Can I have some advice for ftb DD please

[senua]

DD and her DP are looking to buy their first house. I am aware that they will being spending shedloads of money on surveys, conveyancing, insurance etc etc etc.
Is there something clever they can do about Tesco points or airmiles or cashback or summat? Do you have any savvy ideas on making the most of all this cash outflow.

Insurance through top cash back

Don't use the mortgage broker recommended by the EA. They get to know too much and what your top amount you can borrow and seeing a work colleague get 'done' by an EA pushing up their offer and using their knowledge of the max loan amount I would steer well clear of that. Yes I appreciate a good agent will want to protect clients from random viewings so will want to know you have a mortgage in principle but that should be it in the early stages.

As for spending much of the big expenditure is done by bank transfer so you won't be putting it on credit cards to build up points. Often insurance companies etc will charge an extra amount if you use a credit card so you don't save money. It really isn't what they should be focusing on really, they should be looking at the searches that come back, reading all the fine details and however good their solicitor is make sure they read everything and if they don't understand it ask questions.

Good luck!

Shop around for everything. A surveyor needs to be local, but ask questions about what won't be in the survey - otherwise it can come back with a list of recommendations for more surveys.

Solicitors can be anywhere. Avoid supercheap bodyshops who can't do the work for the price, and expensive high street dinosaurs who do you a favour by answering the phone. There is a middle ground.

Insurance comes up every year so get used to it and budget for it.

Many mortgages will bundle in a free survey - Barclays are doing it at the moment for many of their products

Use a broker like London and Country who don't charge a fee for find you a mortgage. In fact, run like the wind away from any broker who wants to charge you a fee

Yup. Biggest pain we had was the buyers solicitor, lost somewhere in a phone network, no communication with us or the buyers, much angst and frantic packing all round!
Our solicitor (and estate agent) were fab, really communicative, and reasonably priced.

Good luck to your DD!

Don't be too polite to tell your other half if you don't a-million-percent LOVE the house, even if it ticks all the boxes and you can't think of anything actually wrong with it, or if everyone else who's seen (pictures of) it loves it. Remember, you're going to have to live there. DH and I nearly got caught this way on our first purchase but we got gazumped - and only found out afterwards that we were both relieved it wasn't going through. We have since only bought homes that we were really excited about, and we enjoyed living in each.

Oh and yes to London and Country. They don't charge the buyer, they're very responsive on the phone and email and they give you plenty of information about each step. We've used them twice now and once for a remortgage too.

They have had the lecture about not buying insurance / life assurance / etc through bank or mortgage provider etc.

Mortgage agreed in principle through L&C.

Solicitor (proper SRA, conveyancing-specialist) sorted, at mates rates.

I was thinking of suggesting looking at bank accounts eg Santander (1% cashback on water and council tax, 2% cashback on gas and electricity, 3% cashback on mobile and internet, phone and TV) or Nat West(2% Rewards on selected household bills if paid by direct debit).

Book a survey independently (not through a mortgage lender as they take a cut of the fee). Phone round a few in your area to get the best price.

Queen, it isn't always cheaper to book a separate surveyor
If the bank are already charging you for the valuation, it is often cheaper to 'top it up' to a homebuyers, rather than commissioning a new surveyor.
But always worth comparing...

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