Anyone else a FTB at the moment?

Hippychick

This weekend we had our offer accepted on a property that is absolutely perfect for us.

We are paying 230k which is 20k lower than the original asking price :j, thankfully we are able to afford to move into our 'forever' home and can skip the starter home stage.

We had our mortgage fully approved over the phone last night :beer: 4.99% fixed for 10 years, we have a 62% LTV. We hope to save/overpay in order that at the end of 10 years we can repay the mortgage in full but of course that depends on future factors and circumstances.

Solicitors are all instructed we just need the contract papers now, we are so excited and can't wait to get out of our rental property.

Our rent is currently £1k a month :eek: whereas a repayment mortgage on a nicer property is £850 pcm for the next 10 years :T.

I'd like to hear from other FTB'ers and your journeys

pawpurrs

Congratulations, hope it all goes through smoothly for you.
There is a whole ftb thread on the board, they look a friendly bunch.

Hippychick

Thanks I did look for a FTB thread but couldn't find it. I'll have another nose around later.

loki13

We are going to look over the contract on our new home this afternoon. Our repayments will be the same as the rent we pay at the moment. We had an offer accepted on another house at the start of the year, but the searches showed the extension was built over a public sewer, and then the survey came back with a huge list of problems. The upside is the house we are buying now is nicer, bigger, and has friends just moved in across the road.

We wanted to complete last week, but the vendors solicitors were on a go-slow. I'm alomst looking forward to wallpaper stripping and painting, but I'm sure the excitement will pass as soon as I start actually doing the work

Harry_Powell

Congratulations! I'm a prospective FTB with my gf. We've been keeping an eye on the properties in my area and they don't seem to have moved in quite a while now. We're holding out for a wee while longer because I still feel that house prices have a bit more to drop, but it is hard continuing to live in rented when we know we could be in our own home by now. Only a few months more I think and if prices still don't move then we'll buy.

Conel

Hey all,

Yes, myself and my partner are also FTBs. Have offered on a property we like but all 3 offers been refused with a 5k under asking price thrown back at us...which we are not willing to accept.

So still looking but not much is coming on in our area at the mo!

dogbot

Yep, self and the girlfriend are FTB. Our tenancy is up in a few months so the time seemed right. We had an offer accepted on a fantastic place at a reasonable sum under asking and what similar properties very near by sold for last year. It was a saga getting the offer accepted since they at first tried to get more money and there was a previous agent getting in the way, but now solicitors are instructed, mortguage papers are in, fingers are crossed and the waiting has begun.

Good luck to everyone!