money money money

[kylie]

well as youve probably heard me mention before me n my boyf are getting a mortgage. weve been saving for a deposit for a while now and nearly got up to the amount we needed. now its all being processed and we have to fork out for: arrangement fees which about 500 quid
: legal/solicitors fees which can cost up to 900 quid for searches on the land, property, area etc so it all comes out separately say 260 for search fees 300 for this 400 for that etc
: and valuation fee/survey fee about 260 quid

slowly our deposit is falling and we're getting back to where we started. oh my god i am so skint and im saving every penny i have to make sure that we will have enough. on top of all these fees and mortgage payments there are bills and council tax etc.

:wall:

[Danr]

You'll need a fair old deposit now as well. The majority of lenders have pulled their high loan to value mortgages!

[matthewslee]

when i got my morgage i put all these charges in with the morgage ok it adds to the morgage and costs more but in the end when getting a new house you dont want to be paying solicitors you want the basics for your new home

[Hannah]

Good luck getting a mortage now. A few companies have stopped receiving applications!! :sad:

It's stupidly hard to get on the property ladder now. Unless you live up North. Can't even buy a flat for less than 200k down here!

Doubt I'll have my own pad for a while yet! lol.

Hope you get it all sorted though. Do more overtime! :P lol

[vtsRob]

Good luck getting a mortage now. A few companies have stopped receiving applications!! :sad:

It's stupidly hard to get on the property ladder now. Unless you live up North. Can't even buy a flat for less than 200k down here!

Doubt I'll have my own pad for a while yet! lol.

Hope you get it all sorted though. Do more overtime! :P lol

Same here hannah,

makes me feel sick when mum is watching that programme ''Place in the sun'' or whatever its called, and they have like a 5 bedroom, house with swimming pool, tennis courts and double garage with 5 acres of land in like cyprus for like £85,000 :wacko:

Im from southampton, and even a rough 1 bed flat in a rough area is like £140,000

ffs a beach hut down calshot beach went for 107,000 WTF

[VTR-LEE]

tell me about it getting on the ladder is hard, i was doing double trips at sea on oil tankers to get my deposit did 8 months dint spend nowt coz i was at waork in the middle of nowhere and even with a 25k deposit found the first year hard, how the hell are young people supposed to get a house when the prices are so high its ok for parents sayin when i was your age i had my own house they were like 30 k for a 3 bed house the bas#ar#s

[Col_VTR]

Do feel sorry for anybody trying to get on the property ladder now, think we done it at the right time, nothing goes for much less than £100K up here and thats in scotland

[VTR-LEE]

Do feel sorry for anybody trying to get on the property ladder now, think we done it at the right time, nothing goes for much less than £100K up here and thats in scotland

when did you do yours then? some of the younger guys cant go back in time can they the prices are high , 6 years ago would of been perfect but we dont have the luxury of picking our ages

[Mark51]

did you not expect to pay any solicitors fees?

theres also the searches you have to have done aswell which about about £200-£300 then ,without sounding too pesermistic, if the sale does go through then you still have to pay for the work you have had done

[VTR-LEE]

Welcome to the world of the money pit!!

[bexster82]

Same here hannah,

makes me feel sick when mum is watching that programme ''Place in the sun'' or whatever its called, and they have like a 5 bedroom, house with swimming pool, tennis courts and double garage with 5 acres of land in like cyprus for like £85,000 :wacko:

Im from southampton, and even a rough 1 bed flat in a rough area is like £140,000

ffs a beach hut down calshot beach went for 107,000 WTF

i 2nd that - i live in southampton too - a rough part aswell - cant afford move!!!!!

[laura_g]

i will never be able to afford a place in this country its way to over priced and just get taxed left right and centre, thats why im saving up as much as i can n goin to australia woop woop

[acemastr]

buying a house at this time is a big mistake.. the market is heading for a fall within the next 2 years or so and negative equity is not a good thing, i urge you to have a good think.

