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Thread: The House Thread

  1. #2001
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Ben View Post
    It's funny the amount of people that do though. I bought a car for the wife yesterday afternoon and told the dealership I'd be buying it cash (ie. I don't want your rip-off finance) and he told me they only accept payments above £1,000 by bank transfer. Well fucking duh.
    Tradesmen try it on with cash, that's why he'll have said that. A friend of mine is one of these builders who is forever folding and starting different iterations of the same company for tax purposes, and prefers cash in hand to the point if he wants to buy something off the xbox store he'd rather go to the shop and buy a points top up card with cash than be a sane person and do it there and then with a card.

    He was whinging to me once that he went to pay for his feckless lad's car and turned up with £10k in cash which unsurprisingly nobody was interested in taking off his hands. This was an outrage, as far as he was concerned. Why shouldn't they take his illicit tax free untraceable cash?

    Also I know some people who were running fags and booze across the channel in lorries years ago as a large scale operation to beat the duty and sell for a profit, they got caught in the end but while the good times rolled people were getting tesco carrier bags with £5k in them.
    Last edited by Lofty; 26-03-2022 at 06:06 AM.

  2. #2002
    Won the Old Board Lewis's Avatar
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    The satisfaction you must get from depriving the Exchequer of your money. Tax avoidance must pay for itself a million times over just by enabling you to wake up every morning knowing you're in front.

  3. #2003
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Lofty View Post
    Tradesmen try it on with cash, that's why he'll have said that. A friend of mine is one of these builders who is forever folding and starting different iterations of the same company for tax purposes, and prefers cash in hand to the point if he wants to buy something off the xbox store he'd rather go to the shop and buy a points top up card with cash than be a sane person and do it there and then with a card.

    He was whinging to me once that he went to pay for his feckless lad's car and turned up with £10k in cash which unsurprisingly nobody was interested in taking off his hands. This was an outrage, as far as he was concerned. Why shouldn't they take his illicit tax free untraceable cash?

    Also I know some people who were running fags and booze across the channel in lorries years ago as a large scale operation to beat the duty and sell for a profit, they got caught in the end but while the good times rolled people were getting tesco carrier bags with £5k in them.
    Not to mention Urban yoots in tracksuits wanting M3's with duffel bags full of 20's.

  4. #2004
    Senior Member Manc's Avatar
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    At long last the market seems to be slowing down.

  5. #2005
    Senior Member Lofty's Avatar
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    Still seeing some hilarious valuations round here but it's all relative if you are already on the ladder I suppose.

  6. #2006
    Senior Member Andy's Avatar
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    It mental here at the moment. I used to live on an ex council estate and moved a year ago for 210k which was the most a house on that estate had sold for as I'd renovated it from top to bottom. The shitty ones are selling for 250k now.

    My friend bought a new build four years ago, did nothing to it other than a bit of paint and some bits in the garden and just sold it for 100k profit.

    I'm glad I'm in a house I want to stay long term as its so hard for income to keep up with the rising prices.

  7. #2007
    Senior Member Lofty's Avatar
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    If I have a 5 year fixed rate mortgage deal I am 3 years into, but the value of my house has gone up massively since I bought it, can I remortgage early? Potentially to release some equity and pay for a large project to finish the house renovation off? Or would it make more sense to just get a loan for that?

  8. #2008

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    I'm no expert here but find out what your fee is for remortgaging during the fixed (usually 1-2%) then compare the interest rate on your potential new mortgage, plus the remortgage fee, versus what the bank would offer you for a loan (if it's >£25k I'm going to guess the remortgage will be way cheaper).

  9. #2009
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    Quote Originally Posted by Lofty View Post
    If I have a 5 year fixed rate mortgage deal I am 3 years into, but the value of my house has gone up massively since I bought it, can I remortgage early? Potentially to release some equity and pay for a large project to finish the house renovation off? Or would it make more sense to just get a loan for that?
    You can, you should be able to do a further advance with your lender to borrow the extra money and it will be based on current value. I wouldn't advise to move away from your current lender though if your rate is any good.

  10. #2010
    Senior Member Lofty's Avatar
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    Thanks for the replies, will see what they say.

  11. #2011
    The Artist Formerly Known as Taz
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    Is landlord insurance for B2L essential or can it be dodged? I think I recall my mortgage lender saying it is but I mean society tells you drink driving is illegal so you don't know what to believe.

  12. #2012
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    Quote Originally Posted by Don View Post
    Is landlord insurance for B2L essential or can it be dodged? I think I recall my mortgage lender saying it is but I mean society tells you drink driving is illegal so you don't know what to believe.
    It will be in the T&C's of your mortgage offer and technically if you don't have it they could call your mortgage in. Also if the house burns down you will still be liable for the mortgage even though you don't have a house.

