Owning your own home

It's a 65 mile segment, @6pt leads and @skinny is third.

Had a survey completed on the place we’re looking to purchase (1980s build and same owners in it since the very beginning) - nothing particularly worrying in there, and has recommendations to get the electrics, gas appliances and heating system checked and tested.

Appreciate that this is probably in almost all surveys that are completed, but we are keen to get that done for our own peace of mind and future budgeting purposes. We’re assuming there’s no real point trying to negotiate an asking price down regardless of the results unless it comes back to say it’s a ticking time-bomb and you must do x, y or z immediately?

We’re assuming there’s no real point trying to negotiate an asking price down regardless of the results unless it comes back to say it’s a ticking time-bomb and you must do x, y or z immediately?

If electrics / gas / heating are worse than you could expect then it's reasonable as you'll probably spend money to put it right. Whether it's worth rocking the boat to get it takes a bit of careful consideration.

has recommendations to get the electrics, gas appliances and heating system checked and tested

Wording to this effect is boilerplate in every survey; it's not in their scope to test it. I tend to think that an old boiler / electrical CU is something that buyers should notice themselves and shouldn't turn up late in the process.

Maybe ask them to get a boiler service done [at your cost]? That will pick up if there are any actual issues.

Given how ugly the economic outlook is you could probably get away with a little price chip prior to exchange anyway whatever happens. It's a bit of a dick move though...

It was in my survey to do so last year, even though the house had a brand new boiler and heating system, and a new consumer unit and compete rewire.

I did pay for a boiler service on the flat I was selling to give buyer piece of mind.

We're getting our first valuation on our flat today. Apparently there are rumours of an incoming rush to get shit sorted ahead of another base rate hike...whats the hive mind view on that? We're anticipating a long sale process as it took our vendors when we bought it 2 years to sell (slightly weird place, not London), so it may all be academic anyway. Just feeling quite naive to the potential landscape shifts in the next 12-18 months

It’s a bit of a dick move though…

Yep, totally aware of this and I’m definitely not keen to start playing silly buggers…we certainly don’t expect the sellers to pay for any checks at all.

We like the house, it’s at an acceptable price point in an area we really want to live in and even if we had to budget for a new boiler and wiring to be fixed up in the near future it’s that sort of thing you’d expect to happen at some point of living somewhere anyway in my mind.

has recommendations to get the electrics, gas appliances and heating system checked and tested

This is in virtually every survey.

First thing I'd do is have a look at the boiler, consumer unit, socket faceplates, radiators, valves, etc and see whether they look new, knackered, etc. It's obviously not definitive but it will give a feel for things.

incoming rush to get shit sorted ahead of another base rate hike...whats the hive mind view on that

The hike happened today (first Thursday of the month) so you'd expect mortgage rates to adjust accordingly on new applications (I think if you are in the process they hold the rate for you).

My partner and I had an offer rejected on a place this week. If we want to put an offer in on another place can we use the same AIP? The offer on the new place would be approx 50k lower than the offer we made on the first place so in theory the original AIP should be fine to show as evidence of our funds? Apologies if this is a stupid question

Shouldn't be an issue.

Yeah as long as it's in date

Maybe get a new lower one to avoid disclosing max budget?

I just did one online, Santander I think, as evidence I could get a mortgage. Had no intention of actually using that one.

A bit pointless really as they had no idea what the amount coming from the sale of my flat would be so it was really just a random number.

Thanks for the tips all, much appreciated

Not sure how @amey missed this wonderful PR piece – River Pool in Catford described as ‘picturesque’ in the national press!

Does that count as Catford? My kids know that area as 'the boulders'.

I always felt that side of the river was the lawless wilds, and even the ‘Catford’ side was Bellingham. But who am I to argue with the Telegraph’s glowing write-up.

thats foraging

I'm pondering a loft conversion on the basis of if I'm going to get one done at some point then I may as well get it done ASAP so I can use it.

But, I'm not sure if we can afford it. We'd be adding on to the mortgage to do it as we've still a few more years to go on it. LTV is fine (something under 60%) but what's the best way to get an idea of rates and shop around on this? Or am I just limited to my existing mortgage provider?

am I just limited to my existing mortgage provider

If you don't want to refinance the whole thing, then yes, all you can really do is ask for additional borrowing from your current lender. Otherwise you are into the world of second charge, which is significantly more expensive.

If you are ready to refinance the whole thing (i.e. expiring deal), then you probably need to work with a broker to check that your lender is OK to release some of the proceeds as cash to you (not always the case if you were just to do a price comparison).

Generally I think it always makes sense to go through a broker these days to avoid the drawn-out affordability process.

Anyone modifying their house to help with energy bills this winter?

Just wondering if rampent inflation and increasing bills means spending now might be a good investment.

But if so, what on? Solar? Insulation? Can you still clad houses (our North Wall is detached and gets fucking cold)?

I am seriously tempted to Celotex the roof of my crappy falling-down conservatory.

Cheers. Guess I'll start off with a call to my mortgage provider. Although I suppose putting it off until my mortgage is up (and I'm no longer paying nursery fees) may make more sense.

Anyone modifying their house to help with energy bills this winter?

Done it already; insulating under the floor with Rockwool, work in the summer as well.

We have shutter fitted after several months wait, it have proven itself in keeping the house cool as as well as warm creating another layer between windows and shutter.

Alternatively a more cost effective way is changing curtain that trap the heat better.

Servicing your boiler before winter may be worth looking into.