Mtg offer rcv'd!| Prop Rsv'd | ukmonkey (a FTB)'s house buying help thread...

ukmonkey

It is on a cul-de-sac, kinda like where the * is on my 10second diagram below!

Not sure what direction the house "faces" (does that mean looking out of the front or the back?!) I *THINK* the back looks out to the west (it has some priceless views!).

Not sure about the garden being turfed, I think it will be (but I'm kinda assuming!), the OH thinks it won't be, but we will check. It doesn't have an outside tap, I'm pretty damn sure of that.

We will be wanting to put a power point in the outside cupboard, which is joined to the house on the front, and is next to the [inside] downstairs loo, which is where the fuse boxes etc are. Would it be too cheeky asking them to do that for us (it'll just be a case of drilling thru the wall, passing a wire through, and fixing a power socket)? What about TV arial and telepohne points?

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gallygirl

UK Monkey your house looks stunning!!!!!!!!!:rotfl: :rotfl: :rotfl: :rotfl:

'Facing' means what way does the back garden face - if it faces west you will ahve teh sun all afternoon and evening.... lucky you, mine faces east, by the time I get round to getting out there it's gone!!!! What about your views - as you're on a new buid I wouldn't expect to keep them - there will probably be housing on there soon - ask the developer, be v wary of the land is higher than yours at teh back, they'd be able to look into your garden!!!!

Sort out about turf - quite normal now or front to be done, back not - at the very least you should ensure they clear it & put topsoil on it. Fencing - ideally 6' all round, often now 3' only at sides with'coutesy panels' i.e. 2 6ft panels next to house. May only be link fencing though - thgis looks orrible - what have the other houses got (assume some are already built if yours is last to go?) Outside taps are usually standard nowadays?

Em,,,,, not cheeky to ask for extra socket as they'll charge you for it.......not sure if this will be allowed though if classed as being outside.

There should be an aerial point & telephone point supplied, actually, probably several aerial points. You need to ask to see copy of plans - this will show where they are, also position of sockets - you may want different locations for some of these - builder should accommodate you on this as long as not that far in building yet. They won't do anything 'wierd' though e.g. eye level sockets, they want to esnure they can sell property easily if your sale falls through. You will need to get aerial fitted though - all these costs add up frighteningly. Eg, not just curtains to buy, poles also need buying - and fitting - are you handy or have parents / friends who are???

You need to word your email more carefully. e.g.
'We would consider paying the full asking price, depending on what overall package you are prepared to offer. 5% deposit and a £3,000 carpet allowance (to be paid in cash) plus £500 towards legal fees has already offered, but no mention has been made of white goods, soft furnishings, turfed garden' (if not included) plus anything else you can think of.
'As ftb we are in a good position bla bla'. As I am sure you are aware (she will be!!!) other developers in the area are offering more generous packages including bla bla (have you time to research this???????). Although we rate your development highly we must ultimately make a pragmatic decison based on the best deal available. '

You must NOT tell them you love the place (although fear you have already given this away???) And rephrase subject to mortgage etc..... that is a given as far as they are concerned, don't put any doubt in their minds. But good point about speedyness.

Your best bet is to go for packages rather than cash - they will get a discount e..g. on washing machines so will cost them less. Also, if curtains are on offer snap them up (in a very calm measured how much choice, what type of poles kind of way) - you will get better quality than you could afford, the poles will be put up by professionals, you will have curtains when you move in!!!! Anything really to save you forking out cash, or worse, putting stuff on credit cards.

Good luck - report back!!!!

ukmonkey

Ali, great post, thanks, it's what I've been looking for for the past few days!

The property is at probably the highest part of town, the views are fantastic (looking out over town from the front, but the back garden looks out over all the country side etc, absoloutley fantastic!

The propert doesn't have a front garden, or certainly not much of one, but I'm 99% sure there is nothing there.

I will pop in tommorrow to ask for plans of the arial points, and leccy sockets.

