First time buyers

Glaucus · 7 Nov 2009 at 18:52

Have a look at this site

http://www.homebuy.co.uk/

Depending on what you want you might have new or resale houses that they will loan 25-40% if you qaulify.

mattheman · 7 Nov 2009 at 18:58

Jimmy1983 said:
Last question is...

'Was your total income more than £13,100 between 6 April 2008 and 5 April 2009?'

Is this after you take away tax from your income?

People that have tax credits should be ashamed of themselves, expecting others to pay out of their taxes benefits to those that dont earn, get an extra job dont ask for handouts.

.Lethal · 7 Nov 2009 at 18:59

Rotty said:
think you need kids to get working tax credits

Normally this is true but it isn't wholly correct.

If you are over 25, working over 16 hours and earn below 18k a year you will be entitled to working tax credits.

I would make sure the hours and salary is 100% correct as this is just going by what I remember a year ago, it is around that mark though.

mattheman · 7 Nov 2009 at 19:04

.Lethal said:
Normally this is true but it isn't wholly correct.

If you are over 25, working over 16 hours and earn below 18k a year you will be entitled to working tax credits.

I would make sure the hours and salary is 100% correct as this is just going by what I remember a year ago, it is around that mark though.

only if you have children, if not its 30 hours.

Jimmy1983 · 7 Nov 2009 at 19:12

mattheman said:
People that have tax credits should be ashamed of themselves, expecting others to pay out of their taxes benefits to those that dont earn, get an extra job dont ask for handouts.

Thanks for your input, Ive been working my whole life :rolleyes:

.Lethal said:
Normally this is true but it isn't wholly correct.

If you are over 25, working over 16 hours and earn below 18k a year you will be entitled to working tax credits.

I would make sure the hours and salary is 100% correct as this is just going by what I remember a year ago, it is around that mark though.

Well my salary is less than 18k, so I guess that I qualify

.Lethal · 7 Nov 2009 at 19:17

mattheman said:
only if you have children, if not its 30 hours.

Ah, thanks for clearing that up.

fendi · 7 Nov 2009 at 19:20

mattheman said:
You have no idea, this QE is creating another bubble, in the housing market you can call it an institutional bubble. While 1000s of people are losing there jobs others are rushing back in buying properties while others are all max out on debt, you'll see another one worse than what we have seen since aug 2007.

go on...

Duke · 7 Nov 2009 at 19:23

Jimmy1983 said:
Lease is 100 years, and the ground rent and service charge per year is £1383.

Over £100 a month a lot to go out. I guess you won't find a house for that price though.

Jimmy1983 · 7 Nov 2009 at 19:27

Duke said:
Over £100 a month a lot to go out. I guess you won't find a house for that price though.

Yeah I thought that, and it doesnt have access to communal entrance or lift etc

mattheman · 7 Nov 2009 at 19:43

fendi said:
go on...

Beware the Ides of March, they should have let the banks with the biggest problems go bust.

philjohn · 7 Nov 2009 at 22:56

Remember if buying a flat to factor in ground rent and management company fees - these can range from minimal (we were paying £50 a year ground rent and £50 a month managmenet fee) to extortionate (but if they really are extortionate you'd have grounds to take the management company to a Leasholders Valuation Tribunal where they'd have to show the fees were justified).

Duke · 7 Nov 2009 at 23:14

mattheman said:
Beware the Ides of March, they should have let the banks with the biggest problems go bust.

You really talk some ****.

Jonny69 · 8 Nov 2009 at 10:27

edit: nm. It's Sunday

lambda · 8 Nov 2009 at 19:25

Duke said:
You really talk some ****.

Although I don't agree entirely with his extreme prediction, there are a lot of economist predicting a further downfall - ie a double dip.

It may feel unlikely as confidence increases, but come on, the worst recession in 80 years, and its suddenly all over in a few months?

Felix · 8 Nov 2009 at 19:55

Same here, having said that, I just bought!

Houses and flats are still bought and sold in the recession, just not as many and at a buyer dictated price.

Jimmy1983 · 10 Nov 2009 at 12:59

Just found out that th flat us for sale by another estate agent, which I didn't know wa possiable.

Jimmy1983 · 12 Nov 2009 at 21:40

Spoke to the estate agent today and she said that 2 offers have been made one of which has been accepted. Kinda disappointed but as its a reposition it may not go through.

Duke · 12 Nov 2009 at 21:43

lambda said:
It may feel unlikely as confidence increases, but come on, the worst recession in 80 years, and its suddenly all over in a few months?

Well over a year now isn't it? Not that short.

Felix · 16 Nov 2009 at 00:03

Jimmy1983 said:
Spoke to the estate agent today and she said that 2 offers have been made one of which has been accepted. Kinda disappointed but as its a reposition it may not go through.

Don't worry there will be more!

SuperBOB · 16 Nov 2009 at 01:51

hm

If your in it for the long haul its always been better to buy, regardless of any recession/bubble.

First time buyers

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