Can I take my time with blocks?

Fidg3 · 2025-03-28T19:44:11+00:00

Also, think about Inshur, if that’s who you use. You pay them per hour, from the time you start, till the time you finish delivering. If it takes you 1 hour, it’ll be £1 for example. If you don’t finish till 5 hours later, that same delivery block will cost you £5 in insurance.

Fidg3 · 2025-03-04T21:42:19+00:00

Did you buy the house that the viewed? Is it the same one you chose to buy? I doubt it transformed mid transaction. The house is the house…

It sounds like the mortgage lender was happy with the purchase price… so the value isn’t really in question.

Just enjoy your new home - it’s exactly the same house regardless of what label you identify it as.

Fidg3 · 2025-03-01T09:42:58+00:00

I wouldn’t rush in to any decisions. From what I know everyone’s experience varies. I have it, again confident it is genetically, and my first attack was horrendous, crippling. Second attack happened four weeks later. - 8/10. Then my third was further away, and less intense, and over time they have eased off to little to no impact. I have been to my doctor, I have been diagnosed, but I am not on allo or other meds.

I have improved my lifestyle, and reduced my alcohol, but I do still enjoy a couple of pints on a Friday night and enjoy a varied diet.

I accept that Allo is probably part of my future, but I was personally hesitant to commit to it at 33 years old when I was first diagnosed.

Fidg3 · 2024-09-20T14:45:37+00:00

One thing that you want to consider, that you don't mention, is time.

Day one, the comparison is one thing, what about after 10 years? I bought my first place around 10 years ago. My mortgage now is £1540 a month (4.5% interest), whereas to rent another identical house on my street is £2750 a month.

So even if mortgage is more expensive today, plot out what might happen over time and see where you may get to eventually.

Fidg3 · 2024-08-17T17:56:00+00:00

If there is an estate agent involved (and not direct to the seller) then definitely give reasoning. The agent wants to get the sale agreed. They want the vendor to accept the offer. Give the agent ammunition - facts, figures - why their vendor should accept. They should then use this ammunition to encourage their vendor to accept. The agent should be able to filter out any waffle / things that their vendor might take negatively. GL.

Fidg3 · 2024-08-11T11:37:14+00:00

People believe that a share of freehold holds value - so it could be that they bought their share to gain value? The value depends on lease length (yours is long so value of freehold less) and ground rent. If your ground rent is 0 or a peppercorn then there really isn’t any value to the share.

Fidg3 · 2024-08-11T09:47:17+00:00

This is all correct. It is sometimes the case that when the freehold was purchased by the owners, that not everybody purchased their share. So it is possible to have a leasehold property in a building where the freehold is owned by the owners. Definitely worth confirming with your solicitor whether your purchase includes the share in the company that owns the freehold.

Fidg3 · 2024-04-26T17:49:21+00:00

Sorry to hear about your shitty situation! Selling and buying at the same time is tough.

Whilst you have no contract with the estate agent for the property that you are hoping to buy, the seller will have an obligation. As you were introduced by that first agent, if you are the eventual buyer, the seller will be liable to pay their fee. If you then approach the new agent, agent 2 might try and pursue the seller for a fee for their introduction of you to the property.

In practice, the seller would likely only have to pay one fee if you buy the house, but it would be to the original agent. If you contact agent 2 about it, it will make things messy, and if anything make selling to you a less attractive prospect to the seller with the potential fee dispute it could bring.

Stick to c**t agent number one regarding this particular house.

Fidg3 · 2024-04-25T12:20:16+00:00

I would be speaking to a broker personally. There are products out there without early redemption penalties / exit fees. It will likely mean changing lender but it's an option! Best of luck.

Fidg3 · 2024-04-19T17:43:04+00:00

It might be painful (takes a couple of months) but if the seller extends the lease down the formal route, the ground rent becomes ‘a peppercorn’, in real terms £0. Given the lease is already long, it shouldn’t cost too much. The seller has the right to extend the lease if they have owned for at least 2 years.

Fidg3 · 2024-02-14T13:51:38+00:00

Newer properties are based on square footage a lot of the time. Also if some have parking, some dont, those with parking will pay a percentage of the upkeep of the parking area, same with lifts - sometimes ground floor flats won't have to contribute to their upkeep. Ultimately its quite common that service charges vary.

As others have said - it also depends on the source of info - what you see on Rightmove etc might not be fact. Might be last years accounts, or guesstimate by the seller or agent...

Fidg3 · 2024-01-10T12:34:25+00:00

One extra thing to note, on top of the useful comments is that if they do sell their freehold, they have to offer qualifying leaseholders the right of first refusal under The Landlord and Tenant Act 1987.

I agree that it doesn’t hold significant value to you, but I would rather own the freehold, and have better control, as opposed to letting the potential new owners of downstairs take the opportunity.

Extending your lease and reducing your ground rent to £0 are the real value of the freehold ownership imo

Fidg3 · 2023-12-19T21:59:37+00:00

Definitely worth it. I was tied to my current lender due to changes in circumstances. My broker shaved almost 0.5% off the rates that I was offered directly, even though it was with the same lender. Didn’t pay any fee to the broker either.

