First Time Buyer
AIP 18/02/2020 - Full Application 25/02/2020 - Valuation - 16/03/2020
17/03/2020 - Mortgage Offer Issued
23/03/2020 - LOCKDOWN
19/06/2020 - Exchange of Contracts
07/08/2020 - Officially Homeowners
We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying a property with 106 agreement
JW96
Posts: 9 Forumite
Hi,
Just curious if anyone has any experience of buying a property with a 106 agreement?
The property we are looking at is in the Stratford-Upon-Avon district and is on the market at 60% of value (it is 180k).
Does anyone have any info as to the criteria you have to fit as a buyer?
We live in the next village over but the estate agent said the 106 means only those in the actual village it is for sale can apply for 3mnths then it's opened to the market. They are 8 weeks down the line and he said if we applied and were accepted now then it'd be fine as the 3mnths would be up by the time everything was sorted.
Another query - anyone had issues with getting a mortgage?
Our combined salary is about 50k
I have heard it can be difficult and my partner also has a default from a couple of years ago around the £1400 mark (all paid off)
Just curious if anyone has any experience of buying a property with a 106 agreement?
The property we are looking at is in the Stratford-Upon-Avon district and is on the market at 60% of value (it is 180k).
Does anyone have any info as to the criteria you have to fit as a buyer?
We live in the next village over but the estate agent said the 106 means only those in the actual village it is for sale can apply for 3mnths then it's opened to the market. They are 8 weeks down the line and he said if we applied and were accepted now then it'd be fine as the 3mnths would be up by the time everything was sorted.
Another query - anyone had issues with getting a mortgage?
Our combined salary is about 50k
I have heard it can be difficult and my partner also has a default from a couple of years ago around the £1400 mark (all paid off)
0
Comments
-
I would consider going through a mortgage broker who will have access to the whole of the market - they will be able to put you in the right directionJW96 said:Hi,
Just curious if anyone has any experience of buying a property with a 106 agreement?
The property we are looking at is in the Stratford-Upon-Avon district and is on the market at 60% of value (it is 180k).
Does anyone have any info as to the criteria you have to fit as a buyer?
We live in the next village over but the estate agent said the 106 means only those in the actual village it is for sale can apply for 3mnths then it's opened to the market. They are 8 weeks down the line and he said if we applied and were accepted now then it'd be fine as the 3mnths would be up by the time everything was sorted.
Another query - anyone had issues with getting a mortgage?
Our combined salary is about 50k
I have heard it can be difficult and my partner also has a default from a couple of years ago around the £1400 mark (all paid off)
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards