John
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Registered: 30th Jun 03
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I said a month, which as far as I'm aware is realistic depending on terms?
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Ian W
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Registered: 8th Nov 03
Location: Wirral, Merseyside
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But at the same time, if I want to move I give my month notice and i'm out and moved.
No selling, no waiting for the right price etc.
Swings and roundabouts really.
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John
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Registered: 30th Jun 03
User status: Offline
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Being thrown out is slightly different than not being able to sell in a hurry.
Different strokes for different folks as always.
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Blade_sri
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Registered: 23rd Apr 03
Location: Pop
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little update
we cant buy the house, we have 5% to put down but no lenders out there can do our wages, nationwide were our only one and there pulled out yeserday and need 10% on old houses or 5% on new builds!
so we are packing up and moving to another rented place. getting sick of it to be honest as its never your own and always got to ask to do something.
renting has pros and cons. biggest con is there can ask you to move on.
Was speaking to my landlady last night telling he we cant afford it and was almost crying on the phone. Love it here..........
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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I'm happy to rent for a while, looking for a house to rent at the moment. Trick is finding somewhere that's nearly as you want it, spend as little as possible making it to your tastes. I still think there's massive plus points to renting (able to move quickly if you have a change in circumstances, landlord has to fix anything major etc), but ultimately I'll be buying when I am able to 
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Nath
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Registered: 3rd Apr 02
Location: MK
User status: Offline
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quote:
Originally posted by Tom
Trick is finding somewhere that's nearly as you want it, spend as little as possible making it to your tastes. I still think there's massive plus points to renting (able to move quickly if you have a change in circumstances, landlord has to fix anything major etc), but ultimately I'll be buying when I am able to
Echo that. I'd be struggling for the sake of it if I bought and would have to get something smaller than I'd prefer. I'll wait til I earn better wonga before buying so I can get something I'd want to stay in for longer.
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ed
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Registered: 10th Sep 03
User status: Offline
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Why would you put carpets down and 'do' rooms in a house you don't own?
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Blade_sri
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Registered: 23rd Apr 03
Location: Pop
User status: Offline
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quote:
Originally posted by ed
Why would you put carpets down and 'do' rooms in a house you don't own?
It was meant to be long term, and the carpets down were terrible .
Sold my trend mill last night, the women who brought it is renting her house out just up the road from us. So had a look, a lot smaller but ok , so we are going for that, no point hanging around .
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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Simelar thing happened to me, was a riggt pita.
Rent off a friend now so if owt needs doing I just tell him while were in the pub. Winner!
Too much mortgage snobbery in here. Owning your house isn't the be all of life! Times have changed, its not the 20th centuary anymore.
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John
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Registered: 30th Jun 03
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No snobbery, just people with differing points of view, both sides with decent reasons.
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Blade_sri
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Registered: 23rd Apr 03
Location: Pop
User status: Offline
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Went and had a re look at the house. Very small for us, can't even fit a table in! Need a table for the kids!
Every room needs painting unless we live in a yellow and salmon colour!
Very sick now
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by Nath
quote:
Originally posted by Tom
Trick is finding somewhere that's nearly as you want it, spend as little as possible making it to your tastes. I still think there's massive plus points to renting (able to move quickly if you have a change in circumstances, landlord has to fix anything major etc), but ultimately I'll be buying when I am able to
Echo that. I'd be struggling for the sake of it if I bought and would have to get something smaller than I'd prefer. I'll wait til I earn better wonga before buying so I can get something I'd want to stay in for longer.
Same really, would rather live somewhere decent for the time being so renting is the best option for now. Going to need to start earning more money though if I ever want to buy with a kid on the way 
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ed
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Registered: 10th Sep 03
User status: Offline
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Bit of advice for the OP (I suppose). Have a look to see if there are any new developments anywhere near where you want to live - there will be decent houses which you can buy an 80% share of with a 5% deposit. Makes it far more affordable and your money's going somewhere a bit more useful. The option's then there to either sell up and take your money or to buy the rest of the house when you're doing a bit better for yourself in the future.
[Edited on 03-05-2012 by ed]
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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There are also schemes going now where you rent the new build for 5 years, after the 5 years they put up the deposit for the house from the rent you've paid. You then mortgage the house and iys yours.
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Blade_sri
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Registered: 23rd Apr 03
Location: Pop
User status: Offline
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Had a look at that, rent was 600 and then you save 250 from it so its 850! Too dear for me
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John
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Registered: 30th Jun 03
User status: Offline
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£850 a month is a 160k mortgage.
