Topic: The 'Eeeek...buying/saving for a house' thread

[paddysour]

From what you said in an earlier post, I'm guessing you don't have a mortgage agreed in principle? If that's the case, I'd be off to get that sorted before making any offers.

How does that work without knowing how much you're going to pay?

My broker reckons we'll be fine with the houses we're looking at so we should agree a price then come back to him

[rob1966]

How does that work without knowing how much you're going to pay?

My broker reckons we'll be fine with the houses we're looking at so we should agree a price then come back to him

The in principle will let you know how much they are likely to lend you, based on a quick check of your credit score. No point making an offer if you can't get the mortgage to cover it. As Claire is saying, you need to know your budget before you go looking. The bank will tell you the maximum they will lend you, so you then know your price range.

My wife ended up in a similar situation when she was buying our house (she was single at the time) in that she saw the house, wanted it, but the building society wouldn't lend her the full amount. She had to borrow from her brother and her Dad gave her the shortfall from an ISA he had put aside for her.

[paddysour]

Booked in this evening with my broker to get the mortgage in principle sorted

[paddysour]

Worth going straight to your bank too. We tried loads of options and although we're paying a smidge more, Natwest got it sorted miles quicker than the broker would have done and without having to provide masses of paperwork.

My broker seems to think he can get it within a day

[CraigDS]

My broker seems to think he can get it within a day

I'd be amazed given the various checks companies do if he can get it done in a day.

[paddysour]

Yeah turns out he was a little optimistic. Need to email him some documents tonight and he'll submit for the decision in principle in the morning

[gazzam1963]

You can usually get a dip in a really short time but make sure you answer all the questions thoroughly and honestly , my missus is involved in house sales and the amount of people who miss out loans ,ccjs , actual work status and missed payments only ends in disappointment when the full application goes in

[paddysour]

You can usually get a dip in a really short time but make sure you answer all the questions thoroughly and honestly , my missus is involved in house sales and the amount of people who miss out loans ,ccjs , actual work status and missed payments only ends in disappointment when the full application goes in

Is there any checklist online? Fed up emailing already. Thankfully we've no negative history. But I've got silly little accounts like a credit union account with £50 a month going into it. I didn't even factor it in but because it shows up on my bank statement they want to see it, and of course I can't get the statement online so have to call into the branch tomorrow for it. Then take it to the broker to photocopy

[paddysour]

Nah I'm pretty sound with the finances of the mortgage. That's the easy part, I just didn't realise how much of a bollocks getting this agreement would be 


Got it anyway and made my bid. Someone else had bid 98% of the asking so we've gone in with the full amount. Waiting game now

[Claire.]

For all you first timers... http://www.wickes.co.uk/competitions/first-time-buyers-fund 😎

[paddysour]

Thanks for that Claire, fingers crossed!


I've been in a bit of a bidding war with another buyer. We eventually bid more or less our maximum yesterday at lunchtime and we're still waiting on word back. Hopefully they've pulled out

[surfer. Fuck you generator.]

You can verify the existence of the other bidder yeah?

[Red Viper]

Well not really had much movement in the past month. Chased the solicitors yesterday and they said they were still waiting on the contract documentation from the sellers' solicitors. Anyone who's been through the process before got an idea of how much longer it'll be til we get a completion date?

Everything else feels like it's been done. Mortgage application sorted, surveys all done and raised no issues. So yeah, just want an idea of when we'll be moving now.

Two weeks on and still not moved on any further. Starting to get mildly pissed off now.

[CraigDS]

Two weeks on and still not moved on any further. Starting to get mildly pissed off now.

What reason have your sols given for the delay?

[Red Viper]

What reason have your sols given for the delay?

Still not had all the documentation from the sellers' solicitor. They've said they keep chasing them which is about all they can do.

[CraigDS]

Still not had all the documentation from the sellers' solicitor. They've said they keep chasing them which is about all they can do.

Maybe contact the agent to contact the seller to get them to chase from their side.

