Buying a house (and renting)

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Cuttooth
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PostRe: Buying a house (and renting)
by Cuttooth » Fri Jun 19, 2020 12:12 pm

Drumstick wrote:Just so you know, TNAG, the cost of building materials is going through the roof at the moment.

Depends, the price of materials for doing up a cellar couldn't be any lower.

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Curls
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PostRe: Buying a house (and renting)
by Curls » Fri Jun 19, 2020 12:20 pm

Obviously it's not helpful now. But why oh why didn't you change to a LISA when you could have?

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poshrule_uk
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PostRe: Buying a house (and renting)
by poshrule_uk » Fri Jun 19, 2020 12:24 pm

I work in mortgages and 90% deals do exist

We were doing them but had to pull due to work volumes but they will likely be back soon

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That's not a growth
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PostRe: Buying a house (and renting)
by That's not a growth » Fri Jun 19, 2020 12:39 pm

Curls wrote:Obviously it's not helpful now. But why oh why didn't you change to a LISA when you could have?


1 - I'm not 100% certain if I am going to buy. I'm still very unhappy with my job and part of me doesn't want to be stuck in an area and reduce my job prospects - but I've been looking for years now and I'm really beginning to think I would have to start something again from scratch or do a few qualifications if I did want to work somewhere else, which would be a long-term plan.

2 - Because of the above uncertainly the H2B had the benefit of not charging me if I need to withdraw my money for another purpose, and I'm on a good interest rate.

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Grumpy David
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PostRe: Buying a house (and renting)
by Grumpy David » Fri Jun 19, 2020 12:40 pm

That's not a growth wrote:What I mean is if I wanted to put down early exactly 10% it might be less than £15k. While I could up my percentage to, say, 12%, to use the full £15k I might actually want to use this money towards, for example, building materials - since I wouldn't get a better rate on my mortgage for this minimal difference in LTV, it feels a better use of this money.

And I wasn't necessarily planning on buying in October, it's just that this is when I'll 'fill' my H2B. I would probably wait until 90% mortgages are common again.


Oh right. Don't think it's an issue to have the solicitor only apply for the 10% so any leftover is available for home improvements.

Almost certainly worthwhile holding off to 10% becomes common again. We still don't know if we'll get seasonal spikes with C Virus but better to err on the side of caution. Plus it's when furlough income support ends and you'd expect the 3 D's of house selling to kick in: Death, Debt and Divorce. And that could lead to a drop in house prices too.

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PostRe: Buying a house (and renting)
by OrangeRKN » Fri Jun 19, 2020 12:47 pm

That's not a growth wrote:the H2B had the benefit of not charging me if I need to withdraw my money for another purpose


This is why I've stuck with the H2B ISA also

The "outside of London" price cap is ridiculous considering the prices around here though (Reading) so when we get to buying (next year at this rate with covid) I'm not even sure we'll qualify for any of the government money.

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Drumstick
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PostRe: Buying a house (and renting)
by Drumstick » Mon Jun 29, 2020 1:11 pm

Some good news: my mortgage has, at last, been approved for the house we want to move to! :toot:

Providing all goes according to plan, Cuntman (see the moan about your neighbours thread if unfamiliar) and his mates will be consigned to the past.

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Oblomov Boblomov
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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Tue Jun 30, 2020 10:18 pm

Great news, Drummy. First time mortgage? Must have been squeaky bum time when lockdown kicked in.

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PostRe: Buying a house (and renting)
by Drumstick » Tue Jun 30, 2020 10:20 pm

Oblomov Boblomov wrote:Great news, Drummy. First time mortgage?

No. We are porting our existing mortgage.

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PostRe: Buying a house (and renting)
by Oblomov Boblomov » Tue Jun 30, 2020 10:22 pm

Drumstick wrote:
Oblomov Boblomov wrote:Great news, Drummy. First time mortgage?

No. We are porting our existing mortgage.

Ah right, not quite so nerve-wracking then. Although it was still a monster ball ache when I did it a couple of years ago.

Good luck with the rest of it.

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PostRe: Buying a house (and renting)
by Prototype » Tue Jun 30, 2020 10:52 pm

Drumstick wrote:Some good news: my mortgage has, at last, been approved for the house we want to move to! :toot:

Providing all goes according to plan, Cuntman (see the moan about your neighbours thread if unfamiliar) and his mates will be consigned to the past.


I was enjoying the stories :lol:

You're not moving just because of him right?!

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Drumstick
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PostRe: Buying a house (and renting)
by Drumstick » Wed Jul 01, 2020 12:13 am

Prototype wrote:I was enjoying the stories :lol:

You're not moving just because of him right?!

Nah, that played no part in our decision, we've been looking to move since October last year. Our family has expanded since we bought this place 4 years ago and it isn't big enough anymore.

The house we're moving to has everything this house has, plus a playroom and a colossal garden for the daughter and dog to run wild in. It's also in a nicer area and from what I can tell, we're unlikely to have noise complaints about our new neighbours.

I'll do what I can to provide Cuntman updates up until we leave.

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PostRe: Buying a house (and renting)
by Drumstick » Wed Jul 01, 2020 7:35 am

Moggy, has there been any developments in your leasehold situation?

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PostRe: Buying a house (and renting)
by Moggy » Wed Jul 01, 2020 8:23 am

Drumstick wrote:Moggy, has there been any developments in your leasehold situation?


Nope. I had another argument with them when they claimed the ground rent wasn't paid. I pointed out it had been paid (in November) as soon as they had invoiced me for it. They then claimed that the invoice was sent in advance and that the ground rent shouldn't be paid until 1 January.

They gave in in the end but warned me not to do it again. strawberry floating arseholes.

The main complaint is still with the Property Ombudsman. There was some good news there at the start of June, the landlords didn't bother sending any evidence to the Ombudsman and so only my evidence will be used when they make a decision. But it'll be around 90 days before the Ombudsman releases their judgement. :x

Feels like this gooseberry fool will never end.

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PostRe: Buying a house (and renting)
by That's not a growth » Wed Jul 01, 2020 8:30 am

Looks like you've got light at the end of the tunnel though, them being stupid enough to not submit anything is a promising sign.

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PostRe: Buying a house (and renting)
by Drumstick » Wed Jul 01, 2020 8:44 am

Moggy wrote:
Drumstick wrote:The main complaint is still with the Property Ombudsman. There was some good news there at the start of June, the landlords didn't bother sending any evidence to the Ombudsman and so only my evidence will be used when they make a decision. But it'll be around 90 days before the Ombudsman releases their judgement. :x

Feels like this gooseberry fool will never end.

The PO can only come to a decision based on the evidence they are provided with and if the leaseholder is effectively refusing to engage, well, that reduces the number of outcomes the PO can conclude. The case is weighted in your favour at the moment. Still, let's wait for the outcome.

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Moggy
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PostRe: Buying a house (and renting)
by Moggy » Wed Jul 01, 2020 8:54 am

That's not a growth wrote:Looks like you've got light at the end of the tunnel though, them being stupid enough to not submit anything is a promising sign.


Drumstick wrote:The PO can only come to a decision based on the evidence they are provided with and if the leaseholder is effectively refusing to engage, well, that reduces the number of outcomes the PO can conclude. The case is weighted in your favour at the moment. Still, let's wait for the outcome.


Yeah it's good news. The PO are pretty toothless but a positive decision from them will let me properly threaten the landlords and will look good in court if it goes that far.

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PostRe: Buying a house (and renting)
by Drumstick » Wed Jul 01, 2020 9:02 am

I'm really hoping someone, somewhere down the line declares that these cowboys have to pay you some amount of compensation for the prolonged stress this must have caused.

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Moggy
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PostRe: Buying a house (and renting)
by Moggy » Wed Jul 01, 2020 9:07 am

Drumstick wrote:I'm really hoping someone, somewhere down the line declares that these cowboys have to pay you some amount of compensation for the prolonged stress this must have caused.


I'm not even pushing for that, just want them to honour the agreement we already had. Then I can (hopefully!) sell this place and get the strawberry float away.

I'll take compo if offered though. ;)

Congrats on your upcoming move btw!

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PostRe: Buying a house (and renting)
by Drumstick » Wed Jul 01, 2020 9:09 am

Thanks.

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