House Buying Is More Stressful Than Divorce, Death or Bankruptcy

[absley]

Chicky!

[Ella77]

Tentative yay.

[Jupiter]

Fingers crossed!

[Zoomer]

I really hope it works out, Chicky.

[emma_p]

Everything crossed for you Chicky!It does sound like good positive news.

My BIL's solicitor flipped back to exchange and completion on the same day which is meant to be tomorrow. The woman whose house he's buying is meant to be moving into a retirement village and they have gone full lockdown so who knows if it will actually happen?!

[Rosa]

Hope it works out, Chicky!

That sounds stressful, emma.

[Tsu]

Hope it works, Chicky. Fingers crossed for you.

[nineseven]

Hope it works, Chicky. Fingers crossed for you.

How's it going with you?

[Tsu]

Hope it works, Chicky. Fingers crossed for you.

How's it going with you?

We moved in using two men and a van on April 18. It was that or cough up £1100 a month in extra rent. We have no flooring so we have only brought in the bare minimum furniture because when the floors do go down, the stuff will have to come out again so I still can't unpack. Some of my furniture is going mildew in the garage even though it's dry in there. Good job we're right close to the IKEA as I'll need to replace some stuff I think.

I am liking the house more now that we have done the kitchen and decorating.

Here's the view from our bedroom window.

[smalex]

IKEA looks like it's playing hide and seek

Glad you got in, Tsu.

And fingers crossed Chicky!

[Derek Nimmo]

When you say "right close" to IKEA, you mean it!

What a nice space that looks, I rather fancy a sit under your tree.

[Tsu]

That is the wildlife corridor that the developer had to leave when the estate was built. Our garden is a lot smaller (but big enough for two chairs and some cocktail glasses).

[Chicky]

Ah glad you got in Tsu. I hope you can stop the damp and get your floor in soon.

[nineseven]

Ah I’m glad you got in, Tsu.

[Starry]

I’m glad you finally got in Tsu. And that all sounds promising Chicky!

There hasn’t been much movement here. We got the survey and valuation done though, which is another hurdle passed.

[Beena]

How are you getting on, Chicky, Starry?

We've started our search again as we can't practically spend another winter in the rental, not if we're WFH, which we may well be. There's only heating in the bedrooms and even then our monthly bill averaged around £400.

I'm nervous about the whole thing - job security, negative equity and all, but non-student, non-holiday rentals are hen's teeth (hence our lovely current home) so that doesn't feel like an option.

Two viewings so far, both empty properties so we've been able to show ourselves around (much better than a loitering agent waxing lyric about woodchip). Tomorrow we're viewing the home of someone who is selling to buy one of the houses we're interested in, which will be fun.

[Chicky]

Were either of them any good Beena? The lack of heating does not sound fun. Have you noticed any difference in pricing since pre-Covid?

Still waiting for the valuation to occur here. Our indomitable estate agent is ringing the mortgage company every day I think we’re hoping to get news this week. The removal company are running again though, so in theory as soon as the valuation is done and the people at the top find a rental property then we should get things moving (bad pun).

[Starry]

I’m not sure I could cope with the heating situation there Beena, hopefully you find somewhere you like and can get moving.

We are waiting on contracts here. I am up to 90 because some banks are refusing to draw down mortgages where people’s employers have applied for the covid wage subsidy scheme until they come off the scheme - even where their take home pay hasn’t changed. I’d fall into that category, there’s no threat to my job or talk of any pay cuts. I’m hoping that because we got the letter of offer after being asked if COVID had affected us that that will be it.

[Beena]

That's so frustrating, Starry. Fingers crossed. We spoke to our mortgage lender yesterday to see if there were any policy changes since Covid and they were the same - reduced lending if you're furloughed and only 85% LTV. Thankfully, none of that matters for us, but I can imagine it will make quite a difference to the market.

Were either of them any good Beena? The lack of heating does not sound fun. Have you noticed any difference in pricing since pre-Covid?

There's been quite a number Under Offers reappear, but still at the same price. The few reductions are nominal at best (1% or less) and always on houses that have lingered on the market for 12 months plus, usually as they are hideously overpriced, but it seems to be doing the trick and they're now selling. Who'd have thought knocking 5k off 500k would make such a difference.

I'm weary of it. We're trying to arrange second viewings for a couple and can't get a slot. The agent is trying to steer us in a particular direction, towards a house owned by a client who wants to buy the other property we want to second view. I'd like us to come to our own conclusions without feeling played.

[Starry]

That seems a bit unethical of the agent Beena.

So it turns out that my pay slip makes no mention of the wage subsidy scheme. If I was on it, it would; I’ve checked with a colleague. The same goes for the past two Months. So I’m not really sure what’s going on here but it removes one worry dealt with.