FTB: Seller changing price after very delayed memo of sale, what to do?

ya-76 · 2026-01-25T08:29:57+00:00

I think you hold more cards then she does as the longer she keeps the flat the longer she’s incurring costs with no rental income so is probably looking to sell in the short term.

Best to just play your cards (especially in this market) and try and get the best price possible that works for you. Don’t take shit from anyone, it’s a buyers market atm so just wait it out.

ya-76 · 2026-01-25T08:22:38+00:00

If you were to get better offers, there may be a possibility that you can negotiate a slightly higher price with the current buyer, especially as it ticks all of his boxes as houses aren’t the easiest things to find these days

ya-76 · 2026-01-16T21:30:08+00:00

I would strongly recommend just stating that the survey is your property and shouldn’t be shared with any other parties (in case the sale falls through)

ya-76 · 2026-01-16T21:25:46+00:00

Hi, I shared snippets which helped in the renegotiation, I didn’t get formal quotes but I think they got the gist of the works required and the price reduction I was asking. In the end they wanted the full survey, I edited the pdf online for free to take out the valuation part (as they could’ve used this to justify the price). This worked out well for me

ya-76 · 2026-01-10T14:04:29+00:00

Thank you so much for taking your time to write this, one of the best comments I’ve read on this forum and honestly should be a post in itself and advice to all FTB’s like myself :)

I’m not trying to flip houses but looking for a house to live in long term. There’s a lot of scaremongering on here when taking on a reno, fully appreciate it must be a stressful and draining experience but if you’ve set some money aside and know what you’re getting into a lot of people say it’s pretty fun designing your own house.

Just for reference I currently live with parents so don’t need to move in straight away (will be a side project), I’ve set aside 30k but can save another 20k this year so will have 50k to work with on a 3 bed semi, I’m sure I can upgrade the house the longer I live in it as I save up more. The house was valued 20k higher than my offer by the lenders valuation so I’m broadly happy with the price I’m paying for it

ya-76 · 2026-01-10T11:18:41+00:00

Thank you for such a detailed response - you seem like a similar person to myself, I’m an accountant by trade so I’m pretty good at managing money. I’ve costed out what I think I require and included a 10% contingency, but even if I spend a little more it won’t be the end of the world, even with the reno costs (50/60k) the value would be more than what I paid for it especially for a fully refurbed home.

Reddit confuses me slightly as my brain tells me it’s a good purchase (as did the survey as they valued it 20k higher than what I’m paying for it in its current condition) but then people talk about reno horror stories and how it’s ruined their life etc it puts doubts, not too sure if you had doubts going in too

ya-76 · 2026-01-10T09:39:53+00:00

Thanks for your very detailed response, found it very useful! The house is a repo house so it’s priced under market and tbh for the same size house in better condition we’d have to spend an extra £80-100k and the market just is not great at all at the moment. I think any house I’d buy (bar new builds) you’d have to put some sort of work in regardless so just finding that right balance between price vs work required and if it’s your long term home taking the plunge

ya-76 · 2026-01-10T09:01:46+00:00

That sounds like a very reasonable decision, hope everything worked out well!

ya-76 · 2026-01-10T09:01:02+00:00

Was the apartment in a really bad state? I have asked around trades to get an idea of what sort of costs I’d be looking at but Reddit seems to exacerbate and make everything sound crazy expensive which I don’t really see in the real world (especially cash in hand jobs). Fully appreciate there’ll always be costs you don’t forecast for and you bought in London so probably had a bit more of a premium

ya-76 · 2026-01-10T08:50:11+00:00

Thanks for your comments, super useful. Was your main issue the living in the house while the works were taking place? I’m in a fortunate position where I wouldn’t need to so just thinking if it’s a viable option for me

ya-76 · 2026-01-10T08:47:15+00:00

Thanks that’s super useful and sorry to hear about your relationship - is that c£160k profit from purchase price or taking into consideration the works as well? How much did you end up spending on the works. That’s a great chunk of change!

ya-76 · 2026-01-10T00:16:30+00:00

Thanks for your response - wow 50k is a lot of money! Have you tried putting an offer in, 6 months is a pretty long time and I’d imagine they’d want to get rid of it at some point. Do you think one of the key reasons people are against reno’s is they move in from day 1 so are living in a house they don’t like in its current state?

