I have just bought my first house

SlyReaper · 14 Apr 2011 at 19:18

Contracts exchanged and completed earlier today. As of 11:40 this morning, I now own property.

£115,000 plus about £2000 total for legal fees, mortgage arrangement fees, etc. Plus another £5000 for all the renovations and miscellaneous things that need doing (although that'll be a long term project, so not all spent at once).

I'm indescribably excited.

J.B · 14 Apr 2011 at 19:19

Do you mind me asking how much you deposit/mortgage is?

Congrats

Crizzy · 14 Apr 2011 at 19:20

Congratulations

I hope to be in the same boat by next year! Enjoy

BigglesPiP · 14 Apr 2011 at 19:20

I'm convinced that all the people involved with buying houses are just conning you. I'm also looking for something in the same price range.

Crizzy · 14 Apr 2011 at 19:21

Did you buy in Bristol?

DM · 14 Apr 2011 at 19:21

good job

SlyReaper · 14 Apr 2011 at 19:23

J.B said:
Do you mind me asking how much you deposit/mortgage is?

Congrats

£30,000 deposit, £85,000 mortgage. So 73% Loan-To-Value ratio.

My family helped immensely with the deposit. I would never have been able to scrape together that much money on my own.

Crizzy said:
Did you buy in Bristol?

Yes, Lawrence Weston.

Cosimo · 14 Apr 2011 at 19:29

Congratulations.

Got any pics?

Glaucus · 14 Apr 2011 at 19:32

Congrats, what size is it out of interes, much work needing to be done?

cm1179 · 14 Apr 2011 at 19:36

how much is 85k costing in repayments per month?

SlyReaper · 14 Apr 2011 at 19:37

AcidHell2 said:
Congrats, what size is it out of interes, much work needing to be done?

Mid-terrace, 2 floors, 2 bedrooms, one of which is a pretty decent size. Not exactly a mansion, but more than enough space for little old me. Yes there's a fair amount of work that needs doing, hence getting such a reasonable price on it; it's the cheapest property that has been sold on that road for a few years.

cm1179 said:
how much is 85k costing in repayments per month?

£448 per month for 25 years. That's with 3.99% interest fixed for 2 years. Given that my current flat I'm renting for £395 per month, it's hardly a humongous burden on me.

Schizophonic · 14 Apr 2011 at 19:38

Congrates, have you ever lived on your own or always been with parents?

SlyReaper · 14 Apr 2011 at 19:39

Schizophonic said:
Congrates, have you ever lived on your own or always been with parents?

I've lived alone for nearly 2 years now, in a little studio flat near the centre of Bristol. Now I'll have a bit more space to live alone in.

Deleted member 77746 · 14 Apr 2011 at 19:40

SlyReaper said:
£448 per month for 25 years. That's with 3.99% interest fixed for 2 years. Given that my current flat I'm renting for £395 per month, it's hardly a humongous burden on me.

even though you put 30k down oh my god.

SlyReaper · 14 Apr 2011 at 19:41

iDroid84 said:
even though you put 30k down oh my god. are you with someone or moving in on your own?

I'll be on my own. There is a second bedroom if I ever decide to rent out to a lodger, but it's not on my agenda for the time being.

J.B · 14 Apr 2011 at 19:41

SlyReaper said:
£448 per month for 25 years. That's with 3.99% interest fixed for 2 years. Given that my current flat I'm renting for £395 per month, it's hardly a humongous burden on me.

It's so annoying, we could easily afford that each month and some but just cant get the deposit together.

Ignore my ramblings, I just get frustrated at the system.

Deleted member 77746 · 14 Apr 2011 at 19:43

J.B said:
It's so annoying, we could easily afford that each month and some but just cant get the deposit together.

Ignore my ramblings, I just get frustrated at the system.

Thats my problem, saving for a deposit and could easy offord that too.

SlyReaper · 14 Apr 2011 at 19:44

J.B said:
It's so annoying, we could easily afford that each month and some but just cant get the deposit together.

Ignore my ramblings, I just get frustrated at the system.

I hear you, I had pretty much resigned myself to renting forever because I couldn't get the deposit together. But I got lucky because I have a very generous family.

Derek W · 14 Apr 2011 at 19:47

thats pretty much what I'm looking at just now although had to save up 20k on my own

and thats only really been in the past 4 / 5 years :eek:

Deleted member 77746 · 14 Apr 2011 at 19:49

when your already renting its hard to sve up for a deposit aswell as pay bills when u have no1 to assist....