When, when, when?

Kuztardd

Hello people,
I hope you can shed some light on what is probably a very easy question (or six...)
Me and my partner are planing to buy our first place together. much excitement and alas scariness what with the %rate increases.

Between us we have upto £85,000 deposit.

Hoping to buy a place around the £200k - £250k mark around North London.

We have a combined wage of around £51k.. This should be enough to get our desired mortgage of £165k, i hope?

His deposit (£65k) is ready and waiting; but a big chunk of my part of the deposit is sitting in ISA'a until April time (not sure of what day they mature????)

1) When do you reckon we should properly start looking at places?

2) When to appoint a solicitor?

3) When to find out about a mortgage?

4) Tell our lettings agent that we plan to move out at some point hopefully with the next 8 months (we will have been in this rented place a year in April)

5) What should happen if we see a gorgeous place next week... how long can we realistically delay for without annoying anyone.

6) Should we be fully honest with Estate Agents, and say that we cant pay for anywhere until April time.

Any answers appreciated and a big thanks in advance.
A.

lynzpower

1) When do you reckon we should properly start looking at places? Given your expecting to move out in April, now is a good time, given that most leasehold properties take 2-3 months min to complete.
2) When to appoint a solicitor?
Have an ask around mates, colleagues here, who they recommend, and get rough estimates as to the cost. you dont need to instruct them till youve found somewhere to buy & your offer has been accepted, but nice to have a rough idea who you will choose.

3) When to find out about a mortgage? Do that now. You can go to an all of market broker, I used alexander hall based bank/ chiswick & somewhere else they were excellent

4) Tell our lettings agent that we plan to move out at some point hopefully with the next 8 months (we will have been in this rented place a year in April)
why 8 months? Once your tenancy has expired in April, then surely you will go onto a periodic tenancy ( ie one months notice on your side)
5) What should happen if we see a gorgeous place next week... how long can we realistically delay for without annoying anyone. (seeminlgy you wont be delaying
6) Should we be fully honest with Estate Agents, and say that we cant pay for anywhere until April time. ( thats when youd expect to move if you found somewhere today I guess but being upfront doesnt harm anyone.

Hope this helps

Robert_Sterling

1) When do you reckon we should properly start looking at places?
NOW
2) When to appoint a solicitor?
NOW
3) When to find out about a mortgage?
In january
4) Tell our lettings agent that we plan to move out at some point hopefully with the next 8 months (we will have been in this rented place a year in April)
Your call
5) What should happen if we see a gorgeous place next week... how long can we realistically delay for without annoying anyone.
This will vary. Other buyers and sellers will be involved
6) Should we be fully honest
Could you be otherwise?

Kuztardd

Maybe i should now re-title this thread Now, Now, Now!!
Suddenly it all becomes real when it all goes into motion. :eek:
Thanks for the replies.

Regarding question 2) I've had a refferal from a friend but for a solictor who is 100 miles away.. or is it better to have one local? to deal with face to face?

why 8 months?... oh, that me just being pessimmistic.. in case we cant find a place.. hopefully within 8 months we will be snug in new pad somewhere

Once your tenancy has expired in April, then surely you will go onto a periodic tenancy I am hoping this is correct as well.. I may have a word with the Letting Agent