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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Landlord wants to sell
Comments
-
Ok... let's start with the basics.
A. How much do you earn between you?
B. How much do you have saved up?
C. Do you have any debts? (and how much if yes?)
D. What is the house worth?
If B > 0.1 x D and 5 x A > D then it could be a good starting point to purchase.
What has stopped you purchasing so far in life? Why have you not saved much?Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
https://forums.moneysavingexpert.com/discussion/5582470/landlord-wants-to-sell-given-us-first-option#latest
OPs previous thread from 2017 gives more background details4 -
If it didn't go on rent, then it would have gone on mortgage interest + repairs. Still not available to be used to buy capital in the house. The total rent is really irrelevant here.diddly74 said:
I mentioned it only because I wish that we could've used that money to buy the house years ago. But unfortunately my husband and I haven't been in such a position. The act of typing these sentences out and asking questions is part of my process to working through this nightmare and unsettling situation we find ourselves in.diggingdude said:Why do people always point out what they have paid in rent? The rent is to have somewhere to live, it isn't a deposit on a property
Getting that phone call Friday, out of the blue, has upset my balance and plans I had for next year on. I am having to reevaluate as well possibly enter into the mortgage market legal arena that I haven't had to navigate in over a decade. Things have changed, and I was looking for, and have received, some advice, support and things I haven't thought of in my panic.1 -
dimbo61 said:What is the EPC rating as you pay the bills ( needs to be E or better to rent )
No, it doesn't - a landlord can apply for an exemption if the property is rated higher than E.
0 -
Belleofthebooks said:https://forums.moneysavingexpert.com/discussion/5582470/landlord-wants-to-sell-given-us-first-option#latest
OPs previous thread from 2017 gives more background detailsSo actually you have had several years to think about it - and from the fact you do not seem to have been working towards getting into a good position to buy the house I would think that it isn't actually a priority and something you actually want to do.Seems like your best position might be if your current landlords sold to another landlord - it is something to discuss with them if they might try this. But they may not find someone easily.But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll2 -
They’ve mentioned they rented the property through 2 landlords. I’m assuming that this is the second who bought it off the first???
Stashbuster - 2014 98/100 - 2015 175/200 - 2016 501 / 500 2017 - 200 / 500 2018 3 / 500
:T:T0 -
Beats me every time.diggingdude said:Why do people always point out what they have paid in rent? The rent is to have somewhere to live, it isn't a deposit on a propertyInitial mortgage bal £487.5k, current £238k, target £122k (quarter way!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
To save £100k in 60months start 01/01/2027
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓0 -
The rent you have paid over a decade is not relevant.
the landlord will need to get the property valued and set a sale price, might get some discount but won’t be very low to the market rate.
you need to sort out deposit and see if you can indeed get a morrgage, affordability etc.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards