The nervous wait to exchange....

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Semple said:
This.

Your pension and student loan are taken from your gross salary (or pre-gross if they operate a salary sacrifice scheme).

Everything else - mortgage, bills, food, luxuries are all taken from your net salary.
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Student loan isn't
 
squerble said:
I know it's too late now, but Strike have been the cause of many delays on 2 of our attempted purchases. There's a reason they're free - they're beyond crap, especially if you then pay for their legal services.
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I only opted for the photographs. I am not sure what my next step is, but if it is solicitors I will probably get in touch with the company that sorted us out when buying this new build.
 
dLockers said:
Student loan isn't
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It is... (unless you're paying it back via d/d as 413x is).

Your repayments are worked out before any tax is deducted, not after.

As i worked out in @413x example, 44k gross salary, is £24,116 over the threshold, so he would pay 9% of the 24,116 back each year.

If it wasn't gross, his net salary would be something like 32k, which is only 12,116 over threshold, meaning repayment would be £1,090/yr or £91/mth.
 
Semple said:
It is... (unless you're paying it back via d/d as 413x is).

Your repayments are worked out before any tax is deducted, not after.

As i worked out in @413x example, 44k gross salary, is £24,116 over the threshold, so he would pay 9% of the 24,116 back each year.

If it wasn't gross, his net salary would be something like 32k, which is only 12,116 over threshold, meaning repayment would be £1,090/yr or £91/mth.
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I think we're mixing deduction amounts and also *how* it is deducted.

Calculations are made on gross, but deductions are made from net.
 
shiver said:
Exchange date set for Friday, Completion next Wednesday for sale of our London flat! Now we need to get rid of some wardrobes....
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I knew I spoke too soon...buyer's solicitors are dragging their heels for absolutely no reason. I think they may have mixed it up with another transaction because they kept raising concern about this unknown outstanding service charge cost that didn't exist.

The estate agent confirms the buyer is keen to go ahead and exchange but their own solicitor is being difficult :confused:

We haven't exchanged, it was supposed to be Friday, then Monday, then today....tentatively hoping it will be exchange AND complete tomorrow but at this point I'm not holding my breath.

That being said, our solicitor has been great. Frequent communication and very transparent on the process. They've been pushing for exchange as much as possible.
 
Is it normal for an estate agent to tell you they don't have boundary details for a property? We were interested in a fixer-upper but land boundary was important to our plans of adding an extension. Apparently it was a "gentleman's agreement" and we would have to sort it with neighbours.

Couldn't be bothered with that so pulled out.
 
Absolutely I wouldn't expect an estate agent to have those records. That would come up from the searches and land registry records handled by solicitors.
 
shiver said:
I knew I spoke too soon...buyer's solicitors are dragging their heels for absolutely no reason. I think they may have mixed it up with another transaction because they kept raising concern about this unknown outstanding service charge cost that didn't exist.

The estate agent confirms the buyer is keen to go ahead and exchange but their own solicitor is being difficult :confused:

We haven't exchanged, it was supposed to be Friday, then Monday, then today....tentatively hoping it will be exchange AND complete tomorrow but at this point I'm not holding my breath.

That being said, our solicitor has been great. Frequent communication and very transparent on the process. They've been pushing for exchange as much as possible.
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And we're over the line! Exchange and completion happened this morning :cool:
 
Buffman said:
Nice, I'm guessing you don't have to move your stuff if you've completed the same day as exchange or in rented currently?
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Fortunately we bought a house and moved over a year ago. The flat was rented out for a year and just sold, only ended up being empty for 1 month.

It did require digging deep into pockets for the house deposit + extra stamp duty but we completed that within the stamp duty holiday so made a good saving there. We also get to claim back the additional rate stamp duty now that we have sold the original place.
 
Offer accepted. Mortgage application out, solicitors instructed. It’s going crazy fast here. We only made the offer on Saturday. Nearly 10% over asking to secure sadly but market here in crazy. I don’t think we got a bad deal either, seeing previously sold properties we’re actually in a good price range. Squeezed under the 450k LISA limit.

I’m already stressed, tones of paper work etc. And as expected printer packs up when I need it the most. Exciting and I’m hoping it’s all quick and without hiccups.
 
Our mortgage comes to an end next February. Couldn't be worse timed. considering paying the erc of 2k to get another t year fix!

Every percent increase is 100 ppm extra a month.

It's a really difficult decision!
 
413x said:
Our mortgage comes to an end next February. Couldn't be worse timed. considering paying the erc of 2k to get another t year fix!

Every percent increase is 100 ppm extra a month.

It's a really difficult decision!
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What's your LTV?

Full percentage increases will take ages to achieve btw. We normally raise in fractions of a percentage.
 
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