mortgage query

Discussion in 'benefits and housing' started by Hellsbells, Oct 26, 2017.

  1. MickiQ

    MickiQ Well-Known Member

    There are however no words to describe how good it feels when you hand over the last one.
    StoneRoad and cupid_stunt like this.
  2. Hellsbells

    Hellsbells World's best procrastinator

    We moved in on Saturday :cool::) Everything going great so far. It's a lovely house.

    Slight issue with one of the neighbours (who apparently isn't actually a neighbour but a visiting landlord). Had a bit of an argument with him over a parking spot (despite it being unallocated parking and him not actually living on the street!) And then he wandered through our back garden and into our kitchen to apologise which we were a bit taken aback by. :eek:

    Had no problems since Sunday though so think he's gone.
    miss direct, hash tag and cupid_stunt like this.
  3. hash tag

    hash tag Pedicabo omnes

    Hellsbells and cupid_stunt like this.
  4. Hellsbells

    Hellsbells World's best procrastinator

    Thanks for thinking of me :)

    The house itself is lovely, no complaints there. The issues we have are with the garden which is very overlooked & neighbours. We were sat out in the garden last Sunday enjoying the sun when the neighbour 2 houses down came out and started grilling us on where we were from and what we did. When he discovered we weren't Manx, he went off on a rant about people coming over here taking local's jobs and houses and how good it was that people couldn't go straight onto benefits until they've been here 5 years. His parting words as his wife called him in the house were 'good luck. Suggest you learn some Manx' - as if to say we're really going to struggle to fit in here. We've never encountered an attitude like that since we moved here and were quite taken aback. It's stopped us wanting to go out into the garden now in case he's out there again.
  5. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    Don't let the bastard grind you down, fuck him. :thumbs:

    There's always one, when I lived in Somerset, a gay couple took over the local village pub & seriously turned it around, created a great atmosphere, people were happy, especially those born and bred in Somerset, no issues with them at all.

    Then there was this blow in from London, who approached me with a petition he had just started against them, no signatures on it at this point. His attitude was that he had moved away from London to escape such people. :mad:

    I asked him who he was going to present the petition too, considering it was a free house & they had brought it, that stumped him! :facepalm:

    I went straight to Tom & Michael and told them, and he was banned. :D

    The moral of this story, get to know your other neighbours & ignore 'the one'. :)
    1927 and Hellsbells like this.
  6. Teaboy

    Teaboy It definitely looks brighter over there..

    Island mentality sadly.
  7. Hellsbells

    Hellsbells World's best procrastinator

    It's not really. Well, just a very small minority. I know alot of Manx people and none of them have attitudes like this guy.
    miss direct and cupid_stunt like this.
  8. Teaboy

    Teaboy It definitely looks brighter over there..

    Of course most people are decent but Island mentality is a well known thing.

    I remember being on the IoM back in the late 90's and thinking a few people were acting a bit off with us, we then found a couple of Irish lads working behind a bar and asked them and they said "yeah, they're like that with us as well".

    Encountered it on the Isle of Shite as well. I was working for a company and our sales on the Island were rubbish so we decided to employ someone from the Island to work there for us. I spent a day with her when she first started visiting customers, the very first question from every person we met "So, you from the Island?".

    Just the way it is, lets face it we British are an Island race with an Island mentality and you don't have to look far to see that.

    Begs the question though, if neither of you are from the Island why did you move there? Was it the weather?
  9. Hellsbells

    Hellsbells World's best procrastinator

    My partner was offered a job here that was a really good opportunity for him.
    Teaboy likes this.
  10. miss direct

    miss direct misfungled

    What a nosy old sod. Stick a fence up and blank him if you see him again.

    I bet all the other neighbours dislike him too.
    Teaboy and cupid_stunt like this.
  11. Hellsbells

    Hellsbells World's best procrastinator

    Thankfully he also told us he regularly goes on long holidays and is off to Majorca in a few weeks and then Ibiza after that
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  12. miss direct

    miss direct misfungled

    Hope he speaks fluent Spanish!
    Callie likes this.
  13. Teaboy

    Teaboy It definitely looks brighter over there..

    Yeah right. It was the weather wasn't it...?

    Hellsbells likes this.
  14. Supine

    Supine Rough Like Badger

    How do you say twat in Manx?

    Wikipedia suggests Manx is a virtually dead language.
    Hellsbells likes this.
  15. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    Well I never imagined I'd be posting on this thread, but here I fucking am :thumbs:
    Could anyone give me any pointers as to what 'offers in excess of' means, realistically? :hmm:
    It's offers in excess of £205,000, specifically and we have very little to work with.
    RubyToogood and cupid_stunt like this.
  16. Supine

    Supine Rough Like Badger

    It means fuck all. If you want the place your in competition with unknown parties. I'd start at 185k and I'd talk to the agent to see what others are doing.
    mauvais, Plumdaff and Leafster like this.
  17. Leafster

    Leafster From the FRow

    Like Supine says, it often means nothing. Check what other similar nearby properties have sold for (if you haven't already) and then put in what you think is reasonable regardless of any figure quoted by the agents. They may bluster a bit if it's significantly less but they will pass on your offer anyway.
  18. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    It actually seems fairly reasonably priced and it's really right down at the bottom, price wise, in terms of what's available - but the location isn't great (awkward to get to/from on public transport, depending on where you need to go), it defo needs updating :D but that's not a problem if it's mostly cosmetic and it has a private garden but it's accessed to the side, so you have to go back out the front door and round, so it's *odd* at least.

