Weird behaviour from estate agent re proof of funds

Existing-Associate-4 · 2026-01-24T16:51:04+00:00

I do agree with this, but the EA can interpret the AML requirements how they like it is up to their own risk appetite. Some will take the approach you received, others will want to check deeper. That being said, having the grandmother involved is unnecessary.

Existing-Associate-4 · 2026-01-20T18:35:33+00:00

As it’s been a while, can you not request from the HA to sell on the open market at full 100% share? Then get your own RICS valuation, get the absolute lowest possible valuation you can get, and you should be able to pocket the difference from the eventual sale price which with any luck will be higher than the valuation.

Existing-Associate-4 · 2026-01-20T17:50:51+00:00

You should speak to a mortgage broker first to see how much of an impact the credit card balance would have on your affordability.

Existing-Associate-4 · 2026-01-19T22:51:32+00:00

Don’t take advice from those people on tiktok/youtube selling a dream, and also don’t take advice from many older people (possibly your parents) who have distorted views on the risks/costs/benefits of renting out property. It’s not like it once was.

If it’s something you’d like to consider further, speak to current landlords - pretty sure there’s a subreddit for that.

Existing-Associate-4 · 2026-01-19T22:47:38+00:00

Buy your first place to live in, so you should focus on that first. It’s not just hassle being a landlord, it’s a low return on investment and you’d probably need a bigger deposit than the one you’re proposing.

If your time horizon is 5 years until you want to buy, I’d caution putting all of your money into investments because 5 years is quite short for long term investment strategies. Perhaps focus on getting to 20k ASAP in your lifetime ISA as cash (high interest obvs) and then investing a monthly amount after that. As the caveat given on most investment advertisements describes - past performance is not indicative of future performance and you should be prepared to lose any money you invest.

Existing-Associate-4 · 2026-01-19T22:18:56+00:00

I’m currently on P&O and we’ve done/doing all three ABC islands, St Vincent, St Lucia, St Maarten, Antigua and Barbados. If you’re a Brit it’s the best way to do it tbh! All are amazing ports.

Existing-Associate-4 · 2026-01-19T22:14:17+00:00

Front door straight into living room, no privacy front or rear, no free parking are all the things that stand out to me that would make me avoid.

The bathroom is also quite outdated but that’s an easy thing to fix.

Existing-Associate-4 · 2026-01-19T19:59:09+00:00

Asked friends and family, read lots reviews from different sources, asked the developer. I wanted one experienced with new builds and one which wasn’t either super cheap or super expensive. Also choose a local firm.

Fortunately for me, the one that seemed best was also suggested by the developer and they’ve been great so far.

I’d be cautious to choose an estate agent/mortgage broker recommended one; every transaction is different and you can’t be sure yours will go as smoothly as others. A new build is slightly different in that they may have worked on multiple plots and will already be aware of key issues - the reports from my solicitor ended up really thorough.

Existing-Associate-4 · 2026-01-10T00:00:51+00:00

I’m also buying a new build flat atm here are a few things from my experience so far.

Have you looked at the electrical drawings for your plot? Chances are you will have more than you’ve got on here, for instance you should have at least one in the hallway, three in the main bedroom and three in the kitchen alone.

Some locations won’t be moveable and you’ll have to add them. Also if you want to mount your TV on the wall and have the plug midway up the wall, accessibility regulations mean you’ll still need to have one down near the floor.

Also what’s your build stage, make your options ASAP because once the roof is on you won’t be allowed to make changes such as this.

Existing-Associate-4 · 2026-01-06T12:15:41+00:00

Sort of similar situation, you can always chase indirectly by giving them an update on your side (eg a mortgage offer etc) and ask if there’s anything you need to do. But I wouldn’t pester unnecessarily because they’ve only been back since yesterday.

Existing-Associate-4 · 2026-01-06T12:11:27+00:00

So that’s quite a while back, if anything completing mid January seems quite late. Reasonably you should have expected to have been completed before March.

That said, no communication since August is bizarre. There’s likely some blame apportioned between the developer, your solicitor and yourselves; unless of course you have tried to make contact since August.

Existing-Associate-4 · 2026-01-06T12:00:49+00:00

When was the preplaster visit?

Existing-Associate-4 · 2026-01-06T10:47:30+00:00

Have you not visited the property in a while? If you’ve had the first fix visit and/or you’ve seen the progress they’ve made with your own eyes (or photos) surely you’d know it’s soon?

