Moving house (any builders here?)

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Slacky
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Moving house (any builders here?)

Post by Slacky » Fri Jul 19, 2019 5:06 pm

Hey guys

I was planning on moving house next year as the house me and my family are currently in isn’t big enough. A house has popped up about a mile from my current one which I think has got plenty of potential. This is the first time I’ve actually moved house (first time buyer for current house) and just curious of what’s the steps when moving? A local estate agents is coming round on Monday to value our house but this is abit sudden so haven’t spoke to mortgage company or anything.

Also is there any builders here? The new house has got an extension which sort of looks semi done (plastic roof and slabbed floor) but I would like to convert this into a bedroom and games room but would like some advice on things as if it can’t be done then there’s no point even going for it.

Thanks guys


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Last edited by Slacky on Fri Jul 19, 2019 5:06 pm, edited 1 time in total.

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Ezzra
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Re: Moving house (any builders here?)

Post by Ezzra » Fri Jul 19, 2019 5:42 pm

Just selling my house and buying two new ones. Moved many times, so ask away on the moving front :)
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Re: Moving house (any builders here?)

Post by Slacky » Fri Jul 19, 2019 7:20 pm

Ezzra wrote:Just selling my house and buying two new ones. Moved many times, so ask away on the moving front :)
Wish I was in a position to be buying 2 houses Image just want to get a better idea of the process to be honest. Once we get as valuation on our current house what the next steps do we speak to our mortgage providers before making an offer ?


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Re: Moving house (any builders here?)

Post by Ezzra » Fri Jul 19, 2019 7:33 pm

Slacky wrote:
Fri Jul 19, 2019 7:20 pm
Ezzra wrote:Just selling my house and buying two new ones. Moved many times, so ask away on the moving front :)
Wish I was in a position to be buying 2 houses Image just want to get a better idea of the process to be honest. Once we get as valuation on our current house what the next steps do we speak to our mortgage providers before making an offer ?


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Yes, I would get an idea of how much mortgage you can get. Use a mortgage broker, not direct to a bank or building society, as they'll have access to special deals.
Shouldn't take long to get an idea on finances, then you need to get your house on the market. I would use a physical estate agent, rather than an online one (Purple bricks) as they tend to get a higher price for the property that should more than cover the difference in cost. I would recommend getting a professional photographer at about £150. Most physical estates agents charge 1% plus VAT.
My estate agent does everything, down to handling viewings, as I wanted to be at arm's length from the sale. :)
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Re: Moving house (any builders here?)

Post by Slacky » Fri Jul 19, 2019 7:58 pm

My current deal on my mortgage don’t run out till April next year will I have to pay fees to move early? The estate agents that are valuing my house charge 0.75% plus vat so seems reasonable. How much do brokers charge these days and do you have to pay fees straight away?


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Re: Moving house (any builders here?)

Post by Ezzra » Fri Jul 19, 2019 9:36 pm

Slacky wrote:
Fri Jul 19, 2019 7:58 pm
My current deal on my mortgage don’t run out till April next year will I have to pay fees to move early? The estate agents that are valuing my house charge 0.75% plus vat so seems reasonable. How much do brokers charge these days and do you have to pay fees straight away?


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You'd need to check the mortgage offer letter to find out if there are any early reception charges. 0.75% plus VAT is a very competitive rate. Mortgage brokers fees vary, but to give you an idea, my son took out a mortgage, via a broker, in May this year and IIRC the fee was £350. You wouldn't normally pay the fee until the mortgage completes :)
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Re: Moving house (any builders here?)

Post by barneyrubble » Sat Jul 20, 2019 10:01 am

Slacky wrote:
Fri Jul 19, 2019 7:58 pm
My current deal on my mortgage don’t run out till April next year will I have to pay fees to move early? The estate agents that are valuing my house charge 0.75% plus vat so seems reasonable. How much do brokers charge these days and do you have to pay fees straight away?


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Depends if it’s a good deal and if it’s portable

You might be able to move with existing mortgage and just extend the borrowing.

I’ve done that a couple of times
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Re: Moving house (any builders here?)

Post by Jamesno1 » Sun Jul 21, 2019 8:26 am

Use a company like london&country mortgages, they're fee free and will give you advice, a whole of market search and will find you as cheap a mortgage as you're likely to find.

I'd also start using a sold house prices website to get an idea of whats sold in your local area so you don't end up underselling your own home...

Do your research and due diligence then you won't end up with a sour taste later down the line.

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Re: Moving house (any builders here?)

Post by pem10 » Sun Jul 21, 2019 10:51 am

Have you got a buyer for your current property? Unless you're in a great financial position then mortgage companies usually want one cleared before they lend on another. May be wrong but thats how I understand it.

Then as mentioned get a mortgage in principle ready but beware I think they expire after a while.

Is your prospective property empty? Are they in a position to move?

Really just a matter of getting your ducks in a row so you can move as quickly as possible. However it pans out it's a stressful time.

Hope that helps and good luck.
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Moving house (any builders here?)

Post by Slacky » Sun Jul 21, 2019 8:51 pm

This is all sudden I wasn’t planning on moving till this house popped up. I’ve got a valuation on my house tomorrow and depending how much it’s worth I’ll give my current mortgage supplier a ring tomorrow and see if I can get a mortgage in principle.

I dug out a annual statement from my current mortgage supplier and by the figures they want to repay early it looks like they want 2%

The property I’ve seen the owners have moved out but I haven’t arranged a viewing just because I didn’t have anything in place for my house

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Re: Moving house (any builders here?)

Post by Slacky » Mon Jul 22, 2019 9:30 pm

Just a quick update guys

I’ve had my house valued today and it’s worth 20k more than I thought which is a bonus. Spoke to the mortgage company and got a agreement In principle. I asked them about the current mortgage which don’t finish till April next year they said the existing mortgage gets took over at the current rate and the extra I’ll be borrowing on the mortgage will be at the new rate but I forgot to ask what happens to existing rate when it finishes in April


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Re: Moving house (any builders here?)

Post by rob123d » Tue Jul 23, 2019 4:12 pm

Slacky wrote:
Mon Jul 22, 2019 9:30 pm
Just a quick update guys

I’ve had my house valued today and it’s worth 20k more than I thought which is a bonus. Spoke to the mortgage company and got a agreement In principle. I asked them about the current mortgage which don’t finish till April next year they said the existing mortgage gets took over at the current rate and the extra I’ll be borrowing on the mortgage will be at the new rate but I forgot to ask what happens to existing rate when it finishes in April


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I had a similar set up after moving and took the new part of the mortgage fixed for 2 years which meant new and existing parts went onto variable rate (after fixes finished) within 2 months of each other. I could then consolidate both into 1 again and remortgage onto another good fixed deal.

The existing part will go onto variable rate in April if you dont arrange a new mortgage
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Re: Moving house (any builders here?)

Post by Slacky » Sat Aug 10, 2019 11:34 am

The house we was looking unfortunately sold before we could arrange a viewing which is a shame but still looking doesn’t seem to be much popping up at the minute though


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Re: Moving house (any builders here?)

Post by Slacky » Sun Sep 08, 2019 5:04 pm

We’ve got an offer on our house after saturdays open day but didn’t have chance to ring the estate agents back before they closed to find out what it is.

We’ve seen a couple of new builds we are tempted by but has any one had any experience with buying a new build as the one we are more swaying towards is slightly out of our budget by about 15k. Are the prices negotiable or is it a strict price? I’ll be speaking to them tomorrow to see what they say


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