Is anyone moving now?

[biggbn]

Maximus_Meridius101 said:

biggbn said:

Will be my first mortgage, house we are in is my partners, and even that was bought from council when we had been tenants for several years so the whole house hunting is new to us both.

Be aware that most lenders won’t lend past your 65th birthday. If you’re mortgaging, you will have a shorter time / higher cost mortgage than most people.

Yup, looking at a 13 year mortgage, although Nationwide has given me an approval in principle on a 15 year one.

[tracer.smart]

What are EA’s charging to sell places at the moment? A mate is flogging his place at £1.5m, EA is charging 0.75%. Last time I sold, the fee was 1.5%. It seems there is little good quality stock being listed, so I guess competition amongst agents is very high?

[nammynake]

Does anyone know of a decent mortgage calculator, preferably in Excel or failing that a web-based one? I need one that can accept sub-accounts as we are mortgaging two sub-accounts on potentially separate rates (staff preferential) but it also needs to include a BIK calculator to understand the net BIK vs. interest.

[Flooble]

Maximus_Meridius101 said:

biggbn said:

Will be my first mortgage, house we are in is my partners, and even that was bought from council when we had been tenants for several years so the whole house hunting is new to us both.

Be aware that most lenders won’t lend past your 65th birthday. If you’re mortgaging, you will have a shorter time / higher cost mortgage than most people.

Given that youngsters have state retirement ages of 67 - 70, why 65? Or was that specific to the guy who is over 50?

[surveyor]

Flooble said:

Given that youngsters have state retirement ages of 67 - 70, why 65? Or was that specific to the guy who is over 50?

I'm a toy boy (nearly). My wife is over 50. Skipton took her income to retirement age, 17 years.

[biggbn]

Flooble said:

Maximus_Meridius101 said:

biggbn said:

Will be my first mortgage, house we are in is my partners, and even that was bought from council when we had been tenants for several years so the whole house hunting is new to us both.

Be aware that most lenders won’t lend past your 65th birthday. If you’re mortgaging, you will have a shorter time / higher cost mortgage than most people.

Given that youngsters have state retirement ages of 67 - 70, why 65? Or was that specific to the guy who is over 50?

I hope I can get a 15 year one, rhat what has been agreed in principle, but it may be 13. Paid off quicker I guess.

[Flooble]

biggbn said:

I hope I can get a 15 year one, rhat what has been agreed in principle, but it may be 13. Paid off quicker I guess.

I suspect Sarnie could probably get one that goes right to the wire?

I am pretty sure someone said you can get a different type of mortgage even in retirement, provided you can show you will have income. Some of the people on final salary pensions do have monthly net income higher than the average wage after all - and their income is 100% guaranteed, you can't get made redundant from your pension!

[gazapc]

So 1 week after accepting an offer on ours we viewed a house that was utterly lovely. It was in a slighty different location to what we originally planned, and also no garage (but there is space for one). Our offer just below asking was accepted.

I previously purchased (as a first time buyer) the house I was renting so very easy....willl see how this one goes!


Need to look into surveys - the house is 19th century stone built and although in pretty good condition, I'm guessing a standard home buyers report is not going to be super suitable? Is a full 'RICS level 3' survey a good idea considering the age?

[kiethton]

Our sale seems to be progressing with a survey organised for our flat tomorrow - with everything structural coming under the freehold I assume its only going to be for valuation purposes - looks to be a bucket shop thats doing it "e.serv."

However the opposite seems to be happening with our sale - 3 weeks on and the owner (a lady in her late 80's/90's) hasn't completed the sellers information forms to allow draft contracts to be issued.....a bit of an issue when we've committed to breaking the chain and may not have anywhere to move into....

[C70R]

gazapc said:

So 1 week after accepting an offer on ours we viewed a house that was utterly lovely. It was in a slighty different location to what we originally planned, and also no garage (but there is space for one). Our offer just below asking was accepted.

I previously purchased (as a first time buyer) the house I was renting so very easy....willl see how this one goes!


Need to look into surveys - the house is 19th century stone built and although in pretty good condition, I'm guessing a standard home buyers report is not going to be super suitable? Is a full 'RICS level 3' survey a good idea considering the age?

I recently did what my surveyor called a "Buildings Report", which seems to correlate roughly with RICS Level 3. It was very comprehensive, and I would absolutely consider it for anything older.

It cost me £900 in East Anglia, FYI. Sadly, it threw up a load of nasties and I decided not to buy - but that's another story.

[Flooble]

kiethton said:

Our sale seems to be progressing with a survey organised for our flat tomorrow - with everything structural coming under the freehold I assume its only going to be for valuation purposes - looks to be a bucket shop thats doing it "e.serv."

However the opposite seems to be happening with our sale - 3 weeks on and the owner (a lady in her late 80's/90's) hasn't completed the sellers information forms to allow draft contracts to be issued.....a bit of an issue when we've committed to breaking the chain and may not have anywhere to move into....

