Advice Wanted

lazer

Hello All,

I have an appointment to view a house this evening and was wondering if anyone could advise me of the type of things to look out for and what questions to ask?

As a first time buyer i'm new to all this - only viewed one property yet!

Also - in relation to buying, I have an AiP with the post office, however i have just enough funds saved to cover the deposit but not really the additional fees

My plan was to keep saving until i had enough to cover all the fees - however the perfect house has now came up and I really feel that it will be worth the extra scrimping and saving!

I was wondering if someone could advise me what these fees are likely to be and how soon before/after purchasing do i need to pay them.

I will have no moving/furniture costs - as i currently live in a one bed flat and have most of the furniture gathered up. Also my parents house is in the same estate - so until i can afford any furniture - I can borrow of them and use their washing machine etc!

Any help much appreciated

lee636

We're kinda in the same boat, offer in, waiting to hear. We have around £3k set aside for costs - Solicitor around £1k, mortgage £350 including the valuation & arrangement deposit, £500 property survey etc.

It may be bad advice but something like a survey or solicitor's cost could be put on a 0% credit card, you said you will be saving the extra anyway, so pay that off asap.

lazer

The valuation and arrangement fee can be added to the mortgage, so that should be ok!

Solicitors fees - i was thinking the same about a 0% credit card - in factr have just got a new one with 12 months 0% on purchases - so happy days!

ray123

For questions to ask, have a look at these websites:
http://www.whatprice.co.uk/financial/housing-market/house-questions.html
http://www.channel4.com/4homes/buying-selling/buying-property/essential-guides-and-advice/questions-to-ask-when-buying-a-house-08-06-24_p_1.html

You could also try this (a printable sheet which I found v useful):
http://static.which.net/static/html/pdfs/viewing_checklist.pdf , which is taken from this website:
http://www.which.co.uk/advice/viewing-a-house/viewing-checklist/index.jsp

lee636

lazer wrote: »

The valuation and arrangement fee can be added to the mortgage, so that should be ok!

I think in the wording on my AIP (on a couple ive seen) it says you can lump the arrangement fee onto the mortgage but you also have to pay a non-refundable 'admin' charge when you actually apply.

lazer

Thats for the links - some of the things i would never had though of asking!

I'll also have to take at closer look at my AiP, I'm also looking at a few other mortgages - so don't even have a final decision on that!

This house buying process is very nerve wrecking - there is a lot to get my head around!

lee636

Tell me about it! Can only get better though......:eek: :rotfl:

sonastin

lee636 wrote: »

Tell me about it! Can only get better though......:eek: :rotfl:

sorry no. I'm afraid you're wrong there. I thought it was nerve-wracking as a FTB. Now I'm trying to combine buying AND selling. I'm afraid it only gets worse :rotfl:

(how's that for optimism at the beginning of the week! Good luck with your purchases )