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whitter45
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Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by John
£850 a month is a 160k mortgage.
possibly - but to get that he would need at least 10% deposit (minimum I would say) based on lending rules and rates
Therefore need at least 16k before fees and stamp duty so more like 20k which i am assuming they haven't got
Its all very good quoting monthly payments but its the initial outlay that is the deal breaker
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AndyKent
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Registered: 3rd Sep 05
User status: Offline
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quote:
Originally posted by ed
Bit of advice for the OP (I suppose). Have a look to see if there are any new developments anywhere near where you want to live - there will be decent houses which you can buy an 80% share of with a 5% deposit. Makes it far more affordable and your money's going somewhere a bit more useful. The option's then there to either sell up and take your money or to buy the rest of the house when you're doing a bit better for yourself in the future.
[Edited on 03-05-2012 by ed]
Hate these schemes with a passion - a quick and easy way for developers to hold prices artificially high.
If they wanted to make them truly affordable they'd drop the price, which is what a normal market would force to happen.
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
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quote:
Originally posted by whitter45
quote:
Originally posted by John
£850 a month is a 160k mortgage.
possibly - but to get that he would need at least 10% deposit (minimum I would say) based on lending rules and rates
Therefore need at least 16k before fees and stamp duty so more like 20k which i am assuming they haven't got
Its all very good quoting monthly payments but its the initial outlay that is the deal breaker
That's exactly the problem nowadays, how many people can realistically save £20-£30k whilst still leading a fairly normal life.
I've always been against renting, but the more I looked into it the more I saw the pros of it. Some may see it as dead money but I don't anymore, it's a learning curve, breaking you into house ownership without any hidden costs. You know exactly what it's going to cost you each month. Something breaks someone else fixes it. That's something you can't really put a price on if you are on a budget.
I will get my own place but I didn't really wanna jump straight into a mortgage with my missus as we might wanna strangle each other 4 months down the line, so renting is easy to walk away from, another plus point.
I see the pros/cons of both, to have the deposit for my own place I'd have to sell my car which is my hobby, I know most of my friends through cars etc so this way I can keep the car whilst still living in my own place, it's a winner in my eyes. I can't wait!
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whitter45
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Registered: 15th Nov 02
Location: Norton
User status: Offline
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i think with renting the lower you can pay each month the better and save the difference towards a depsosit
However everyone is different
Renting is not going to go away any time and the trouble is with the current ecomonic climate, renting is ever more popular meaning landlords can up their prices due to demand
I am surprised the landlord in this case is wanting to sell
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
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I am looking at paying the same for rent, bills & shopping as my mortgage would be on a house I would want to live in so yeah kind of going with what you said I wouldn't want to pay as high a rent as I would a mortgage
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Blade_sri
Member
Registered: 23rd Apr 03
Location: Pop
User status: Offline
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well,
our mortgage adviser told us of a way we "could" get a mortgage.
Only place that will do it is the halifax, we filled out the form last night for him to put it in. we have to say we dont have any kids, move my wifes account into mine asap so there dont see any child benfit going in. He is also going to come with us if it passes to answer questionsso we dont trip up.
trouble is im not happy with it, its fraud for one, what happends in 3 years time when we try to get a diffrent deal? kid wise?
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Colin
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Registered: 4th Apr 02
User status: Offline
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I know someone that had some fake pay slips made up to get accepted on a mortgage.  I guess the only person your kidding is yourself really.
Made me laugh a bit all the people justifying renting because you get things fixed when they break.......I've been a home owner for 7yrs now and not once had a White good or boiler break down on me
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by Blade_sri
well,
our mortgage adviser told us of a way we "could" get a mortgage.
Only place that will do it is the halifax, we filled out the form last night for him to put it in. we have to say we dont have any kids, move my wifes account into mine asap so there dont see any child benfit going in. He is also going to come with us if it passes to answer questionsso we dont trip up.
trouble is im not happy with it, its fraud for one, what happends in 3 years time when we try to get a diffrent deal? kid wise?
Halifax seem to be quite flippant when coming to mortgages
you cant use the kid argument for the future - the lending is based on your current situation when you apply for a mortgage
i.e if you decide to have kids in 12 months time and you cant afford it then that your choice and you run the risk of losing the house and anything secured against it.
I wouldn't be happy putting forward false claims about child benefits in other accounts and your solicitor will ask for bank statements to prove where your deposit comes from - legal requirement for fraud
But if it works for you good luck
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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quote:
Originally posted by Blade_sri
well,
our mortgage adviser told us of a way we "could" get a mortgage.
Only place that will do it is the halifax, we filled out the form last night for him to put it in. we have to say we dont have any kids, move my wifes account into mine asap so there dont see any child benfit going in. He is also going to come with us if it passes to answer questionsso we dont trip up.
trouble is im not happy with it, its fraud for one, what happends in 3 years time when we try to get a diffrent deal? kid wise?
WTF kind of professional advisor suggests fraud is the only way forward.
Utter joke. Or not a professional advisor. Guessing the latter.
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