  13. #2013
    Won the Old Board Lewis's Avatar
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    Ethnic not be a dodgy landlord challenge. Already failed.

  14. #2014
    Senior Member niko_cee's Avatar
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    Does it not depend on what you are buying to let? If it's a leasehold property within a bigger scheme [ie a flat] the freeholder will usually have insurance to cover loss of the building itself etc, although I guess landlord insurance also offers protection against loss of rent situations. With a mortgage lender, aren't they usually more interested that the property is insured in a general 'buildings insurance' sense?

  15. #2015
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    Ah yeah I have assumed this is a freehold and not a flat. If you are buying a flat then your service charge should cover you for that. But, check for any loopholes in the terms. Effectively Landlord insurance is just buildings insurance and then you can add things on like rent protection, home emergency and the like.

  16. #2016
    The Artist Formerly Known as Taz
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    Ta. It's about £130 for the year so not the biggest con.

  17. #2017
    Senior Member Lofty's Avatar
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    How often should I be resealing my shower tray?

  18. #2018
    ram it up your shitpipe Giggles's Avatar
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    Quote Originally Posted by Lofty View Post
    How often should I be resealing my shower tray?
    If it’s an emergency you should ask someone on Facebook for a plumber.

  19. #2019
    Senior Member Andy's Avatar
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    Quote Originally Posted by Lofty View Post
    How often should I be resealing my shower tray?
    You can tell if the seal has gone as there will be a gap between the silicone the wall/shower.

  20. #2020
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Giggles View Post
    If it’s an emergency you should ask someone on Facebook for a plumber.


    Quote Originally Posted by Andy View Post
    You can tell if the seal has gone as there will be a gap between the silicone the wall/shower.
    Seems fine though the wife has admitted to vigorously cleaning the tray prior to a few drops appearing on the floor downstairs beneath it. Though it was monitored again during a shower with no obvious dripping, there was a small wet patch again later. Going to reseal and see what happens.

  21. #2021
    Senior Member Lofty's Avatar
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    Next door neighbour selling up, spoke to the couple renting it this morning and they think it has subsidence. Given that it's the semi attached to mine, how fucked am I? No evidence at all of subsidence in this house.

  22. #2022
    Senior Member Spikey M's Avatar
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    I would speak to a surveyor and potentially look to move ASAP. I can't imagine it's going to be an easy (or cheap) fix and Insurance companies rarely cover shit like this.

  23. #2023
    Won the Old Board Lewis's Avatar
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    Wouldn't anyone buying it find out as soon as they speak to a surveyor?

  24. #2024
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    Quote Originally Posted by Lofty View Post
    Next door neighbour selling up, spoke to the couple renting it this morning and they think it has subsidence. Given that it's the semi attached to mine, how fucked am I? No evidence at all of subsidence in this house.
    Did they say what they've seen that makes them think subsidence is present?

  25. #2025
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Lewis View Post
    Wouldn't anyone buying it find out as soon as they speak to a surveyor?
    Potentially. I guess that's where you just cross your fingers.

  26. #2026
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Yevrah View Post
    Did they say what they've seen that makes them think subsidence is present?
    Well they reckon there are loads of cracks inside but I have looked at theirs this afternoon and can't see any external signs of subsidence on either their house or ours. They are renting and being moved out on the back of the sale so possibly sour grapes At least I won't have to listen to her screaming like he is murdering her whenever he gives her the business now.
    Last edited by Lofty; 30-04-2022 at 05:20 PM.

  27. #2027

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    Many of those cracks could easily be superficial. My parents’ house was the same but none were a threat to the structure of the house.

  28. #2028
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    Had our mortgage approved for a house in Haarlem today (city just outside Amsterdam, not the one in New York)

  29. #2029
    Senior Member Boydy's Avatar
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    What's the Dutch property market like? As mental as the UK's?

  30. #2030
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    Quote Originally Posted by Boydy View Post
    What's the Dutch property market like? As mental as the UK's?
    Yeah, just as mental as London. Brexit has meant a load of companies moving out here plus the Dutch interest rates have been super low. They've gone up a bit now and the government are trying to take some heat out of the market by restricting BTL/prioritising low-cost first-time buyers etc. but mostly too little too late.

  31. #2031
    Senior Member Manc's Avatar
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    How much are people paying for buildings and contents insurance?

  32. #2032
    Senior Member Boydy's Avatar
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    About £17 a month

  33. #2033
    Senior Member Manc's Avatar
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    £22 for all the bells and whistles.