I'm not "handy" whatsoever, but will obviously learn as time goes on. My parents won't be helping me with this at all as we don't get on, and I don't want them to have anything to do with my house, sad I suppose in this day and age but there we go... The sooner I'm out of their house the better, as far as I'm concerned, and as far as they're concerned too. Anyone would have thought I was a drug dealer or murderer or something. I think they just have mental issues Anyways, enough about that, I'll soon be rid of them forever when I move out! I've got a good mate who is VERY handy, he can do leccy work, general handy work etc etc etc.

I never once thought about asking about "white" goods and curtains etc, but like you say, it all helps!

I think how we're going to play it is:

1. We should find out from the broker Friday pm about the AIP (if we don't he will get a SEVERE telling off from me!)

2. If we DO get the AIP etc and it all looks good, we'll go to see Lisa (the on-site sales rep) on Saturday morning, and play it cool. you know "can we have a nother look around? Its a lot of money and we're starting to have second thoughts. We've had an AIP through, but money will be severly tight for us, so unless you can give a better deal we will have to strongly re-consider wether we can afford it" etc etc etc. What do you reckon?

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Fencing - This, IIRC is pretty !!!! fencing. Not too worried, at least until perhaps next spring anyways, will get that sorted ourselves.

No problems at all with other new properties going up higher than ours, there is absoloutley NO risk whatsoever of this happening.

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How would it work if they paid our solicitor's fees (all, or part)? Would they pay the sol's directly, or will we pay them, and then get it as cash back from the developers?

We've been quoted from 2 solicitor's for the conveyancing, one was £830, the other was about £100 more expensive. This included all relevent searches, and VAT. On a property selling for £126,995 does this sound reasonable? I am aiming to get a least two more quotes anyway, but just wondered.

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I'm just REALLY hoping the broker gets the AIP through tomorrow.

At what point will we be credit checked (I'm worried about my credit check)? Will they credit check us in order to give us an AIP, or will they just give us an AIP, then credit check us if we decide to apply for it? I don't have any defaults or CCJ's, but my credit score is quite low (about 650 out of 1000) due to number of searches (I know, I know!) and possibly the number of credit accounts that I have at the moment, although these (1 loan and 3 credit cards. total amount outstanding of about £7.5k) will be paid off if we get the mortgage through (I know about the risks etc, but it is the best choice for us, in our opinion!),

So, basically, if it possible that they could give us an AIP, but then not give us a mortgage because of my credit score, or is it a case of once you have the AIP, its more or less 100% certain they'll give it you? Under what circumstances would a mortgage company renege on an AIP?

I know I've a lot of questions (these are just the main ones lol!) but I REALLY do appreciate your help. I also hope that this thread will be useful for other FTB's as I'm planning on asking all my questions in this thread!

Cheers, ukm.

gallygirl

Well don't plan on asking me as you've reached the end of my knowledge:rolleyes: !!!!

Regarding the AIP, I would assume they did the credit check at this stage, I thought it then depended on you proving income & valuation on property - where are all you mortgage advisors????????

I think your planned approach is great - how are you at poker!!!! Need to be convincing - or get your girlfriend to do it (maybe not, might scare you when you see what a good liar she doubtlessly is!!!!!!)

Sorry about parents - will help the situation when you move out! And :beer: to handy mate - labour for him and see what you can learn, you'll be amazed!!!! When my marriage broke up I was useless, now I change light sockets, plumb in dishwashers, put up shelves (all still in situ:j :j :j ), fit new washing machine taps. Nothing major, but these are the sort of little jobs that either don't get done or cost a fortune.

Not sure how the £500 works. The conveyancing costs sound v high to me but I haven't bought a house for few years. If was you I'd try the internet and do it on line (make sure builders offer isn't dependent on using 1 firm), I've done this before and it works really well, can't remember firms I've used am afraid. The good thing is they don't expect you to driop everything and be able to go in and see them when it suits you - all is done by post.

Have never put fencing up!!!! so can't help you there, but am a dab hand with drill so any shelves, toliet roll holders etec, I'm your gal!