    Also, this is a house conversion (first floor flat in a two flat house) and the mortgage agreement I just got was based on a purpose built flat (one of four in a two storey, purpose built block) - which was literally sold STC, while I was on the phone (this is just one more in a long strand of hilariously shit timing/bad luck events that have happened), so i dunno if that would have implications on the suggested max mortgage? :confused:

    We have also been living on fuck all for a while now and our rent is going up by £350 in a few DAYS time, so we don't have the time to wait it out either, really.

    Meh - although I'm still counting every blessing and today's proposed mortgage offer is enough to make a difference between managing it, or *just* not, so at the same time I don't want to feel pressured into making any silly offers but I do have to pay attention to the rest of it, too.
  19. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    Also, it was only added yesterday, so where it doesn't look over priced based on the research I've done, I wouldn't want to lose it either. Realistically, I can't afford to play the game.
  20. Edie

    Edie Well-Known Member

    Is it going to closed bids? Or just offers in excess of?
    If you really want it, and it’s realistically priced, then I’d just put an offer in at 205. If it’s accepted, get a mortgage in principle quickly, and get the vendor to agree to take it off the market as soon as it is.

    If that isn’t accepted, and near the top you can afford, then I’d wait a few weeks to see if there’s more interest. If there aren’t further offers, you might get it for that or close to. If there are, well you go up as much as you can/think it’s worth.

    Are you SURE it’s what you want? Xx
  21. Edie

    Edie Well-Known Member

    This is a long game tho mate. Even a straight forward, no chain sale takes months (2 minimum). And you mightn’t get the first place you want. It’s a dirty business really.
    cupid_stunt likes this.
  22. hash tag

    hash tag Pedicabo omnes

    Offers in excess could mean Someone is chancing their arm.
    as for conversions, it depends on the quality of the conversion and the term of the lease.
  23. Edie

    Edie Well-Known Member

    Offers in excess usually mean a brisk market, and a property placed at the lower end of its market value, usually wanting a quicker sale too.
  24. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    It's just 'offers in excess' but looks realistically priced, possibly under. *sigh*
    It's defo not what I want in an ideal world, mainly because of the location, but it looks great in terms of space (we can only barely afford a two bed between the three of us, so the layout is good - we can have a room each - but my daughter and I will have an hour on buses, each way and I worry about the impact that'll have on her to see her friends). I don't have the luxury of time to sit and wait though.
    My boy - my 18 year old - would be entering into this mortgage with me and our rent is increasing by £350 a month in five days time, so our hefty deposit (the money my mum left me while she quite fucking correctly refused to buy our own council flat, over her own 45 year tenancy) would reduce quickly.

    If we buy and move, we'll already be saving a minimum of £300 a month, so I'm pretty much viewing it like that now cos we're more fucked later even if we move to a different private rental now.
    Literally the only thing I want is to be able to offer my children (well, one at a time anyway :D ) a secure home - and myself too, tbf.
  25. Edie

    Edie Well-Known Member

    I totally understand you, and thinking about it with some stone cold rational thinking rather than “it’s my forever home dream place” is right. If it’s gonna save you money off renting, then go for it. You can sell and move in 5 years or whatever.

    My personal opinion is that location is the most important thing. If you can be near mates and work then I’d prioritise that if that’s possible mate. Eg an ex council house or flat up the road is probs better than a bigger, ‘nicer’ property away.

    Beware leasehold properties. Read the lease very carefully. Find out how long it’s got on it. Find out about service charges, and exactly what they cover and what your liable for if building repairs are required. A freehold vs a leasehold then get freehold every time.

    I know you’re feeling time pressured, but better to spend a few months looking now than rush into this. Good luck sweetheart, I so hope you get your security.
  26. mauvais

    mauvais change has become unavoidable

    It took us four months from offer to completion with only one step in the chain. Also bear in mind that since this is your first house, you're saving £1,600 in stamp duty (assuming £205k), and if you bought hastily and then moved again you'd have to pay that for the next property. Not necessarily major, just something to think about.

    OIEO doesn't mean anything per se. They may have set a higher target price, but if noone credible bids that, they may settle for less. You kind of need to miss out on a few properties to gauge the market. Round here an agent has cornered the market and everything goes significantly above ask.

    I take it you've fully explored your mortgage possibilities and how much you can realistically borrow?
  27. mauvais

    mauvais change has become unavoidable

    It's good advice but you won't get freehold on a flat.
  28. Edie

    Edie Well-Known Member

  29. colacubes

    colacubes Well-Known Member

    This is true but you might get share of freehold.
    cupid_stunt likes this.
  30. hash tag

    hash tag Pedicabo omnes

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