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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.First time buyer: one bedroom in London
Comments
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I wouldn't buy the first one because it has an open kitchen which is a fire hazard.
The one that Jimbog mentioned in # 9 is much better because it has a self contained kitchen with a door that can be closed.0 -
I was just a bit concerned about the conditions of the outside of the building (a bit old) and also i noticed some cracks here and there on the inside walls.
If you know the area then you'll know about what happened to the upstairs flat in a very similar building 5 mins walk away in Uxbridge Road a few years ago:
https://www.youtube.com/watch?v=VNXG-Id_jKcGather ye rosebuds while ye may0 -
I'm checking mortgages options with Habito, what's more convenient from your point of view a fixed or variable interest rate?
Also, why would it be better to get a mortgage through a broker instead of me directly approaching the bank?0 -
Because lenders have various opaque criteria in relation to what kind of properties they will lend on (and whom they will lend to) and a broker would be expected to recommend the most appropriate lender and product for your particular circumstances.
They only get paid a fee from the lender (which is the major part of their income) when your purchase completes so they wouldn't recommend something unless it stood a good chance of succeeding.
Habito is a good first step (no fee, no commitment, etc), it would be great if you could keep the thread updated with what they recommend in relation to this particular property.
You could of course try selecting lenders and applying directly, but I would not recommend it for a flat above commercial.Also, why would it be better to get a mortgage through a broker instead of me directly approaching the bank?0 -
why would it be better to get a mortgage through a broker instead of me directly approaching the bank?0
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Because you might keep on approaching banks who aren't interested in lending on this type of property (or perhaps, aren't interested in lending to you). Brokers know their way around these sorts of criteria.2023 wins: *must start comping again!*0
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I registred with Habito and apparently the max I can lend is 111k which doesn't cut of. I'm looking for 200k.
I don't have a huge income and I guess everyone is a bit skeptical when I mention I'm an Self-Employed artist :S0 -
Ah, self employed to boot. You most definitely need a broker then.
While it is very unlikely that 111k would go up to 200k, I would definitely take a second opinion from another broker as free online brokers are (to put it mildly) not known to be the best when it comes to anything slightly complicated.
If you're up to it, maybe put more details in a new post on the Mortgages forum section re your income, employment type, etc and the resident brokers on the thread could give a high-level opinion on how much you could *potentially* borrow.I registred with Habito and apparently the max I can lend is 111k which doesn't cut of. I'm looking for 200k.
I don't have a huge income and I guess everyone is a bit skeptical when I mention I'm an Self-Employed artist :S0
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