Finally, just a word of caution - buying your own home is V expensive, not for the big things you've (hopefully) budgeted for - but for all the little things. Aforementioned toliet roll holders & towel rails etc soon add up. Every 'only £10, only £25' soon becomes a v large credit card bill, please be careful, especially as you have run up credit in the past. Especially if this is your 1st home and you don't even have plates etc! Go to Wilkinsons, and if they don';t stock it you may go upmarket and go to Ikea - but that's it!!!!!!

Away for weekend, but looking forward to finding out what happens. BTW, if it falls through don't despair! I would say that in at least 90% of cases people go on to get something they prefer.

Good luck!"!!!!

ukmonkey

Northern Rockl will only lend us £109k, max, which is nowhere near enough.

Reason is that the AIP came back as low credit score.

We have no chance.

ukmonkey

The broker is going to [on monday] apply for an AIP from RBS as they do a 100% mortgage that gives 1% cashback, this is our last hope, otherwise it's a case of waiting 6 at least months and starting again!

ukmonkey

Lisa (the on site sales rep) called me yesterday evening to see how things were going, and I told her all of what I've posted on here.

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Me and my partner went to see her again (I'd asked her for plans detailnig where plumbing/power/VHF outlets are). We had a long chat with her.

* The garden is not turfed by them.

* She will try and get us the washing machine that is currently in the showhome.

* I asked how long, it would normally take, for people at our stage, to move in. She said about 5 weeks. We mentioned that we're going away in September and should things go ok, then we'd want to be in by then. She said that they'ds definately want us in by then because that is their year-end. Looks like I might have an extra bargaining tool at my disposal!

* I played HEAVILLY on the fact that money will be tight, it'd take a lot of thinknig about etc etc etc.

The next two or three days will be "make or break" insofar as whether we can buy the property or not.

Here's hoping...

tim158

:T

ukmonkey wrote:

Lisa (the on site sales rep) called me yesterday evening to see how things were going, and I told her all of what I've posted on here.

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Me and my partner went to see her again (I'd asked her for plans detailnig where plumbing/power/VHF outlets are). We had a long chat with her.

* The garden is not turfed by them.

* She will try and get us the washing machine that is currently in the showhome.

* I asked how long, it would normally take, for people at our stage, to move in. She said about 5 weeks. We mentioned that we're going away in September and should things go ok, then we'd want to be in by then. She said that they'ds definately want us in by then because that is their year-end. Looks like I might have an extra bargaining tool at my disposal!

* I played HEAVILLY on the fact that money will be tight, it'd take a lot of thinknig about etc etc etc.

The next two or three days will be 2make or break" insofar as whether we can buy the property or not.

Here's hoping...

good luck m8y,

I am in the process of buying our first family home and know how fustrating it can be ,

but good thread, just confirms things are going the way I am doing things (apart from a TPO on trees going a full lenth on one boundery which the surrvey class a an potential danger due to posible bad weather).:mad:

Hopefuly things might be arranged with the vender soon as to the costing (£1270.oo )

I am at my full budjet everything is arraged @ this propery evern offer for morgage(BTW vernder have split up :eek: sad I know)

Any advice on how i should approch a comperise on the tree sugery, sorry nto highjack the post,

but all the best in yur new home :T

kind regards

Tim

:beer:

ukmonkey

no idea, sorry!

ukmonkey

Still no news from my mortgage broker, and I've left my mobile at home (oopsie) so I'll have to ring him when I get home later this afternoon.

Next question however: wrt conveyancing, I've read that it is advisable to get at least three questoes, one local, one distant, and one online. Can anyone point me in the direction of a reputable online solicitor?

Also, I've got 2 quotes from 2 local firms, one was £820, and the other one was about £920. These both included VAT. One of the quotes however (the letter) had an entry on the breakdown which was something along the lines of "Completion of SDLT - £50.00". What is this, as the other quote didn't have this on the breakdown? Googling brings up references to Stamp Duty, but the propery is Stamp Duty exempt as our area is a regeneration area, so you only start to pay stamp duty at £150k.

Also, do these quotes look cheap, expensive, about right? The asking price of the property (its a new build remember, not sure if this makes a difference here...) is £126,995.

Once again, thanks in advance!