Thanks Ticha for always sharing your stories and experiences. So much to learn from you.

Ticha:


Hmnn, we have been incredibly lucky with a series of being in the right place at the right time, finding friends who were open to combining resources with us and Covid. Covid has been both a blessing (sorted our finances and gave us clarity of thought around plans) and a curse (lost a few friends and family).

We still have to work, after all our properties are mortgaged heavily except 1. However if shit hits the fan, we can just sell down and pay off the debts and be fine.

DadR:
Hi Chief,

Please do you know if Persimmon gives 5% deposit contribution as incentive for the their developments in NW, Lvpl precisely?

Thanks

Yes, they do, but it may be based on tight negotiations but YES, they do. Initially, my folks said they couldn't give me but the Mortgage Advisor they recommended helped me push for it when he saw I was serious but needed that 5% to make it work ASAP

Lexusgs430:


Yes...... It would shorten the length of your mortgage term.........

Solumtoya:


Depends on the Lender actually. Some will shorten it, others will reduce your subsequent monthly repayments, many others will do nothing till your contract expires. Again, some lenders give you the option.

Ok thanks, will give it a go though and see how it turns out.

jedisco:


I believe you are a teacher (correct me if I'm wrong)- what do you think of the recently streamlined pathway for teachers to come in and career prospects in that field.

I still have at least 2 moves in me o! Sans children sha hopefully. Although if any good opportunity comes, we shall snatch it one hand!

I am a teacher, although I don't teach anymore. It's brilliant that there's a dedicated pathway that enables qualified teachers to come in.
There are always teaching jobs available, if you can hack it because the misbehaviour no be for here and teachers' hands are tied! It's good as a stepping stone into other careers anyway and QTS is accepted in several countries without needing to retrain.

The salary is relatively good if you take the 13 weeks (technically 10 weeks because of planning) holidays into consideration. Especially if one avoids the South East completely. Academies can now also give bursaries/scholarships - it does bond the teacher however that ensures that you also have stability for a while.

dupyshoo:
Thanks Ticha for always sharing your stories and experiences. So much to learn from you.

Thank you ma'am! 😍😍
We learn from each other all the time. That's the beauty of thos forum (most of the time 😅)

justwise:


When you overpay does it automatically adjust the repayment year?

Yes, it does...

Ok, thanks a lot for the feedback.

Solumtoya:


Yes, they do, but it may be based on tight negotiations but YES, they do. Initially, my folks said they couldn't give me but the Mortgage Advisor they recommended helped me push for it when he saw I was serious but needed that 5% to make it work ASAP

justwise:


When you overpay does it automatically adjust the repayment year?

Not necessarily, it just reduces the balance and the monthly payment. But if you are on a fixed term l, monthly payment usually remains fixed though your balance is reduced so some part of your monthly payment will be an overpayment, the repayment part increases and interest reduces. You can change the term when you remortgage, or after the fixed period.

justwise:


When you overpay does it automatically adjust the repayment year?

Justwise, overpayment does not adjust your repayment year. What it does is, it reduces your overall payment and if you are on a fixed terms it also reduces your monthly payment.

jedisco:


https://www.moneysavingexpert.com/savings/stocks-shares-isas/

This is a good resource to get more detail. All you have do is choose a broker/platform, sign up, decide on it to buy funds or individual shares and how to do that (I.e manually or recurring direct debit). I buy funds so I don't bother about the price of individual stocks. Investengine and Trading212 are about the most competitive for most people now. Both have mobile apps you could onboard with. Trading212 has the added advantage of paying competitive interest on cash not yet invested and they're also giving a cashback on any sum invested this year which is why I used them this year. Investengine has a cleaner app.

This https://monevator.com/compare-uk-cheapest-online-brokers/ is a good comparison of brokers with all the technical bits involved.


I would typically not respond to PMs not out of spite but mainly to maintain my privacy. You could mention me on an old thread in a 'dead' section of NL

makes sense. Thank you

Solumtoya:


My personal experience from Persimmon has been fantastic.

