Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Other subjects
Original poster

Do you think this might work? More mortgage stuff sorry.

33 replies

OnTheFlossDayOfChristmas · 10/12/2005 11:34

Right, our 'top' offer on the house we like is not doable or so it seems atm. I have left it open at this time, but I was wondering. If we were to offer the vendor to pay our stamp duty and leave the washing machine and oven, it might actually work in our favour. As at some point in this move we would end up putting a considerable sum on a credit card. DP dosen't think it will work - if they can't get the cash for the mortgage then they can't get the cash for this (rather cheeky) idea. Anyone have any experience or ideas?

OP posts:
WickedWinterWitch · 10/12/2005 11:49

I don't understand how it would work or what you're proposing, can you explain?

LIZS · 10/12/2005 11:55

Do you mean they say they are saying they can't accept a lower offer because they wouldn 't then be able to afford to move themselves ?

GoodKingWestCountryLass · 10/12/2005 15:15

You know me, you can but ask, got nothing to lose....

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 16:40

I think so Liz yes. Although when we originally viewed it they told us they were considering renting out the property in order that the move could go through. How they could do that when they are obviously so reliant on the sale of this property I don't know! They have, apparently, been and asked higher up the chain for a lower price. Although the phone call saying they would do this came at 5pm last night, and the phone call saying they can't came at 11 am this morning.

Basically when we originally started looking for houses, we intended not to pay stamp duty by buying a house less than 120k. However, thats just not been possible. The house we like is on at 135k the people have to have a buyer within the next week or the chain will fall through. Our top offer is 130k. They have come back and said they can't do it for any less than 132k. So my last ditch attempt could be to say for them to leave the oven and the washing machine (two things we would have to buy) and if they were able to pay our stamp duty. Although for the meantime I just intend to sit tight, and maybe suggest this on like weds.

OP posts:
followthestarlover · 10/12/2005 21:00

so you will pay the £132k asking price... and they will pay your stamp duty and leave the appliances?

I dont think they will...stamp duty is 10% isn't it? so how will they benefit? if they don't benefit they won't say yes!

although i guess it's always worth a try!

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:01

Have come to the same conclusion actually SL! Hope they can't sense the air of desperation about me....

OP posts:
HunkerXmasAndAMunkerNewYear · 10/12/2005 21:02

Can you leave it until the so-called deadline for their chain to fall apart has passed?

noddyholder · 10/12/2005 21:05

stamp duty is 1% from 120-250,000 and then goes up to 3% so they may take it on That would mean 1320 plus the cost of the appliances which is about what you wanted.There is nothing in it for them they will still get about 130,000 that way which they say isn't enough but if they are desperate they may consider 131000 Worth a try!Good luck we are selling atm v quiet here in Brighton

followthestarlover · 10/12/2005 21:06

ahh floss... this house-buying lark is a bit crap isn't it? we're stuck atm trying to find lenders who aren't charging fees and higher lending charges and stuff!

and taking on extra work to make it look like we earn more!

followthestarlover · 10/12/2005 21:07

oops yes, sorry meant 1%

10% would be rather steep wouldn't it? lol

noddyholder · 10/12/2005 21:09

northern rock are very good if you are exaggerating the figures slightly Well it worked for us!They virtually gave us what we wanted with very few questions

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:09

It's really quiet down there too. I would be shocked if they found anyone else in the time limit. No, 130k is our limit. DP won't let me go any higher. Told me earlier he would refuse to sign the paperwork if I did another offer (he's tired and grumpy on nights) . I'd get really far on my part time job alone, wouldn't I?

OP posts:
followthestarlover · 10/12/2005 21:11

yeah we have a vague quote from northern rock, but not on actual figures (dp had to guess as he was at work when he spoke to them)

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:26

Hmm, trying to look at NR again as would be nice to avoid costs...

OP posts:
noddyholder · 10/12/2005 21:28

NR give you back 1000 to help with costs once you have completed.They also do a cash back mortgae so you could do it somehow

followthestarlover · 10/12/2005 21:29

ooh yes i saw that on moneysupermarket NH!
my mum said she had heard bad stuff about them.. but then i think you get that with anywhere really.

who are you going with flossam?

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:30

Not one for avoiding the handling fees, but HSBC. I'm a recent graduate, so can get a 100% homestart mortgage, which is interest only for the first 3 years.

OP posts:
followthestarlover · 10/12/2005 21:33

ahh ok, dp banks with HSBC and we'd considered them but not actually had a proper chat with them yet...

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:35

They offered us a ridiculous amount the first time we 'chatted', so don't get carried away with what they tell you.

OP posts:
followthestarlover · 10/12/2005 21:37

yes we had similar with nationwide! lol

the stupid thing is that we can prove that we can easily make the repayments... but according to their "affordability test" we can't! despite having bank statements which say the opposite.

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:40

Oh, no we had the opposite problem. Offering us too much. So might be good for you to see what they say. I did it online and arranged for them to call.

OP posts:
GoodKingWestCountryLass · 10/12/2005 21:44

I can't understand why they haven't accepted your most recent offer, they have a lot to lose, if their chain falls through they will have costs amounting to more than what you are asking them to compromise on??????

Anyway some more food for thought maybe:

www.rightmove.co.uk/viewdetails-9436433.rsp?pa_n=11&tr_t=buy www.rightmove.co.uk/viewdetails-4977934.rsp?pa_n=1&tr_t=buy

LOL!

Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:48

You think it will cost them that much WCL? Well then perhaps they really are just trying to milk us for more cash. The ones you've shown me are lovely, neat and tidy. But they aren't 3 beds and they aren't that one. God if things were to work out and we moved in (highly unlikely now but hey) I'd be like, this is what I wanted?!!

OP posts:
Original poster
OnTheFlossDayOfChristmas · 10/12/2005 21:49

Thank you for looking though, I really appreciate it. The one in St george was especially lovely.

OP posts:
GoodKingWestCountryLass · 10/12/2005 22:07

Well whatever they have spent on searches and surveys, plus the solicitors fees for the hours they have put in on the house purchase they are trying to make, plus you said they were part way through a sale before so the costs incurred up until the other buyers backed out. Then there's any additional costs if they don't complete and lose the house they want to buy, cost of additional surveys/searches etc. It all adds up and I would expect it to be around/over £1500 already.