JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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i recently purchased house buying for dummies but its all about america and there system so alot isnt relevant.
can anyone recommend a book which has the relevant british law and talks you through the mortgage system
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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You don't need to know law.
You've had an offer accepted, you instruct a solicitor to sort out the legals.
At the same time you find whatever mortgage deal you want, get an agreement and valuation sorted out. Tell the solicitor who your mortgage company is, they do the rest.
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stuartmitchell
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Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
User status: Offline
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Put simply:
1) See Mortage Advisor (find out how much you can borrow) and get an agreement in principle
2) House hunting - select home you wish to put an offer in on
3) instruct solicitor to handle negotiations on said purchase and handle paperwork, missives etc
This is in Scotland though, I think it's a wee bit different in England?
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John
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Registered: 30th Jun 03
User status: Offline
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You need access to google, not a book.
Most of it ends up not being that complicated though.
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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i want to know the ins and outs of stamp duty and the other items that arise.
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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first time buyer no stamp duty under 250k
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ed
Member
Registered: 10th Sep 03
User status: Offline
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There's a downloadable book on http://www.moneysavingexpert.com/ with lots of good info for first time buyers. Think it's under the mortgages section 
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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Cheers Ed
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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quote:
Originally posted by VrsTurbo
first time buyer no stamp duty under 250k
only until march 2012 and im prob gunna be buying in the summer 2012
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John
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Registered: 30th Jun 03
User status: Offline
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Just work out how much extra it would cost you to wait 3 months then.
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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i dont understand the thresholds and how stamp duty is calculated. im looking at a house of between 110-140k
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John
Member
Registered: 30th Jun 03
User status: Offline
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http://lmgtfy.com/?q=stamp+duty+first+time+buyers+2012
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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TBH 1% is not going to make or break the deal - your looking at 1400 maximum
You will find you could negotiate that off the purchase easily plus a load more being a first time buyer
Has bigger impact at 3% as a minimum of 7.5k extra you need to budget for
[Edited on 03-11-2011 by whitter45]
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