Exchange/Completion anxiety

[MrsWarleggan]

AIBU to want to go up to my bathroom and physically be violently sick?!

Exchange tomorrow, complete on 12/11.

FTB's and we are buying an ex housing association flat. We need to do a lot of work and we can't ask for permission to do it until we actually complete so will literally have 2.5 weeks to get the main bit done before we have to move out of our current rental.

Our mortgage and life insurance is £200 less than what we are paying in rent.

I keep thinking about section 20's coming in and freaking out about how we will pay them (we are fully aware this is a possibility but I suffer massive financial anxiety and we could have exactly the esame if we owned freehold), what if the boiler packs up in two years? What if, what if, what if..... but I just can't stop over thinking about things I have no control over!!!!

We love the flat and its back in the village we want to be in....

Please hold my hand and tell me I'm not being unreasonable!! It's just hit me what a MASSIVE thing this is!! 😭😭🤮🤮

Congratulations on getting to this stage. Most people tend to freak out at this point (I'm an estate agent so see it all the time!) Don't worry its completely natural.

You mentioned having to ask the council to do work you wish to do after completion. Knowing most councils there response tends to be slow so please bear this in mind when it comes to you having to move into the house after 2.5 weeks.

Stop panicking and focusing on things that may not even happen! Just got yourself to exchange and then most people relax a little. Good luck!!

Thankyou!
I have already spoken to them and as its electrical and with 2 children moving in they have already stated it would be an urgent request so should be a "few days".

I have already drafted a letter with photos (think 60's consumer unit with wires coming straight out the fuse box unprotected!) to send off tomorrow after exchange in the hope it may speed up the process. Might be being a bit hopeful though!!!

@MrsWarleggan that's great news with the council and only being a few days!! Honestly you'll be absolutely fine. We moved ourselves back in December and fully remember the stress! Considering I do it as a job its completely different when it's yourselves moving!!

@LittleLadyCece

We are never ever ever moving again!!! Im scarred for life from the solicitors we've been using!

Never again!!

Oh goodness I had this a few weeks ago. I did all the calculations for the money side of things and was freaking out that I had missed something and the solicitors would ask me for an extra £50k that we wouldn’t have. I also am never ever moving again!!!

Don't panic about boiler breakdowns and things that might happen in a couple of years OP, you'll be surprised how quickly the mortgage payments don't seem as bad as they did the first few months. Banks etc, don't usually lend more than people can afford if they've budgeted properly, so as long as you're sensible I'm sure you'll be fine.

Good luck in your new home!

Isn't a section 20 payable via a monthly service charge?

Don't worry about doing all the works immediately. It's perfectly possible to live amongst chaos, I've done it twice in my life. I currently have sockets coming off the walls and an almost two year old.

If your boiler breaks down in time then you can just get a new one. If you haven't got the cash then get it on finance, job done.

Enjoy home ownership!

@sbhydrogen

We pay a service charge but that just covers communal upkeep. All the BIG jobs are one offs. We have been told a big job is due within the next 5 years. We will cross the bridge when we come to it. Most councils/housing associations are cash strapped at the moment so can't see them doing it within the next year and it has to go through consultancy etc.

We were desperate to get back to the village as our eldest goes to school there and we wanted youngest there too so as far as we are concerned the future financial hit will be worth it in the long term. There's ways it can be paid (payment plans etc) so just need to stop stressing, but I'm one of those that can't! 😂

..... and we've exchanged!!!! 😬😬😬😬😬