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Looking to buy my first house

Discussion in 'Personal' started by impulce, Oct 4, 2010.

  1. Weve had a quote through the IFA and also through the estate agent - one for £770 and one for £1100!! Will ring a few companies tomorrow.
  2. I think our estate agent fees ended up coming in at around £1700
  3. P.issd as I am , even I know HIPs have gone.
  4. Well we've had the survey done on the house (mortgage company are being incredibly fussy and keep demanding more paperwork etc) and the survey has come back saying he found the possibility of damp in an outside wall. They're asking for a Timber and Damp report to be done.
    Is this something I pay for, or can I request the vendor pay for this/at least half the price with me?
    Do I arrange it or does the vendor arrange it?
    If it comes back saying there are problems, what do I do then - try and knock them down on price etc?
    Im concerned as even if it comes back saying theres a problem and I know the price of the house down - I still wont have the funds to do the work needed straight away and surely this means I wont get my mortgage?
    I can see how this is one of the most stressful things - all the waiting around for various companies to do their jobs and then one stress after another!
  5. lurk_much

    lurk_much Occasional commenter

    Timber and damp reports are normally free, unfortunately that is because the companies providing them will be getting some work out of it if they find a problem, which means they often find a problem. Peter Cox springs to mind, but there are dozens, ring a few up and see what they say.
    Assuming the report(s) find something, you may find the mortgage company are happy for you to accept your promise to get the work done, and as it might not actually need doing... I haven't bought for a while and things may have changed, ring them up and ask?

  6. lurk_much

    lurk_much Occasional commenter

    doh, too little sleeep, the man flu is really debilitating, we should kill all scientists for not curing the <strike>common cold. </strike>life threatening discomfort.
  7. Thanks Lurk.
    The cynic in me is concerned that the mortgage company are just finding reasons not to give us a mortgage - we've been accepted and then later turned down by one company so far for a ridiculous reason and this company seem to be making us jump through all sorts of ridiculous hoops. Our IFA says he thinks they are cherry picking who they give their mortgages to. They've even written to our employers.
  8. lurk_much

    lurk_much Occasional commenter

    Go on, lend me a hundred thousand pounds, it isn't much really, I am good for it, honest, I have seen this old house I fancy, no worries, you can't lose. --- A compelling case.
    Getting a mortgage at all is a prettty big deal. It turns you from chancer to solid citizen. Every mortgage after this one will be a piece of cake to get. Stick with it. You could approach some mortgage companies independently, see what they say. I seem to remember your IFA was full of it from a previous thread. Don't take any notice of him whatsoever.
  9. Ah stressful but exciting times!
    Just one thing about approaching mortgage companies independently. make sure you know at what point they do a credit check on you so you can say no if you want to. Lots of credit checks does not look good to a prospective mortgage lender. I.e could make you look a bit 'dodgy' !
    best of luck!
  10. Too many credit checks in a short space of time could write off your potential of getting a mortgage full stop until 6 months have passed without any at all.
    Yes, mortgage providers are cherry picking at the moment. They are being very stringent with the criteria for being able to take out a mortgage. I can only sympathise, we went through similar with our 10% deposit suddenly needing to be 25% or no mortgage from anybody.

  11. Yep PFF - The original survey flagged it and they requested a damp and timber survey, which was then done by Timberwise. They have come back saying there is some evidence of rising damp and quoted us just under a grand to fix and replaster the affected wall. My OHs colleagues (he works in a architechtural design company) have said that they are probably just grabbing any work they can get by making out the damp is worse than it is - one of them looked around it for us before we offered and said he hadn't seen any evidence of damp, so it is obviously in its first stages.
    Im just so pleased its finally going somewhere!

  12. Jolly good [​IMG]
    Have seen far too many horror stories of people who bought homes naively thinking the damp would be easily fixed and ending up having to fork out a fortune.
    Hope the process starts to get moving a bit more for you now.
  13. Yep! Ive had about 3 trees worth of paperwork through the door and just hope im filling everything in correctly! Life insurance is sorted, buildings/contents is next on the to do list.
    We're hoping to overlap with this house we rent for a couple of weeks to move gradually (And not to stress out my much-loved pusscats!)...but considering the house we're buying is around 30 metres away, it shouldn't be too hard!
  14. How are things progressing Impulce?
  15. Aw how nice of you to ask!!
    They've come to a bit of a standstill - we've basically done all the paperwork needed on our side, and when we rang this week solicitors were waiting on a few details from the vendors solicitors. Will ring this week again to chase it up.
    Im buzzing today because I won &pound;420 to have the damp problem sorted out which REALLY helps and saves me borrowing money from my parents :)
    Im hoping to have a completion date in the next week or two - once a completion date is decided, do you know how long it normally is away?
  16. [​IMG]I demanded that we exchanged and completed on the same day. They couldn't really argue as we were moving in to a new build and had absolutely no chain!
    Solicitors will always blame a hold up on someone else
  17. I have a moving date!! Wooo!!
    They are exchanging next Thurs, and we are collecting keys on Fri. It couldve been sooner but mortgage company demand buildings insurance info 7 days before so ive arranged that tonight and am ringing solicitor with the details tomorrow.

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