Of course there are no issues. Just that if you have the keys, what difference will it make.

If I remember correctly, you will also need to activate your new address with royal mail so it's officially recognised.

specialenvoy:
Lol @ Storm Daniel.

On the address change, it might still take us about 3 weeks before we move to the new house, if we decide to start changing the week we are moving in, Is there any issue for concern?

that's new to me.. never done that before,.. is that really a thing?

Bourne007:
Of course there are no issues. Just that if you have the keys, what difference will it make.

If I remember correctly, you will also need to activate your new address with royal mail so it's officially recognised.

Check this out.https://www.nuliving.co.uk/beechwood/
Just about 30mins to Fenchurch Str from Basildon

profemebee:
bro, i have been searching for new build within the LISA max cap of £450k and it is hard to find because i need it to be close to London cos of work

I wish the LISA max cap was increased..

What areas outside London can one research one that isn't far from London commute for work??

Pearlyfaze:


Some give a 5% deposit and all of these other benefits you wrote here.

Our developer gave us a 5% deposit for New Build, We exchanged the Contract on the 4th of January for LTV 80%. We provided 15% and the builder 5%.

The same kind of house is now 15k above what was sold to us. I don't know if it's a good sign.

So it depends on where and Who.

Perssimon Gave my friend 5% also.
We are in the North East of England.

Oshey!!!

would act on this info...all these developers in south east just dey strong face.lol

thanks, will check it out and the transport cost to London

twizzie:
Check this out.https://www.nuliving.co.uk/beechwood/
Just about 30mins to Fenchurch Str from Basildon

Pearlyfaze:


Some give a 5% deposit and all of these other benefits you wrote here.

Our developer gave us a 5% deposit for New Build, We exchanged the Contract on the 4th of January for LTV 80%. We provided 15% and the builder 5%.

The same kind of house is now 15k above what was sold to us. I don't know if it's a good sign.

So it depends on where and Who.

Perssimon Gave my friend 5% also.
We are in the North East of England.

Thanks for this info..also came across someone who was given 5%, flooring and kitchen upgrade, I plan to take this up with the developers we are speaking. Hopefully we come out fruitful. We no gree for anybody this year

Hi people, How do I determine how much to offer on a house.

I want to offer just enough to look serious but I don't want to give up the whole farm on an initial offer. Thanks in advance

missjekyll:
Hi people, How do I determine how much to offer on a house.

I want to offer just enough to look serious but I don't want to give up the whole farm on an initial offer. Thanks in advance

I was gonna try and respond but chatgpt put it better:

"When determining your initial offer on a house, research comparable property sales in the area, assess the property's condition, and consider market trends. Aim for a competitive but reasonable offer, leaving room for negotiation. You can express your seriousness by presenting a well-documented offer and expressing genuine interest without revealing your maximum budget upfront."

I use rightmove to find out prices of similar recent houses sale in the area and price accordingly

@Ticha @lexusg @Solumtuya, what other cost should one expect asides the below? This was gotten from L&C as an estimate. This will be less stamp duty as cost is below 450k. As it's a new build, asides snagging charges, what else please can we look out for?

Hello My Elders,

Please I need your candid advice and opinions.

Firstly, I just packed an Esusu of £6,000. I intend to build this up to a more reasonable amount for deposit to get on the ladder. However, I understand Banks or Mortgage Lenders don’t understand the dynamics of Esusu and I might get disqualified if I can’t explain the source of the funds. Please how can I plough this into my deposit? I’m looking at saving up more (at least £10,000) and evidencing it from my monthly income till I signify an interest to buy a property towards the end of this year but I’m also afraid I might be asked to provide one year bank statements.

NB I lost weight working day and night to meet up with the thrift and I don’t want to spend a dime from it to embark on vacation to Florida this summer as Madam is suggesting 😂 (Baby let’s just take about £1,500 and take the kids to Disneyland. We’ll raise it back together)

Secondly I’ll be 44 this year. Please does that mean I’m no longer eligible to take advantage of LISA or ISA? Can I go for moneybox please?

Lastly, please what other advise would you give a JJC like me with regards to getting on this hard-to-get-on ladder to heaven?


semmyk
Solumtoya
Lexusgs430
Zahra29

JBoy9:
Hello My Elders,

Please I need your candid advice and opinions.

