Buying a house (and renting)

Yeah... My dad's a coward who abandoned us when I was 5 and my brother just 2 (my mother is also disabled), my eldest brother was 10. Now he lives in an isolated place taking super high res pictures of spiders and butterflies and has some kind of mad plan on ultimately help us at the last possible moment. I mean literally the moment he dies. Hell, at least he has some kind of plan, but talk about making things right late in the day after years if not decades of almost total absence :fp:

I recognise I am immensely priveleged but nonetheless feel I somewhat pay for that dearly living under and dependent on someone with borderline sociopathic tendencies who withholds the truth for most of your life.

My mums about to remortgage her house for the 3rd time just so she can pay for my granny's care (she just turned 93 or something) so the banks going to own 70% of that or whatever when it was owned outright when she was made redundant over a decade ago and never found another job likely due to both ageism and discrimination.

Anyway, still waiting to hear on the property owner (I refuse to give these people the title of Lord!!) for the new place, we upped our offer to make 1600pcm and its bloody dreadful waiting on a decision to accept us or not. Got some other places lined up to view.

PostRe: Buying a house (and renting) by **Dual** » Fri Jun 25, 2021 1:36 pm

£1,600 a month. Wow I just can't even

PostRe: Buying a house (and renting) by **Imrahil** » Fri Jun 25, 2021 1:43 pm

I try to assume that I'll receive nothing from my parents when they pass away, even though the likelihood is I'll receive something.

There are so many other factors involved; like healthcare in the UK over the next 20 years. There may be an increasing number of older people who need to dip into their savings to bypass NHS waiting lists to go private for example. Not just for medical procedures, but for assistance in general as they get older. It's all going to get much more expensive and much more difficult to get appropriate care.

They may need to downsize and use the house profits to continue doing that, etc. 'Projected inheritance' is a dangerous concept these days and there are going to be an increasing number of younger people having their expectations dashed I fear.

It's what I've been trying to explain to my younger sister. She wants early inheritance to help buy a house, but my dad's already said it'll be fully accounted for in his will. So if our parents end up leaving nothing to any of us I'll effectively end up owning a share of her house (along with my two brothers). Which could potentially hugely complicate things in the future.

Early inheritance is of course a lot more straightforward when you're an only child, but it can be a source of major issues otherwise when only one sibling is accessing it.

PostRe: Buying a house (and renting) by **Moggy** » Fri Jun 25, 2021 1:47 pm

The whole housing system is disgusting in this country. Millions of people are priced out of buying a property and rents are so high that people either have to live with parents or spend all of their income on rent.

We've ended up in a situation where the only hope people have is for a relative to die.

The whole thing needs to be rethought. But of course won't be.

1,600 p/m, jfc

Don't worry, we were not deemed worthy for the 1600pcm alongside some other couple (probably Mr and Mrs Smith with 50k salaries each who don't already own for some reason)

We offered three, THREE guarantors combined 90,000k income, all house owners with no mortgage. Nope, not good enough. This is how insane renting is in the most desirable areas i.e. If you want a life or depend on community events and arts/culture to actually do your job.

Other good areas in the south east even places where the elderly basically go to die (Eastbourne) are 1250pcm for 2 bed and that's an hour and a half away from my partner's work. We have good reason to be in Brighton it's just ridiculous finding anywhere that isn't literally rotten (as it was 6 years ago we were looking with a budget of 900pcm, some of the places were growing mushrooms).

My circumstances are pretty unusual as I need good connections as well as a workspace, most people don't need that especially the utility space for my machinery and printers.

So it's down to 1500pcm budget for non exceptional location (that one was the lanes). 5 calls, no response from agents, no emails returned. At least the fancy place had decent agents who responded generally within the hour or first thing in the morning. The property owner is just picking what they like.

The other let might fall through so they've implied we're the backup option. I've also asked them to provide a reason if possible.

Let's be honest, even if it's illegal I was open about my autism and support from the government and family with that which is not attractive to the upper class. Sure I am not a banker I am an artist.

Anyway strawberry float them and whatever their idea of "quality people" is.

It says a lot when an agent / property owner refer to home searchers as "applicants". It's completely different to buying, they have to actually like the sound or look of you which leads to all kinds of coded unfathomable bullshit.

