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Everything posted by tygar2

  1. Thanks I like the first rule! I had heard about the second rule but am not quite clear on it. Does it mean that I should aim for a fixer-upper if that is all I can afford in the ideal area? By the time the renovation/extension costs are added is it always worth it?
  2. Hi gang...I'm back again. So...happened across a house that ticks almost all the boxes except "kerb appeal". House is very nice but neighbourhood is a little more run down than our ideal but still nice all the same. House is listed as "offers over 330K" (dropped from initial of 350K within 2 weeks of being listed in May). What sets it apart is that it comes with a self contained 1 bedroom annex in the garden and has had the integrated garage bricked up and converted into an office an utility room so no major building work required. My research of the postcode shows no house has ever sold over £300K on the road but those that did sell required extensive work which this one doesn't. We had second viewing and decided we like it enough despite location. Avarage price for what we like, where we like (without the extras listed earlier) is 350K - £450K. Seller said 2 other people have second viewings booked this week. Here is where I need your cool headed opinions: Is it worth the risk offering low (300k/310k) or would that potentially offend? Is buying the ideal house but in less than ideal (but not terrible) location a good idea? Any thoughts on timing/interest rates etc? Thanks
  3. I am looking roughly in the SS0, SS1, and SS2 postcode. Funny enough noticed a lot of the properties previously for sale on my route to work have suddenly got sold signs... Then again, I have seen this cycle before...could be an estate agent ploy.
  4. Good to know I did it correct especially as I made it up on the spot! Regarding the name, can someone confirm it is advisable to reveal or not? They are located in Basildon, Essex. I'm guessing many agents pull various underhand stunts like this so not specific to this particular one who to their credit did back down and refund. Besides this case, information and advice from this website saved me from making a poor purchase decision 4 months ago - Knowledge is your weapon.
  5. Hello everyone. Just an update to conclude thread - sorry for delay. So I went to their office with all documents to challenge them. At first they were all aggression and bravado saying they have no business talking to me and it's in t&cs blah blah. I informed them that I was representing my friend (who was present and confirmed) and that I would be recording the conversation going forward whether they responded or not. They said I couldn't do that and I said I could but they could choose to keep silent (winged it - no sure where I stood legally). With recorder on, I stated names, purpose of visit, who I was speaking to, date and time....at this point a "manager" came over and wanted to find out what was going on. I repeated prior statements and was about to go into detail when he said - "On this occasion only, as a sign of goodwill we will refund the fees."...yeah, whatever mate. So good result in the end. Weirdly was a little disappointed as I was all fire up for a battle and had my speech ready....ah well . Thanks everyone for your help.
  6. Wow...that is gold right there. You will never appreciate how on the mark your comment is...and how timely. Thank you. Anyway, I stuck to my guns and 4 months later...I am still waiting. Mrs kicked off and pouted but now agrees I was right. House hunting is stressful and relationship cracks are revealed when the relationship is under stress - as I said, your comment is gold - you spying on me? Back to houses...at the moment there are many more suitable houses available and prices are calming down. Houses are not shifting - even one I thought would be gone in a flash is still hanging about. A few sales I was watching seem to have fallen through and are back at a reduced price. Lots of reduced properties in general too - yes, I made the correct informed decision thanks to you guys on this forum. Now that the general election turned into a meltdown and the Lifetime ISA prop failed to take off plus rising inflation....I'm confident the market will continue to cool.
  7. I aint no fool - I want to be an angel too! Hahaha! This forum gave me perspective. I held firm and waited....am still waiting. My first post was around 3 months ago and since then I have seen a small reduction in prices plus whats on offer seems to be improving. I have lowered my target price. Knowledge is power. Thanks everyone.
  8. Unnecessarily emotional and rather xenophobic reaction don't you think? Why get personal? Freedom of speech and difference of opinion helps us all learn and grow...or are we in North Korea now? Emotional reactions are counterproductive - some Brexit regretters I know admit as such. The Army failed in it's duty of care to soldier A and IMO should have taken responsibility earlier. He did what he did and broke the Geneva Convention. The above is my opinion which I am entitled to. And no, I am not going anywhere.
  9. Excellent. Thank you. Will be my first port of calll if asking nicely does not work out. I cannot wait for this ban on fees to start. I know it might result in higher rents but greedy cowboys will be left with empty properties as their rents will be higher than the rest.
