House Prices #4 Property market, buying and selling

[101d]

£375k. Been on market since early June. Closest comparable property is £350k but has less land, no garage.

Hmmm, if it was me, I probably wouldn't offer less then 5% below asking. But you could defo try your luck! I have very minimal experience with house buying

 

[AladdinSane]

We finally exchanged last week! I'm so so stressed still though, now about my removals I've got a removal company booked but they never asked for the number of boxes I was taking. Just the large items such as bed, washing machine, sofas etc.
I'm concerned I won't have enough room in the van for all our boxed up stuff

Anyone who has moved, is this how they usually do it? They know its a 2 storey 3 bedroom house being moved to another 3 bedroom house.
I have a contingency if needed but just want to see what people's opinions are.
Thanks!

 

[Yel]

Article on the mail about house prices; basically one guy says falls of 35% and the other no falls.

When you think they rose 20% with the covid money printing and stamp duty holiday then a similar fall to take them back to pre covid levels doesn't seem monumental.

Most of the comments are about supply & demand, immigrants etc and they won't fall. I think that misses that even if people want to buy, getting the financing has become so much harder now rates are approaching 6%.

 

[Megansnarkle]

Yeah same. No solicitors are involved in a remortgage.

Then who dealt with transferring the monies, redeeming the charge in favour of your original lender and adding a new charge in favour of your new lender?

If you change provider then solicitors are usually involved.

 

[whoonearthisalice]

Ach I’m sorry. I can imagine how disappointed you must be. Could it be worth querying the HR value?

 

[Nolongerjustalurker]

What % chunk if you don't mind saying. good luck

5% on our asking price and 9% on our vendors original asking price (they had just dropped it when we went to view it, so on the new lower price it’s 3%).

 

[Meg78]

Random question, but from way back when I remember being advised that loans are looked upon more favourably than credit cards by brokers and lenders. Does this still hold true?

We have a dilemma: mortgage renewal is in 9 months time, we will start shopping around in 6 months. Husband currently has a couple of credit cards that are 3-4 years old, never missed a payment but at this point the compound interest is making it drag out, and I want to consolidate them into one loan at a lower apr to pay them off quicker. It would mean the loan is much newer, but also a lower amount and apr each month, unsecured so not against the house. I can’t tell if it would be a big deal to a lender? Is this something that would count against us, having newer credit, or work for us, having one loan instead of 4 credit cards?

 

[frenchiemom]

In Scotland a home report is done by the buyer before the house can even be marketed. I believe it costs around £500 (maybe more as it was 2019 we last sold/bought) and that cost is upfront for the seller. What I will say though is that the home report is not worth the paper it's written on. Its tells you very little. Things like electrics/plumbing etc aren't inspected and a sentence something along the lines of 'potential buyer should consult the advice of an electrician etc. I'm not exaggerating the home report really is a paper exercise in my opinion.

It’s actually the seller now who has to pay for the home report in Scotland

 

[sega1985]

I have savings if things got desperate I can use that, I’ll also still be saving £400 a month personally so it’s not that tight I’m not able to do that. I think I’m scared it’s a big commitment

 

[Meg78]

House prices vary so much depending on area that is hard to give a generic budget for what to expect to pay.

I was hoping people would say an area alongside budget to showcase the differences across the country