Firstly, I just packed an Esusu of £6,000. I intend to build this up to a more reasonable amount for deposit to get on the ladder. However, I understand Banks or Mortgage Lenders don’t understand the dynamics of Esusu and I might get disqualified if I can’t explain the source of the funds. Please how can I plough this into my deposit? I’m looking at saving up more (at least £10,000) and evidencing it from my monthly income till I signify an interest to buy a property towards the end of this year but I’m also afraid I might be asked to provide one year bank statements.

NB I lost weight working day and night to meet up with the thrift and I don’t want to spend a dime from it to embark on vacation to Florida this summer as Madam is suggesting 😂 (Baby let’s just take about £1,500 and take the kids to Disneyland. We’ll raise it back together)

Secondly I’ll be 44 this year. Please does that mean I’m no longer eligible to take advantage of LISA or ISA? Can I go for moneybox please?

Lastly, please what other advise would you give a JJC like me with regards to getting on this hard-to-get-on ladder to heaven?


semmyk
Solumtoya
Lexusgs430
Zahra29

Unfortunately, you're 4 years out of the reach of LISA....... 😂

Just highlight inflow from other members, to proof collective contributions .........

Nah dere way o...... Lock that money in an account, very far from madam........ 😜😂

To invest on the financial markets, you need to have a long term view, your investment might rise or plummet.......😂😜

Just put funds in a savings account, your interest would be minimal, but you want to preserve your capital......

Have a look at the housing market, see ranges of prices, to gauge your financial commitments....... I would say, a cash reserve of about £25/£30K (depending on location), would put you in a much better position......

Lexusgs430:



Unfortunately, you're 4 years out of the reach of LISA....... 😂

Just highlight inflow from other members, to proof collective contributions .........

Nah dere way o...... Lock that money in an account, very far from madam........ 😜😂

To invest on the financial markets, you need to have a long term view, your investment might rise or plummet.......😂😜

Just put funds in a savings account, your interest would be minimal, but you want to preserve your capital......

Have a look at the housing market, see ranges of prices, to gauge your financial commitments....... I would say, a cash reserve of about £25/£30K (depending on location), would put you in a much better position......

Thanks my boss. I was expecting your sarcasm as well 😂

Price range within my locality is about £120k £250k. I’m gunning for something in between £120-£150k. New build preferably. The Esusu were paid in multiples of £300 so someone said it shouldn’t be a red flag as long as it’s not up to £500 per inflow

Financial market is a no no for me at the moment.

Please do I need to start talking to a mortgage advisor or wait till I’m almost there financially? Please could you recommend a bank that’s FTB friendly ? Almost 3years in the youkay

JBoy9:


Thanks my boss. I was expecting your sarcasm as well 😂

Price range within my locality is about £120k £250k. I’m gunning for something in between £120-£150k. New build preferably. The Esusu were paid in multiples of £300 so someone said it shouldn’t be a red flag as long as it’s not up to £500 per inflow

Financial market is a no no for me at the moment.

Please do I need to start talking to a mortgage advisor or wait till I’m almost there financially? Please could you recommend a bank that’s FTB friendly ? Almost 3years in the youkay

This sarcasm, don catch fire for UK thread ......... People don almost curse my unborn generation o.......😁

Let's assume you're paying a deposit of 10%, on a property of £150K (£15K deposit).......

Other logistical cost + initial furnishing = £10K.......

When you're about 40 days from hitting this target, start seeking mortgage offer in principle.........

All mortgage provider's are almost the same, it's the rate & terms that's on the table, that's the koko....... Hope you're building your credit history........

Lexusgs430:


This sarcasm, don catch fire for UK thread ......... People don almost curse my unborn generation o.......😁

Let's assume you're paying a deposit of 10%, on a property of £150K (£15K deposit).......

Other logistical cost + initial furnishing = £10K.......

When you're about 40 days from hitting this target, start seeking mortgage offer in principle.........

All mortgage provider's are almost the same, it's the rate & terms that's on the table, that's the koko....... Hope you're building your credit history........

No gree anybody take your sarcasm away... Life no suppose deh too serious.

