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Hope For All Ftb
TopKat*1
Posts: 92 Forumite
Hi
I just wanted to post a message to all first time buyers out there just to let them know there is hope so be patient. We have just had an offer accepted on a 4 bed detached house 20k under asking price and 40k below what it sold for in 2005 (it is a repo). It has been hard just waiting and waiting, saving and being skint because we were pouring all our cash into our house deposit account but hopefully it will all pay off as we now have what was completely out of our reach only 12 months ago, back then i thought we were never going to own a home as prices were very high. Even if prices continue to fall I feel I have had a bargain and it is the house i wanted.:rotfl::D
I just wanted to post a message to all first time buyers out there just to let them know there is hope so be patient. We have just had an offer accepted on a 4 bed detached house 20k under asking price and 40k below what it sold for in 2005 (it is a repo). It has been hard just waiting and waiting, saving and being skint because we were pouring all our cash into our house deposit account but hopefully it will all pay off as we now have what was completely out of our reach only 12 months ago, back then i thought we were never going to own a home as prices were very high. Even if prices continue to fall I feel I have had a bargain and it is the house i wanted.:rotfl::D
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Comments
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great new mate, i too have bought a repo 3 bed property got my completion date= 20 feb which is 3 weeks overdue from the 28 day contract!! luckly they are still going through with it. problem with us was britannia bs taking so long and messing up the valuation report. hope yours goes ok!!
just to add ours in 2005 was 185,000 (newly built) got it for 140,000 now 3 yrs old0 -
Excellent its nice to know there are others out there that have had a good deal
hope the yorkshire bs dont take too long
Good Luck0 -
just tell them at the very start you have 28 days to complete the purchase or risk loosing the property and keep calling them every couple days to get updates. briatnnia bs were always 2 days behind in work each time i called at the start!!0
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Thanks downs523 I will keep on to them to them to try and speed them up.
What sort of mortgage deal di u end up getting?0 -
My son is a first time buyer. Does anyone know a web site where I can find
houses that are repossesed
Thanks0 -
i dont think there are dedicated sites that list repos for sale, there are auction sites but i dont know them. if you look on rightmove.co.uk and see tape over toilets/sinks/cookers etc there are usually repo's as the utilitys are turned off- gas, water,electric.0
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Thanks downs523 I will keep on to them to them to try and speed them up.
What sort of mortgage deal di u end up getting?
i got britannias 5 yr fixed at 5.69% but its now gone upto 6.49% i think
they still do a 10yr fixed at 5.89% tho. looking at interest rates they are most definatly going to rise in the next couple of years?? just my opinion, not guarenteed, before someone complains! lol0
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