I remember when I was selling my apartment years ago now the buyers sols were telling mine that their was a delay for some reason to do with the buyer (think said he was away so couldn't provide some docs). Ended up taking the piss so contacted him via the agent and turned out that was all bullshit and his sols were just being incredibly slow. He lit a fire under them after that and it completed pretty quick!

[Red Viper]

Maybe contact the agent to contact the seller to get them to chase from their side.

I remember when I was selling my apartment years ago now the buyers sols were telling mine that their was a delay for some reason to do with the buyer (think said he was away so couldn't provide some docs). Ended up taking the piss so contacted him via the agent and turned out that was all bullshit and his sols were just being incredibly slow. He lit a fire under them after that and it completed pretty quick!

Yeah might give that a go. Funnily enough the agent contacted us before Christmas to see what the delay was so could be a case of both sets of solicitors just being a bit slow.

It's been nearly 10 weeks since we had the offer accepted and with no chain at either end it seems a bit mad that we're not even close to completing yet.

[Claire.]

Yeah might give that a go. Funnily enough the agent contacted us before Christmas to see what the delay was so could be a case of both sets of solicitors just being a bit slow.

It's been nearly 10 weeks since we had the offer accepted and with no chain at either end it seems a bit mad that we're not even close to completing yet.

risky tactic but couldn't you make a small suggestion of pulling out? the other end will want it done as well.

[Red Viper]

risky tactic but couldn't you make a small suggestion of pulling out? the other end will want it done as well.

Couple of mates have suggested doing that but isn't that just going to cause ill feeling? Also I don't think it's a threat we'd be willing to follow up on.

[CraigDS]

I'd save that threat for a couple of weeks time if nothing changes after the agent speaks to the seller.

[paddysour]

You can verify the existence of the other bidder yeah?

Not really 

[paddysour]

What's the best way to find a solicitor btw? Would it be acceptable to gather a bunch of email addresses and send them an email for an estimate of how much it would cost? I just need the basic stuff plus one extra search on a nearby piece of land I'm curious about

[Narwin Dunez]

Two weeks on and still not moved on any further. Starting to get mildly pissed off now.

Mate the contract pack takes about ten minutes to sort out, if that.  It takes longer to print it out and staple it together than it does to create the thing! It's a standard document with gaps for your name and the property address etc

You're being mugged off by the vendors shit solicitors. It's one of the first thing any conveyancer or even their assistant learned to draft. Even the contract terms come in a standard version.

[Red Viper]

Just heard back from the agent. Apparently the seller gave all of the remaining documents (whatever the fuck these documents are) to their solicitor on Tuesday. I mean, it's Friday now so how long does it take to send over some documents? 

[paddysour]

It's not a plumber you're trying to find.

You can probably get a cheap conveyancer in Hull or Aberdeen but it's just not worth it, in my opinion. Hire a practice from the place you're buying in. They'll know the things to look out for locally and will do the correct searches. There may be issues in that area that you may never know about, that a local conveyancer would automatically cover - and something someone in Bradford wouldn't. For the sake of a couple of hundred quid, it's something I wouldn't fuck about with personally.

Yeah I want someone local so I can pop into the office if needs be. I'm in Northern Ireland - I've been recommended a few solicitors but some of them don't even have a website 

A friend of mine completed on his house last month and paid £1020 to his solicitor, would that be a fair guide price to budget for?

[paddysour]

You'll get differing views on it mate. The cheapest quote we got was about £800 from some schmuck in Lincoln, I think it was (after using an online search). But we opted for an established firm where we bought the property. We paid £1400 for everything, start to finish. We took that because there was a guarantee of cost - i.e. any extra paperwork would not be chargeable - so it was nice to know where we stood and it paid off as they were quick, polite and helpful. For my £1400 I probably had 2+ hours of conversations on the phone with them about various things, which would have run to a decent sum had they charged me for it.

