Anyone want to be my house-buying buddy?

LE3

Ok, offer accepted today on a property :j

anyone want to hold my hand through the next few weeks - it's the first time I've dealt with this & I'm doing it on my own!

There is no chain involved & both me & the vendor want it sorted asap.


What I have done:
I have phoned for some quotes from solicitors today & am just waiting for one quote to be emailed through (was a teensy bit higher than expected, but that's ok, I was probabbly being unrealistic!)
Got 3 quotes, one was rude & expensive, one was a bit mechanical in the reading off lots of figures but sounded pretty professional, the third was friendly without being matey, gave me enough, but not too much info, and they are going to email me the quote so I have everything in writing. I think they will also work out a few quid cheaper than the 2nd one but I am not going for cheapest unless they are the best!

I have added up all my savings & identified where the deposit actually is - I have printed off the form for withdrawal of the money in Premium bonds. I think the rest of the deposit is in no-notice accounts - I will move the money to just 2 accounts over the next week or so to make it easier (refuse to put it all in one acct as it's over the £50,000 banking guarantee!)

see my other thread abt mortgage - I guess I need to make an appt to see somebody about this asap???

what else should i be doing right now other than panicking?????

princessamy86

Breathing slowly and calmly! You do need to get your mortgage sorted, and pay for your survey because that's normally the first steps. Obviously you're on with instructing a solicitor, so once that's done you'll start getting paperwork through. Fill in and return promptly to prevent holdups. Check the solicitors you think you will use, get recommendations if you can. Other than that, try not to bite your nails too much! Any questions just post them, I'll certainly do my best to help.

Sammy85_2

DONT PANIC!! lol

Ask your friends/family/work collegues if they can recommend any solicitors. Our choice of solicitor was based on a recommendation and we've been using her ever since. Spot on.

You need to get your mortgage sorted ASAP, your solicitor will want to know who your mortgage will be with. Do you have a MIP yet? I see you're looking at Offset. Thats what we have, with Natwest and its linked to three savings accounts (maximum you can have) - mine, his and our wedding fund. We have a good amount sat offsetting and we overpay by double each month to bring the term down. Offset a good option if you have a good amount of savings.

I would switch your deposit money (as you are already doing) and make sure its all in easily accessible places ready to be transferred to solicitor when the time comes.

LE3

I haven't got any family locally (hence doing this alone) & the one friend I have locally hasn't moved house for over 10 yrs! She recommended a solicitor (#2 in my scenario above) but it wasn't exactly a recommendation more of a "I have heard these are ok" type IYKWIM - they are based in the next town to where I'm buying. The one that sounded very efficient on the phone (will see what the email quote is like) is fairly local to where I work as would #2 be. Everyone I work with lives miles away from work & not in the area where I am buying so I don't think they'll be able to help there.

I know I need to sort the mortgage - I had a MIP a few months back but that property fell through so I was just getting started on the process again to find the best current deal when they went & accepted my offer on this property (bit of a surprise really as I went in a tad lower than I thought they'd accept but they know I can move quickly & they are very keen to sell ) Getting the mortgage won't be an issue, finding the right one is more of a problem - and I have no clue who to talk to for help on this!!

princessamy86

If you put the name of the solicitors on here someone may know of them?

goggle

if the solicitors are local, I don't see that the OP would gain anything by naming them. If it's a national chain/internet firm then possibly.

Do you have the acceptance of offer in writing from the EA?

You've got to get the solicitor/conveyancer sorted asap & the mortgage.

princessamy86

goggle wrote: »

if the solicitors are local, I don't see that the OP would gain anything by naming them. If it's a national chain/internet firm then possibly.

Do you have the acceptance of offer in writing from the EA?

You've got to get the solicitor/conveyancer sorted asap & the mortgage.

Well there are lots of people who read the board! Someone may have heard of them. Have a google OP.

hethmar

If possible, get the solicitor in the same town as the estate agent, you will probably find things go smoother and if there is a problem, it can be sorted out quicker - just sending stuff down the road to the other side is a lot quicker

Google for a list of things to do, there are lots of sites that can lead you through the process.

Mortgage/survey/solicitors. Deposit, then just wait and fill in forms as they come along - you are paying someone else to do the worrying for you.

LE3

I have narrowed my solicitor choices down to 2 - just waiting for the email with the quote to come through now (should get it first thing tomorrow morning)

I will be making phone calls tomorrow to try to get a mortgage appt for next Tuesday when I'm off work - should be able to get it sorted then

knightstyle

The estate agent will probably have a pack for first time buyers with a useful check list, not foolproof but a good guide if you double the timescale.

LE3

Ok, just figured out exactly how much money I have today in varous banks etc, and need to be 100% sure I haven't forgotten anything before I commit to the mortgage! So, what costs have I forgotten?!
(Day to day running stuff like contents insurance, standard bills etc should be no different at all, if anything quite a lot cheaper, than what I pay now in rented so I'm not including them, just thinking of any other costs I may need for actually moving!)

Solicitors fee (~£800)
Stamp Duty
Mortgage application/arrangement fee (allowing £1K - should be less!)
Buildings Insurance
Mail Redirection

I won't need much ££ for actually moving, as I have a couple of friends with 4x4 & similar large vehicles who have already offered to help so I will prob just need to rent a self-hire van for 1 day to move the bigger/heavier stuff. I will have almost a month's overlap with my current property so will do it fairly slowly. I will of course pay petrol etc to my friends (if they'll take it!)