Any other FTB here?

stokegal

As I have been reading through other posts on here and hearing about how impatient we can be (I think that it is we are just too excited!!! - Well I am) I thought that we can all post our experiances here and compare how far along we are getting.

So I am buying a house with my boyfriend - we started looking about a year ago, made an offer on a house last June but was gazumpted - luckily it was on the day of the valuation so we didn't lose any money.

We then viewed a house on the 18th April and then looked at it again on the 19th, it was on for 95K and we offered 88 on the 20th, the vendor came back within 5 minutes and said he would accept 90, I said ok but on the condition that it was to be taken off the market - he agreed!!! :j

We had a mortgage in principle with a local broker, we then went to fill in our application form on the 25th, paid our valuation fee and was told that we would get the results of that next Thursday/Friday.

And now I'm just waiting.....

olive84

Well... First of all, good luck! This has been my experience so far...

7th Feb, had offer acepted.
7th Mar mortage app approved
24th Mar all searches ready, happy with survey and contracts signed.
26th Mar called EA to get exchange date from rest of the chain and found out that the top of the chain had pulled out and started from scratch buying somewhere else...:mad:

Nearly 6 weeks later and no idea when we are going to exchange/complete. I hope things go a bit more quickly for you! I think as FTB we are a bit impatient, but its exciting and we've never done it before! Plus, I can't wait to move out of my horrible rented room. I'll keep you updated, and keep posting to let us know how you're doing.

stokegal

Thanks - forgot to mention on my post that the house that we are buying isn't in a chain so hopefully it won't take too long - it's in the next street to where I live now (have moved back with my mum to save some money) and I keep on walking past it slowly and getting excited!!!!

englishdesi

I am a first time buyer too, saw in January a 1 bedroom purpose built flat for £179,950, first day on market on first viewing had offer accepted.

The only problem was, the Vendor is pregnant and didnt want to move into rented accomodation as her new build property is going to be ready in July.

So, contracts have been exchanged and completition is set for end of July.

I used https://www.onlineconveyancing.co.uk to handle all the searches, solicitors etc, they were really cheap and I had searches and everything done in less than 2 weeks.

Whilst the delay in frustrating, it has worked out advantageous as shortly after accepting the offer, the vendor was offered the opportunity to buy the freehold for £1500, so she passed it onto me, so upon purchase I will be owning a share of the freehold !

Any first time buyers who need any guidance, feel free to PM me and I will be happy to help out.

Regard
Englishdesi

poppy10_2

:spam: ^^^ :rolleyes:

englishdesi

No I am not a spammer, I am simply a first time buyer like many on this forum, apologies if my post got construed this way

craignattress

Hi, another FTB. Made an offer last week after viewing tons of properties, which was accepted, mortgage submitted without use of a broker, just waiting for the outcome weds/thurs

interesting to read the timescales involved in the surveying process, no chain involved in mine so will hopefully progress nicely.

fingers crossed!

deb_buffy

we are FTB hoping to exchange this week i hope!

Our time scales:
14th Feb viewed house
15th Feb offer accepted
28th feb mortgage application put in
around 15th march searches started
30th march Homebuyers completed
2nd april Mortgage application complete
4th april contracts signed
16th april final search came back
today-waiting for final enquieres then i can send deposit and hopefully exchange end of the week

29th may - we are hoping to complete as our rental agreement finishes early june.

I think my solicitors are starting to hate me with the amount of calls i give them to see where we are and is there anything i can do to speed things along lol. I think you are right about FTB being impatient but i think its because we are sooo excited and since we dont know whats ahead with the whole process we just want the house/flat to be ours asap.

stokegal

Oh No!!!!

I had the dreaded call from the mortgage broker today - our application in principle has now been declinded by the mortgage company!!! - When we orginally applied for the mortgage my boyfriend had his address as his mum's in Hertfordshire, he has since moved up to Stoke to live with me and mum whilst we look for a house. When we completed the mortgage application form they have now declinded it because of this!!!! My broker has tried to appeal this decision but it doesn't look good - I am so gutted!! We have really struggled to get this mortgage as we need 100% mortgage and I have had credit problems and my boyfriend has no credit it at all. He says that he has another lender that will borrow to us but their rate is above 7%!!!! I don't know what to do now...

Any suggestions would be greatly appriciated - except to wait!!! We really have our hearts set on this house and it's perfect - a good price and close to my family

pinkkaz

Oh no! I always thought that banks were excessively keen to take your money. Did you go through a mortgage advisor? Try it. We managed to borrow a lot more going through an advisor (as they act as a guarantor) and I expect that if you tried the same you may have more luck with the bank.

As for me, I'm a FTB buying with my boyfriend (marrying him in Jan - it's an expensive year!) and borrowing a 100% of £220k !! We can afford it though, and is a sensible move (believe it or not...)

zeddy_2

Hi

Really hope everything is going well for all you ftb's out there. I am currently searching for my 1st place with my boyf. I wanted some advice though really if possible...

We found our perfect house last week but we think it is over priced by at least 15k, the thing is I just have no idea with the way the whole thing works. We have not actually 'officially' enquired as to how much mortgage we can borrow, but we think our maximum amount to be lent would cover us to make a realistic offer on this particular house. The thing is I just don't know what order to do things in. Do you make an offer on the house first, before you have your mortgage accepted?

Sorry, I am a total dunce about all this. Any advice would be really gratefully received.:j