[kylie]

did you not expect to pay any solicitors fees?

theres also the searches you have to have done aswell which about about £200-£300 then ,without sounding too pesermistic, if the sale does go through then you still have to pay for the work you have had done

yes we did excpect solicitors fees but once you see all the costs written down infront of you it just seems to hit you hard. we are lucky though as we have had a mortgage accepted and while we were getting it sorted it kept coming up on computer that alot of lenders were withdrawing so we just got in there.

dont get me wrong im not winging about it all, it just seems though that you work hard to save all this money and you just end up giving it all away here there and everywhere. there are some searches they you dont have to have done like church funds or something and to see if they are building around you. we already know that they have planning permission to build some houses across the street and want to build some bungalows near our house. but maybe worth getting it all anyway. its just a whole lot of money! lol

hopefully be worth it when/if we finally move into our own house. fingers crossed:p

[MaRiO89]

Stay at home ftw..lol

[bullit]

my outgoings are about 1k a month lol

[RedB]

Talk about a kick in the nuts!

Sorry to hear that but the only way is to work your ass off or buy a few cheaper properties before to do up then sell on for a quick profit which you'd re-invest in the new property...

Good luck and hope you get everything sorted soon :)

[kylie]

cheers for all this dudes. i know people say its a bad time to buy at the minute but when is a good time tbh? cant live at home much longer as mum n dad want the house back and my boyf is 27 so its definitely time he moved out lol. it was either mortgage or rent and renting is dead money in my eyes. we would never be able to save for a mortgage if we were renting. gotta start some time i suppose.

[bullit]

there must a scabby flat knocking about somewhere

[Tupps]

Expensive month for me

Saved since january, bought the car...

Off to florida in 3 weeks, bought new clothes, booked a 2 week all inclusive holiday and now ive just seen some wheels i want

Sucks having no money

[bullit]

tupps ftw

[kylie]

there must a scabby flat knocking about somewhere

dont want a scabby flat tbh. we talked about buying a house that we could possibly do up and make money on but at the minute we just want a nice house we can live in together. with us both working full time, decorating and doing a house up would be too time consuming and would never really get finished. we've worked out the money we are going to have each month and we're not going to be totally skint (hopefully). luckily we will prob be moving in around summer time so wont need to use much leccy or heating etc.

and in winter..................lots of wooly jumpers:p

[KamRacing]

I bought my first house last year at 29. The average first time buyer is unbelievably 34!
Personally I wouldnt rush to get on the market. You need to budget for the solicitors fees, stamp duty, surveys and a deposit. Then you have the fun of mortgage payments, council tax, gas/electric/water/insurance so plan to add about £300 p/m on top of your mortgage repayment.
shortterm its not a good time to buy but as ever demand will drive up prices once the financial markets have stabalised. I personally do not believe the market will crash as we still have a lack of houses being built so demand is still there even though people are currently panicking and staying away.

kev

[ShaneVtr]

when my nana first bought her house, its a 3 bedroom semi with a large drive and large 2 car garage(that she still has today) the morgage was £4000. how depressing is that.

[laura_g]

lol bargain tbh ^^^, think the best way to get on the property ladder now is to go to auctions and do the house up to how you want it

[ashleybvts]

Glad i bought last year now. Try look at a new property as mine was only £100k but the builder (redrow) paid my 5% deposit! I moved in for £99.........

[Danr]

buying a house at this time is a big mistake.. the market is heading for a fall within the next 2 years or so and negative equity is not a good thing, i urge you to have a good think.

that is horseshit.

[Hannah]

when my nana first bought her house, its a 3 bedroom semi with a large drive and large 2 car garage(that she still has today) the morgage was £4000. how depressing is that.

Lol. Thats mad. Bit like my Mum and Dad.

Back in 1985 they bought a mid terrace 3 bed house with a garage for £18k sold it in 2004 so 19 years later for £160k. House we're in now - 3/4 bed detached bungalow, with garage + drive bought for £180k now worth 3 years later £250k+.

We're all fucked lol.

[bullit]

house prises went down 2 percent again. youll be fine in no time. lol

mines killing me doing it up but i know it will worth it in the long run ;)

[kylie]

should be ok. we earn enough between us to pay for mortgage and fees and bills. its just getting started with furniture etc. luckily the parents are providing us with few things like sofas n stuff. have asked for new washing machine n will need a cooker. it either new washing machine or coming home to the parents at the end of every week to do a big wash. think for the first few months in our new house we will try n spend as little as possible on things like going out and other leisures, just to see what we are left with at the end of the month. then after that we know pretty much what we have left to spend. cant wait! hope it all goes through ok.

[bullit]

ebay is your friend

[kylie]

ebay is your friend

:fcuk: dint think of that!:y:

[AlexR]

Money makes the world go round *sings*

[kylie]

money is the root of all evil!