Owning your own home

Blimey, she's enthusiastic.

I wonder why?

The back garden:

Basement doors

View from the street:

Blimey, she's enthusiastic.

I think because she's moving in with another old guy she wanted to check with him.

So we've had our offer confirmed and going ahead. Next step is solicitors and trying to get my head around bloody mortgages. I understand the basics but I keep hearing things about certains parts to check out.

Just keep asking here for honest, unbiased, accurate and informed advice a laugh.

Just keep asking here for honest, unbiased, accurate and informed advice a laugh.

Ha ha, it's like a flipping mine field. I like the idea of being on fixed rate as I know what I'll be paying but I can't see interest rates going up for the next 2-3 years.

^ Any news yet?

property prices in kensington rose 9.1% last year ( i am having trouble working whether this is for the period June - end of September the last year or this month ? )
Source : Bloomberg.

london 4.8% up in the same period ( whatever that was )

buy quickly sparky

Ha ha, it's like a flipping mine field. I like the idea of being on fixed rate as I know what I'll be paying but I can't see interest rates going up for the next 2-3 years.

Some food for thought here http://www.thisismoney.co.uk/money/mortgageshome/article-1687576/What-mortgage-rates.html

property prices in kensington rose 9.1% last year ( i am having trouble working whether this is for the period June - end of September the last year or this month ? )
Source : Bloomberg.

london 4.8% up in the same period ( whatever that was )

buy quickly sparky

You really think that'll continue? I'm in a quandary at the moment. My deposit's bigger now and I'm looking at places up to ~£150k, but they're all shit.

What will 150k get you in London then? Also what parts of London are you looking at? Thought of auctions or property that requires a bit of work? Or is anything that's half decent snapped up early?

What will 150k get you in London then? Also what parts of London are you looking at? Thought of auctions or property that requires a bit of work? Or is anything that's half decent snapped up early?

Not a lot. Anywhere within 10-15 miles of Victoria. Not afraid of doing some work. Yes.

:(

You really think that'll continue? I'm in a quandary at the moment. My deposit's bigger now and I'm looking at places up to ~£150k, but they're all shit.

the article mentioned a post olympic blip
maybe people were to busy watching the gold rush on tele to be arsed moving
now it's all over people are moving en masse

i am now sure that is the last month there was an article in telegraph / guardian that showed these were monthly moves
http://www.telegraph.co.uk/finance/economics/houseprices/9608584/House-prices-rise-to-eight-month-high.html

if that is the case it is of course completely unsustainable
it'll be back to flat soon

What will 150k get you in London then? Also what parts of London are you looking at? Thought of auctions or property that requires a bit of work? Or is anything that's half decent snapped up early?

people always think you can get stuff cheap in the auctions ... i don't think it is the case
you might get the odd property on the cheap but heck if they were 20-25% below market on the prices everybody and their grandmother would be at the auctions flipping houses like mad
guide prices are there to draw the new comer in

most auction prices are close to market

Sparky: that second one, the shop, those big windows will make it cold, and people will try to look in all the time.

Have a look at prices round Mitcham, it's seems to be starting to go up again, and the town centre is about to be renewed. Good for Victoria now, and not too bad fro riding from.

Just done a quick search, and I'm wondering whats wrong with this place... http://www.rightmove.co.uk/property-for-sale/property-37996862.html Seems too cheap, but also looks like it might be an estate sale, or a repo flat.

that shed looks a bit suspect...

Any thoughts?

1st is a bit close to the flyover but I've not really gone through there

the location of the 2nd one, is pretty damned piss poor, avoid (I see tallchris has let you know this)

Might I suggest trying the other side of east croydon station, sandilands, lebanon road and down towards Addiscombe, blackhorse etc

don't do towards Addington village....

that shed looks a bit suspect...

http://m.youtube.com/#/watch?v=E-iENCZKFzk&desktop_uri=%2Fwatch%3Fv%3DE-iENCZKFzk&gl=GB

http://m.youtube.com/#/watch?v=ZFjfa_RB6Pc&desktop_uri=%2Fwatch%3Fv%3DZFjfa_RB6Pc&gl=GB

So have decided on a nationwide fixed rate 5 year mortgage. With a mortgage term of 20 years. This pushes our repayments almost £200 a month above the 35 year mortgage but the saving in interest and the captital cleared in the first 5 years out weighs that £200.

Plus hopefully wages will go up and free up a little more money for us both.

We're in the lucky situation with this place that neither of us have commuting costs. The house needs work but we are happy to live save to have the central heating done then start work on the house.

Good work Spence, hope it all comes off.

+1 Good luck mate.

Don't forget to check that back garden for any "recent work" ;-)

great news spenceey, good luck