Woooo Bought my first house

Nathan

Nathan

Nathan

Soldato
Joined
4 Feb 2003
Posts
5,376
Location
West Midlands
Just bought this!

house.JPG


3 Bed link-detached. Awesome concervatory on the back too

In a nice part of Shrewsbury, originally up for £205000 and we got it for £163000 :) Pretty sweet for a first time buyer I think!

Really happy, got mucho plans for home media etc. Just got to wait a month now to move in. Got a good mortgage too, fixed for 5 years @ 5.25% for 85% LTV.
 
Ah yes.....I remember kitting out my first house with AV gear. Had three rooms with 5.1 systems installed, had my decks linked into two separate sound systems spanning 2 rooms, via my PC. Had ceiling speakers in the bathroom.

Anyway, enjoy. That looks like a great place....as you say not bad at all for pad#1!

The only downer....watching all your savings wither away as you spend, spend, spend!!! -but heh, this is what you saved for, right?!
 
What sort of cabling should I be putting to the main rooms from the loft. Im thinking HDMI, speaker, component and USB?
 
Nice! Congratulations man,

Where abouts in Shrewsbury if you don't mind me asking? looks like a nice area from the front ;)
 
gosh north south devide (even if you are from the midlands). cant get anything for less than 250k around here. Well on this estate anyhow.
 
Is 5.25% fixed for 5 years good at the moment? I thought people were getting lower than that 3-4 years ago when interest rates were much higher.

As much as I want to buy a house now I know there is a 95% chance I could have bought the same or similar house 6-12-18 months down the line for £1000's less so I'm going to wait
 
mame said:
Is 5.25% fixed for 5 years good at the moment? I thought people were getting lower than that 3-4 years ago when interest rates were much higher.

As much as I want to buy a house now I know there is a 95% chance I could have bought the same or similar house 6-12-18 months down the line for £1000's less so I'm going to wait
Click to expand...

Yes, your peraps getting LTV mixed up. If you have a sustantial deposit i.e. 25% + then you can get good rates. If you have 40% you can get 3.99%!

TBH, as long as you negotiate a good discount at current prices it would be a good idea to buy now IMO. Just make sure you get a good cusion from the original price.
 
Nathan said:
Yes, your peraps getting LTV mixed up. If you have a sustantial deposit i.e. 25% + then you can get good rates. If you have 40% you can get 3.99%!
Click to expand...

Not sure I would call 25% substantial, probably the minimum deposit I would save up!

Congrats on your new house, I might personally have fixed for longer though considering what's going to happen to rates after the recession!
 
I would call 25% very substantial, if you go back 2 years that would have been massive. Not many people have the lifestyle or income to get anything like 30-40% deposits unless they stay at home with Ma and Pa for 10 years.
 
You must log in or register to reply here.
Back
Top Bottom