gwil0283
Member
Registered: 16th May 03
User status: Offline
|
Right ive seen this flat i want
http://www.fish4.co.uk/ls/triiclvrpl/homes/advert?adId=18152298&sid=s51F161006287778&pos=10&src=search&tot=79
heres the link,
now i dont have a clue what to do who do i speak to to see if i can afford it ?
how much deposit will i need ?
|
Daimo B
Member
Registered: 20th Mar 00
User status: Offline
|
You need to speak to a financial advisor.
They will asses what you earn, what you owe, what you can afford, and give you a guideline on what you can afford.
Generally, its usually a 5-10% deposit.
Tip: Leave yourselve money to be able to live. No point in owning a property if you can't afford to live in it, or go out and enjoy your life still. Its nice having your own place, but don't cut your life to own one.
|
BYRON
Member
Registered: 1st Jun 04
User status: Offline
|
£54k WTF. Daimo has covered your first steps...
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
there 54k because there only 50% owner ship. Looks really nice that tho
Adult GiftsClick here to vist us
|
gwil0283
Member
Registered: 16th May 03
User status: Offline
|
yes 54k for 50% pay rent on the other half i assume.
where do i find a financial advisor ?
sorry i dont really have a clue when it comes to this dont really know what one is even.
Also are they going to charge me loads just to speak to them ?
|
BYRON
Member
Registered: 1st Jun 04
User status: Offline
|
ANy highstreet bank, most estate agents on the high street or an independant financial specialist from yellow pages etc
|
gwil0283
Member
Registered: 16th May 03
User status: Offline
|
so just go into my bank (HSBC) and ask to speak to a financial advisor
|
BigSte
Member
Registered: 27th Aug 02
Location: Sheffield
User status: Offline
|
yes
|
Daimo B
Member
Registered: 20th Mar 00
User status: Offline
|
Yeah, you can speak to more than one, but just pop into your bank to get an IDEA of what you can and cannot do.
|
Dean_W
Member
Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
|
quote:
Originally posted by gwil0283
so just go into my bank (HSBC) and ask to speak to a financial advisor
If it's shared ownership, you also need to see if you are eligible to live there. Thats what I had to do with mine.
Then make sure you are not earning too much money, too little money, have no debts etc.
Then once that is cleared you can put in an offer. So, you need to find which association owns the other half.
|
MikeE
Member
Registered: 7th Mar 03
Location: Milton Keynes
User status: Offline
|
as Dean said just been through all that myself
|
BYRON
Member
Registered: 1st Jun 04
User status: Offline
|
On the shared ownership schemes you tend to be tied into their own nominated advisor and mortgage lenders.
Find out who it is being offered by (housing association) and speak to them before you go off to talk with lenders that maybe cant help you.
|
Dean_W
Member
Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
|
Byron, that depends. I could go with who I wanted.
The only catch is, fewer companies mortgage shared ownership properties.
|
BYRON
Member
Registered: 1st Jun 04
User status: Offline
|
quote:
Originally posted by Dean_W
Byron, that depends. I could go with who I wanted.
The only catch is, fewer companies mortgage shared ownership properties.
Different associations, different schemes...just putting down my dealings locally here in Hampshire
|
