Housies; The Future; fear
Apr. 21st, 2004 01:09 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
kingandyBah.
Apparently the woman who owns the house next to![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
samharber's is demanding an exhorbitant price (twice what Sam and Nook, also in the same street, paid - and it's been on the market for a good while now) and will not budge. She is a fool. The fallout from this is that myself and Ms bacony will require somewhere to rest our heads come July. Anyone know any good letting agencies in Notlob? The plan is to move there and rent temporarily while I (a) build up capital and (b) find somewhere to buy... hard to arrange house viewings when you live the far side of Manchester.
In case anyone's interested, the crazy woman is asking £57K. I suspect I could get a mortgage for that on my salary - just about - but I think I'd want something a bit larger for that much. I know, housies are expensive these days, but it seems daft considering what other houses in that street went for.
It is still tempting though, if only somebody would sort out the administration... and give me a big pile of cash.
Apparently the woman who owns the house next to
samharber's is demanding an exhorbitant price (twice what Sam and Nook, also in the same street, paid - and it's been on the market for a good while now) and will not budge. She is a fool. The fallout from this is that myself and Ms bacony will require somewhere to rest our heads come July. Anyone know any good letting agencies in Notlob? The plan is to move there and rent temporarily while I (a) build up capital and (b) find somewhere to buy... hard to arrange house viewings when you live the far side of Manchester.In case anyone's interested, the crazy woman is asking £57K. I suspect I could get a mortgage for that on my salary - just about - but I think I'd want something a bit larger for that much. I know, housies are expensive these days, but it seems daft considering what other houses in that street went for.
It is still tempting though, if only somebody would sort out the administration... and give me a big pile of cash.
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Irwell Valley Housing Association
Date: 2004-04-21 05:24 am (UTC)Anyhoo - Irwell Valley Housing Association (main site):
www.irwellvalleyha.co.uk (http://www.irwellvalleyha.co.uk)
Irwell Valley rented property site:
www.irwellvalleyhomes.co.uk (http://www.irwellvalleyhomes.co.uk/)
no subject
Date: 2004-04-21 05:31 am (UTC)To get a mortgage on that you would be on about 14k
You will get 3.5 ish times your mortgage, even on 100%
House prices are going up a lot, the woman is probably only asking the going rate and if Sam or Nook sold their houses they would get similar costs.
Me, I am looking at 85k for a 1 bed flat, stop whining 57k for a house is a bargain ;)
Re: Irwell Valley Housing Association
Date: 2004-04-21 05:38 am (UTC)no subject
Date: 2004-04-21 05:40 am (UTC)The annoying thing is it's not a huge house - fine for one, but pokey for two. And I'm not sure I have enough time to get it through before we have to move out...
And I don't have enough money for surveyors and furniture.
And it frightens me.
Re: Irwell Valley Housing Association
Date: 2004-04-21 05:49 am (UTC)no subject
Date: 2004-04-21 06:18 am (UTC)It's the fright that holds you back most, because it is a huuuuge step to take, but one you're thankful for when you realise you've been paying off some of your capital rather than putting it in the pocket of an evil landlord. The amount you would save on rent by paying the much reduced repayment on your mortgage would help to buy furniture and/or pay off any money you might borrow to help with solicitors fees etc. On a house of that value you wouldn't pay stamp duty either (normally 1%). You can get mortgages that only ask for 5% deposit now, and if you're really struggling you can get 100% mortgages, they charge a fee but this is added to the mortgage so you don't have to fork out any money outright, and you can always wait a couple of years and then move if the deal isn't fantastic.
Anyway, all I can say in this time of stupid house prices if you get an opportunity to get on the property ladder, do it. When we were first thinking of buying all the reports said there was going to be a slow-down and to wait. Nearly 3 years later I'm glad I ignored them.
Motherly advice suspended...
no subject
Date: 2004-04-21 06:20 am (UTC)Will mope around about the idea tonight, see shat she says.
no subject
Date: 2004-04-21 06:36 am (UTC)Re: Irwell Valley Housing Association
Date: 2004-04-21 06:41 am (UTC)Paul rented with them for several years and had no problems with them. He was even allowed to decorate and own pets (a dog and later a cat).
no subject
Date: 2004-04-21 06:44 am (UTC)Re: Irwell Valley Housing Association
Date: 2004-04-21 06:46 am (UTC)no subject
Date: 2004-04-21 07:11 am (UTC)no subject
Date: 2004-04-21 07:30 am (UTC)I think she wanted me to buy a house so that I could finally remove my piano from her living room. Unfortunately her plan was foiled when I bought a house that it wouldn't fit in.
