Getting a mortgage in the South East

wjr4

henrygregory wrote: »

It certainly sounds as though you have! Chelmsford would definately be too far for us! I hope you are enjoying it there! I bought a little Fiesta from there a few years ago.
I took a look on Santander as you suggested, and it came back with some good options. The more expensive options were the safer ones such as 10 year locked prices. I think they came to around £1500 a month, so really pushing it, but the extra security might be worth the expense.

Saffron Walden is a very good option... not sure if you read The Times? It was again featured in the national news as being a great place to live if you commute to London. But I feel it is marketed at folk earning a lot more than we do! It is nice, but expensive. They do have one available affordable flat there at the moment, but it is only one bedroom with one parking space so far too small for us!

I love Chelmsford, I would have been gutted if I had to move away! It's definitely worth seeing a broker to go through the various options. We have a 2-year fixed rate deal as I think 10 years is too long for us.. but it all depends on your own situation!

I don't read the Times but it does look like a nice place to live! I assume it is quite quiet too? A one bedroom flat with one parking space would send me insane haha I need space!

If I were you, I'd go to a broker to get an affordability assessment done first (I found that online calculators varied too much for us and the end result was nothing like it said on the bank's websites!). Also, have you checked your credit reports to check there are no defaults or missed payments etc.? Ignore the actual 'score' as it is the content that matters. Then check Rightmove daily for properties that you like - I was on there every few hours (rather than getting email notifications and because I had the time). The property we are in now was put on RIghtmove on the Friday at about 5pm, we viewed it the next day (as did about 3 other couples) and put an offer in Monday as we knew it was exactly what we wanted! It did take about 8 months to find a suitable property though!

Hope it all goes well for you!!

henrygregory

rjw4 wrote: »

I love Chelmsford, I would have been gutted if I had to move away! It's definitely worth seeing a broker to go through the various options. We have a 2-year fixed rate deal as I think 10 years is too long for us.. but it all depends on your own situation!

I don't read the Times but it does look like a nice place to live! I assume it is quite quiet too? A one bedroom flat with one parking space would send me insane haha I need space!

If I were you, I'd go to a broker to get an affordability assessment done first (I found that online calculators varied too much for us and the end result was nothing like it said on the bank's websites!). Also, have you checked your credit reports to check there are no defaults or missed payments etc.? Ignore the actual 'score' as it is the content that matters. Then check Rightmove daily for properties that you like - I was on there every few hours (rather than getting email notifications and because I had the time). The property we are in now was put on RIghtmove on the Friday at about 5pm, we viewed it the next day (as did about 3 other couples) and put an offer in Monday as we knew it was exactly what we wanted! It did take about 8 months to find a suitable property though!

Hope it all goes well for you!!

Glad to see you are enjoying it there!
Dunmow could be a possibility, but it is really on the edges of acceptable commuting zone. It took me over three hours to get home last night as there was an issue on the M11. Things like this can have a terrible toll on you when you are driving every day.

Your suggestion of speaking with a broker is a good idea. I am presuming you didn't do it yourself, so might not have one in mind you could recommend?

I regularly check my Credit Report, I have never missed payments and have a good few credit card which I pay the balance on every month, so I should be a perfect mortgage applicant. I have never seen anything on my credit files to arouse concern.

I will keep a keen eye on RightMove and will see what I can do re getting an affordability assessment. Thanks so much for your valuable advice! Enjoy live in Chelmsford!

mrginge

Personally, If I had a job that required 3-4hrs travelling a day and didn't pay me enough to live comfortably in my own house when I wasn't either sat in a car/train or doing the job, then I would be asking myself what the hell I was doing.
Especially if I was also contemplating becoming a father.

henrygregory

mrginge wrote: »

Personally, If I had a job that required 3-4hrs travelling a day and didn't pay me enough to live comfortably in my own house when I wasn't either sat in a car/train or doing the job, then I would be asking myself what the hell I was doing.
Especially if I was also contemplating becoming a father.

I have done many times (though, thankfully it doesn't usually take three hours to get home), but I thought 40k was a pretty good income. Maybe I am wrong? It has got to be more than the average and really should be enough to get a normal home. Not like I am looking for anything that wonderful.

I have worked in quite a niche area and have found it very hard to find a local job that will also pay well but acknowledge my skills and experience.

wjr4

henrygregory wrote: »

Glad to see you are enjoying it there!
Dunmow could be a possibility, but it is really on the edges of acceptable commuting zone. It took me over three hours to get home last night as there was an issue on the M11. Things like this can have a terrible toll on you when you are driving every day.

Your suggestion of speaking with a broker is a good idea. I am presuming you didn't do it yourself, so might not have one in mind you could recommend?

I regularly check my Credit Report, I have never missed payments and have a good few credit card which I pay the balance on every month, so I should be a perfect mortgage applicant. I have never seen anything on my credit files to arouse concern.

I will keep a keen eye on RightMove and will see what I can do re getting an affordability assessment. Thanks so much for your valuable advice! Enjoy live in Chelmsford!

Why do you drive to London, are you not able to go on the train? I hate traffic - I also sit in it every day! Although it is only for about 45-60 minutes which is at my 'acceptable' limit!

