Nervous first time buyer!

kjelyse

I had an offer accepted on the house of my dreams last week, 200+ miles away from where I'm currently renting in London. I've got my solicitor in place, the homebuyer's report is being done on Monday, and yesterday I sent off a bunch of payslips and bank statements to my mortgage underwriter.

Everything is going well so far but I'm so anxious it's almost funny! It's the mortgage that's stressing me out most of all - 10% of my deposit (which is, funnily enough, 10% of the total cost) was a gift from family. I've been up front about that with the lender, though, so hopefully (hopefully) that'll be okay. I earn a decent salary and don't have any debt aside from my student loan.

Anyone else in a similar position? I'd love to chat with other first time buyers! Or anyone at all, really; it's weirdly lonely going through all of this by myself.

KcEliMa

Yes!!!
Me!

I’m so stressed/ anxious/ nervous it’s beyond a joke 😢 
Which part has you more nervous? 

Mine is proving my income. 100% of my income is benefits, my husband is the sole ‘earner’. My benefits recently increased to reflect that I no longer work (lost my job last year and now full time home educate both our children, who are autistic). My bank statements aren’t showing my increased amount, but my award notice does. Broker said everything’s in order, but we’ve been so lucky so far, I’m CONVINCED our luck is about to run out. I literally can’t think about anything else. And the broker hasn’t even completed the application yet! This is going to be a looooooong few weeks 😢 
66% of our deposit is gifted. We’ve sent off the letter of gift today. 
Are you moving due to job? Anything inparticular worrying you? It is completely normal to worry! But it’s not a nice experience, is it?

kjelyse

I'm so nervous and worried about everything it's all blended in together! It's not nice at all; I've been finding it harder and harder to concentrate on my work. That said I'm super lucky that I can work from home and have a flexible employer. I'm moving to be closer to family.

I ended up not going with a broker and I'm worried that's going to end up working against me. All my fingers (and my toes) are crossed that it'll be okay. Fingers crossed for you, too! Let me know how it goes. 

ChloeManoey

I'm also a first time buyer doing it on my own! It is scary isn't it. And strangely lonely too. I've waited such a long time and cried and sobbed because I thought it would never happen, and now that it is, it almost doesn't feel real?! 

One step at a time, and for a lot of the time the work is going on in the background, once you've set the solicitor on the job! Everything is moving slower than usual which in a way is quite nice, gives you time to work out what on earth you're doing!

kjelyse

Where are you in the process, Chloe? 

FTbuyer18

Hello.... FTB.... buying alone... offer accepted this morning... NERVOUS and convinced something will go wrong. Would love to join you for the ride. I am meeting estate agents monday and my broker tuesday to hopefully get the ball rolling!

KcEliMa

I have a broker &, admittedly, do t know what I’d do without him. He’s trying to reassure me my paperwork is fine, as he had to complete the compliance for the paperwork so wouldn’t send it unless it passed his needs, but I’m still so terrified. My husband wants to talk about “when we move in...” all the time, but I can’t do it. There’s no excitement in me whatsoever. I can’t move my mind beyond the here and now. At least, even though he doesn’t understand, I do have him to kinda talk to. But if you need to vent and unload all your worries, I’m sure we’re all willing to listen (I certainly am) as it’s so nerve-wracking. 

This, for us too, is our dream home & the circumstances around our offer being accepted have been bizarre in the best way. Luck has favoured us so far, I struggle to believe luck will remain on our side 😢 

kjelyse

I sent my documents to the YBS underwriter on the 22nd and I'm trying so, so, so so hard to be patient ...
Keep having to remind myself that it's only been three working days! The YBS website suggests that they usually accept or decline in 10~15 days. 

han_nah95_2

Hiya  
You sound exactly like I felt haha!
I was a first time buyer and completed on our house back in 13th May! 
I'm happy to join the ride with you incase you have any questions I can try and help....
Our purchase went through quite quick, at about 10.5 weeks 
Good luck to you all xx 

amnez

First time buyer here as well... I have honestly dreamt of all the different scenarios that could tank the process.
My application is with Nationwide and they will confirm valuation date by the end of this week. DIP on the 12th of May and full application on the 20th of May. I'm so nervous and mentally checked out of my current place

kjelyse

Thanks all! When I first decided to go for the house I decided to keep it a "secret" from everyone I know just in case something went wrong ... bad idea! It only made me so much more nervous. It's reassuring to have other people in the same boat with me who I can chat with. 

Amnez, I feel your pain! Hopefully we'll both have mortgages approved before too long.