I am going to buy my first home, help and advice greatly received.

kazire

So here the story starts, I am currently renting a property and have saved up a small deposit towards a house, I have now decided I would like to buy a property of my own rather than keep renting.

I have been looking on right move and a few houses I could afford have come up, I am going to look at these next Monday!

I have spoken to my bank about a mortgage and they have said no reason why I would be unable to get it subject to the normal checks however the EA has said about speaking to the mortgage broker in shop?

any tips or advice on what I could be doing in the mean time and if I like the properties then what ? ... or should I not ask until I find one I like.

Many thanks K

G_M

Ignore the EA - he's just after your commission.

Speak to your bank, or better still and independant motgage broker.

Get a mortgage in Principal arranged (MIP), it makes you a more serious proposition to any seller when you come to make an offer.

When you find a property you like, compare the price against sold prices of similar properties in the area. Then make an offer.

23rdspiral

sound advice from GM. good luck!

kazire

Thanks GM for the advice I saw a broker who has managed to get a deal for me im happy with so have a MIP I have now found a house I really Like I have seen a fair few it came down to a couple but one has that extra something I feel comfortable in it! Have seen the property a few times and it needs work which I'm up for! I also have a handy dad! I am thinking about putting an offer in this afternoon it's on for 119,500 I don't think it's worth that it needs total revamp heating and plastering a house in the opposite side of the road was asking 13500 and that was all made nice thinking of offering 108,000 what do u lot think? Advice greatly received also been on the Market for 37 days few viewing but no offers x

maninthestreet

What do you think the house is worth in its current state? Whatever that figure is, deduct 10%, and make that your first offer.

poppy10_2

kazire wrote: »

it's on for 119,500 I don't think it's worth that it needs total revamp heating and plastering a house in the opposite side of the road was asking 13500 and that was all made nice thinking of offering 108,000 what do u lot think?

If you're comfortable posting a rightmove link we can take a look.
Also, enter the postcode on http://www.houseprices.co.uk to see what it last sold for.

Lokolo

maninthestreet wrote: »

What do you think the house is worth in its current state? Whatever that figure is, deduct 10%, and make that your first offer.

Just to go on from this.

If you've been told you can get a £120k mortgage and you have £30k deposit. Should you go for £150k houses to get a lower mortgage or go for £167k to get a house valued at what you can afford?

kazire

K so I have had my offer accepted, with this offer I asked for the house to be taken off the market, but what does this actully mean? Should they take down the for sale sign or just put sold on it? After being advised and I stupidly signed up to countrywide lawyers! Managed to cancel after reading the horror stories on here about them! So now I spoke to the EA who is going to get some quotes for local solicitors! Will hopefully have one in place by tomorrow afternoon! Now can u tell me what happens? Thank you!

sp1987

kazire wrote: »

K so I have had my offer accepted, with this offer I asked for the house to be taken off the market, but what does this actully mean? Should they take down the for sale sign or just put sold on it? After being advised and I stupidly signed up to countrywide lawyers! Managed to cancel after reading the horror stories on here about them! So now I spoke to the EA who is going to get some quotes for local solicitors! Will hopefully have one in place by tomorrow afternoon! Now can u tell me what happens? Thank you!

Contact a local solicitor yourself. You do not want the EA arranging your legal advice. That is like asking Sweeney Todd to cut your hair. It makes me shivver.

Even if you intend to spend until exchange asleep under a bush, ensure you have a good solicitor you have chosen yourself. Especially if the house 'needs work' (i.e. could be liable to fall down, though so can any property really).

kazire

Just an updat have had the mortgage offer now waiting for solicitor to get bck to me with the surveys!!

casper_g

kazire wrote: »

Just an updat have had the mortgage offer now waiting for solicitor to get bck to me with the surveys!!

Eh? Why is the solicitor getting you the surveys? Is that normal?

First the vendor's agent finds you your solicitor, then the vendor's agent's pet solicitor sorts out a surveyor for you. Have you received any advice from anyone who hasn't, directly or indirectly, been hand picked by the person you're buying the house from?