Trying to get on property ladder - disheartened

Enterprise_1701C

Summer69 wrote: »

Ah thank you


I'm in Surrey

We live on Surrey/Hampshire border, technically in Hampshire but literally 5 minutes walk to Surrey, and Berkshire for that matter. It is a "nice" area where property is concerned. I hate to say it but we have noticed property prices have gone up A LOT in the last 6 months or so, and you are talking approximately 15% or more.

banks4u

Could you not get help to buy or a shared ownership house? At least you will be on the housing ladder.

e13

Hi OP,

I would definitely suggest you get an agreement in principle - they usually last for 6 months, and most estate agents wouldn't regard you as a serious buyer at all without one. That way you're ready to pounce as soon as something comes up. I'd look round and get an AIP for the largest amount you're comfortable you can afford, as I found I could get these with a soft credit check. Now I'm actually moving through the house buying process, I'm getting a cheaper mortgage via a mortgage broker - but if you need the biggest mortgage you can get, you may need to start by going via a broker.

I'd also ring round (or visit if possible) the estate agents in the area, explaining how keen you are to move and they will start ringing you before things come on the market. Some estate agents market things to their mailing list for several days before they even go onto rightmove.

I think someone else's point about a "liveable" but dated property might be worth considering. When I've been looking, some properties look liveable from photos, but are in fact awful. Others have been looked after, but are just terribly dated. It's also worth remembering that if you're reasonably handy/have relatives/friends you can beg to help you, things like updating kitchens, bathrooms etc doesn't have to be too expensive - entire bathroom suites can be had for a few hundred quid.