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Lrla90

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About Lrla90

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  1. My current mortgage offer is based on a 40 year term 😬 obviously with the plan to reduce the term over time but now I'm wondering if that's unrealistic? I opted for 40 years initially to give me more disposable income left over to renovate it. Is that a bad idea?
  2. Take home is £2200 ish Mortgage is £470 if I take 5yr 2.59% fix. I own my car. Own my phone. Have 1 small credit card balance of £1k. Pet insurance, professional/employment fees, no subscriptions, a bank account fee. After all bills are paid each month I should in theory have £800pm left? Unless I'm totally under estimating my energy bills. October is making me nervous. I guess I'm most nervous about taking on a house that needs work. The main rics issues were roof, internal movement in a front store cupboard but (no movement externally), some floorboards upstairs that need replacing (is this a big job, it definitely feels loose underfoot?), a broken stair on the staircase, every floor needs a new carpet, a new kitchen (current one is falling to bits), and all walls skimming or replastering. The garden will be a jungle by now as the house has been empty since Jan. I had the electrics checked and they're safe but it needs a new fuse box and the electrician recommended some additional sockets being installed in every room as there aren't many. Windows and doors are fine. I guess like you say I could do it bit by bit. The house had cavity wall insulation installed, someone told me to watch out for damp but nothing untoward on rics about it so hopefully that's fine? I've no idea what my gut it telling me. I'm incredibly anxious about it which isn't like me at all I'm not generally an anxious person so is that my gut telling me to pull out? Give me an obstetric emergency any day over this.
  3. But I remember thinking this in July 2020 then look what happened
  4. Sorry yes the bed is mine in the sense the bedroom came fully furnished. But it isn't a nice mattress/one I'd have chosen myself. And I'm pretty sure it wasn't brand new even though the advert said it was 😭
  5. Pros My own space, my own bed, can decorate it how I like, never have to share again unless I want a lodger Cons Inflation, rising IRs, the amount of work that needs doing, needing to borrow, council houses on that street (a couple of them are scruffy) I've been offered roles in medical sales if I wanted (due to a background in sales) which would be a very good pay rise, which oftentimes because maternity services are so dire rn I do consider. By this time next year if I took the role I'd be on a lot more and be offered a bigger mortgage (unless the criteria becomes very strict). My point being I could maybe afford something else that didn't need as much work doing this time next year. Especially if house prices do come down a bit. Do you think they will?
  6. https://www.zoopla.co.uk/for-sale/details/60506945?utm_source=v1:5bWFDybfWx7C7AGpeagt7mP3PgcqjuqJ&utm_medium=api This is the house. It's been unoccupied since January which also makes me a bit nervous. There's soooo much to do. The walls are artex but can hopefully be skimmed rather than fully replastered? (I had the artex checked for asbestos and all samples were negative)
  7. It's constantly on my mind and consuming my thoughts. I'm an indecisive person as it is. The rics survey said it needs a new roof (at the end of its cycle). I certainly can't afford that any time soon without borrowing. Yikes
  8. My offer was accepted back in January before I realised how much energy was rising and before the war in Ukraine. I was recently single and feeling determined but now I have doubts. It's in a nice area yeah, the only one I want to live in really. The street is ex council with some existing council on it but is nice and quiet.
  9. It's to live in but I'm single, 31, no children, I hope it isn't my forever home in that sense. It's an end terrace. I'm a midwife so have total job security however no pay rises for us! My fixed rate is 1.9% on a 2 yr or 2.6% for a 5yr. 10% deposit. I'm a bit worried about how much energy bills are going to cost me on top of renovating it. At the moment I have a cushy set up in a house share (live in landlord is in the army and never home) where bills are included for £550pm. Although turning 32 this year and I'd love my own place and my own bed and be able to spread out more. How I don't want to be stupid if it would be more sensible to wait and buy something that either doesn't need any work or something more affordable. If interest rates climb again next year to 3% I may start feeling the pinch? It's so hard being single I feel very vulnerable financially as have no family to help.
  10. In my situation what would you do. (my offer already accepted, bank have valued it, solicitor stuff under way, rics level 3 done) With interest rates going up I'm getting nervous. I was/am buying a house that needs a lot of work. I'd need to borrow money to get it done to a nice standard (it needs a new kitchen and every room needs re-plastering and carpets). I do have some of the money already but may need to borrow 10k. I'm worried that with interest rates rising and what may happen to house prices that soon I'll have borrowed more/spent more than the house is worth. I'm buying for £160k and once it's done could be worth £180k based on other houses in the streets' sold prices. But I'll need to spend that on it and maybe more because who knows what may crop up when I get going on it. And with rates going up and cost of materials. I'm a ftb btw. Maybe I should wait?
  11. I've requested another viewing and I'm taking a friend plumber with me to check the plumbing. I've already had the electrics checked and they were fine, it needs a new fuse box. The windows and doors are newish, and theres so significant damp according to the survey (although his photo of the damp meter was lit up in red on some of them so that's confused me. I'm going to speak to the surveyor to check this) and overall unless there's a rotten floor I don't know about I think it looks okay. So apart from new kitchen and cosmetically updating it I feel confident it isn't a wreck. The artex can hopefully be skimmed and I'll check its asbestos free
  12. That's if all the other offers existed. My friend recently had this estate agent round to value a house they're selling and they said "yeah and we'll tell them it's going to best and final to push the offers up a bit"
  13. Like I say my offer took this into account, or it tried too. I budgeted for 20k hoping it would be less but actually it'll cost 30k now based on extras that have cropped up on a survey the lender asked for? Yes building's are complex and I don't have a crystal ball, should I have had the survey done before making making offer? Costs are increasing and many traders are warning me of rising costs and difficulty in quoting due to this so of course I expected more hence budgeting for 20k just in case, not sure why I should fork out another 10k. How many people are wanting to buy a doer upper in this climate, don't be so sure someone else wouldn't offer even less. I'd be silly not to try and renegotiate surely?
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