The House Thread

[Boydy]

If you are prepared for a bit of a gamble. Hanley Building Society have a 5% discounted rate(will change as and when they change their variable rate which generally will be when the Bank of England change the base rate) that's about as cheap as any fixed rates out their at the minute and will go down if the base rate falls.

On fixed rates if you've got less than 80% loan to value something beginning with a 4 should be achievable say 4.7/4.8%. I'd say look now and secure a rate and then if rates fall between now and September you can always take a new rate. At least you know that what you have now is as bad as it can get.

There you go, Yev, don't listen to me. I didn't realise you could sort something now and then get a better deal in September if there's one available.

[Boydy]

5 year rates are still cheaper than 2 years at the minute which is a bit of an anomaly. But, as I have said to my customers banks will happily lock you in for 5 years at 5% if they are confident rates will fall at some point in the short term.

I was assuming a cut in the next few months would signal the start of rates coming down but they would probably do so slowly. So the longer term 5 year fixes might price in more cuts over the coming years but banks wouldn't be expecting rates to fall that much within 2 years so we'd maybe see 5 year fixes staying lower than 2 year fixes?

[Yevrah]

If you are prepared for a bit of a gamble. Hanley Building Society have a 5% discounted rate(will change as and when they change their variable rate which generally will be when the Bank of England change the base rate) that's about as cheap as any fixed rates out their at the minute and will go down if the base rate falls.

On fixed rates if you've got less than 80% loan to value something beginning with a 4 should be achievable say 4.7/4.8%. I'd say look now and secure a rate and then if rates fall between now and September you can always take a new rate. At least you know that what you have now is as bad as it can get.

Cheers Luke, I'll get on it.

[Luke Emia]

Cheers Luke, I'll get on it.

Just check with your current lender if they lock you in if you take a new deal with them. Depends on the lender if as some will say if you take a new deal with them you can change it before your current deal is up if they have a better deal. But, won’t let you move away from them.

[phonics]

Dream viewing this week. Gonna be hard not to mark out and offer on the spot

2 bed flat with newly fitted ensuite, brand new kitchen and this terrace for <200k

[niko_cee]

Is this in Worcester? The place where everything vaguely near the river ends up underwater? Are you sure about this?

[phonics]

Thankfully that's a canal not the river.

[Shindig]

I've been ruling apartments out of my search but I'd imagine 200k means you're not hearing the sods above/below/to the side of you.

[phonics]

It's an extra 50 thousand pounds to avoid that issue or cut the space in half. My current place has an fire alarm that beeps every 30 seconds if the flat isn't at 27 degrees. I can survive it.

[Shindig]

Fair dues. Looks like a nice enough deal with the kitchen and bathroom. I'd love to just walk into a place within budget with no extra work to do.

[SvN]

Aren't you at risk of getting absolutely bummed by service charges with flats? It's what put me off.

[phonics]

Aren't you at risk of getting absolutely bummed by service charges with flats? It's what put me off.

It's an absolute ripoff, I'm looking at about 110 quid a month but I refuse to buy a place managed my certain people and this one is a good one. Mortgage + Service charge would work out at about 250-400 quid less than my current rent.

[Luke Emia]

Yeah check the lease out Phonics before you offer and don’t listen to what the estate agents say they never have a fucking clue.

Check that the ground rent doesn’t have an escalation charge as lenders won’t generally allow that and it normally also can’t be more than 1% of the value of the property.

Then with the service charge find out how much it is and again what if any escalation charges there are as lenders aren’t as fussed by the service charge but I’ve seen some horrendous ones down the years.

[Lewis]

I got lucky with my service charge. We own the freehold, so we pay for building insurance and to keep the lights on in the hallways, and then if anything else crops up, like when our roof needed new insulation, it gets split seven ways. The flats out there rinsing two per cent of the value every year are a joke.

[Jimmy Floyd]

I wouldn't mind my service charge if they actually did any service. As it is, I'm out there pulling out the weeds in the communal parking with my bare hands.

[niko_cee]

Had an offer accepted on a wreck so am about to blight the next few years of my life on some sort of Grand Designs style folly.

Hopefully I don't end up like this mook.

Pretty sure the main clue that that was going to be a disaster was that the architect wore a bow tie and appeared to see himself as some sort of David Hockney-esque character, so I'll try to avoid using one of those.

[phonics]

Glad you closed on your place. Can't wait to see what you do with it.

[Sir Andy Mahowry]

It's got character.

[wullie]

I heard Purple Bricks are a bit shit, but to not even COOK PASS BABTRIDGE the front is lazy.

[Yevrah]

Does the asking price reflect the fact that you will forever be associated with kiddy fiddling by moving in there? I'm not sure what sort of price reduction I'd need to accept that.

[phonics]

125 grand for that part of Swansea, apparently you're getting no reduction at all.

[Ben]

I heard Purple Bricks are a bit shit, but to not even COOK PASS BABTRIDGE the front is lazy.

Purple Bricks are very shit. We had to deal with them when buying our house last year.

[Yevrah]

125 grand for that part of Swansea, apparently you're getting no reduction at all.

Yeah, that seems a terrible deal then. Maybe would appeal to a paedo who's been outed in another area and is hoping people will see a different person move in and know their local pederast is gone, allowing him to operate unimpeded again, but that seems like a narrow market to be pitching to.

[Baz]

I like the nonces wall, but looks like it could be about 2 foot longer.

[Shindig]

With the housing crisis, we really should think twice before demolishing serial killers' homes.

[Mike]

I like the nonces wall, but looks like it could be about 2 foot longer.

Nah, they’ve been smart and kept access to the back through that gate. As someone whose house has no access to the back due to an extension, I’d love that little gate.

[Baz]

Nah, they’ve been smart and kept access to the back through that gate. As someone whose house has no access to the back due to an extension, I’d love that little gate.

I meant the front garden wall.