  34. #2034

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    British Gas have just emailed me asking if I’d like to pay £45 more per month for my gas and electric. Even with the mooted 50% cap rise in October I’d be paying roughly what they want to fix me on now. Cheeky cunts.

  35. #2035
    Senior Member Manc's Avatar
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    Completed on the house.

  36. #2036
    The Artist Formerly Known as Taz
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    Meanwhile my B2L purchase fell through and I'm contemplating suing the solicitor for negligence. Great scenes.

  37. #2037

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    Gammon?

  38. #2038
    The Artist Formerly Known as Taz
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    Gammon.

  39. #2039
    Pretty Much Amazing Mike's Avatar
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    Quote Originally Posted by Mike View Post
    Had an offer accepted on a house, it’s pretty perfect. Apparently someone offered more than us but the seller said they liked us more, fingers crossed it goes through without much fuss.
    Just picked up the keys!

  40. #2040
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    Is garden soccer selling the naming rights to the new ground?

  41. #2041
    Senior Member Lofty's Avatar
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    Is porting a mortgage when buying a new house a ballache or straightforward? 2 years left in the Early Repayment Charge period and it is swinging the loan maximum £35k less due to a £6k charge, apparently porting the mortgage can avoid that? I assume the trade off is a worse interest rate?

  42. #2042
    Senior Member Spikey M's Avatar
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    We tried to move in the early days of Covid and it was a no go. I assume the mortgage adviser would have looked into whatever "porting" is. We had to wait until our Fixed Term was ending as the difference was ridiculous.

    Mortgage companies shat the bed when Covid first turned up though, so that could be part of it.

  43. #2043
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    We should have moved on Thursday last week.

    The porting side of things has been pretty easy with TSB and saved us tons not only on the early repayment charge but also keeping the low %

    The move has now been delayed though because our buyers solicitor is crap and no one could get in touch with them about exchange of contract. Our seller lost their nerve and canceled their movers and now can't get them back until the 19th.

  44. #2044
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Spikey M View Post
    whatever "porting" is.
    To my layman eyes it is bascially renegotiating the amount and rate of an existing mortgage with the current lender rather than switching, to get around the fixed stuff.

  45. #2045
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Lofty View Post
    To my layman eyes it is bascially renegotiating the amount and rate of an existing mortgage with the current lender rather than switching, to get around the fixed stuff.
    Ah, yeah they did try that, but Halifax were being moist over Covid and would only offer us half of what we already had.

    HSBC would have given us a sensible amount, but the fee to get out of the Fixed Term was mental so we just had to wait.

  46. #2046
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    Porting is where you take your current mortgage to a new property. So if you have a 150k mortgage at a rate of 1.70% that’s fixed till May 2024 you can potentially take that to a new house. If you need to borrow an extra 100k that is done based on your current banks available rates.

    As it’s a bank though they don’t just let you take the money you already have without doing a new affordability test on the portion you currently have. So it’s treated as a whole new application.

  47. #2047

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    I’ve never heard of porting. Is it common place?

  48. #2048
    Senior Member niko_cee's Avatar
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    I don't know if it's common anymore, but I had a mortgage [still do actually] that was 'portable' from before the financial crisis, but it's portability is subject to basically reapplying so if they don't want to give you the rate [say it's too good] they'll find a way not to, as banks are, universally, cunts.

    Was a cracking deal that one on its face [0.24% above base variable] when rates were 5%+, then the world tanked and the small print '2% floor' kicked in. Like I said, cunts.

  49. #2049
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Luke Emia View Post
    Porting is where you take your current mortgage to a new property. So if you have a 150k mortgage at a rate of 1.70% that’s fixed till May 2024 you can potentially take that to a new house. If you need to borrow an extra 100k that is done based on your current banks available rates.

    As it’s a bank though they don’t just let you take the money you already have without doing a new affordability test on the portion you currently have. So it’s treated as a whole new application.
    Is there anything a broker can do in terms of mitigating the effects of an Early Repayment Charge or is it better to speal to the current lender? Just not sure how an early repayment charge of £6k results in £35k less maximum loan calculation, surely it would just be £6k!

  50. #2050
    Senior Member Lofty's Avatar
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    Looking at remortgaging now and remodelling the weird extension we inherited into a large kitchen (currently a weird rabbit warren of kitchen, toilet and sun room with loads of wasted space as a long hallway).

    The single story extension has a flat felt roof on it, if we wanted to put a slate roof on it or even a glass one, raising the ceiling etc would that need planning permission?

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