As an aside, you can refer and earn £500. The person referred also gets £500. So if anyone wants to reserve with Persimmon, try and get someone's Referral Voucher first.

. Send me your referral code. Let’s give it a trial. I will DM you now

Ticha:



The salary is relatively good if you take the 13 weeks (technically 10 weeks because of planning) holidays into consideration. Especially if one avoids the South East completely. Academies can now also give bursaries/scholarships - it does bond the teacher however that ensures that you also have stability for a while.

Handling kids + parents is the main headache I see. Perhaps younger kids will be less problematic (not that any group is easy)
Any reason for the bolded?

Stumbled upon this thread on Reddit
https://www.reddit.com/r/HousingUK/s/IIJStJhg0h

I wonder what the experience of folks here have been regarding social housing on new estates. Would it be avoid at all costs or it doesn't really matter?

When I was buying, a house I was targeting (big flat garden) was directly opposite a terraced group of social houses. A friend advised I skip except I want to be 'watching a drama series' through my window. A few home owning friends mentioned same (in addition to avoiding semi's or terraced) and although I didn't think it was a big issue, I heeded their advice and took another plot which overlooked a natural landscape with the SH slightly behind. Glad I made that decision.

Despite being a 'nice' small estate in a good area of town, most the police presence so far has had to do with the SH houses. One night, it was screams all thru from one of the houses. Their Kids are constantly in the street playing- mostly in front of my place which is the nearest close. I'm not bothered by their play but how late they keep makes me wonder. Many times still there past 9pm in summer. The annoying part is occasions where I heard mother and young kid hotly exchanging swear words. Looking into their garden in the morning you'd sure be met by a sight.

Odd thing that the adjacent shared ownership SH has a much different vibe to the rented ones.
I remember asking the developers who gave me a look when I asked about the location of SH. I later asked why the most expensive houses on the estate were tucked a good distance away from the SH. Also many of the SH have a good setback from the road reasons which are becoming obvious with time

Overall, I'm happy with my choice- but if buying again would be sure to again ask for the location of SH and try to keep my distance.

@ jedisco,

The 'quality' of neighbour you have can affect your peace, mental health and value of your property.

jedisco:
Stumbled upon this thread on Reddit
https://www.reddit.com/r/HousingUK/s/IIJStJhg0h



Overall, I'm happy with my choice- but if buying again would be sure to again ask for the location of SH and try to keep my distance.

I just went through half of the comments on the link you posted.
What I deduced:
1) Not advisable to buy a new build as percentage of them are SO and HO as backed by government policy.
2) If you are having difficulty with neighbors, things will never change for better as their kids grow, they become more feral.
3) Reporting neighbors to council may reduce the value of your house as at when you want to sell it.
4) Your peace of mind is impeded.
5) Your child/children if there is/are any may grow up and mingle with kids from bad parent smoking joints, fighting and shouting all day everyday.
6) Your personal effects are not safe.
7) Your safety is not guaranteed.

Many more things to write but I will stop here.

Na to shine ✨ eye when person wan buy house be that…


Most people on the post advised Old builds in a good location is far better than New Builds…

jedisco:


Handling kids + parents is the main headache I see. Perhaps younger kids will be less problematic (not that any group is easy)
Any reason for the bolded?

You get used to handling parents. It's no different to working in retail or telephone customer service. The kids are easy to deal with. A lot of their misbehaving is reserved for home and the streets.
SE - highest cost of living, biggest population so bigger classrooms.
Teaching salaries are the same everywhere. The uplift for London is about £6k. That does not offset higher rent, transport etc.

AKALAMAGBO:


I just went through half of the comments on the link you posted.
What I deduced are:
1) Not advisable to buy a new build as percentage of them are SO and HO as backed by government policy.
2) If you are having difficulty with neighbors, things will never change for better as their kids grow, they become more feral.
3) Reporting neighbors to council may reduce the value of your house as at when you want to sell it.
4) Your peace of mind is impeded.
5) Your child/children if there is/are any may grow up and mingle with kids from bad parent smoking joints, fighting and shouting all day everyday.
6) Your personal effects are not safe.
7) Your safety is not guaranteed.

