congrats.. celebration time

I learnt this almost 4years late because it limits you to 450k

seyejohn94:
🎉🏡 Testimony Time! 🎉🏡

Guess who just conquered the infamous property ladder? That's right — yours truly! 🙌 After an exhilarating journey filled with twists, turns, and a whole lot of learning, I finally got the keys to my very own slice of heaven, just two days after sealing the deal.

Let me drop some key pointers for those eager to embark on their own property adventure:

Lisa Isn't for Everyone: If you're eyeing a cozy abode in London or certain sought-after spots, Lisa might not be your knight in shining armor. I learned this the hard way, but hey, lessons are part of the journey, right?

Solicitors: The Unsung Heroes (or Villains): Oh boy, let me tell you — the role of solicitors in this process cannot be overstated. They can either be your best friends, smoothing out every bump in the road, or the stuff of nightmares, throwing obstacles in your path. Choose wisely!

Believe in the Power of Possibility: Through every hurdle, setback, and moment of doubt, one thing kept me going: the unwavering belief that anything is possible. And let me tell you, standing in my new home, that belief has never felt more real.

So, to all the dreamers out there eyeing their own spot on the property ladder, remember this: the journey may be challenging, but the view from the top? Absolutely worth it. 🌟🏠 #NewHomeJoy #PropertyAdventure

Congrats.... great news

mohtunrahyor:
IT’S MY TESTIMONY TIME 💃🏼
MOVED INTO MY NEW HOME 29th FEBRUARY

Principality 4.8% for 27% deposit (Including Help to Buy Wales) with 2 years in the UK.

LISA Contribution with my husband started 23rd of September 2022 and Completed October 2023 to get a total of £20,000 (bonus included)

I really appreciate all of the information and encouragement given on the platform.

Thanks to @Lexuss430 and everyone for taking time to reply messages.

No more DEAD MONEY 🎉

Has anyone ever bought a house on an unadopted road? private road? possibly new build..

Please any experiences? pls share, thanks

I have come again with my plenty questions...After one gets an mortgage offer from a lending institution, Several people have said you can always re apply in the event the interest rate goes down before completion, If you got the offer through a mortgagee advisor, do you reapply through the advisor or you just go direct to the lender?

https://www.telegraph.co.uk/money/property/mortgages/interest-only-mortgage-paid-36-years-still-lost-home/


Dangers of interest only mortgage.......

profemebee:
Has anyone ever bought a house on an unadopted road? private road? possibly new build..

Please any experiences? pls share, thanks

To start with, all of you would be responsible for everything to do with the road............ I go dodge this bullet...... 😜

Yes, just speak to your mortgage advisor.

Santa2:
I have come again with my plenty questions...After one gets an mortgage offer from a lending institution, Several people have said you can always re apply in the event the interest rate goes down before completion, If you got the offer through a mortgagee advisor, do you reapply through the advisor or you just go direct to the lender?

seyejohn94:
🎉🏡 Testimony Time! 🎉🏡

Guess who just conquered the infamous property ladder? That's right — yours truly! 🙌 After an exhilarating journey filled with twists, turns, and a whole lot of learning, I finally got the keys to my very own slice of heaven, just two days after sealing the deal.

Let me drop some key pointers for those eager to embark on their own property adventure:

Lisa Isn't for Everyone: If you're eyeing a cozy abode in London or certain sought-after spots, Lisa might not be your knight in shining armor. I learned this the hard way, but hey, lessons are part of the journey, right?

Solicitors: The Unsung Heroes (or Villains): Oh boy, let me tell you — the role of solicitors in this process cannot be overstated. They can either be your best friends, smoothing out every bump in the road, or the stuff of nightmares, throwing obstacles in your path. Choose wisely!

Believe in the Power of Possibility: Through every hurdle, setback, and moment of doubt, one thing kept me going: the unwavering belief that anything is possible. And let me tell you, standing in my new home, that belief has never felt more real.

So, to all the dreamers out there eyeing their own spot on the property ladder, remember this: the journey may be challenging, but the view from the top? Absolutely worth it. 🌟🏠 #NewHomeJoy #PropertyAdventure

Congratulations 🎉 and welcome to your new home 🏠

Santa2:
I have come again with my plenty questions...After one gets an mortgage offer from a lending institution, Several people have said you can always re apply in the event the interest rate goes down before completion, If you got the offer through a mortgagee advisor, do you reapply through the advisor or you just go direct to the lender?