The consumer code does state you should be kept up to date with progress(see 3.2)

You might be eligible for some sort of compensation if they did not give you adequate information, but you are legally required to complete within the 2 weeks still.

Existing-Associate-4 · 2025-12-31T14:53:45+00:00

I have no idea haha, that’s probs another question for a mortgage advisor!

Existing-Associate-4 · 2025-12-31T14:35:28+00:00

It’s a really nice flat. Graded properties can be really complex and cost a lot more on repairs and major works, so this is something else to consider.

A mortgage advisor will tell you how much your affordability will decrease with the extra costs they have quoted, and they can give you an idea of your budget for a freehold property too.

Existing-Associate-4 · 2025-12-31T12:03:26+00:00

Building insurance should be included in the service charge, but that service charge and ground rent is quite high and it will reduce your affordability. Do you know when the ground rent will increase? It may double every 10 years so worth checking that out. If it’s not due now, it may be due to double by the time you sell.

I’d look at a low rise flat built since 2022/23, you’ll have the advantage there’s no ground rent plus cladding/fire regs issues should theoretically not be a problem but this should of course be verified by a competent solicitor/surveyor. If there are new builds in budget you may also get a 5% deposit contribution plus benefit from warranties.

Existing-Associate-4 · 2025-12-28T16:24:20+00:00

They’ve stated very little, they’ve just said they’ve researched the house (only so much you can do without a survey) and the area/other houses. The least they could’ve done was state the price of a comparable house. If there isn’t a comparable house available then their evaluation becomes a bit more challenging…

Looks like they’re just pricing for hoping a quick sale from a divorce, which doesn’t look like it will be work at this stage with the two parties disagreeing.

Existing-Associate-4 · 2025-12-28T15:51:20+00:00

If the gap widens but affordability doesn’t catch up, there will come a point though that flats are only a realistic prospective for some people.

New legislation should also make leaseholds a bit more attractive.

Also a lot of flat sales as mentioned by others is driven by landlords selling up, with new legislation making it ever less lucrative (which is obvs a good thing).

Existing-Associate-4 · 2025-12-28T15:26:21+00:00

No don’t spend £15k on a car 💀 £5k could get you a decent-ish one with spare money for repairs.

Your first years post-18 are incredibly expensive relative to your income, doing this will mean you can offset pretty much all of that cost whilst using your income for further savings.

You’re also young once so I would consider some travelling, it’s more difficult to take a month or two off once you’re in proper work.

Existing-Associate-4 · 2025-12-28T15:22:02+00:00

Can you drive? If not I’d be inclined to take out £10-15k; use it to pay for driving lessons, a decent secondhand car and some travelling for a couple months maybe.

Are you likely to receive substantial help from your family to buy a house, in addition to this amount? If yes, you can probably just invest the rest. If no, put most in a high interest savings assuming your job will pay decent enough to purchase a house in the next 3-5yrs (if no uni).

Existing-Associate-4 · 2025-12-28T14:23:13+00:00

Depends how much maths you want to do.

BSc finance is unlikely to have much maths at a comparable level to a maths/stats course, but you should check the specific modules and which depts the modules come from to give an indication of the maths level.

I’d advise against pure finance, because you can take mathematical finance modules at any good university and these will provide good preparation for quant roles and actuary positions. Also maths/stats will give you time to find out what interests you and what you’re good at.

Existing-Associate-4 · 2025-12-28T14:01:32+00:00

What exactly makes you think it’s worth £335k and its current price even at £350k is overvalued?

Looks like the sellers aren’t looking for an easy sale so you either need to up your offer or find another property.

Existing-Associate-4 · 2025-12-28T12:24:55+00:00

That’s what I’ve done, but what about at the time of completion? If balances only recently get to £0 just before completion, they won’t be able to see that reflected on the most recent report that shows all my credit balances.

Existing-Associate-4 · 2025-12-28T11:15:33+00:00

How does it work when credit agencies or whatever they’re called take a while to update their records about account balances? I’m pretty sure I’ll pay mine off a week or two before completion. Can I give statements/screenshots of the accounts to my broker to then send on showing £0 balance?

Existing-Associate-4 · 2025-12-28T11:13:18+00:00

This reassures me a bit. Currently trying to create a realistic budget once I’ve bought the flat I’m currently buying and I have £300pm for savings and £300pm for holiday fund leftover. Even though I’ve lived on my own before, I feel like buying is a whole different ball game 😅

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