First Knockback!!

Captain_Mainwaring_2

Lotus-eater wrote: »

Why don't you try saving it, like most of us do?

Saving it, SAVING IT! I want it now

Because people don't save, and worse, don't take stuff like credit card debt seriously.

[Deleted User]

danksybaby wrote: »

Quick update...its not fraudelent so the seller has accepted my offer to up the price of the house so that once the deposit comes off she is still getting what she wanted. that means that the house is £122000 but i only need the mortgage for £110,000.

it isnt fraudlent as it has already been on the market at £126,000 and she dropped it last month to £115,000

just updating this as a lot of people thought it was fraudelent.

I would just forget about the scheme and make a deal the traditonal way. Not only you'll have to pay your solicitor more for adding a clause to the contract, but what will you do when the survey you pay for tells you that the house is worth less? You are throwing money down the drain, me thinks.

minimike2

The problem will be the valuation.

Valuers are downvaluing 5% on most gifted deposit applications at the moment, and in 99% of cases on new builds.

The lenders will not want the practice spreading into the resale market and so do not be suprised if the property is downvalued by the amount of the gifted deposit.

geoffky

This will end in tears..i would bet on on it.....

danksybaby

Just a quick reply to say thankyou for all your support.:rolleyes: :rolleyes:

Dinah93

danksybaby wrote: »

Just a quick reply to say thankyou for all your support.:rolleyes: :rolleyes:

Danksybaby, please understand people aren't here to be supportive or unsupportive, they are here to save you money. Trying to wrangle the figures to get a mortgage in a falling market is more than likely going to cause you unnessisary financial and emotional heartache, and unless this is your absolute one in a million dream house, pull out, save the deposit, and by the time you do you may find that the 10% deposit you've saved is actually now equal to 20% on the same house, which means smaller mortgage, smaller repayments, more flexibility for you if things get tight.

Best wishes in whatever you choose, Dinah

Kez100

danksybaby wrote: »

anyone know how to make a quick £5000 lol.

rang estate agents last night and that is something they cant do.

im completely new so didnt realise what i was asking but i dont see how its wrong for a seller to up the price of their house if you see where im coming from.

i can now see it would be cheating the books but that was my 1st attempt at getting a house so i hold my hands up and say i did it wrong lol.

so anyways, back to my 1st question, anyone know how to make a quick £5000 LEGIT lol

Walk away from that property and find another. Leave the lower offer on the table if you wish but keep looking and let the fall of 5000 come to meet you.

danksybaby

Dinah93 wrote: »

Danksybaby, please understand people aren't here to be supportive or unsupportive, they are here to save you money. Trying to wrangle the figures to get a mortgage in a falling market is more than likely going to cause you unnessisary financial and emotional heartache, and unless this is your absolute one in a million dream house, pull out, save the deposit, and by the time you do you may find that the 10% deposit you've saved is actually now equal to 20% on the same house, which means smaller mortgage, smaller repayments, more flexibility for you if things get tight.

Best wishes in whatever you choose, Dinah

i apprreciate what your saying but there are ways and means to go about things and some people are so far up their ***** they hate someone to disagree with them...i.e the buyers...who are then called morons because they want to buy into the market at this present moment in time.

[Deleted User]

Can you tell me who called you a 'moron' here, because I can't see it? You should be grateful that people gave you honest advice instead of telling you what you want to hear. And you did not thank anyone either, now who is up their *****?