Lynny
Member
Registered: 3rd Jan 03
Location: oop north! Where people talk properly
User status: Offline
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Recieved a phonecall this afternoon to say I've had my mortgage request accepted on a new build, just been to sign all the paperwork and been given a completion date for end of April 
Paying 10% deposit, can't remember exact rate but paying around £330 per month repayement mortgage. New 2bed house, but a decent size.
Over the moon, time to start shopping 
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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£330 a month mortgage? Bloody good that 
Would love a new build 
Congrats!
[Edited on 07-03-2011 by Whittie]
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AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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330 a month repayment
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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must have got that repayment figure wrong!
330 is probably interest only
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John
Member
Registered: 30th Jun 03
User status: Offline
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That or it's some shared ownership scheme.
Have you not done this same thing recently Lynny?
quote:
Originally posted by Lynny
£79,999 house
£6,000 deposit
£338 per month mortgage
Firgures from other thread.
That sounds like 75/25 which will give a mortgage of 54k and then some way of them making the money back on the other 25%, I hope you done your research, loads of people getting stung with they deals now when trying to move.
[Edited on 07-03-2011 by John]
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Jake
Member
Registered: 24th Jan 05
User status: Offline
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ooo new build 
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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And she's a Key Worker, if that makes any difference.
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AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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what the hell is a key worker?
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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Police/Nurse/Fireman etc... there are schemes to make home buying easier, but not sure what that includes though. Some properties are Key Worker only and are cheaper.
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AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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eh?
Why should they get houses more easily?
They need us lot to give them jobs 
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Ryan
Member
Registered: 23rd Jun 08
User status: Offline
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Yea...cunts!
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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quote:
Originally posted by AK
eh?
Why should they get houses more easily?
They need us lot to give them jobs
I didn't create the scheme so I have no idea
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Lynny
Member
Registered: 3rd Jan 03
Location: oop north! Where people talk properly
User status: Offline
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Occupation didn't come into it, yea it's a repayment, and yeah its the govt. scheme 75/25% thing. Aye looked into it all fully before signing
Sooooo excited Joys of houses being cheaper up north!
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Shared equity or ownership?
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Lynny
Member
Registered: 3rd Jan 03
Location: oop north! Where people talk properly
User status: Offline
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Full ownership of the house, take out mortgage for 75%, other 25% deferred for 5 years. Fixed rate mortgage until then
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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I see.
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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quote:
Originally posted by Lynny
Full ownership of the house, take out mortgage for 75%, other 25% deferred for 5 years. Fixed rate mortgage until then
Sounds good.
What area is it in?
New build tho
Prepare to get the plasterers in after a few years when it settles and the plaster cracks
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Lynny
Member
Registered: 3rd Jan 03
Location: oop north! Where people talk properly
User status: Offline
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I'm about 20 mins from Durham, same area I'm living in at the minute. Yeah moved into a new build a year ago and it's horrendous already, luckily good mate of mine is a plasterer and takes payment in beer
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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dont new builds get a 12 month builders warranty thing?
ours is new build and we had them back before the 12 months was up to fix everything, well i say everything there was only a couple of cracks round the windows
dunno if it makes a difference but house was built in march we moved in start of june so was stood empty for 3 months
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AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
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that is a really low repayment, I'm on a scheme that's pretty much the same and paying £416 a month.
Deffo get them back in if anything needs doing, I had a new cupboard door, some paintwork and a new window may as well you're paying for it.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Nath
Police/Nurse/Fireman etc... there are schemes to make home buying easier, but not sure what that includes though. Some properties are Key Worker only and are cheaper.
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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quote:
Originally posted by Lynny
Full ownership of the house, take out mortgage for 75%, other 25% deferred for 5 years. Fixed rate mortgage until then
Same as mine, but my 20% 'loaned' by the builder is a 10 year repay, linked to the independent valuation of the house at the time of repayment (so god forbid it loses value the builder gets less too, which keeps my share 75%) 
Congrats
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Congrats.
Been in our new build two years now, was built 8 months before that and still no cracks.
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John
Member
Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by dannymccann
quote:
Originally posted by Lynny
Full ownership of the house, take out mortgage for 75%, other 25% deferred for 5 years. Fixed rate mortgage until then
Same as mine, but my 20% 'loaned' by the builder is a 10 year repay, linked to the independent valuation of the house at the time of repayment (so god forbid it loses value the builder gets less too, which keeps my share 75%)
Congrats
I've been reading a lot on MSE about the builders having conditions on selling and it not being quite as easy as that?
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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quote:
Originally posted by loafofbrett
quote:
Originally posted by Nath
Police/Nurse/Fireman etc... there are schemes to make home buying easier, but not sure what that includes though. Some properties are Key Worker only and are cheaper.
Yup.
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