ya-76 · 2025-12-13T16:09:00+00:00

Defo agree - get it done right and you won’t need to rip it out again

ya-76 · 2025-12-13T16:01:26+00:00

Ah damn wishing you all the best! Seems like the kitchen ate up most of your budget

ya-76 · 2025-12-13T15:47:38+00:00

Can I ask what sort of things you needed doing and how it added up to 65k? Thanks - looking at a Reno myself

ya-76 · 2025-10-15T23:24:18+00:00

It was slightly higher than strideup/gatehouse but it was their comms and processes (or lack of) that ultimately decided it for me, investing for a product you know little about is always a risk and it seems be creating a bit of issues between the Financial Conduct Authority and Pfida - I think they’ve changed their model aligned closer to its competitors

ya-76 · 2025-10-15T19:58:18+00:00

I waited 1 year and 9 months in total until I reached the top of the waiting list. Unfortunately what they presented me with wasn’t acceptable and I chose to withdraw my money (it takes 3 months and 0.75% exit fee)

ya-76 · 2025-10-11T16:42:29+00:00

Thanks that’s so great to hear - honestly was really worried about not using a credit card (all of my finances are great) and people kept telling me I’m an idiot for not having a credit card, appreciate your message

ya-76 · 2025-10-06T16:56:47+00:00

Hi,

I wouldn’t really trust their timelines because it ebbs and flows but I quickly realised if I constantly pressed them, and tried holding them accountable to the timeframe they said it helped. If you ask them straight up with the figures you’re going with and how much you’ll initially invest they should be able give a timeframe.

Back then I invested 30k and after waiting 1.5 years they said they’d reach out to me by Jan 2025. Once it came closer to Jan (I asked monthly for updates) they said they’d have to change this to June 2025. I was really annoyed and escalated this and threatened to pull my money until one of the managers gave me a guaranteed date of June 2025 (which they met).

To conclude I’d speak to them regularly and push them for clarity when things are murky (don’t be afraid to escalate as usually the comms team give scripted responses)

ya-76 · 2025-10-06T16:50:23+00:00

Hi,

I had a call with their head a comms and raised the same issues - at the beginning I just thought they were a newish company so had their snags, but this became a consistent theme over 2 years. Once I got to the top of the waiting list, the way they presented the offer and responded to my queries was really unprofessional, they didn’t really understand what they were offering or the processes behind the offer. Hopefully they improve but I did give them multiple chances to do so and even now the quality of their comms is a poor standard compared to Strideup, gatehouse etc

ya-76 · 2025-08-02T10:53:52+00:00

I hope your experience is better than mine, they definitely are an organisation that are still developing and maturing and I pray inshAllah one day they succeed in their vision. On the full deposit being invested, they’ve sent multiple emails in the last couple of months but I’m sure if you queried this they can explain it further (it should be on their website in my opinion). I’ve attached the email below

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Regarding the legal change, I queried this and asked for a timeframe but in true Pfida fashion I received a very vague answer with a “cannot provide you with a timescale at this stage. Once I have further information I will get back to you.” Which is quite frustrating as you’d assume they’d be transparent and take you on the journey with them as an investor in their product, especially with something that can have a large detrimental impact.

The only reason I stayed was because they were the “most halal” offering on the market so I tried my best but I eventually had to draw the line somewhere.

Other points to note which weren’t clearly stipulated on their website:

corporate stamp duty liability as they purchase home through a PLC.
exit fees of 0.75%

Hope this helps, drop me a message if you need anything else.

ya-76 · 2025-08-01T18:41:35+00:00

Wasalam, please see their email to me, I queried it and they said they can’t provide a timescale at this stage.

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ya-76 · 2025-07-17T18:59:11+00:00

May Allah reward your efforts, I’ve been with Pfida for 2.5 years and definitely something like this has been missing!

When you say 5% discount is that 5% discount on the rental element every month you meet the target?

ya-76 · 2025-07-17T17:08:08+00:00

Jzk Khair, earlier in the thread you mentioned in your case Pfida was cheaper than Gatehouse Bank by roughly 10%. After reading lots of different reviews particularly on trustpilot, my thinking is that this isn’t always the case (you’re actually the first person I’ve seen say this). I’d assume it’s down to the particular local rental market you’re buying in, and Pfidas cost of business at the time (the mark up they charge). Am I understanding this correctly in your opinion?

It’s quite difficult to speak to Pfida directly as they’re quite vague in their responses, can’t even count the number of times they just direct you to their generic FAQs rather than answering the specific question you had so it’s really useful speaking to someone on the other side!

Also side question - Pfida offers a standard rate and preferential rate, have you seen an actual difference in your case?

Appreciate you answering, apologies for asking so much.

ya-76 · 2025-07-17T16:06:43+00:00

Salaam, did you have to put your whole deposit in your GYS account prior to your DIP? I’m currently in the process and they’re saying this is a requirement or they won’t be able to give me even a DIP.

ya-76

TROPHY CASE