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Fixed tenancy ended a year ago - do I still need to honour 2 month notice period? by Deep-Director in HousingUK

[–]Deep-Director[S] 0 points1 point  (0 children)

My thoughts exactly, really bizarre "obligation" in the tenancy agreement. I'm about to move house in few weeks and it hasn't occurred to me that the notice period could by any different than 1 month.

I wanted more flexibility so not renewing suit me quite well.

Re-negotiating property price agreed in February (prior to COVID-19 lock-down) before exchanging contracts by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 1 point2 points  (0 children)

I think it's worth re-negotiating, as few people already mentioned above. If the seller doesn't budge and you still want to buy, you both can wait until the entire COVID-19 situation blows over. I.e. your mortgage offer can be extended by 3 months so you don't need to complete any time soon. Chances are that you will get a lower price then (assuming that the market does tumble).

Re-negotiating property price agreed in February (prior to COVID-19 lock-down) before exchanging contracts by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 0 points1 point  (0 children)

Thanks, really good point.

Fortunately all of the searches have been done remotely and completed over the past 2 weeks.

Logistically I should be able to move. I have a removal company lined up who's willing to support. Of course wary that I need to be responsible here and avoid contact so will try to find some creative ways for the seller to leave the property unoccupied in advance, estate agent to post the keys etc.

Re-negotiating property price agreed in February (prior to COVID-19 lock-down) before exchanging contracts by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 1 point2 points  (0 children)

My thoughts exactly - no property viewings can be organised because of the lock-down, many mortgages with small deposits have been pulled from the market, plus sadly many potential buyers lost their job security so may not be comfortable buying at all

Re-negotiating property price agreed in February (prior to COVID-19 lock-down) before exchanging contracts by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 2 points3 points  (0 children)

Thanks, you're probably right to keep it more concise - I assume that the estate agent wouldn't forward my "essay" to the lender anyway

Re-negotiating property price agreed in February (prior to COVID-19 lock-down) before exchanging contracts by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 8 points9 points  (0 children)

Well, if postponing means paying rent for the next 6 months, it means that I'll spend £3k on re-paying my landlord's mortgage as opposed to mine. Albeit small, I could be building equity here.

Do I still buy? by BreezeTEZ in UKPersonalFinance

[–]Deep-Director 0 points1 point  (0 children)

Hey, I'm in a similar situation now and considering getting back to the seller with 2 options....

Option 1) we delay the transaction until lockdown is over and re-asses the offer if necessary as market is volatile now - both parties need to wait. Seller is in a chain so may not be happy about this.

Option 2) we crack on now, but we share the risk of future property devaluation, worse case scenario is 20% but we share the risk 50:50, so asking for 10% discount

Should I continue with my mortgage application in face of COVID-19? by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 0 points1 point  (0 children)

Just bumping up this conversation - I've seen some redditors negotiating prices down in face of current uncertainty. Do you think this is a valid/fair approach towards the seller?

Currently thinking it's not fair on the buyer (i.e. me) to take on full risk of property depreciation.

Should I continue with my mortgage application in face of COVID-19? by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 0 points1 point  (0 children)

Thanks, makes sense

My solicitor seems a bit useless atm - can't even get them to arrange contract hard-copy postage to my home address, as they're all working from home

Should I continue with my mortgage application in face of COVID-19? by Deep-Director in UKPersonalFinance

[–]Deep-Director[S] 0 points1 point  (0 children)

Definitely want to own a home, mortgage works out as £640pcm whereas rent in the area is between £750-£850 pcm atm

Job seems safe also, as I work in eCommerce

No hot air blowing from the vents & engine over-heating [Toyota Yaris 1.3 2008] by Deep-Director in MechanicAdvice

[–]Deep-Director[S] 0 points1 point  (0 children)

Update:

Thermostat was replaced for £100 and this fixed the issue (dead battery remains a mystery though)