FTB - geek !!! what have we done?

m00

Well Done!

Can I ask which area. We are monitoring like you and can move pretty quick too so will just wait and see.

Prav

Well done and congratulations....this is exactly why the credit crunch can be a good thing for FTBs.

swingjune

We got the keys to our dream house today ........... YIPEEE :j:j:j:j:j

We have a 3-year fixed rate of 5.64% from Halifax.

The lender's valuation report mention that 4-bed detached property prices in that area are between 270k to 285k. I have checked in Rightmove that these are 2006 prices. I'm so, so glad that we have paid way below the valuation price. :T:T:T:T:T

It will be our home for the next 10 years.

******** HOME SWEET HOME **********
:A

PasturesNew

Well done, but you're hardly a "normal" FTB
http://forums.moneysavingexpert.com/showpost.html?p=14493717&postcount=16

That's more money than many people have in a lifetime.

meester

swingjune wrote: »

We got the keys to our dream house today ........... YIPEEE :j:j:j:j:j

We have a 3-year fixed rate of 5.64% from Halifax.

So what is your LTV?

You mentioned having £150k of savings to put down, I assume you haven't put down nearly that much? I imagine anything over 25% LTV is good enough for a decent mortgage. Not sure why you said £300k was beyond your budget with that much of a deposit, I assume you mean the mortgage payments would have been too high?

I'm in a similar situation, but have grander ambitions and a more expensive area to buy in, looking to buy a £750k house for £500k or less.

baileysbattlebus

meester wrote: »

So what is your LTV?

You mentioned having £150k of savings to put down, I assume you haven't put down nearly that much? I imagine anything over 25% LTV is good enough for a decent mortgage. Not sure why you said £300k was beyond your budget with that much of a deposit, I assume you mean the mortgage payments would have been too high?

I'm in a similar situation, but have grander ambitions and a more expensive area to buy in, looking to buy a £750k house for £500k or less.

OP said the mortgage was based on her husband's salary only and LTV is 55%.

OP may not be working or they have decided to use one income for the mortgage, we have always done this, when you have children you never know what is round the corner and one of you might have to give up work, childcare, children's health etc.
We always looked on my salary as a bonus - paid for Xmas, holidays etc, we never used it to calculate what we could borrow and I earned a decent salary.

swingjune

PasturesNew wrote: »

Well done, but you're hardly a "normal" FTB
http://forums.moneysavingexpert.com/showpost.html?p=14493717&postcount=16

That's more money than many people have in a lifetime.

Before I quit my job to become a lady-of-leisure:D, we have a combine income of 80k and we have been working for more than 20 years. We have always been thrifty in our expenses : http://forums.moneysavingexpert.com/showthread.html?t=1129713&highlight=swingjune

We are so determined to save as much as we could, the costs of our wedding is less than 500 quid. I do not have a wedding dress and we did not go for honeymoon. After signing the marriage cert, we invite families, colleagues and friends to our rental for buffet prepared by a family friend.

Finally, the day of turning our savings to brick-and-mortar had arrived and it pays off big time :T

swingjune

baileysbattlebus wrote: »

OP said the mortgage was based on her husband's salary only and LTV is 55%.

OP may not be working

That was it :beer:

Chris2685

Well done. hope i have 150k when I try to buy

Alias_Omega

Well done,

Its exciting isnt it, were in the process of buying a house..