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Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 13:35

ya just been looking and there is some nice 3 bedroom semi's out there for good prices just aranged to go look at 1 tomorrow witch is £114k http://www.rightmove.co.uk/property-for-sale/new-homes/property-35694356.html?premiumA=true

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 13:38

and quite like this one http://www.rightmove.co.uk/property-for-sale/property-20713380.html?premiumA=true

and this http://www.rightmove.co.uk/property-for-sale/property-29542078.html

price seems more sensable and will be better in my pocket as well more to live on and can have all the luxarys e.g internet, BT vision/sky/vergine witch ever is best

[Edited on 17-02-2012 by liam-corsa-1400]

John

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Registered: 30th Jun 03
User status: Offline

17th Feb 12 at 13:40

They are almost half the price.

Surely you must have an idea of what you are looking for a bit more specific than 2-4 bedroom, 100-200k?

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 13:43

the 4 bed was more the missus but i keep saying id profer something smaller to much room ext but i passed the idea off to the missus of the one posted early in seaham and she is takign more to the idea of smaller and more cost efficiant

im not fond of debit to start with and the pice of the 4 bed acctualy scares me

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 13:45

and from most the advice i have been given going for something like a 4 bed is a stupid idea for a first time buy when i could get something just as nice a bit smaller and use it as part investmant

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 13:50

http://www.rightmove.co.uk/property-for-sale/property-34585604.html
just found this but dont really wanna show the missus its a 4bed but now im thinkg of heating costs why do we need all that room and i know hte area and its not the best of areas

stuartmitchell

Member

Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
User status: Offline

17th Feb 12 at 13:59

quote:
Originally posted by Jimbothebarbarian

quote:
Originally posted by John
I'd go for as big a place as possible, not at that price though.

That's if you'll even get the mortgage btw.

[Edited on 17-02-2012 by John]

This. If I could do it all again instead of being all namby pamby and worrying about it I would of got the biggest house I could have realistically afforded (as in borderline painfully expensive) I would have been laughing my todger off at the moment.

Property has done me and the missus alright and my biggest regret is not putting more into my bricks and mortar than super unleaded and car tax

Start now and as you are doing start young and in 20 or 30 years you'll be a happy lad.

All of the above is of course IMHO and does not constitute sound financial advice from a professional.

[Edited on 17-02-2012 by Jimbothebarbarian]

AGREED big time! We were too busy worrying if we could still go out and get smashed at the weekend. Should of pushed ourselves much harder expecially with not having to pay SD as a 1st time buyer.

Now were looking at moving and had no idea it was so expensive to try and move - double legal fees - SD to pay

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 14:13

i dont go out much nothign really to do i do like a treat once in a while e.g go for a meal with the missu ext but i dont drink never have and prob never realy will i might have a few drins at a special occasion like my engagament party is on the 26th may but other than that all i do is mess about with my car or chill

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 14:24

http://www.rightmove.co.uk/property-for-sale/new-homes/property-28247665.html?premiumA=true
this seems like a really good buy

stuartmitchell

Member

Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
User status: Offline

17th Feb 12 at 16:32

Nice that mate. cant believe how cheap they are

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 16:35

houses round hear ant expensive other than a couple in seaham there is a hour for 1.25 mill :O

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

17th Feb 12 at 16:36

http://www.rightmove.co.uk/property-for-sale/property-30918614.html

only 4 bed

p.s im not lookign to buy this

[Edited on 17-02-2012 by liam-corsa-1400]

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

19th Feb 12 at 10:58

quote:
Originally posted by stuartmitchell

With a 25K deposit I would suggest looking at something in the region of £120,000 as that would be a (just over) 20% deposit and you'll get access to a better range of deals thus bringing your monthly cost down.

I would use rightmove, set your max price to 120K - see what comes up and go for the one you like the most (it probably wont be the most expensive one).

Statistics show you will only stay in your first home for 3 years so see it as more of a foot on the ladder. Good sized flat, semi detatched house with 2 or 3 bedrooms would probably suit you fine!

