Unsure what to do!

samps1973

Thank @MovingForwards

I'm guessing theres many ways of tackling the equity loan payment but it's good to know it can be tackled, that was the main reason I was at first turned off the HTB option and because it was so complicated. I think its important to have professional advice. My adviser specialises in new builds and has been in the mortgage business since 1996, what seemed very difficult for me was easy for him. He deals with everything. When the EA filled out the reservation form which the HTB need to see he picked up on everything they done wrong which would have wasted a lot of time. He even noticed my middle name was missing and they got spellings wrong and a phone number wrong and that they missed certain questions. The equity loan people will reject a form with any mistakes, so getting a professional to help for me was the best thing I have done. It cost me £299 and he also takes a fee from the lender who he works closely with but is independant. He also knows the good and bad with every lender. Hes walking with me through the whole process up until I get the keys, I think I've asked him 100's of questions and hes quick to answer. He'll also help me two months before th 5yr fixed rate is up to see the best deals on the market at the time.

I'm going to use my advisers advice on how to tackle the equity loan but over time things change and the way to tackle it may change too. If others here have any other ideas or if you've been advised other ideas, then please add them here a mix of different ways may be the best way. Between us we will find the most cost effective way.

I've had enough of figures and mortgages for one day. Switching off now 🙂

Thanks all 👍

thegreenone

I've just read your eight week journey from not knowing what to do - to buying a flat!   Congratulations.  I've read with interest as my son is thinking of buying.  

I am not sure if I am able to post links (I have no affiliation whatsoever or details of costs) but wondered whether this wallbed might be useful for when your daughter stays?  StudyBed - Desk and Bed combination - Deskbed  I saw them at the Ideal Home Exhibition a few years ago and thought they were innovative.

samps1973

Thanks @thegreenone

I hope your son finds what he's looking for.

That beds a great idea. Unfortunately because of the shape of the living room it wouldn't really work. I think I'll have to get a good quality normal sofa bed which is easier but if I cant find a good one, as most of them have really thin mattresses, i'll just carry on doing what I'm doing for now which is quite good. They sell cube beds at Argos and I have 2 of them. When you add them together they make a double bed about 15cm deep plus I put a good mattress topper on top as the sponge is quite firm, she loves it and I think it's more comfortable than my bed 🤣 when she goes home, they fold back to cubes and are easy to store.

Thanks for the idea 👍

MovingForwards

@samps1973 I agree about having professional advice, it also saves a lot of stress and time as they do the legwork we merely have to say what we want. It's well worth spending the money and keeping their details for later.

@thegreenone I like that a lot, it would solve my office / spare room how to fit everything in dilemma. Thanks for posting it up!