The FTB club

babaganoosh

I'm a born again FTB - did have buy a house years ago with ex, then he bought me out when we split up. Used money to pay off debts.
Now buying again with much better bf. We are just waiting for contracts to be exchange. Just got to go shopping for the bits and bobs we need. Family have helped out alot with furnishings and vendors leaving some furniture behind - all helps.
The actually process so far has gone smoothly since our offer was accepted. Our main stress was the lying estate agent so we went to the vendors direct in the end.
Good luck everyone.

dogbot

the abbey were superfast in issuing our mortgage too which helped.

You are lucky, they are being super slow with us! That said, once they had finaly decided to book the survey on Monday, it should have been done on Wednesday... now just waiting for the results as everything else is good to go!

dogbot

Good news for us, the survey came in the post today to us, the solicitor and our IFA (so it actualy would have been with us on Saturday or even friday if posties had not been on strike!). All clear and market value at the ageed offer price. The solicitor is checking everything again and then requesting the dates to exchange and complete, should be about a week to exchange touch wood!

kibs88

Hi, can I join?

Well me and my partner are FTB both 22 :-) im still @ uni so just him going down on the mortgage, we have a 40% deposit and have lost out on a house already this year and have finally found another.

Our offer has been accepted on a 3 bed semi (repossession) and i was just wondering how long each stage took for everyone else who has bought a repo?? at the moment we are waiting for our offer and have paid for valuation so that is being arranged @ the mo.....our offer was accepted last thursday.

Have found out today that they are telling people that ring up for a viewing that a sale is going through which is good news as I know the company have to get the most for it....at least this may put some people off.

Any stories or advice would be much appreciated :-)

suisidevw

You have to complete within 28 days amirite?

kibs88

We have to exchange in 28days which is the 15th July

before_hollywood

kibs88 wrote: »

Hi, can I join?

Well me and my partner are FTB both 22 :-) im still @ uni so just him going down on the mortgage, we have a 40% deposit and have lost out on a house already this year and have finally found another.

Our offer has been accepted on a 3 bed semi (repossession) and i was just wondering how long each stage took for everyone else who has bought a repo?? at the moment we are waiting for our offer and have paid for valuation so that is being arranged @ the mo.....our offer was accepted last thursday.

Have found out today that they are telling people that ring up for a viewing that a sale is going through which is good news as I know the company have to get the most for it....at least this may put some people off.

Any stories or advice would be much appreciated :-)

ooh ooh can i answer?????

i bought a 3 bed ex council town house earlier this year, i put in an offer and was told it was very close to another offer that was made, (i offered 68k, which is not a huge amount for round here) and then upped it to 70,100 (which was £150 over asking price) and got accepted. i had started doing mortgage things for another place at a similar price and it turned out i was being offered rubbish rates by a well known bank compared to other stuff available, i only found out through the mortgage advisor through the e.a

offer being submitted to completion was 22 days and that included easter bank holiday, the top lender on price was also the quickest for this sort of situation, i think it was foxtons that were selling it and sold it through another chain cos they dont sell up north themselves. make sure you have a solicitor that knows reposessions well and is aware to not hang around, i had a deal with mine that because i work 1 mile from their office if they need something doing rather than send it out and wait for me to send it back, phone me, i will pick it up and bring it back filled in, they seemed happy with that and it saved me ages

i move in next week as it has been fully modernised if you have any questions pm me

i'm thinking of doing a ftb diary lol

kibs88

Oh thats good for you!

Im just really anxious that we arent going to be able to complete in time, i dont see any reason why not but thats just me worrying.

Its helpful that the EA is telling people that there is a sale going through (may put people off viewing it, well those with morals), that makes me feel a little bit better.

But until I get those keys i will not be able to sleep lol

I totally agree you should do a diary specifically because there isn't much on here for FTB buying a repo! so that would be really helpful!! I would definitely be a reader lol

happytails

Sooooooooooo gutted. Words cannot describe!

WE have found the perfect house, to live in for 10-15yrs at our price range (under £100k), we have a Mortgage AIP and the house we like is up for £93k, we offered 90k - generous i thought - but no, they rejected :mad:

The story, a family member has passed and the property passed to a brother and sister. The sister was happy with our offer however the brother wants more £££s - i am gutted. I would pay the asking price, its worth it for us, we need a family home, our daughter is 4 months and we are all cramped in my mums back bedroom, it ticks all the boxes

If i offered the asking price (3k more than my offer) can i have a clause (dont think thats the right word?) that says something on the lines of, the furniture and fittings already in the house are to also be sold with the house (cooker, wardrobes, dining table etc etc) - we would be moving in with a bed and a washer/dryer so could do with the furniture - would this be ok?

Thanks
Sarah x

Conel

Hi everyone, can I join in?

Can I say it is so nice to read so many positive outcomes so this might bring the thread down but here is our story...

Both FTBs in our mid twenties.

We originally had a mortgage agreed in principle with a mortgage broker, so all ok. Offered on a house in the end at 190k on a 200k asking price (worked our way up from 180k - a long story of how this went!!). The vendor wants 5k off asking but we did not think this was worth it....so we walked. (this was beginning of May and it is still not sold). We then were called by the EA financial advisors to inform us that if we paid the extra 5k it would only be £x more in mortgage payments. We told them this was never our concern, our problem was that we were in a falling market and the vendors hadn't even started looking for a place yet. He started admitting that this would get better before it got worst to which I rounded off the conversation with "and that is why we are not offering more". Not much he could say after that.

Anyways saw another house up for 215k but needed alot of work, so we went in at 195k to be told that he wouldn't even pass that on to the Vendor as she wanted a few k under asking....so she can ask all she want, it isn't worth it when a house along the same round was 5k more but nothing needed doing to it. Again, still not sold.

Anyways we saw a house we both loved, offered 210k and it was accepted but he would not take it off the market until the survey was done but would suspend all viewings (with both EAs as it was on with 2) Called our mortgage advisor and was told our mortgage was no longer valid as our lender would no longer pay his fee and was withdrawn for FAs to arrange. So we applied directly (as it was now online only), got the agreement in principle and just had to wait for the application to come through the post. Anyways the day it came through (a week to the day the offer was accepted) we get a call from our EA saying our Vendor had accepted another offer from the other EA as the survey was done and they had a mortgage offer in front of them. Now our EA knows these buyers and they originally did not have the finance (or enough) but have not magiced up 15k?!? I think I can guess as this was from the EA who had their financial advisor call us up earlier in the month and he mentioned something of a "dodgy way" of getting a 15% deposit by a vendor gift (or something like that)....so I think it has something to do with that and the EA has dodged something. So we went back with asking price and the vendor said no as he has commited to the other buyer now (forgetting he had already commited to us!).

So it just seems once we have cleared one obstacle another one is put in front of us :-(

Sorry to go on! Please tell me their is light at the end of the tunnel.