No, my mortgage.

Re: Buying a house (and renting for the proles)

Posted: Tue Mar 06, 2018 1:34 pm
by Albear
Sorry got you mixed up with someone else.

No trouble.

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 7:41 pm
by No:1 Final Fantasy Fan
I found a nice duplex one bed flat to rent in the city centre with street parking.
But the landlord is not in the country and said he will use Airbnb for me to pay my monthly rent and security deposit.
Anything wrong with this?

I found the advert on SpareRoom but was told to communicate via email
This is the email I got
you will have to pay 580 first month + 800 security deposit.
bills included in rent council tax, tv, internet, electricity
not included: water, gas
At this moment I'm in Italy and can not be present to deal face to face. My job doesn't allow me to leave Italy. We just hired some new staff and I'm in charge of their training. This won't affect you at all. I can make arrangements to rent the apartment through Airbnb( www.airbnb.com ) which is an international company dealing specifically in rentals apartments, I used it in the past and I was very pleased for their services. The reason I use Airbnb is because they are one of the most biggest rental company around the world and I really trust them. I belive that you know Airbnb.

Using Airbnb involves three parties: me as owner, you as a potential tenant and Airbnb as a responsible third party authorized to proper conduct the transaction.

Using Airbnb you can see the apartment before you sign the rental contract, so you can choose if you want to rent it or not. You will make the payment for the first month of rent plus security deposit using Airbnb payment platform.
I will open a reservation on the Airbnb website and indicate you as my potential tenant.

Please let me know if you accept Airbnb and provide me with the following details for your referencing application so that I can register the transaction with Airbnb and move forward.

Your phone number
Full name
Scan or photo of ID
The date you want to move in
How many people are going to live in my apartment
For how long do you want to rent the apartment

Kind Regards

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 8:06 pm
by smurphy
I'm no lawyer but seeing as AirBnb is meant for short term holiday rentals you probably won't get the same sort of legal cover you would if you were a proper tenant with a normal contract etc. Not to mention having your landlord living in another country is just going to cause all sorts of hassle long-term.

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 9:41 pm
by Grumpy David
No:1 Final Fantasy Fan wrote:I found a nice duplex one bed flat to rent in the city centre with street parking.
But the landlord is not in the country and said he will use Airbnb for me to pay my monthly rent and security deposit.
Anything wrong with this?

I found the advert on SpareRoom but was told to communicate via email
This is the email I got
you will have to pay 580 first month + 800 security deposit.
bills included in rent council tax, tv, internet, electricity
not included: water, gas
At this moment I'm in Italy and can not be present to deal face to face. My job doesn't allow me to leave Italy. We just hired some new staff and I'm in charge of their training. This won't affect you at all. I can make arrangements to rent the apartment through Airbnb( http://www.airbnb.com ) which is an international company dealing specifically in rentals apartments, I used it in the past and I was very pleased for their services. The reason I use Airbnb is because they are one of the most biggest rental company around the world and I really trust them. I belive that you know Airbnb.

Using Airbnb involves three parties: me as owner, you as a potential tenant and Airbnb as a responsible third party authorized to proper conduct the transaction.

Using Airbnb you can see the apartment before you sign the rental contract, so you can choose if you want to rent it or not. You will make the payment for the first month of rent plus security deposit using Airbnb payment platform.
I will open a reservation on the Airbnb website and indicate you as my potential tenant.

Please let me know if you accept Airbnb and provide me with the following details for your referencing application so that I can register the transaction with Airbnb and move forward.

Your phone number
Full name
Scan or photo of ID
The date you want to move in
How many people are going to live in my apartment
For how long do you want to rent the apartment

Kind Regards


Not aware of AirBNB being able to offer 6 month or 12 months ASTs but maybe they can.

Tell him to use an online lettings agency instead. They can offer a fully managed service for landlords who live abroad.

Purplebricks, emoov, openrent. Google offers a tonne of options.

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 9:44 pm
by shadow202
You could always contact Airbnb and talk to them about it to see what cover etc you would have.

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 9:53 pm
by Dual
Seems legit. Don't worry about it.

Re: Buying a house (and renting for the proles)

Posted: Thu Mar 08, 2018 10:11 pm
by No:1 Final Fantasy Fan
Thanks for all the replies but I just noticed that the advert on SpareRoom.com has vanished...and it was only uploaded today.
Maybe it was reported by other users and SpareRoom took it down
Also I googled it and found loads of similar stories that turned out to be scams. Although this one does sound more legit than the ones I read on google

update: seems like it was most likely a scam. A moderator emailed me today telling me to stop all communications with this user and to forward all comms I had to them.

Re: Buying a house (and renting for the proles)

Posted: Sat Mar 17, 2018 8:41 am
by Oblomov Boblomov
Had my flat valued yesterday and they've put it at 160% of the price I paid just under 5 years ago. :shock:

It's apparently worth £25k more than what we're paying for the house we're moving into.

Trying not to get too excited, counting the chickens before the eggs have hatched and all that.

Re: Buying a house (and renting for the proles)

Posted: Sat Mar 17, 2018 7:53 pm
by That's not a growth
No:1 Final Fantasy Fan wrote:Thanks for all the replies but I just noticed that the advert on SpareRoom.com has vanished...and it was only uploaded today.
Maybe it was reported by other users and SpareRoom took it down
Also I googled it and found loads of similar stories that turned out to be scams. Although this one does sound more legit than the ones I read on google

update: seems like it was most likely a scam. A moderator emailed me today telling me to stop all communications with this user and to forward all comms I had to them.


Don't listen to them. They're jealous. Go for it before they get it before you. Everyone is competition.

Re: Buying a house (and renting for the proles)

Posted: Sat Mar 17, 2018 8:05 pm
by Bunni
Looking to buy once I've settled into my new work contract, probably around a year from now. What should we be doing in the mean time? We've got some deposit and I'll be opening a help to buy ISA in the summer once were back from Japan (currently saving for that) and be saving regularly into that.

Deposit is easy enough to work out, but how much should we be putting aside for duty, fees and all that legal jazz?

Re: Buying a house (and renting for the proles)

Posted: Sun Mar 18, 2018 10:12 am
by Curls
Bunni wrote:Looking to buy once I've settled into my new work contract, probably around a year from now. What should we be doing in the mean time? We've got some deposit and I'll be opening a help to buy ISA in the summer once were back from Japan (currently saving for that) and be saving regularly into that.

Deposit is easy enough to work out, but how much should we be putting aside for duty, fees and all that legal jazz?


Bunni, both of you open a Lifetime ISA with Skipton ASAP and put £1 in just to tick off the start date They need to be open for a year before they can be used, and they're more lucrative than H2B as you can put in more money (£4000 per annum instead of 2400).

Re: Buying a house (and renting for the proles)

Posted: Sun Mar 18, 2018 3:14 pm
by smurphy
I just opened my LISA yesterday. Thankfully they don't add the first year's bonus until April 6th so I'll still get the full amount for this year. Thought I'd missed it due to my procrastination.