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First Time Buyer - Help Needed!!!
Comments
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What on earth were you plannking to use your savings for? It is daft to take out a 100% mortgage if you don't need one, even when the market is good.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000
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There's nothing stopping you putting a cheaky offer on a property if you really love it!! The worst they can say is no. Have you got a 10% deposit?
100% are and always were a stupid idea, as those not capable of saving a deposit shouldn't have been buying a house. These are generally the people who are now getting repossessed.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 -
those getting repossessed force prices down so Neas can get his nice home... Muhah
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I am fully aware that it makes more sense to use our savings as a deposit and the reasoning behind it. Fortunately have been sensible enough to have saved enough for a deposit but we had originally hoped to use the money to fully furnish our new home and to contribute towards our wedding.
The idea of offering at least 10% below the asking price is a good one - if i see something i fall in love with then i'll definately bare that in mind but i think in light of all the previous comments that we will hold off for 6 months and re-asses the situation then.0 -
looking round i just cannot bring myself to pay a huge sum of money for the "slave boxes" that are maskarading as houses when in reality they are nothing more than rabbit hutches...when they are 30 to 40% less sometime soon i will still feel that anything bult in the last 20 years are a poor choice considering the quality of them... i am after a 4bed detatched but christ why oh why are the fourth bedrooms like goldfish bowls?It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
No-one needs a fancy wedding. No-one needs brand new furniture for their first house. What worries me (yeah, am grumpy today) is that if this is an indication of your priorities now, are you at risk for taking out equity the moment the house goes up in value. If you buy a house, paying it off must be your priority for a long time. Debt costs. To add to your debt in order to have a pretty dress, an expensive photographer and a holiday just seems absurd to me.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000
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