PostRe: Buying a house (and renting) by **Squinty** » Fri Jun 25, 2021 8:47 pm

Straight up, I wouldn't be able to afford that monthly amount on the wage I am on.

I pay under 300 a month for my mortgage. The perks of living in a shitty country no one wants to be in.

Bear in mind it's two people. So 800pcm.

We rented a one bed house with studio living area and kitchen for £700pcm in Surrey first of all, a flat would go for similar amount (we negotiated £50 off). So that would usually be the cost for one person anyway (1 bed). Renting as a couple or even a fake couple has its benefits, but many places don't have HMO licenses so it's a maximum of 2 whichever way you present it.

We do choose to eschew a lot of our income for a good location and place to live in terms of amenities and space, I guess it depends on what your priorities and lifestyle are like. We hardly spend anything out and about or even on basic things like clothes for example, never even been on holiday in 10 years.

Things have been going well. Mortgage broker seem to think I'll get about £1.3k less than the max I was hoping for, which is very workable and much better than the massive drop I was fearing last week (god, it's only been a week since my offer was accepted, this has been the longest week of my strawberry floating life, urgh).

So I just submitted loads of statements and stuff so the mortgage broker can apply for the mortgage for me, but they seem happy so far. Moment of truth I guess.

Squinty wrote:Straight up, I wouldn't be able to afford that monthly amount on the wage I am on.

I pay under 300 a month for my mortgage. The perks of living in a shitty country no one wants to be in.

Wales?

Rocsteady wrote:
Squinty wrote:Straight up, I wouldn't be able to afford that monthly amount on the wage I am on.

I pay under 300 a month for my mortgage. The perks of living in a shitty country no one wants to be in.

Wales?

How dare you! My mortgage is only £280 a month! I don't know what posh lahdeedahh part of the world Squinty lives in.

PostRe: Buying a house (and renting) by **Squinty** » Tue Jun 29, 2021 12:53 pm

Rocsteady wrote:
Squinty wrote:Straight up, I wouldn't be able to afford that monthly amount on the wage I am on.

I pay under 300 a month for my mortgage. The perks of living in a shitty country no one wants to be in.

Wales?

Northern Ireland. Pay about 280 or so.

PostRe: Buying a house (and renting) by **Jenuall** » Tue Jun 29, 2021 1:02 pm

£280 a month! :shock:

Think of all the money left over to blow on booze, birds and fast cars!

Fair play, that's a lovely wee mortgage.

Picking up the keys to our new house tomorrow! Moving in the morning.

Packing's strawberry floating shite eh

PostRe: Buying a house (and renting) by **Jenuall** » Tue Jun 29, 2021 1:06 pm

Ugh, packing :dread:

Hiring professional movers to do all the packing on our last move was one of the best decisions ever. Can't be dealing with that gooseberry fool

I just threw everything out and bought everything again at the other end of the move.

PostRe: Buying a house (and renting) by **Imrahil** » Tue Jun 29, 2021 1:08 pm

I was fortunate to get a base rate tracker mortgage at +0.5% around 16 years ago when I bought my place, so I've been very lucky since 2009. My monthly payments have been £350-£400 a month. Funnily enough they stopped offering those deals not long after I snapped one up.

Could all go tits up if inflation sends interest rates shooting up of course, but I'll cross that bridge when I come to it.

PostRe: Buying a house (and renting) by **Photek** » Tue Jun 29, 2021 1:13 pm

Squinty wrote:Straight up, I wouldn't be able to afford that monthly amount on the wage I am on.

I pay under 300 a month for my mortgage. The perks of living in a shitty country no one wants to be in.

Jaysus.

PostRe: Buying a house (and renting) by **Moggy** » Tue Jun 29, 2021 1:18 pm

Victor Mildew wrote:I just threw everything out and bought everything again at the other end of the move.

If my wife would allow it, I'd love to do that.

PostRe: Buying a house (and renting) by **Jenuall** » Tue Jun 29, 2021 1:21 pm

Moggy wrote:
Victor Mildew wrote:I just threw everything out and bought everything again at the other end of the move.

If my wife would allow it, I'd love to do that.

Throw her out as well, problem solved! :toot:

Buying a house (and renting)

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