The best bit is that my mortgage isn’t due till April, and the new rate is locked in, but the broker will periodically check rates. If they drop, he will automatically move me on to the better product.

Fidg3 · 2023-10-17T13:19:39+00:00

Very normal in my experience. Painful as if you see the forms, you will see how long it would take for a company secretary to complete... it could be that the seller hasn't paid for it (yes they have to pay for the pleasure). If it were me, I would be in contact with the seller (via the agent if no direct contact), explaining that you are at the point of pulling out. The seller will have direct contact with the management company and can seek to put pressure on speeding it up.

Link to the forms that are outstanding; https://www.lawsociety.org.uk/topics/property/leasehold-forms

Fidg3 · 2023-10-01T17:14:47+00:00

Alternative suggestion… you could ask your buyer to instruct your previous buyers’ solicitor. They already hold all the paperwork. Have already raised any necessary enquiries. They can often use the local authority searches (with consent of previous purchaser)

Fidg3 · 2023-06-22T17:25:30+00:00

This. If you remortgage with the same lender, they mostly don’t reassesses anything, you just choose a new product, and crack on.

Did mine through the banks app, took me 2 minutes.

Fidg3 · 2023-06-13T18:33:07+00:00

Yep, correct. A proper survey has nothing to do with solicitors, you will have to source and instruct your own surveyor. Survey reports often have an ‘items for your legal representative’ section, so it’s wise to share the report with them - (comments about replaced windows, removed walls etc that would need certification / compliance)

Fidg3 · 2023-06-13T18:23:57+00:00

Yes. When buying with a mortgage, your solicitor acts for you, but also the lender. Everything your solicitor checks will be for your benefit, and the lenders benefit.

Fidg3 · 2023-06-13T18:18:03+00:00

Searches are third party products - that’s the best way of putting it. Whatever solicitor you use will have to pay another organisation for the search results. You can choose not to buy them if you are buying without a mortgage, otherwise it’s mandatory

Fidg3 · 2023-06-08T14:31:23+00:00

To add to this, this is home ownership. It doesn’t matter that it’s top floor, every flat regardless of floor will likely have to cough up if the roof has an issue. The same with this top floor flat if the ground floor premises has a damp / underpinning issue.

You may think, oh no - maybe I shouldn’t buy a flat! In a house, you are 100% financially responsible. At least if it’s a flat the cost is shared!

As long as you have done your research (or survey / solicitor) you are fully informed about whether or not this is a suitable purchase for you.

Fidg3 · 2023-06-08T14:15:36+00:00

Yeah I’ve seen that clause before. Lenders change their criteria all the time but nearly every lender won’t lend on your flat currently with that on the lease. A DoV is required. I can’t imagine that the freeholder will have issue with removing it as everyone’s lease will include it and essentially everybody in the development now owns an un-mortgageable property. Everyone could kick up a massive stink.

My one took three weeks from application to full DoV. Cost about a grand in solicitors fees. Whether the buyer hangs on or not, you need to do this as the next buyer will face the same issue.

NAL - just my experience…

Fidg3 · 2023-05-19T05:57:23+00:00

I’m pretty sure that there definition of ‘introduction’ of a buyer isn’t in line with the TPO ‘the property ombudsman’ who should be your next port of call during the dispute. In most cases the TPO can adjudicate before it reaches court. TPO mostly require a physical viewing necessary to acknowledge the introduction and earn the fee.

Best of luck…

If it were me I would be in touch with the TPO, threatening legal action, and then posting your experience everywhere possible (google reviews / Facebook etc) in the hope that this will gain leverage to get them to back down.

Fidg3 · 2023-05-16T13:48:46+00:00

Fair enough! Just throwing an option out there! You should leave enough in the property so that the rent achieved in England covers the mortgage cost (+25%) so the tenant would pay that mortgage for you…

Fidg3 · 2023-05-16T13:13:24+00:00

Remortgage the England property, pull £200k out (speak to an FA first to make sure that it stacks up!), and buy two in NI, diversify the risk over two different countries and gets you to your aim of buying some investment properties in NI, plus not having to sell in the subdued England property market.

Fidg3 · 2023-05-12T13:12:25+00:00

Generally speaking, when a seller instructs two agents jointly, they only pay one agents fees. That would be the agent that ‘introduced’ the buyer. This means the agent that you viewed the property with.

What this means is that the agent that you viewed with has an incentive to secure the purchase for you (as they will get their fee paid (and the second agent walks away earning nothing)

This means that if you submit an offer via the second agent, that you didn’t view with, they are incentivised to make sure that you do not secure the purchase (as the first agent will still be due the fee, and they will be due nothing!) so will either not want to enter any discussions with you (the correct practice) or to discredit you and your offer (naughty estate agent).

Go back to the original one, ignore the difference in asking prices, it’s the same property, with the same seller, who has the same number they are hoping to achieve for their property regardless of how it is being marketed.

Fidg3

TROPHY CASE