First time buyer - guarantor advice/info

Gillyx

tara747 wrote: »

Could you speak to the LL/agent and explain your changed circumstances? They may let you out of the lease early. Good luck. If it helps, you're even more lucky that you rent... you would have a nightmare trying to sell it! At least the longest you will be stuck there for is till the end of the lease.

I hadn't realised that it was a 1-bed... I have too much stuff ever to live in a 1-bed place! :rotfl:

We're thinking of that, baby isn't due til January, but in my family they have a habit of making an early appearance. We signed the lease in May, so only 4 months, which isn't the worst, but the thought of trying to fit a pram, cot etc in here is hurting my head

tara747

leftieM wrote: »

We ended up in Finaghy. We've lived in this area for 10 years so it holds no shocks or surprises for us. It's not fab in terms of primary schools but it's got some cracking secondary schools just a cycle or bus ride away.

Good for you, I'm glad that you found somewhere that you like. All the best with it. We are still holding on and saving till we see the right house at the right price (God, some sellers are deluded :rotfl:). We have about £70,000 between us and are still saving, so are hoping for a VERY small and short mortgage!

Gillyx wrote: »

We're thinking of that, baby isn't due til January, but in my family they have a habit of making an early appearance. We signed the lease in May, so only 4 months, which isn't the worst, but the thought of trying to fit a pram, cot etc in here is hurting my head

I would definitely speak to them, the worst they can say is no and they may be more understanding than you think! It's summer and rental season lasts till about October (depending where you are - I live in south Belfast!) so give it a go. Let us know how you get on xoxo

Gillyx

tara747 wrote: »

Good for you, I'm glad that you found somewhere that you like. All the best with it. We are still holding on and saving till we see the right house at the right price (God, some sellers are deluded :rotfl:). We have about £70,000 between us and are still saving, so are hoping for a VERY small and short mortgage!



I would definitely speak to them, the worst they can say is no and they may be more understanding than you think! It's summer and rental season lasts till about October (depending where you are - I live in south Belfast!) so give it a go. Let us know how you get on xoxo

We're in South Belfast too we're happy enough to stay here until the baby arrives, it's really small so heating/electricity bills aren't much, really close to city centre so no travelling expenses, if this was a 2 bedroom I'd be staying put, just how things work out sometimes

leftieM

tara747 wrote: »

Good for you, I'm glad that you found somewhere that you like. All the best with it. We are still holding on and saving till we see the right house at the right price (God, some sellers are deluded :rotfl:). We have about £70,000 between us and are still saving, so are hoping for a VERY small and short mortgage!

Thanks Tara. That's good going with saving. You'll end up with a lovely house.

Parisien

Parisien wrote: »

Yes, since spoken to a guy in the know....more to come, between student fees, numerous cuts, less general spending......not looking good for next 2 yrs.

Plus lots of, and I hate this term esp if people have bought and it is their own home, distressed sales, mainly though from developers and banks. He reckons, waving money up front.....at right person, 15-20% off......


Will be hitting the Estate agents on Lisburn road tomorrow am

So...we hit the EAs this am....and using the LPS site, noted a number priced exactly as listed on that site......hhhhmmmmm

5 EAs visited...and only a handful of suitable properties found......might be a wait as see scenario.

In the biggest office there were 12 at their desks......10 on the phone.......how can it be, with so little market activity and indeed sales, that in just one of 100s of EAs in Belfast, they were all "busy"?!

tight_arze

Parisien wrote: »

In the biggest office there were 12 at their desks......10 on the phone.......how can it be, with so little market activity and indeed sales, that in just one of 100s of EAs in Belfast, they were all "busy"?!

They were probably on the phone to the talking clock.

tara747

OP - what about this place? Can't wait for the day when all sellers are this realistic. I know it's a repo but still... would hate to be their neighbour who paid £250k for theirs. And yes, they would have sold for that much at the peak, despite backing onto a railway line.

http://www.propertynews.com/brochure.php?r=1&c=9&s=134790417&i=8&p=UPS11217-2-263531&fp=1&sort=h2l

Parisien

tara747 wrote: »

OP - what about this place? Can't wait for the day when all sellers are this realistic. I know it's a repo but still... would hate to be their neighbour who paid £250k for theirs. And yes, they would have sold for that much at the peak, despite backing onto a railway line.

http://www.propertynews.com/brochure.php?r=1&c=9&s=134790417&i=8&p=UPS11217-2-263531&fp=1&sort=h2l

I feel very sorry for those who bought at the peak, esp those who bought as their own house to live in, then to have to move or be effectively, permanently in negative equity......horrific.

Tara....are you sure these were selling for 1/4 million 3 years ago?!

I am still following this up, waiting for more feedback from Northern bank over the next two weeks....basically to see what they might lend.