Good morning, pls for peoples that used money box/ISA account for their house. What type of product can i choose as i want pay in money before the tax year end and im using it towards my 1st home.

Can i fund the account with full £4k without direct debit.

Kindly assist.

@lexusgs430
@solumtoya
@zahra29

i guess we don't have much negotiating power or leverage if it is a new build

These developers don't agree especially as they already provide incentives

Solumtoya:


I was gonna try and respond but chatgpt put it better:

"When determining your initial offer on a house, research comparable property sales in the area, assess the property's condition, and consider market trends. Aim for a competitive but reasonable offer, leaving room for negotiation. You can express your seriousness by presenting a well-documented offer and expressing genuine interest without revealing your maximum budget upfront."

I use rightmove to find out prices of similar recent houses sale in the area and price accordingly

lol.. £1,500 will barely take you to Disneyland and back with kids ooo

Yeaa i heard they don't understand the concept of Esusu and some mortgage lenders will even not pass you during pre-qualification.. a mortgage broker can advise better..

JBoy9:
Hello My Elders,

Please I need your candid advice and opinions.

Firstly, I just packed an Esusu of £6,000. I intend to build this up to a more reasonable amount for deposit to get on the ladder. However, I understand Banks or Mortgage Lenders don’t understand the dynamics of Esusu and I might get disqualified if I can’t explain the source of the funds. Please how can I plough this into my deposit? I’m looking at saving up more (at least £10,000) and evidencing it from my monthly income till I signify an interest to buy a property towards the end of this year but I’m also afraid I might be asked to provide one year bank statements.

NB I lost weight working day and night to meet up with the thrift and I don’t want to spend a dime from it to embark on vacation to Florida this summer as Madam is suggesting 😂 (Baby let’s just take about £1,500 and take the kids to Disneyland. We’ll raise it back together)

Secondly I’ll be 44 this year. Please does that mean I’m no longer eligible to take advantage of LISA or ISA? Can I go for moneybox please?

Lastly, please what other advise would you give a JJC like me with regards to getting on this hard-to-get-on ladder to heaven?


semmyk
Solumtoya
Lexusgs430
Zahra29

New build? 120k-150k?

where ooo?

I don't know how feasible that is..

JBoy9:


Thanks my boss. I was expecting your sarcasm as well 😂

Price range within my locality is about £120k £250k. I’m gunning for something in between [b]£120-£150k. New build preferably. [/b]The Esusu were paid in multiples of £300 so someone said it shouldn’t be a red flag as long as it’s not up to £500 per inflow

Financial market is a no no for me at the moment.

Please do I need to start talking to a mortgage advisor or wait till I’m almost there financially? Please could you recommend a bank that’s FTB friendly ? Almost 3years in the youkay

Any one able to respond to this please?

twizzie:
@Ticha @lexusg @Solumtuya, what other cost should one expect asides the below? This was gotten from L&C as an estimate. This will be less stamp duty as cost is below 450k. As it's a new build, asides snagging charges, what else please can we look out for?

profemebee:
lol.. £1,500 will barely take you to Disneyland and back with kids ooo

Yeaa i heard they don't understand the concept of Esusu and some mortgage lenders will even not pass you during pre-qualification.. a mortgage broker can advise better..

Head to Disneyland in Paris then...... Disneyland nah Disneyland o........... 😜🤣

twizzie:
Any one able to respond to this please?

Been away for awhile. All the important costs are there apart from a survey. That varies - banks will sometimes pay for a basic one. If you want a detailed one then budget £500-£700

Thank you for taking time to respond, as we are looking at a new build, do we still need the survey?

Ticha:


Been away for awhile. All the important costs are there apart from a survey. That varies - banks will sometimes pay for a basic one. If you want a detailed one then budget £500-£700

twizzie:
Thank you for taking time to respond, as we are looking at a new build, do we still need the survey?

Ah no you don't

I hear about this.. no need for Level2 or 3 survey if it is new build...

Is it because the house is new and under the NHBC 10years warranty?

I was thinking at least Level 2 Snagging report survey if it is a new build..

Ticha:


Ah no you don't

Hi All,

To look for mortgage, What should your credit score look like?
Must you have a credit card?

