Owning your own home

there is way too much dangerous shit around (disc brake rotors, enormous adjustable wrenches,

Don't worry too much, children can be taught not to touch the dangerous stuff.

That said, it might be worth fitting a safety catch to the

sawn off shotguns

In something like 2000 transactions I'm yet to see one fail to complete after exchange. A few have been delayed beyond the agreed date - maybe 20 - but they've always happened.

Whereas I only see the ones that go badly wrong. In the last 4 years I'd say I've been involved in a dozen cases where contracts were exchanged but the sale didn't complete. Mind you, in all of those with one notable (and rather bizarre) exception, it was the buyer who defaulted rather than the seller. And of the remainder, the majority were not your average residential house sale.

I'd say you're 99.999% assured of getting the place. Maybe 99.9999%. Eventually.

That's really great news, ta. Wasn't sure exactly what exchanged meant, legally, and didn't get solicitor's email until after close of office hours.

Would be more excited had the move-in date not just been cocked-up massively, but trying to stay zen - didn't lose any money when changing van booking date etc.

Shit. I've actually gone and done it.

Thank fuck!

What are the thoughts on shared ownership? I have no idea about this i.e. I haven't read a lot into it yet. Is anyone here who is living in shared owned place? What are the cons? Me and missus are saving up to buy a place eventually but we are nowhere near. Shared ownership on paper looks pretty good. e.g this place

What are the thoughts on shared ownership? I have no idea about this i.e. I haven't read a lot into it yet. Is anyone here who is living in shared owned place? What are the cons? Me and missus are saving up to buy a place eventually but we are nowhere near. Shared ownership on paper looks pretty good. e.g this place

The principal, as you may have heard on the news, is absurd. It raises house prices and benefits only existing home owners and builders.

The idea is that if builders and home owners are happy the economy will grow more quickly. It does work, but it's temporary and artificial and no good will come of it medium term.

But if I was a first time buyer who couldn't afford a house I wouldn't be convinced that by boycotting it I could singlehandedly derail the policy, so I'd probably sign up.

^ I think you're referring to the govt help to buy scheme, not shared ownership.

Same shit.

Nope.

Help to Buy has four schemes, but it was the two new ones that most people refer to as help2buy:
One is where they will help you by adding to your 5% deposit, bumping it to 20% so you can get good rates. I can't remember the other one.

Anyway.. more here:
https://www.gov.uk/affordable-home-ownership-schemes/overview

I kind of like Exception Sites, where houses can be built specifically for local people and can't be staircased, but really they should just build more houses and none of it would be necessary.

Or get rid of some people

Yes. That would also work, but building houses would be kinder.

Yes. That would also work, but building houses would be kinder.

Not on the planet.

Oh fuck you Cameron, now after living like a middle class pauper for 2 years to save for a deposit I'm going to have to compete with a bunch of people who can only scrimp together 5%.

Yes doesn't the 5% help scheme come in to play this week now? As opposed to the new year?

Same shit.

Not the same shit at all.

Oh fuck you Cameron, now after living like a middle class pauper for 2 years to save for a deposit I'm going to have to compete with a bunch of people who can only scrimp together 5%.

Or a bunch of people that have more but would rather let the government pay the extra so they can use their cash for something else.

But, it's still only first time buyers isn't it?

Or if you are buying a new build I thought?

Which suggests to me that the big new home building companies have pushed quite hard for this as a subsidy (of a kind) to get their revenues up.

Oh fuck you Cameron, now after living like a middle class pauper for 2 years to save for a deposit I'm going to have to compete with a bunch of people who can only scrimp together 5%.

Oh dear.
That must be awful for you.

It was for new build only for the first 12 months. Next year it will be for anything up to £600k.

What's "The property is let on a Statutory Periodic Tenancy" mean?

You are talking about Help To Buy Mortgage guarantee which is valid on any house/flat from Jan 2014. I can understand your frustration, there are at least a couple of people at work who are in panic and trying to buy before Jan.

But I am forrin and I dont qualify for that* (I think), the only scheme I think I might qualify for is Shared Ownership which I think is only valid for new homes. And it's a scheme offered by housing associations for which they get some sort of subsidy from the government.

• one of those UK government schemes which are only for British citizens
  

There are resale shared ownership homes as well.

http://www.sharetobuy.com/london

What's "The property is let on a Statutory Periodic Tenancy" mean?

When you rent a place it is usually fixed term contract.
If you don't resign or come up with a new set of terms you go onto SPT.

This is sometimes called a rolling contract and is the basic set of statutory rights afforded to both landlord and tenant.

There are resale shared ownership homes as well.

http://www.sharetobuy.com/london

Although they are actually moving this forward to this week now aren't they?

So, on a listing it means a place has a current tenant in it?

#out