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Originally posted by Kyle T
Just a bit of an update:

I've basically used all of the resources recommended by Redrow i.e Mortgage adviser and solicitor.

The Mortgage adviser found me a mortgage in about 10minutes over the phone, took my details and applied for me - it got accepted, and redrow are paying the £300 fee to the adviser.

I then reserved the property, this cost me a £500 reservation fee however this fee can go towards the 15% interest free loan payoff.

I also contacted the recommended solicitor, who will charge £630 including VAT to sort out all the elements of the purchase.

I've got until the 7th of April to get the contract for the mortgage sorted out if I want to keep my £500 and reserved property, if that gets sorted ontime, i'll be moving in June



Considering 10 days ago I wasn't even THINKING of buying a place, i've now handed cash over and am past the point or no return.

Scarily easy and straight forward

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quote:

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Originally posted by Kyle T
I'd only saved up £4000.

I could have dumped it all into a deposit I suppose but I'd have really struggled to pay the various fee's involved in buying a home - so I took a 100% mortgage and can pay all of the fee's upfront, any money left over will go straight into paying off the 15% interest free loan that redrow have provided me.

I've then got the next couple of months to spend my money on basic furnishings and stuff

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quote:

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Originally posted by Ian W

quote:

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Originally posted by Kyle T
I'd only saved up £4000.

I could have dumped it all into a deposit I suppose but I'd have really struggled to pay the various fee's involved in buying a home - so I took a 100% mortgage and can pay all of the fee's upfront, any money left over will go straight into paying off the 15% interest free loan that redrow have provided me.

I've then got the next couple of months to spend my money on basic furnishings and stuff

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Thats what I have planned to do, save up a few grand and use it for all the stuff at the start.

Was hoping you weren't gonna say 10 k or something, I have no will power to save

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Originally posted by BlueCorsa
It's the fees and expenses that kill you:

£800 solicitors fees
£2000 stamp duty
£900 removal company

Then if you have to pay mortgage arrangement fees for their kickback, and furniture, mail redirection, etc.

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Originally posted by Doug
So is it all final now?

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quote:

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Originally posted by BlueCorsa
It's the fees and expenses that kill you:

£800 solicitors fees
£2000 stamp duty
£900 removal company

Then if you have to pay mortgage arrangement fees for their kickback, and furniture, mail redirection, etc.

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quote:

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Originally posted by Kyle T

quote:

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Originally posted by Doug
So is it all final now?

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Yeah past the point of no return now

Sitting on my hands at the minute while solicitors/lenders/advisors pass all my documents around confirming my identity/earnings etc.

Looking forward to it though - with all the hand me downs and donations ive got I've only got to buy a TV, fridgefreezer, bed and carpets

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quote:

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Originally posted by Kyle T

Anyone know of somewhere with a good range of sofa beds that would provide adequate seating in the front room (ie you can't tell its a sofa-bed) but when mates come round I can pull it out and they can sleep on it ( )

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quote:

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Originally posted by Colin

quote:

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Originally posted by BlueCorsa
It's the fees and expenses that kill you:

£800 solicitors fees
£2000 stamp duty
£900 removal company

Then if you have to pay mortgage arrangement fees for their kickback, and furniture, mail redirection, etc.

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What.............the.............

My fees were more like £450
Stamp duty is only like 1% if property is over 120k
Removal cost = £40 to rent a van from Arnold Clark

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