How much is your combined rent at the moment? I will try and put my numbers head on and work out some comparison figures for you so you can see if it's even worth thinking about.
no subject
Date: 2004-04-21 07:34 am (UTC)We couldn't really live together in that widdle house for very long though. Unless, um, maybe we could.
I don't know. I can't remember what Katy's last word on the subject was ...
no subject
Date: 2004-04-21 07:50 am (UTC)no subject
Date: 2004-04-21 08:12 am (UTC)(Though I don't think I can afford that and loan repayments unless I get a better job.)
no subject
Date: 2004-04-21 08:24 am (UTC)However, Andy - listen to
no subject
Date: 2004-04-21 08:32 am (UTC)A 20 grand rise is not normal.
The house should be worth about 45k or so.
no subject
Date: 2004-04-21 08:34 am (UTC)no subject
Date: 2004-04-21 08:34 am (UTC)I'm just saying that 57k is unreasonable for my street.
no subject
Date: 2004-04-21 08:39 am (UTC)Terraced, 2 bed, reception/lounge, kitchen, store. yard to rear, double glazed, central heating.
57k's about the start point.
Look in the estate agents 'round your way and see what similar properties are going at....
no subject
Date: 2004-04-21 08:47 am (UTC)no subject
Date: 2004-04-21 08:54 am (UTC)(Read: Being vacant for over a year since one of the last occupants - two males, different surname, double bed - died there.)
Also Nook's was substantially more of a fixer-upper. As far as I gather.
Re: Irwell Valley Housing Association
Date: 2004-04-21 08:54 am (UTC)no subject
Date: 2004-04-21 09:00 am (UTC)Re: Irwell Valley Housing Association
Date: 2004-04-21 09:02 am (UTC)Location, location, location!
no subject
Date: 2004-04-21 09:21 am (UTC)no subject
Date: 2004-04-21 10:16 am (UTC)If it helps, I now work for a conveyancing firm, and have a handbook detailing the entire process that you are welcome to see. I can even get you a quote...
no subject
Date: 2004-04-21 10:23 am (UTC)no subject
Date: 2004-04-21 11:16 am (UTC)I don't know if Sam's offer of storage space was in general or specifically because we would have been renting from his company though ... Sam?
no subject
Date: 2004-04-21 12:24 pm (UTC)Mortgages are so much cheaper than loans.
In fact you can get Current Account Mortgages that allow you to lump everything together, which as long as you're not a complete idiot means you can pay your mortgage back much earlier.
The minimum you can borrow is £50k, so it should be ok for you...
no subject
Date: 2004-04-21 01:14 pm (UTC)This is, in fact, the major stumbling block. I am paralysed by not having done anything remotely similar at any point in my life. Who does these things? Where do they live? Why doesn't all just magically appear in front of me? Etc, etc.
no subject
Date: 2004-04-21 01:30 pm (UTC)no subject
Date: 2004-04-21 02:06 pm (UTC)no subject
Date: 2004-04-21 02:53 pm (UTC)no subject
Date: 2004-04-21 02:59 pm (UTC)Confusled!
no subject
Date: 2004-04-21 03:17 pm (UTC)no subject
Date: 2004-04-21 03:21 pm (UTC)Who's your solicitor?
Will you do it for me?
no subject
Date: 2004-04-22 12:59 am (UTC)no subject
Date: 2004-04-22 01:50 am (UTC)no subject
Date: 2004-04-22 01:56 am (UTC)Are you around this weekend? If so we could meet up and go through things so you know what's involved?
I have a band job at 7 on Saturday but other than that I'm free.
no subject
Date: 2004-04-22 02:24 am (UTC)no subject
Date: 2004-04-22 02:52 am (UTC)Re: Irwell Valley Housing Association
Date: 2004-04-22 05:22 am (UTC)Lawyer here!
Date: 2004-04-22 11:22 am (UTC)Jo's £600 including VAT and Disbursments for solicitors fees for a buyer is VERY reasonable. We charge £525 plus VAT and Disbursements. Disbursements alone on a purchase will be around £150 to £200. There is no stamp duty below £60K. Oh and a survey is more on top of that - reckon on about a grand and a half for a decent job - don't get the valuation one, it tells you naff all, get a full survey.
You can get 110% mortgages, but I advise against it. If the housing market falls back a little (already happening in bits of London) then you're stuffed, especially if interest rates go up and you can't make the payments. Plus, I think you have to be 'special'. I could get one, but I have already sold my soul to a bank on another matter.
no subject
Date: 2004-04-22 11:24 am (UTC)no subject
Date: 2004-04-22 11:31 am (UTC)no subject
Date: 2004-04-22 12:06 pm (UTC)Will there be a flat warming? Can I invite myself to it?
no subject
Date: 2004-04-22 12:16 pm (UTC)And anyone can come :)