We did use a broker as I am an IFA (recently qualified) so I used the mortgage broker at my firm. I may be biased but I really do think it saves time as they do everything for you rather than going to a bank and having a 2-3 hour meeting which I really do not have time for/cannot be bothered to do! I didn't have to pay a fee as our company receives commission from the provider still but I think most firms charge about £500 which I personally think is worth it for a hassle-free (usually) mortgage application. I don't think recommendations are allowed on this website but unbiased.co.uk has lots of advisers on there (we aren't actually on there though!!).

Great news about your credit report! I check it regularly too using free websites like Clearscore and Noddle - always good to check it looks fine!

henrygregory

rjw4 wrote: »

Why do you drive to London, are you not able to go on the train? I hate traffic - I also sit in it every day! Although it is only for about 45-60 minutes which is at my 'acceptable' limit!

We did use a broker as I am an IFA (recently qualified) so I used the mortgage broker at my firm. I may be biased but I really do think it saves time as they do everything for you rather than going to a bank and having a 2-3 hour meeting which I really do not have time for/cannot be bothered to do! I didn't have to pay a fee as our company receives commission from the provider still but I think most firms charge about £500 which I personally think is worth it for a hassle-free (usually) mortgage application. I don't think recommendations are allowed on this website but unbiased.co.uk has lots of advisers on there (we aren't actually on there though!!).

Great news about your credit report! I check it regularly too using free websites like Clearscore and Noddle - always good to check it looks fine!

I did used to take the train but it is incredibly expensive, and actually makes the journey even longer as you have to commute to the nearest station (Bishops Stortford is no good as it is very expensive to park there), then get train, then get tube and reverse for the way home. Secondly, the line I would have to use is incredibly unreliable. Anyone who has used the line will confirm this, it really is just awful. I expect the line in from Chelmsford would be far more reliable, though probably run by the same operator.

The only plus point on using the train is I could get a local govt loan to pay for the ticket, which would make things a little easier, but sadly, I find that it is far more expensive than driving.

Well done on your IFA, I will take a look at that site and have a read through.

I use Noddle each month and I also pay periodically for the Experian one which is slightly more comprehensive and comes to you in the post.

Magpie100

Have you looked at Harlow? We are in Old Harlow and love it - you get a lot more for your money. Still very close to the M11 and depending on where you are you may be able to walk to the station at Harlow Town or Harlow Mill. We found that Bishops Stortford and Sawbridgeworth were far more expensive because they are technically in Herts.

The trains can be irritating but I commute in every day and mostly, it's alright. I'd say it's a toss up between train problems and problems on the M11/M25, to be honest...

henrygregory

Magpie100 wrote: »

Have you looked at Harlow? We are in Old Harlow and love it - you get a lot more for your money. Still very close to the M11 and depending on where you are you may be able to walk to the station at Harlow Town or Harlow Mill. We found that Bishops Stortford and Sawbridgeworth were far more expensive because they are technically in Herts.

The trains can be irritating but I commute in every day and mostly, it's alright. I'd say it's a toss up between train problems and problems on the M11/M25, to be honest...

Hi, thanks for your suggestion. Yes I did look at Harlow, and there were some really good affordable places a year back when I was first looking, but it is too far for my partner. She is at a hospital in Cambridge and does the most awful hours. Last week, four night shifts in a row a day off and then a day on. She can't be driving far, it isn't safe when you are as tired as she is. The hospital in Cambridge is too far from the station so she needs to drive. Sadly, I am the one who has to do the longer commute as I have the job in London and do normal hours.

But you are right, the location is ideal. If ever she moved to PAH, it would be absolutely perfect, but that would be something for the future. Old Harlow is lovely. I have been a couple of times, and really like the area.

Blimey, you use the line every day? You have got guts! I am able to work sem-flexibily so I did have a stint at leaving later and coming home later (which meant I could save on cheaper fares). It was not too bad but found driving was far easier and still cheaper. These days, I tend to leave at 7.30am and come back home at 15.30. Drives in are not great, but leaving in the early afternoon is usually (other than last night) very helpful.

barbarawright

Could not your wife get a job nearer you? As a nurse surely she's pretty employable

dlmcr

henrygregory wrote: »

I have done many times (though, thankfully it doesn't usually take three hours to get home), but I thought 40k was a pretty good income. Maybe I am wrong? It has got to be more than the average and really should be enough to get a normal home. Not like I am looking for anything that wonderful.

I have worked in quite a niche area and have found it very hard to find a local job that will also pay well but acknowledge my skills and experience.

I have to pick up on the point quoted and say that a 40k wage in central London is absolutely dreadful considering the cost of living pretty much anywhere in the south east plus the cost of commutin PLUS the time spent commuting PLUS the horrible rat race feeling all the time and in the long term it is extremely bad for your health to be living in this way. In my opinion it is insane commuting with all it entails for this length of time every day for this kind of salary, maybe if WFH was offered 2 days a week would make it more bearable. I appreciate that 40k is considered a very good salary by many people but really when you factor in the huge costs and time involved and stress in travelling it soon becomes a case of is it really worth it...?