House Advice

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Pop said:
I thought most banks won't give you a mortgage for more than the house is worth?

So if the house is worth 80k they will only lend 80k.
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That’s a 100% mortgage ,they don’t do that as far as I’m aware.90% or something along those lines now I’d say.
 


Gillythedilf said:
Mortgage company will have something to say about that aswell.
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Aye they’ll say it’s a loft, amazes me all the folk that try and bullshit that 4th bedroom....with the caveat it isn’t habitable meaning it’s got some chipboard down and maybe a bit of plasterboard on the roof 😂
 
Boz33 said:
...unless your nice one marra then it’s a tip in a shit street 😂
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So you are advising he leaves the house he is in and buys an even worse one on the same street? I'm sure his lass will love that idea.
 
niceonemarra said:
Good advice for property developers but the OP is clearly buying to raise a young family. Is sounds like its the first time he has bought so advice like buying the worst house on the street is just dumb.

He should avoid a new build (as they are clearly shit)and NOT buy an absolute piece of shit house that's clearly falling to bits. No wonder the landlord is desperate to sell up.

OP have a shop around and see what's on the market like the more sensible posters on here have said.
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I work in property investments ffs, I value houses regularly so pipe down there ya knacker :rolleyes::confused::neutral:.
 
Boz33 said:
Aye they’ll say it’s a loft, amazes me all the folk that try and bullshit that 4th bedroom....with the caveat it isn’t habitable meaning it’s got some chipboard down and maybe a bit of plasterboard on the roof 😂
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Cut structural timbers out etc will be their crack.
 
Gillythedilf said:
That’s a 100% mortgage ,they don’t do that as far as I’m aware.90% or something along those lines now I’d say.
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Sorry Adam, you are correct as always che.

They'll do a borrow based on the actual value of the house with x% as a deposit.

Although I'm sure I read somewhere that some banks are doing 100% mortgages again.
 
look out piano said:
I work in property investments ffs, I value houses regularly so pipe down there ya knacker :rolleyes::confused::neutral:.
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Well then you should be giving the OP sound advice not telling him to buy the most run down piece of shit he can find.

Boz33 said:
Who said stay on the same street like? You buy the worst house on the best street you can afford🙄 are you pissed or something?
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The OP said he lives in a really good street. You and some of the other idiots on this thread are advising him to buy the shittest house he can find (on a good street). It really isn't sound advice unless he's a property developer which he isn't.
Lambchops said:
You just stick to your mams back bedroom and leave the grownups to talk
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You are weak as piss at arguing, you always just resort to childish name calling.
 
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niceonemarra said:
Well then you should be giving the OP sound advice not telling him to buy the most run down piece of shit he can find.


The OP said he lives in a really good street. You and some of the other idiots on this thread are advising him to buy the shittest house he can find (on a good street). It really isn't sound advice unless he's a property developer which he isn't.

You are weak as piss at arguing, you always just resort to childish name calling.
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I don't argue
 
Pop said:
Sorry Adam, you are correct as always che.

They'll do a borrow based on the actual value of the house with x% as a deposit.

Although I'm sure I read somewhere that some banks are doing 100% mortgages again.
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Some still are but invariably they’ll work like the old guarantor mortgages where a family member will put say 10% deposit into an account with the lender and get interest as normal etc but can’t touch it...the lender will give the 100% mortgage to the borrower and the guarantor will get his deposit back after say 5 years as long as the borrower hasn’t missed payments
 
If you can afford to buy, take time to consider options around mortgage. Great to do up a house and have it lovely now but much better to invest in the fabric of the building, roof, windows etc which help retain/increase value. Never be tempted to go for vanity projects unless you want to be paying mortgage the rest of your life. Wise investment now will reap rewards later. Stay away from new builds, until 5years+ after all of the faults have been identified.
 
Heffer said:
I think they have tried to make it out as a 4th bedroom but it's not done to building regs. Like I say we dont use it like a room.
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Problem with that is it’ll always be a loft come sale time, saying it’s not got building regs is like selling a car and saying yeh it’s a car, it just hasn’t got an engine
 
These garage conversions seem popular these days but when you come to sell you will probs find your investment was short lived. If your going to extend do it the right way.
 
Boz33 said:
Problem with that is it’ll always be a loft come sale time, saying it’s not got building regs is like selling a car and saying yeh it’s a car, it just hasn’t got an engine
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I've always understood that you would get the vendor to pay for an insurance premium to cover the lack of building regs.
 
Heffer said:
I've always understood that you would get the vendor to pay for an insurance premium to cover the lack of building regs.
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The more relevant question would be why hasn’t it got building regs?
I’m assuming it’s a bit of a botch job done by the vendor himself at some point
 
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