Owning your own home

That’s what I thought, we are paying them enough for the privilege. Apparently not Nationwide!

Odd, I have taken out additional borrowing with Nationwide several times and didn't have to pay any fees.

I’ve had to name an external solicitor (who cost money).

As far as I remember, I just had to answer a load of questions over the phone, which took a while, and confirm that I had declined to have independent advice and that Nationwide were not providing advice on the product I was taking out.

Loft Extensions. We're looking to extend our two bedrooms in the roof over the back of our kitchen, take a chunk from each bedroom and add a bathroom in the middle of the two.

Who do I need to "engage" first to get the ball rolling. It is an architect / building firm that do this stuff, or should I try and draw up some plans myself and submit for the pre-approval process?

I've never done anything like this - it wouldn't be until start of next year that work (if approved was to start) but I'd like to start talking to people to understand the full scope of it and whether its even feasible.

I'm an Architectural Technologist and have designed a fair few loft conversions so would be happy to give you some advice on a design. Drop me a PM :)

Awesome! Thanks so much. PM-ing

It’s probably worth getting down to below 40pc loan to value because the mortgage rates tend to be lower.

There can be situations where the deposit rate is higher than the mortgage rate. Eg currently Hsbc is 1.79pc mortgage, atom is 2.3pc 2 year fixed deposit. So pretty much risk free gains to be had. Borrowing money to speculate on the stock market is effectively what most people do with pension contributions but it depends how stressful it would be and whether you can hold your nerve when the next market crash happens.

Great thread for this sort of thing here.

Anyone installed underfloor insulation? Wondering about the merits of various materials.

Except pension contributions are up to 45% tax advantaged... for regular investments outside an ISA or pension wrapper funded by mortgage borrowing you have an immediate disadvantage because your mortgage interest isn’t tax deductible but your gains are taxed.

I started there but figured it was as much home owning as not (or if any mortgage specific stuff I wasn't thinking about). But yes, it's now more about how to become Lord of Charlton. Hmm, appealing :/

I'm defo going to get you to do mine... if you're up for it.

To what end? underfloor heating I get but are you trying to keep heat out?

Looking to sell soon, moving up north via renting for a few months. Will end up with practically no mortgage or a palace, undecided yet.

I hate moving

I installed underfloor batts on my place. Used R2.5 value Bradford stuff to do it, which is basically just glass wool, and not sure if that specific brand are available in the UK. Excellent value for money, especially if you do it yourself. Worst day of my life though.

Insulation under the floor can help with drafts caused by cold air underneath. E.g. we have a cellar underneath two rooms in our flat with a suspended floor, putting insulation between the joists underneath would definitely improve our energy efficiency but it's a pig of a job so I can't be bothered.

As heat rises insulation in the ceilings is of course more effective - we've done ours and the difference was quite dramatic.

Yeah no point doing a big job when you are moving next door to me by the end of the year.

Oh yeah 100%!

The no mortgage/palace thing suggests actual North. Where you off to?

Not at this rate, won't be going anywhere if I don't get a job soon!

Had an interview with your local council the other week, really interesting job, did a strong interview/test, but got pipped at the post by someone with super relevant sectoral experience I couldn't match. Could've lived the live in the borough work in the borough dream :)

Beaut gaff gone up in my neck of the woods on themodernhouse.com eek

themodernhouse.com

isnt buying a house on that is like paying full price for am OTP bike?

Hows your extension going? I'm having a melt down with mine trying to decide on doors...

so far so good, I am sure something will go wrong, I am not at a point to choose doors. Tbh I am not fussy or care that much about aesthetic I'll go with relatively cheap good functioning option. Maybe even Ikea kitchen ; ) no black taps