New to the forum - help appriciated :)

mrobinson2

Hi all,

Been reading the forum for a while now and have finally registered! My girlfrien and I are curently looking for a house and think we may have found the 'one'!

We are first time buyers and a mortgage promise in place, we have no soliciter but up to that point we are completely stumped!

We really need to know where to go from here, we want to make an offer but are unsure whether to book another viewing at the house!

All you help would be greatlly appriciated.

Thanks

Michael

silvercar

you need at least two viewings at different times of the day / week. this si the biggest purchase you'll make so get it right! I would also suggest drive pasts at other times so you can see the neighbourhood.

When you've decided you want to make an offer, start with a low one and emphasise your a FTB so no chain etc.

chant1l

Yes book another viewing and look at the house at a different time of day.
Your next step is bid successfully and then to organise finance and a solicitor, the two can sometimes be combined by the broker/finance company, they will also organise a survey for you.
Good luck!

mrobinson2

Thanks for your advice so far guys. We have seen the house again and really want to put an offer in, what should we start at, the house is up for 130k.

Once we have had an offer accepted, where should we go from here? I am contacting our mortgage broker tomorrow as he isnt back from his holidays til then. should we contact more than one broker?

Then what?

Sorry for the questions but as you know we are new to this!

Thanks in advance

Michael.

barnaby-bear

mrobinson2 wrote:

Thanks for your advice so far guys. We have seen the house again and really want to put an offer in, what should we start at, the house is up for 130k.

Once we have had an offer accepted, where should we go from here? I am contacting our mortgage broker tomorrow as he isnt back from his holidays til then. should we contact more than one broker?

Then what?

Sorry for the questions but as you know we are new to this!

Thanks in advance

Michael.

£130k is close to stamp duty threshold of £125k, I expect vendor will expect to be knocked below £125k and £130k is to ensure they get as close to £125k as possible. Only pay what you can afford and is reasonable for the house https://www.houseprices.co.uk. Most houses go for 93-95 % of asking.

Don't let your EA recommend a surveyor.

When choosing a solicitor most mortgages insist on non-sole practictioners so avoid one-man bands.

littlescarlet

Michael, it depends what the property market is like in your area. Do houses fly off the market because if so, I'd offer the asking price. If they hang around for a while you can try a bit lower. How long has this house been on the market? Theres a link from this site you can use to check the selling prices of houses on the street where you are thinking of buying - I think it's from the article about reducing your council tax - so that might help too, although they aren't always up to date.

If I were you I would get yourself an Independent Financial Advisor and they can advise you on the best deals for mortgage, Insurance, that sort of thing. That way you don't have to face all the tricky stuff yourself. There's advice on that sort of thing here too but basically just make sure they are 'whole of market' ie they aren't tied to one company or bank and you should be OK. They won't charge you a fee as a rule - they get commission on the sale of whatever mortgage you choose. I have had one for ten years and always check the deals he advises - and I've never ever beaten his rates.

mrobinson2

thanks for that littlescarlet, we have an independant advisor that was recommended by my girlfriend's auntie who has been with them for years.

He is whole of the market but he did mention something about his fee! should he be charging a fee or is that something he will claim from the lender?

Thanks

Michael.

zipwen1

some charge a fee some dont