To those selling in these difficult times Part Deux. AKA sellers support network!

WheelieWood

WheelieWood wrote: »

Erk! We've heard nothing back yet but other house now showing as sale agreed

Now confirmed.

Other EA may have been a bit quick off the mark, but viewer has now confirmed they are going for the other house, even though they're paying more for it, as it has all the changes they'd want to make to our house anyway (namely back reception room window replaced with french doors and a large archway knocked through from that room to kitchen).

Ho hum. Felt gutted yesterday. Today, I'm almost relieved just to know for sure.

In subsequent discussions with our EA, we've decided to go ahead and drop 5K on the asking price, which we'd been considering before this viewing happened.

ocalllo

need to vent so i will apologise before hand!!!

our house is not selling so we have just spoken to our mortgage provider about 'consent to let'. From proviouse discussions on here - i expected a £100 (ish) fee and a letter but NO!

they would almost double our rate and add £250 - £300pm on to our mortgage!!!! we can't afford to rent it out now!!!
plus there is huge 'arrangement fee' of £599 or £1249 depending if we went for fixed or tracker!!
explained that we not applying for new mortgage we just want to rent and thought all we need was a letter and a fee for letter - they said no we need to apply for a rate chg as our current mortgage is owner/occupiers!!!

can they do this??????????????????????????? :mad:

Orpheo

ocalllo wrote: »

need to vent so i will apologise before hand!!!

our house is not selling so we have just spoken to our mortgage provider about 'consent to let'. From proviouse discussions on here - i expected a £100 (ish) fee and a letter but NO!

they would almost double our rate and add £250 - £300pm on to our mortgage!!!! we can't afford to rent it out now!!!
plus there is huge 'arrangement fee' of £599 or £1249 depending if we went for fixed or tracker!!
explained that we not applying for new mortgage we just want to rent and thought all we need was a letter and a fee for letter - they said no we need to apply for a rate chg as our current mortgage is owner/occupiers!!!

can they do this??????????????????????????? :mad:

Yes, they can. They have a stake in the property after all.

Blodwen

ocalllo wrote: »

need to vent so i will apologise before hand!!!

our house is not selling so we have just spoken to our mortgage provider about 'consent to let'. From proviouse discussions on here - i expected a £100 (ish) fee and a letter but NO!

they would almost double our rate and add £250 - £300pm on to our mortgage!!!! we can't afford to rent it out now!!!
plus there is huge 'arrangement fee' of £599 or £1249 depending if we went for fixed or tracker!!
explained that we not applying for new mortgage we just want to rent and thought all we need was a letter and a fee for letter - they said no we need to apply for a rate chg as our current mortgage is owner/occupiers!!!

can they do this??????????????????????????? :mad:

As much as it pains me to do so I have to agree with Orpheo. It doesn't seem fair but I think because you want to change the terms of the lending they can treat it like a new mortgage (or just move you onto a BTL which would result in the same fees etc.) Sorry to hear you won't be able to afford to rent it out though

ocalllo

Thanks guys - just was soooooooooooo disappointed by their reply.
Wasn't expecting it at all - thought it was straight forward

have to go back to the drawing bord.

sonastin

I think sometimes they do just give "consent to let" on your existing mortgage and sometimes they require you to transfer to a BTL mortgage. There doesn't seem to be much rhyme or reason to it but I guess it depends on who your lender is, what the current LTV on the property is, what type of mortgage you have, etc. Looks like you fall on the wrong side of the equation.

LilacPixie

well we have had an offer, bit too low to be acceptable but if they raise it 7kthey have a deal

Blodwen

Small update (as well as a bit of a bump up from page 3). We signed with our new EA, who is also the EA for the place we like, on Monday. they took the pics etc then but we were still surprised that we were on RM yesterday - our last EA took about 3 weeks! It's only the basic details as they'll fill in the rest later but it's good to get it on there asap. We're listing it at 5k below what we had it with previously but it seems like we (or rather the EA) may be able to get our potential vendor to reduce theirs a bit more, but we'll see how that goes (their situation is a bit different to what we were led to believe, but hopefully it shouldn't impact on them selling their house)

Anyway, new EA has just rung with a viewer for us tomorrow :j It sounds like it could be a landlord, which wouldn't surprise me as we're in prime student rental area. The only thing that worries me in that case is that we're only 2 beds and student houses normally cram as many in as possible, but if he's read the details he should know this so we'll see. Fingers crossed for me please!!

Blodwen

WheelieWood wrote: »

Now confirmed.

Sorry to hear that, and not a nice way to find out either. Hopefully the drop in price will generate some more interest.

LilacPixie wrote: »

well we have had an offer, bit too low to be acceptable but if they raise it 7kthey have a deal

Fingers crossed for a higher offer

tyllwyd

Good luck to anyone who needs it!

We've got one person interested in the house but they are looking more and more flaky - earlier we were given the impression they had a cash buyer all but ready to buy their house, but a couple of weeks later it is looking less and less likely so we aren't holding our breath.

Mind you, my daughter was having her guitar/singing lesson in the dining room yesterday, before going on to practice on her drum kit - and my OH pointed out that maybe our plan to downsize to a semi-detached house wasn't going to make us very popular neighbours!