However, ours is a 16th century listed property on church land, so there was a degree of complexity to the searches that we weren't willing to risk with a random. But if yours is more simple, then £1000 is fine.

With these kind of things, I get suspicious if something is too cheap.

Cheers mate. You're right about differing view online - it's quite hard to find out any specifics. I like the idea of a set cost from a reputable like you had even if it is dearer.

My main concern is ending up with some useless firm that I need to chase every day.

[CraigDS]

My main concern is ending up with some useless firm that I need to chase every day.

I've yet to meet a solicitor you don't have to chase 

[paddysour]

I've yet to meet a solicitor you don't have to chase 

Don't be telling me that Craig 

[Red Viper]

Chasing solicitors is part and parcel of it.

I'm surprised by how long it's taking for my move but I'm not surprised that I have to keep chasing the solicitors. I work in a firm of solicitors so I know how they work.

[Claire.]

Yeah I want someone local so I can pop into the office if needs be. I'm in Northern Ireland - I've been recommended a few solicitors but some of them don't even have a website 

A friend of mine completed on his house last month and paid £1020 to his solicitor, would that be a fair guide price to budget for?

Your mortgage broker should be able to recommend some. We went with the local one he recommended, can't remember how much it was but they were a big firm and was all quite smooth.

[Narwin Dunez]

Just remember the mortgage broker will get some sort of kickback (although referrals are not allowed now) so it's a mix of what works best for them rather than you.

My solicitor did my purchase for 400+vat and I was done in seven weeks. Big firms will just be a conveyancing factory, which is row after  row of fresh out of college (as in a levels, not uni) kids doing all the paperwork and one solicitor to every six "conveyancing assistants" quality checks every one by casting an eye over it.

Go small and local, check the website and make sure they have a solicitor or a licensed conveyancer doing the work.

[.adam]

I've just checked my invoice and I paid £594 (incl. VAT) for all my conveyancing. Purchase only, NW England.

[Red Viper]

Just heard back from the agent. Apparently the seller gave all of the remaining documents (whatever the fuck these documents are) to their solicitor on Tuesday. I mean, it's Friday now so how long does it take to send over some documents? 

Got the property info and fixtures and fittings form on Monday. Okayed them Tuesday morning. Not heard anything since.

This is like the slowest process in the world!

[scalatore]

Started a new job recently and I work entirely from home, which finally means I can live somewhere where house prices aren't absurd. Honestly never thought I'd be able to own a house, but we're now seriously looking at doing it imminently, and we're even driving up the coast to look at some tomorrow. Daunting process.

I keep finding these pre-MLS listings that seem too good to be true... And they all turn out to be derelict trash houses that need to be demolished and rebuilt. Wish I could train myself out of looking for a bargain, but it just feels like such a huge purchase.

[paddysour]

Thanks for that Claire, fingers crossed!


I've been in a bit of a bidding war with another buyer. We eventually bid more or less our maximum yesterday at lunchtime and we're still waiting on word back. Hopefully they've pulled out

Bid was accepted on Wednesday but I was in Prague until Friday so didn't really progress. It's now been taken off the market, and I've chosen my solicitor. Full application to be submitted tomorrow so hopefully nothing strange pops up. How long does the full app take? It's the same bank we've got the AIP with

[paddysour]

And if anyone can recommend a surveyor in N.I let me know

It's a young house so probably not needed, but I think I'd prefer the peace of mind. Anyone on here bought without having one done?

[Marty 85]

PM chum!

[paul211b]

And if anyone can recommend a surveyor in N.I let me know

It's a young house so probably not needed, but I think I'd prefer the peace of mind. Anyone on here bought without having one done?

Yeah get a basic one with the mortgage offer, i just used that.  Anything else is what building insurance is for..

[Red Viper]

Got the property info and fixtures and fittings form on Monday. Okayed them Tuesday morning. Not heard anything since.

This is like the slowest process in the world!

Latest update: 

[SamAteTheRedAcid]

Latest update: 

testing the strength of your external walls?