Through the advisor... What l did

Lexusgs430:
https://www.telegraph.co.uk/money/property/mortgages/interest-only-mortgage-paid-36-years-still-lost-home/


Dangers of interest only mortgage.......

Na interest only na... You want claim house you paid interest only

ukay2:


Through the advisor... What l did

Many thanks..Will do

mohtunrahyor:
IT’S MY TESTIMONY TIME 💃🏼
MOVED INTO MY NEW HOME 29th FEBRUARY

Principality 4.8% for 27% deposit (Including Help to Buy Wales) with 2 years in the UK.

LISA Contribution with my husband started 23rd of September 2022 and Completed October 2023 to get a total of £20,000 (bonus included)

I really appreciate all of the information and encouragement given on the platform.

Thanks to @Lexuss430 and everyone for taking time to reply messages.

No more DEAD MONEY 🎉

Congratulations......... 🎉🎉🎉🎉🎉🎉

Absolutely, no more Landlord doing yanga, feel free to paint your walls etc etc etc ........

RENT MONEY IS INDEED DEAD MONEY.......😜😂

seyejohn94:
🎉🏡 Testimony Time! 🎉🏡

Guess who just conquered the infamous property ladder? That's right — yours truly! 🙌 After an exhilarating journey filled with twists, turns, and a whole lot of learning, I finally got the keys to my very own slice of heaven, just two days after sealing the deal.

Let me drop some key pointers for those eager to embark on their own property adventure:

Lisa Isn't for Everyone: If you're eyeing a cozy abode in London or certain sought-after spots, Lisa might not be your knight in shining armor. I learned this the hard way, but hey, lessons are part of the journey, right?

Solicitors: The Unsung Heroes (or Villains): Oh boy, let me tell you — the role of solicitors in this process cannot be overstated. They can either be your best friends, smoothing out every bump in the road, or the stuff of nightmares, throwing obstacles in your path. Choose wisely!

Believe in the Power of Possibility: Through every hurdle, setback, and moment of doubt, one thing kept me going: the unwavering belief that anything is possible. And let me tell you, standing in my new home, that belief has never felt more real.

So, to all the dreamers out there eyeing their own spot on the property ladder, remember this: the journey may be challenging, but the view from the top? Absolutely worth it. 🌟🏠 #NewHomeJoy #PropertyAdventure

The type of news we love to read ......... Congratulations......🎉🎉🎉

for just my side of the road or the entire road that bears the street name?

This means property searches should be done earlier so people know.. at least early in the house buying stage..

responsible? like fixing the road?

is there any hope of government adopting the road?

Lexusgs430:



To start with, all of you would be responsible for everything to do with the road............ I go dodge this bullet...... 😜

profemebee:
for just my side of the road or the entire road that bears the street name?

This means property searches should be done earlier so people know.. at least early in the house buying stage..

responsible? like fixing the road?

is there any hope of government adopting the road?

People that reside on unadopted roads, would be responsible for all the road........ If your neighbour is happy with a battered/flooded/potholed road...... You cannot force them to pay/contribute....... 😁😜

That's why your conveyancing solicitor, is worth their £......

What's in it for the government, to adopt it....... (unless a top politician buys on that road)..... 🤣

profemebee:
for just my side of the road or the entire road that bears the street name?

This means property searches should be done earlier so people know.. at least early in the house buying stage..

responsible? like fixing the road?

is there any hope of government adopting the road?

For new build estates, the builder usually set up a management company to look after the estate. Councils usually do not adopt some of the roads in new builds because they do not want to take on the liability plus sometimes the roads are knot built to standard, the builder cutting costs so the cost of maintenance will be passed on to the residents via a management company set up by the builder. If you look in your tp1, it should all be there. The
Management company in this case will be responsible. They will fix the road and send you your share of the bill.

deept:

For new build estates, the builder usually set up a management company to look after the estate. Councils usually do not adopt some of the roads in new builds because they do not want to take on the liability plus sometimes the roads are knot built to standard, the builder cutting costs so the cost of maintenance will be passed on to the residents via a management company set up by the builder. If you look in your tp1, it should all be there. The
Management company in this case will be responsible. They will fix the road and send you your share of the bill.