Can you arrange a survey on the new place? I saw this with an elderly woman who, when speaking to some of the neighbours, had put her place up for sale several times over the previous few years and then changed her mind at some point during the process before exchange.

Sending in a surveyor who helpfully advised her in passing how lucky she was to have achieved the price she had, pushed her along.

[kiethton]

Flooble said:

kiethton said:

Our sale seems to be progressing with a survey organised for our flat tomorrow - with everything structural coming under the freehold I assume its only going to be for valuation purposes - looks to be a bucket shop thats doing it "e.serv."

However the opposite seems to be happening with our sale - 3 weeks on and the owner (a lady in her late 80's/90's) hasn't completed the sellers information forms to allow draft contracts to be issued.....a bit of an issue when we've committed to breaking the chain and may not have anywhere to move into....

Can you arrange a survey on the new place? I saw this with an elderly woman who, when speaking to some of the neighbours, had put her place up for sale several times over the previous few years and then changed her mind at some point during the process before exchange.

Sending in a surveyor who helpfully advised her in passing how lucky she was to have achieved the price she had, pushed her along.

I’m going to see what the outcome of the one on my own place is and also put a bit more pressure on the agent that promised it for Friday…I’ll then look at what’s happening before instructing somebody and committing to more cost.

Conscious that when funds are as tight as they are the delay is actually a little helpful because I can put away 0.5% of the house value a month at the moment which helps, any missed SDLT deadline will be factored in though

[Caddyshack]

Flooble said:

Maximus_Meridius101 said:

biggbn said:

Will be my first mortgage, house we are in is my partners, and even that was bought from council when we had been tenants for several years so the whole house hunting is new to us both.

Be aware that most lenders won’t lend past your 65th birthday. If you’re mortgaging, you will have a shorter time / higher cost mortgage than most people.

Given that youngsters have state retirement ages of 67 - 70, why 65? Or was that specific to the guy who is over 50?

Very few lenders would be 65…most are 70 but the likes of Santander will go to 75. Metro will do 80. Barclays will ignore the age of oldest applicant if not reliant on their income.

[nick30]

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

[kiethton]

nick30 said:

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

Don’t be strong armed into using a solicitor you don’t want to use

[nick30]

kiethton said:

nick30 said:

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

Don’t be strong armed into using a solicitor you don’t want to use

They explained it would be highly likely to go through much easier. They would quickly sort my sale and then all legals for the house I am buying from said agent. I am tempted because although I know the other solicitor they have been slow and have made errors in past.

[The ArtfulBodger]

nick30 said:

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

Using their recommended solicitor/conveyancer won’t necessarily speed up the process - it will only go as fast as the slowest link in the chain (if there is one)

Use your choice of solicitor/conveyancer and make it clear to the EA that you do not wish and are under no obligation to use their favoured solicitor/conveyancer.

Using the same EA for sale of your property is a smart move though - we did this, they then have a vested interest in making sure the chain holds together, in our case three sales in the chain of four were theirs, no sale no commission on £800k worth of sales.

[surveyor]

The ArtfulBodger said:

nick30 said:

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

Using their recommended solicitor/conveyancer won’t necessarily speed up the process - it will only go as fast as the slowest link in the chain (if there is one)

Use your choice of solicitor/conveyancer and make it clear to the EA that you do not wish and are under no obligation to use their favoured solicitor/conveyancer.

Using the same EA for sale of your property is a smart move though - we did this, they then have a vested interest in making sure the chain holds together, in our case three sales in the chain of four were theirs, no sale no commission on £800k worth of sales.

Equally they will deal with a lot of solicitors and will know who is good and who is bad. The difficult bit is working out if the recommendation is due to performance or 'favours'.

[nick30]

The ArtfulBodger said:

nick30 said:

I am finding it daunting, the house I want is for sale with the agent I am now going to use but I feel a bit pressured into using their recommended solicitor. I wasn’t expecting that but if it speeds up the process I would be happy to use them. Its just I would have rather used a friend I know who already was my misses solicitor for the sale of her flat.

Using their recommended solicitor/conveyancer won’t necessarily speed up the process - it will only go as fast as the slowest link in the chain (if there is one)

Use your choice of solicitor/conveyancer and make it clear to the EA that you do not wish and are under no obligation to use their favoured solicitor/conveyancer.

Using the same EA for sale of your property is a smart move though - we did this, they then have a vested interest in making sure the chain holds together, in our case three sales in the chain of four were theirs, no sale no commission on £800k worth of sales.

Good to hear the last paragraph! As above I am swinging that way regarding solicitors, maybe it may help and the cost that is hardest to swallow is the stamp duty but regardless who I use it’s painful at 18k

[Claude455]

100% use a solicitor that’s been recommended… by someone impartial, not by your EA who will get something off the back of it.