Many more things to write but I will stop here.

Na to shine ✨ eye when person wan buy house be that…


Most people on the post advised Old builds in a good location is far better than New Builds…

This is accurate.

I currently leave in a secluded estate.
Built around 2004
40 detached houses located in the entire development.
These detached houses are a mix of 3 to 5 bedrooms.
No flats or social housing or housing association
No antisocial behaviour of any kind
My own is located on a "close"
I'll be very upset if I had unruly kids playing in front of house and disturbing my peace and privacy.

Yes, the house didn't come cheap but it's worth every penny and I'm glad I waited until I saved enough to buy it rather than falling for the "rent money is dead money" mantra.

Has the house increased in value? Yes
Is it a highly desired development and neighbourhood? Yes

As someone that has previously lived in a "new build" where a section of the development was given to social housing and i witnessed it all (loud banging music at 2am, etc), I will go with an "old build" any day anytime.

What do we look out for please??

Cos plans to start looking for house starts next year…

AKALAMAGBO:



Most people on the post advised Old builds in a good location is far better than New Builds…

Lots of variables to consider.

I'd prefer to look at it based on individual locations and make direct rather than blanket comparables. In some parts, old builds are more expensive or equally priced as new builds. New builds are generally very energy efficient and nothing triggers me like having a 3 or 4 bed with one toliet- not surprising was that was the first thing I checked on any house. Another advantage of new build for first time buyers is that the developers make the process easier.

When I was searching, I considered a number of old builds but most had one issue or the other and hardly justified the asking price. Those that ticked all boxes were more expensive or equally priced.

UK in general a preference for the old. Also on Reddit, its worth being aware of certain nuances e.g when folks generally complain about the 'build quality' of new houses while turning a blind eye to same issue in old houses.

deept:
@ jedisco,

The 'quality' of neighbour you have can affect your peace, mental health and value of your property.

Finally... There are people you don't want to live next to- from work, I sabi them wella. Thankfully, haven't had any significant issue on mine. Regarding the HA tenant I mentioned, sometimes our eyes would cross on my way to/from work and we'd exchange 'hello's'. Na why when missjekyll on the other thread mentioned hospital referral as a panacea for sick notes, had to ask if she'd experienced the social system before.

Funny thing is I was about the first black owner on the estate so perhaps some were sceptical of me. Remember meeting my neighbour and about the first question he asked was where I worked. Almost told him I was an assylum seeker. The last census mentioned only 1 black person on the estate. Now we are more but less than 5 families

Asking for a friend......

Please, what is the average length it takes to finalize a house purchase? My friend has her deposit intact but started Lisa a bit late, still have like 5 month before her Lisa is matured for withdrawal, however she has seen a house she likes and wanted to put in a offer......the questions are, will it be reasonable for her to start now or wait till like November and how low can she offer in differential to the asking price?

abuhusna1:

I posted it for investors basically or those that wants second property
Somebody like me is a property investor so I rather buy lots of cheap houses and pay stamp duty than buy one house for high price cos I mostly buy auction with cash. Just brought it here do other cash investors can tap in. The return 40k house will give you here is bigger than what 100 million naira house will give you in naija cos you can rent 50k hpuse our fo 6k pounds per year but you can't rent 100 million house out 12 million per year in naija and most of those auction houses already have tenants paying rent

I'd like you to share more on auctioning. How does one get started, what are the things to look out for rtc

afroxyz:


I'd like you to share more on auctioning. How does one get started, what are the things to look out for rtc

It's mostly good for cash buyers that doesn't require mortgage because you have 28 days to complete the deal if you win a bid.
If you want to buy in scotland use futurepropertyauctions.co.uk
If you want to buy in England use allsop.co.uk or bondwolfe.com.
If you buy a commercial property you still qualify to be a first time buyer on residential property.
I bought one shop in scotland I won for 43k pounds but everything total was 50k pounds and it was already tenanted with 6500 pounds per annum

If you are bidding auction do your research and don't bid beyond your target so you won't regret your action. Their is always a new property to buy better than the lost bid.
Next I want to buy my own first time house at the market not auction then I will start to buy residential auction of around 50k for rent

Warriorprince:
Asking for a friend......

