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-   -   I JUST BOUGHT A HOUSE (http://www.matt-hughes.com/forums/showthread.php?t=8779)

Tyburn 11-19-2011 03:57 PM

I JUST BOUGHT A HOUSE
 
:scared0011:

Anyone who follows my blog will know what ive been up to recently.

I got accepted! I am going to buy a house! Its a little semidetached house It has two Grass lawns in the front and a path to the door, a little vestibule, and then the front livingroom/dining room, and the kitchen. It has a spiral staircase to the first floor with ensuite and bedroom. In the back garden, accessed through the kitchen there is a Garden on three levels, the first is a patio with a shed, the second is a lawn, and the third is a bit of wasteland with a back gate and path to a private carpark behind!!! All the doors are on rails, so they are like blast doors that fold into the wall, like the one between my current bedroom and lounge in Granville.

My Parents are paying the initial deposit, my financial advisor has sorted out a thirty five year fixed mortgage (for the first five years) of about 100 pounds less then the rent I am paying now. Which will be taken up with travel costs and higher council tax. (its a mile from work, near where I used to go to the gym!)

The House initially went onto the market in June at 105K the current owners were bequithed it in a will and do not live there. they are renovating their own home with the sale of the second. So their is no chain, as I also am in Rent and could pretty much leave whenever. The house didnt sell and was reduced to 90K at the start of the fall.

I had been looking for part buy-part rent, but that wasnt going so well, and was about ready to move straight into different rented accomodation when my Parents said three weeks ago, we should have one last try, but the house was a full buy prospect. Two weeks ago we went round, and the current owners happened to be at the property and gave us an impromptu viewing. I liked it enough...and last week my Parents sat down with a financial advisor to see if they could be my Gaurentours.

Following this the Financial advisor began brokering at the start of this week with banks for a mortgage. The way it works is that my parents are culpable for the costs if something happens to me. Also...sticky situation if I die, they are left to pay a motgage but wont own the home...so I need to make a legal will to leave it to them so they could pay the mortage in full from the sale upon my expiration :laugh:

He presented the offers to us in a conference call on Thursday and we put in an initial bid of 83K on Friday. This was rejected, and so we haggled to a price of 86K which will leave enough in the mortgage of 90K to cover the legal fees inclusive.

I have just heard that vocal aggreement has been given, the house is about to be removed from sale pending further advancements in the sale. On Monday we shall have to finalize the mortgage and for that the Estates will want to do a valuation Survay....meanwhiles the contracts will be drawn up and prepared for me to sign by the lawyers.

Once all that legal shyte is done...its a matter of goodbye granville...hello jennyfield!!

My first port of call will be to turn the shed into an outside avery!! :happydancing: my OWN HOME!!! probably just after Christmas :ninja:

Neezar 11-19-2011 05:22 PM

:happydancing:

I have very happy for you, Dave.

Bonnie 11-19-2011 06:27 PM

:w00t: This is wonderful news, Dave! I'm so happy for you! :)

Chris F 11-19-2011 06:44 PM

congrats Dave. I pray you have better luck than I have with my first house

flo 11-19-2011 08:16 PM

That is GREAT news, Dave, I'm so happy for you!!! Woohoo!!

Now was this through Freddie Mac?

Heh, just teasing, Congratulations!!! :happydancing: I wish we lived there, we have a nice glass and chrome computer desk, kitchen table, etc., we could donate to your cause. :)

rockdawg21 11-19-2011 10:46 PM

Oh my God! Banks are still giving out bad loans? :fighting0092:

MattHughesRocks 11-20-2011 02:21 AM

That's awesome Dave! Congrats! :w00t:

Tyburn 11-20-2011 07:17 AM

Thank you everyone...this is going to be AMAZING!!!!

Chris...what happened with your first home :huh:

Rockdawg...so long as I keep my job all shall be well...the banks are doing it for three reasons...first its a THIRTY FIVE year mortgage NOT your usual Twenty Five...Secondly...as my parents are Gaurentours...well...they can be certain of getting their money back from someone else if I cant make it.

Thirdly...in this day and age its hard to find someone in safe full time employment.

So :tongue0011:

rockdawg21 11-20-2011 07:33 AM

You crack me up Dave, I'm always teasing you and you take it so serious, haha!

Of course I'm happy for you man, that is AWESOME!!!

Primadawn 11-20-2011 05:32 PM

Congratulations Dave--that is SO exciting! I'm so very happy for you! No more war with a landlord!!! :happydancing:


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