Buying a House/New Housing Developers/Help to Buy

Panama_Jack666

BRISTOL86 said:

Our mortgage broker is scathing about the help to buy scheme and says he has loads of clients stuck on SVR mortgages because no new lender will touch them whilst the equity loan is outstanding. Worth checking out a standard 95% LTV mortgage rather than going help to buy? Thats how we got on the ladder less than 3 years ago - we only had a £12k deposit and now have 5x that equity in the house which opens the door to a move up the ladder. 

Cheers! That's the next step now. We're also at about 12k so shoukd be achievable!

Panama_Jack666

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Phil_aka_Pip

Panama_Jack666 said:

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Est Agt fee for selling the place you're moving out of (if it was yours to sell). I'm thinking of factoring into "moving cost" the cost of storing various items during the sale and moving in process, such as amplifiers instruments and recording equipment that's probably not going to be used during that time.

Panama_Jack666

Phil_aka_Pip said:

Panama_Jack666 said:

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Est Agt fee for selling the place you're moving out of (if it was yours to sell). I'm thinking of factoring into "moving cost" the cost of storing various items during the sale and moving in process, such as amplifiers instruments and recording equipment that's probably not going to be used during that time.

Need to keep all my gear on the go as I'm out a few times a week with most of it. You do raise a good point of potentially paying for two properties during the transition phase!

Nitefly

Panama_Jack666 said:

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Stamp duty - not sure what the threshold is now.

Panama_Jack666

Nitefly said:

Panama_Jack666 said:

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Stamp duty - not sure what the threshold is now.

None of that for first time buyers now I understand...

Nitefly

Panama_Jack666 said:

Nitefly said:

Panama_Jack666 said:

Infact! This raises another question!

Ballpark - what are the other fees with buying a property?

Solicitor fee, moving cost, survey on a property, mortgage advisor (although the one we're contacting shouldn't cost us anything). 

Stamp duty - not sure what the threshold is now.

None of that for first time buyers now I understand...

Sorry, yes you're right, as long as you're paying less than £300k.  

spark240

We are selling a house right now, Estate agent is about 2k, solicitor £500, surveys dont apply to us but I guess around £200-£300, removals firm, no idea...budget £500

Panama_Jack666

spark240 said:

We are selling a house right now, Estate agent is about 2k, solicitor £500, surveys dont apply to us but I guess around £200-£300, removals firm, no idea...budget £500

Do us a Fretboard mates rates on it!

*Providing it's near Leeds
**Providing it has a drive
***Providing it's not a shed
****Providing it pleases the wife

RMJ

Look for solicitors who offer fixed price especially if you do go help to buy route. Not many do it but there are some around who do.  Also shop around for estate agents. There was quite a difference locally in the percentage they were taking.

Not having to pay stamps is a huge saving. Though often a developer will pay them as an incentive.

usedtobe

Daughter bought a new Gleeson home on a small ish development, a few years ago on help to buy. We liked it enough to buy one on the same development a couple of years ago, when we needed to downsize from our big, cold, expensive to run, 70s house. The bills have gone right down since the move. 
Its not all doom and gloom out there!

Phil_aka_Pip

@usedtobe but do you have enough lebensraum and is there a street light outside the bedroom window?

midlifecrisis

if you are selling a property and want to use an agent, dont put up with any of this 11/2%, 2% 3% bulshit. Just offer them a   £1000  flat fee on a successful sale. Most of them will accept it.