Help with very spontaneous decision to buy shared

hazyjo

Good luck Sounds like a much nicer flat.

Hansaro

Thank you all! As a lurker I can say that this community and forum is one of the best in UK and one to fit my profile. I even got a tennis avatar and I am crazy about tennis


So today at financial assesment I was told that because my deposit is higher than the minim 10% for the share they have to increase the share percentage proportionally, so it went to a 45% share which fits me quite well. I thought that I could get 30% and bump the deposit so my mortgage is lower, but this works the same by reducing my rent and it is more future proof.
Also with this, seeing how the calculator works, (I have the Excel HTB one but not the Share one which is more flexi) I have realised amazed that if I had £100 net more in monthly income (30K pa) I would have qualified for the 2 bedroom apartment, only just... but have to take that of my mind and leave it for the future when it will actually make sense (like a semi detached family house in the North when I will start a family). What can you say, I am always obsessed about getting the best deal.
Will go with their advice about the mortgage lender and pay the brokerage fee, will feel better to know that someone who is a knowledgeable handles my paperwork properly, I can't trust myself at this stage.
Santander with 2 years FR at 1.94, after that SVR 3.75 but no set-up fees and even potential cashback. Both Equifax and Experian are looking spotless at Excellent level. AIP application has been sent today.
Now next stage is something I have noticed I was recommended here: selecting my own solicitor. I was given a small list with companies/solicitors that work with this IFA but I am free to perform my search. I have to do that on my own before Tuesday.
What should I look for? just select the cheapest one from total cost of all fees? Call all + others and compare?


Got the HTB maxed out as much as possible to date as well and that will come in handy. Fingers crossed, this step by step approach will get me to the final bit.

Hansaro

csgohan4 wrote: »

you get more for your money in Winterfell than in King's Landing

That's a rough area, many were beheaded and a war is on it's way. I'd rather have the Dorne, but if I'll have 3 daughters I'll stay put.

Hansaro

Hey all, I am in the solicitor jungle and need some clarifications please. With this online sites like myhomemoveconveyancing.co.uk on the initial free quote, they ask me to put the purchase price. When it comes to SO should I put the full price or just the share value I intend to have a mortgage on? Any other differences should I be aware of that impacts me as a new buyer with SO? Just been quoted by the site above £1780, still haven't compared it with anything else out there, is this a good rate?

Pixie5740

Hansaro wrote: »

Hey all, I am in the solicitor jungle and need some clarifications please. With this online sites like myhomemoveconveyancing.co.uk on the initial free quote, they ask me to put the purchase price. When it comes to SO should I put the full price or just the share value I intend to have a mortgage on? Any other differences should I be aware of that impacts me as a new buyer with SO? Just been quoted by the site above £1780, still haven't compared it with anything else out there, is this a good rate?

Have you applied for a mortgage yet? Ideally you want to use a solicitor who is on your lender's recommended panel or you could end up paying two sets of solicitor's fees.

No idea if £1,780 is good (sounds high to me) as I live in the True North on the other side of the (Hadrian's) wall where buying and selling property is [STRIKE]a lot more civilised[/STRIKE] different.

Hansaro

IFA has sent the application for AIP, they have suggested I should have a solicitor by Tuesday the latest.
The application will be with Santander. I guess I can ask if they are on the panel.

JoJo1978

Sounds high to me, that's above what we paid for our high street solicitor to do a purchase AND a sale. I do know that leasehold is more complex conveyancing work, but my gut feel is that's too high a quote. I'd ring round a few places you find and research yourself as well as getting the online quotes.

Hansaro

yup it looks like so..they have just sent me an email offering £240 off if I send my details today. They were recommended around here, might work better for others though