Please, what is the average length it takes to finalize a house purchase? My friend has her deposit intact but started Lisa a bit late, still have like 5 month before her Lisa is matured for withdrawal, however she has seen a house she likes and wanted to put in a offer......the questions are, will it be reasonable for her to start now or wait till like November and how low can she offer in differential to the asking price?

You know alot about this your friend. Hehe

It depends on a few factors - for old builds, you need to consider if it's chain free, how quick your solicitors are and if issues come out during a search. 2-6 months is about average. So yes, she could start now and complete in about 5m.

Regarding offer price, it also depends on a few things. Mainly price of comparable houses, state of the market and how long it's been on the market. Newly advertised houses are less likely to be reduced. At time goes on, sellers become desperate. Market is slow paced now but has shown some resilience. There's no hard and fast rule- but I'd go with 5-10% less than asking depending on a few bits and not be afraid to up it to asking for a well priced house.
Most would need to bid on a few properties to before they arrive on one the buy so no harm starting early

jedisco:


You know alot about this your friend. Hehe

It depends on a few factors - for old builds, you need to consider if it's chain free, how quick your solicitors are and if issues come out during a search. 2-6 months is about average. So yes, she could start now and complete in about 5m.

Regarding offer price, it also depends on a few things. Mainly price of comparable houses, state of the market and how long it's been on the market. Newly advertised houses are less likely to be reduced. At time goes on, sellers become desperate. Market is slow paced now but has shown some resilience. There's no hard and fast rule- but I'd go with 5-10% less than asking depending on a few bits and not be afraid to up it to asking for a well priced house.
Most would need to bid on a few properties to before they arrive on one the buy so no harm starting early

Thanks alot Jedisco....this is quite helpful✌️

Yes I know alot about my friends.....wait!! you don't believe me😂

Warriorprince:


Thanks alot Jedisco....this is quite helpful✌️

Yes I know alot about my friends.....wait!! you don't believe me😂

Hehe.. I believe you or did you see me doubting you?

Hi guys, I’m new to this forum. I want to begin the process of buying a house, what is the first thing that I need to do? Do I get a solicitor first or should I look for the house first? Can someone also recommend a good solicitor please. Many thanks for your responses.

Keeky08:
Hi guys, I’m new to this forum. I want to begin the process of buying a house, what is the first thing that I need to do? Do I get a solicitor first or should I look for the house first? Can someone also recommend a good solicitor please. Many thanks for your responses.

Get a mortgage first......(Well, not unless you're a cash buyer).......😁💰

abuhusna1:

It's mostly good for cash buyers that doesn't require mortgage because you have 28 days to complete the deal if you win a bid.
If you want to buy in scotland use futurepropertyauctions.co.uk
If you want to buy in England use allsop.co.uk or bondwolfe.com.
If you buy a commercial property you still qualify to be a first time buyer on residential property.
I bought one shop in scotland I won for 43k pounds but everything total was 50k pounds and it was already tenanted with 6500 pounds per annum

thank you sir. How do you know an already tenanted property looking at the site?

jesmond3945:
thank you sir. How do you know an already tenanted property looking at the site?

It will be written tenanted on futurepropertyauctions.co.uk or written investment or with tenant on other sites given and the amount they are paying will be stated only buy it if you feel the payment worth the value.
I always ensure atleast 10% return on rental value of my auction property some are more than 10% just look for the jackpot and be sure you have a solicitor ready to complete the conveyancing