Great advice. A 190k mortgage with little deposit will be not manageable as a first time buyer

You need about a 30 percent deposit to get access to good rates

Certainly that's what I have found. Secured a mortgage yesterday and borrowed extra and because of my deposit interest rates are offer at around 3.5 percent

Personally I think your biting off more than you can chew

John

Member

Registered: 30th Jun 03
User status: Offline

19th Feb 12 at 11:07

190k mortgage is perfectly manageable if you make enough.

baza31

Member

Registered: 19th Apr 03
Location: yorkshire
User status: Offline

19th Feb 12 at 14:01

quote:
Originally posted by whitter45

quote:
Originally posted by liam-corsa-1400
http://www.rightmove.co.uk/property-for-sale/property-32343898.html?premiumA=true

hear is one of the homes we have been looking at what do people think pros and cons would you say

looks excellent - first time buyer or do you have property already

First time buyer you will probably miss out on stamp duty exemption as they are removing it from 25th March

[Edited on 16-02-2012 by whitter45]

First time buyer you will probably miss out on stamp duty exemption as they are removing it from 25th March

Is this true ? How hard do they want to make buying a house for ftb ?

Ben G

Member

Registered: 12th Jan 07
Location: Essex
User status: Offline

19th Feb 12 at 14:32

wasnt very effective according to the government. saved ftb's approx £330 million.

what he means if they want more money so need to axe it.

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

19th Feb 12 at 16:23

quote:
Originally posted by baza31

quote:
Originally posted by whitter45

quote:
Originally posted by liam-corsa-1400
http://www.rightmove.co.uk/property-for-sale/property-32343898.html?premiumA=true

hear is one of the homes we have been looking at what do people think pros and cons would you say

looks excellent - first time buyer or do you have property already

First time buyer you will probably miss out on stamp duty exemption as they are removing it from 25th March

[Edited on 16-02-2012 by whitter45]
First time buyer you will probably miss out on stamp duty exemption as they are removing it from 25th March

I think it still applies if under 125k. But the rule that's being removed was for any house for a first time buyer

Is this true ? How hard do they want to make buying a house for ftb ?

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

21st Feb 12 at 14:15

viewed a few houses over the weekend from the list above the 4 bed looks good in the pics but when you are there its really not much house for the price

the otheres are a little bigger better value and might get a little extra on a morgage to get some bits qand do the house the way we want.

a few new builds have just finished being done in the area and going to have a look at the weekend to see what they are like but still not commiting 100% ti anything yet

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

21st Feb 12 at 14:40

best way - take your time. Huge decision buying your first house

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

21st Feb 12 at 16:08

ya dont wanna rush into a house that we might later regret

John

Member

Registered: 30th Jun 03
User status: Offline

21st Feb 12 at 18:11

You can't just get 'a little bit extra' on the mortgage.

Liam-Wilko

Member

Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline

22nd Feb 12 at 10:50

how do people manage to get a hous for £100k but get a £120K morgage?

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

22nd Feb 12 at 11:07

quote:
Originally posted by liam-corsa-1400
how do people manage to get a hous for £100k but get a £120K morgage?

dont think you can do that now - otherwise how would your lender recover the money if you couldn't afford to repay it

Only way I could see that happening is if the house was under valued

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Feb 12 at 11:13

quote:
Originally posted by liam-corsa-1400
how do people manage to get a hous for £100k but get a £120K morgage?

They won't do that any more, you are basically suggesting something like a 110% LTV mortgage.

Say you bought a house worth £100k, borrowed £110k, spent £10k on furniture, then 6 months down the line you lost your job and they had to repossess the house.

Even if they got £100k for the house, they are still down £10k.

John

Member

Registered: 30th Jun 03
User status: Offline

22nd Feb 12 at 11:20

I'm calling shenanigans.

Terrible literacy was the first clue, second was working for HMRC but not being able to work out simple figures.

Next is he's on 18k a year and looking at 190k mortgage with a bit extra for doing up the house.