Which could be unexpectedly high ........ Government should keep fixing my road........😂

Lexusgs430:
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Which could be unexpectedly high ........ Government should keep fixing my road........😂

Baba, you came here when UK was UK, now it is you ok

me sef cant be forced to pay/contribute then lol

What should the solicitor do in this case?

Lexusgs430:


People that reside on unadopted roads, would be responsible for all the road........ If your neighbour is happy with a battered/flooded/potholed road...... You cannot force them to pay/contribute....... 😁😜

That's why your conveyancing solicitor, is worth their £......

What's in it for the government, to adopt it....... (unless a top politician buys on that road)..... 🤣

is this going to be covered in the management service fees that's paid annually?

Or another cost factor?

Pls what is tp1?

Yes, it is a new build

deept:

For new build estates, the builder usually set up a management company to look after the estate. Councils usually do not adopt some of the roads in new builds because they do not want to take on the liability plus sometimes the roads are knot built to standard, the builder cutting costs so the cost of maintenance will be passed on to the residents via a management company set up by the builder. If you look in your tp1, it should all be there. The
Management company in this case will be responsible. They will fix the road and send you your share of the bill.

profemebee:
me sef cant be forced to pay/contribute then lol

What should the solicitor do in this case?

If the unadopted road is managed by a management body........ They might have the financial leverage, to offer you a pocket friendly loan, if you refuse to pay .......

Litigation would be engaged and a charge would eventually be charged to your property (you would not win).........😂😁

Your solicitor CAN only highlight and inform prior..... If you decide to exchange....... You already exchanged your rights.....😂😁

deept:


Baba, you came here when UK was UK, now it is you ok

UK don turn youkay .......😂

We all still feel the heat..... 🔥🔥🔥🔥🔥😜

how much can road maintenance be though? how often?

Isn't this already tied to the annual management service charge?

Lexusgs430:


If the unadopted road is managed by a management body........ They might have the financial leverage, to offer you a pocket friendly loan, if you refuse to pay .......

Litigation would be engaged and a charge would eventually be charged to your property (you would not win).........😂😁

Your solicitor CAN only highlight and inform prior..... If you decide to exchange....... You already exchanged your rights.....😂😁

Lexusgs430:


If the unadopted road is managed by a management body........ They might have the financial leverage, to offer you a pocket friendly loan, if you refuse to pay .......

Litigation would be engaged and a charge would eventually be charged to your property (you would not win).........😂😁

Your solicitor CAN only highlight and inform prior..... If you decide to exchange....... You already exchanged your rights.....😂😁

This....

Plus they would pass your case on to debt collectors...

...plus, you can't sell unless you get a management pack(I think that's what it's called)

profemebee:
how much can road maintenance be though?

Isn't this already tied to the annual management service charge?

Annual service charge should cover recurrent expenses eg street light, common areas, etc. then if something major happens, the cost will be shared amongst all of you

is this going to be covered in the management service fees that's paid annually?

Or another cost factor?

Pls what is tp1?

Yes, it is a new build

deept:


This....

Plus they would pass your case on to debt collectors...

...plus, you can't sell unless you get a management pack(I think that's what it's called)

pls what is tp1?

something major like road fix right? so it won't be like a yearly thing

deept:


Annual service charge should cover recurrent expenses eg street light, common areas, etc. then if something major happens, the cost will be shared amongst all of you

profemebee:
pls what is tp1?

something major like road fix right? so it won't be like a yearly thing

Nope. But the costs can be unexpectedly high



Tp1 is like the purchase agreement. When the buyer and seller signs and money has been exchanged, congratulations you are a landlord

thanks for the responses..

hmmm high? 1k? 5k? 10? high?

i just dey think

deept:


Nope. But the costs can be unexpectedly high



Tp1 is like the purchase agreement.

profemebee:
how much can road maintenance be though? how often?

Isn't this already tied to the annual management service charge?

You seem so so determined to buy this property........ 😂😜

but won't most new build buyers have this same issue though?

unadopted roads and all

Just asking for experiences from new build owners

Lexusgs430:


You seem so so determined to buy this property........ 😂😜

profemebee:
but won't most new build buyers have this same issue though?

unadopted roads and all

Just asking for experiences from new build owners

Everyone buying, would have the same issue..... But they can't feign ignorance (because their solicitor, would have highlighted it).........