I am considering getting a Town house (3 floors) , as it has more space/rooms as against a 2 floors home (one storey), at same price point . But I understand that when it come to reselling it might be more difficult to sell off. This is going to be our first purchase, I know somewhere in the future we would move to our forever home, am hoping before the 10 year NHBC expires. So I definitely would need to sell at some point but I just wanted to find out if anyone has experience with selling off town houses or pro/cons of living in them.

Thanks. @Ticha. What would you advise based on experience and recent trends(which I know can't be predicted)

2 years fixed at 5.29% or 5 years at 4.84%?
[quote au

[/quote]

Santa2:
I am considering getting a Town house (3 floors) , as it has more space/rooms as against a 2 floors home (one storey), at same price point . But I understand that when it come to reselling it might be more difficult to sell off. This is going to be our first purchase, I know somewhere in the future we would move to our forever home, am hoping before the 10 year NHBC expires. So I definitely would need to sell at some point but I just wanted to find out if anyone has experience with selling off town houses or pro/cons of living in them.

Townhouses are great, they have their pros and cons. I chose a Townhouse for the same reason: more space. The whole selling off thing doesn't bother me so much, I actually hope I don't have to sell it even when I move, I'd rather just rent it out and add to my portfolio. They have several other pros: better heating, better separation of rooms (no visitor can wander into the top floor unless told to), better view from the top, etc.

The disadvantage is obviously the stairs. More stairs means more cleaning, more stress, more room for accidents especially with toddlers and elderly. I love the stairs as it helps with fitness. Another downside is that the loft will be much smaller typically.

ToyosiR:
Hi All,

To look for mortgage, What should your credit score look like?
Must you have a credit card?

You can get a mortgage with any credit score, but how competitive your interest rate is will depend on your credit profile/history and not necessarily your credit score. So I'll focus more on the latter than the former.

Solumtoya:


Townhouses are great, they have their pros and cons. I chose a Townhouse for the same reason: more space. The whole selling off thing doesn't bother me so much, I actually hope I don't have to sell it even when I move, I'd rather just rent it out and add to my portfolio. They have several other pros: better heating, better separation of rooms (no visitor can wander into the top floor unless told to), better view from the top, etc.

The disadvantage is obviously the stairs. More stairs means more cleaning, more stress, more room for accidents especially with toddlers and elderly. I love the stairs as it helps with fitness. Another downside is that the loft will be much smaller typically.

Great Insight. You actually highlight some advantage I had not considered.

ukay2:
LISA... Maxed out

Waiting for 6th April 2024 to continue £100 weekly contribution with money box.

Try join if you're less than 40 years...

Sent you a DM

Solumtoya:


My Solicitor's fee was definitely high (even though it includes about £500 for Land registry and Engrossment, still high). I noticed late so I just went ahead. If I changed Solicitor, I would have saved over £1k.

Short Answer to Snagging: Yes, it was worth it.

Long answer: It depends on how perfect you want your house, how much you trust your builder and how much you truat yourself.

My Snagging Inspector came with a drone to check the roofing sheets and found a few issues (cosmetic). Came with a Heat Sensor to check for insufficient insulation and spotted a few. Loosened the bath tub covers to check the pipes beneath and legs and spotted a few issues. Used a Spirit Level Plumb to check straightness of walls, found a few wonky walls and stair poles. Checked the soil beneath the interlocking and turf, etc.

These and many more are things I would never have thought to check so yeah it was money well spent. In 99% of cases like mine, they find nothing so serious. So many of the issues she spotted are being fixed while others are things I don't mind and won't bother stressing over.

So, yeah, 99.9% of people will just pay that money to be told the house is okay apart from cosmetic issues but I didn't wanna risk being the 0.1% who had a major issue.

P.S.: They found about 85 issues, the site manager and I agreed to ignore about 20 and the remaining 65 or so are mostly already sorted now

@Solumtoya Did you go with the solicitors recommended by the developers or you sourced yours yourself? If you got your solicitor yourself? What did you look out for in getting it. Need to get a conveyance but I dont want to go with the developer recommended. Currently going through comparison sites but I would have preferred one from someone with positive experience.