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Just make sure the £15000 comes from a deemed acceptable source, seems like unsecured loans and gifts from none close family aren't acceptable but i don't know enough about it to be sure https://www.onlinemortgageadvisor.co.uk/other-mortgage-info/where-can-my-deposit-come-from/
laner-
Just make sure the £15000 comes from a deemed acceptable source
This
A decent solicitor should pick this up
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Thanks.
The deposit is 100% covered from my own savings.
The shortfall is part of the stamp duty, fees and moving costs so I am not sure it matters as it seems unrelated to the borrowing part, but I'll point it out to my solicitor in case it isn't immediately obvious that free money has arrived from an external source (still UK though, which I've noticed seems to matter).
NotThamesWater
Velocio
@cake I think Fi and I shall be looking to you to be our local guide. We can pay bribes in alcohol or dinners.
Separately, I've now found the extra £15k I needed... the universe is still working as I hoped it would. Life remains weird. Clearly I'm over-extending though, to have needed that, and that's going to be something very tangible once we move in as we'll not be able to do much with the property for a long while. Thankfully, it's really nice and nothing is needing to be done.
I've been doing the valuation scoring based on what I perceived was the avg sq ft price, and there was huge deviation across London, everything from £500 per square foot for ex-council / needs overhaul, through to around £1k per square foot for marble lined bathrooms and Neptune kitchen with a garden. For the places we were looking at we were seeing prices consistently around £750-800 per square foot for being quite average. The place we are attempting to buy is £693 per square foot and above average condition, comparative places nearby are closer £800 per square foot.
Yes the place is at our upper end of affordability (because it's larger than what we were looking for), but I think we're getting a really good deal and are just very fortunate that the personal circumstances of the seller (they've bought in Surrey and are paying twice, and their child starts at a local school there imminently) resulted in them needing a quick sale.
We are stoked. And we also have a huge loft to hide all our skeletons in before we convert it into a bedroom or dungeon or observatory or something.