  10. 100% agree with you but I came into the picture after she had paid (she's a bit too trusting). They have made it clear to her that they will keep the £500 which is pure theft. I was so appalled that I helped her locate another flat which happens to be cheaper as well. I have every intention of chasing this up on her behalf and, out of principle, will even help her take it to court if I have to. Local press/consumer protection programmes will be notified as well - hopefully they will take it up. Winds me up every time I look at it...look at those charges...inventory contribution?? And a random amount as a deposit...?? Thanks all. I'm on it.
  11. 2 Bed Flat in Basildon, Essex. She is a nurse with with perfect credit but earns £25k basic before overtime/agency work. Appalling that rents are so high that a professional now needs a guarantor to get a place to live.
  12. Anyone know what date the ban actually starts? I cannot seem to find that bit of info when I google....
  13. Hello everyone. Just thought I'd pick your brains about a situation I'm helping deal with. A friend found a flat to rent and the agent went through the process and charged her loads of fees for this, that and the other. (I know, should have waited a week but hey ho). Payslips, bills etc were submitted at the time and it was all good. She signed her form and paid what was listed as a GOODWILL FEE of £500. This was to be deducted from the total when she comes to pay the rent plus deposit so she was happy with that. A day later the lettings agent called and said she would need a guarantor - not for bad credit, but because she earns under £28K. This was not mentioned before she signed and paid and requires a further £120 to process the guarantor (that's where I came in). She has been told that if she cannot/won't find a guarantor or walks away then she would lose her £500 "goodwill fee". I asked her to send me images of every piece of paper she had and nowhere in the document she signed does it mention that the goodwill fee is non refundable. Also, and I think quite significantly, even if it was, the total sum of their charges is less than the amount paid as a "Goodwill fee" - how can this be fair? So basically they took her money then moved the goalposts to try and extract more money or get a free payday. I have included a picture of the charges page Is this legal and what are the options. Their attitude is "deal with it" thanks
  14. Missus not very happy right now. Made an offer £5k under asking and got rejected. Seller wanted to meet half way last night but got an email this morning saying another first time buyer had offered asking price so that's that. From what I could gather off zoopla etc , the asking price is the highest for a house paid on that road...so year, market is still treading. Previously offered £10k below on another property and that was rejected - that one still yet to sell. Was expecting something in the budget today but doesn't seem to be much going on. Hope I made the right decision but only time will tell.
  15. It is crazy down here! Exactly who is buying these houses and where is the money coming from? These 30 - 35 year mortgages and pyramid propping government help to buy schemes do not help. Am under pressure from the Mrs to buy now...sucks.
  16. Thanks RickyD. Excellent info! We are first time buyers and our deposit is only between 10% and 12% (depending on property found), so LTV will be appoximately 90%. I have played around with calculators and can comfortably absorb a number of interest rate rises after the 2 year initial fixed rate mortgage deal. Also banking on reducing LTV to at least 85% at remortgage time for better rates so might even out any ineterest rises. I will have to look into the Margin Call thing...never heard of it but the scenerio you painted is quite worrying... Article 50 is due to be triggered by end of March so not long to go. If we did come across a suitable property, is putting in an offer and then waiting it out before completing (while surveys and stuff take place) an acceptable ploy?
  17. Hello, thanks for the response. Does that mean that the expected reduction in prices say a year from now would more than offset the cost of a year of rental payments which for me is around £15K? Also, is the dip in prices more likely to be a permanent one rather than a blip before prices shoot up again. I guess I am looking for further informed clarification of the expected effect of the various national changes that have recently occurred (BTL for example) and are upcoming (Brexit, interest rates etc). Thanks
  18. I'm looking to buy in Southend area of Essex (South East England).
  19. Hello all I am new to this valuable and hope you can share your thoughts. My partner and I have managed to save up about £50k which should be enough to cover deposit and costs for the purchase of our first home. The question is whether to buy now or wait? We are renting at the moment in a nice but smallish 3 bed semi and would like to buy something along those lines. Prices for such properties are from around £350k - £400k which I feel is very high. Around £300k gets you a mid terrace. Our ideal property would currently have a repayment higher than our rent cost. I am prepared to wait if it makes sense to. I have read a lot on here about BTL changes, rising inflation and possible interest rate increases, Brexit etc...so much going on! So I am confused on what to do. I'd rather not rush and pay over the odds only for prices to drop. Wait or buy now? All thoughts are welcome Thanks
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