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Original poster

seen 'the' dream house. would we be able to afford it or would mortgage broker laugh in our faces??

102 replies

belcantavinissima · 29/07/2008 17:10

i love it so much. it is destined to be ours. i want it. nay, i need it. it is £370,000 (could poss get it for 350,000 [hopeful emoticon]). dh earns £50,000, we have approx £80,000 equity in ours to use as a deposit. would it be do-able do you think esp in current mortgage-lending climate??? i think as market is a bit weird may be a great opportunity (itsa perfect 6 bedroom house btw and just what we need)

OP posts:
filthymindedvixen · 29/07/2008 17:34

Vendor's comment: ''This house even looks amazing when the children have ran riot ''

aaaaggggghhhh. My inner pedant is saying : ''And I'll have £50,000 off the asking price because you are grammatically incorrect!''

Original poster
belcantavinissima · 29/07/2008 17:34

i have lovely things too . they will come with me

OP posts:
ahundredtimes · 29/07/2008 17:34

Yes, there is parking in the courtyard. [read agents details emoticon]

It is lovely, and you should want it. But DON'T buy their interior decor and white furnishings remember.

TwoWashTutter · 29/07/2008 17:35

yes i did lol at vendors having a say

Original poster
belcantavinissima · 29/07/2008 17:35

we will need 5 beds as have 3 kids of our own then one more when dss comes to stay/live

OP posts:
ahundredtimes · 29/07/2008 17:35

Charley has never run riot in his life. Guarantee it.

ahundredtimes · 29/07/2008 17:37

Have you seen seen it?

Ooh are you going to make an offer? Do you need to sell yours first?

It's exciting isn't it?

hanaflower · 29/07/2008 17:37

This reply has been deleted

Message withdrawn at poster's request.

TwoWashTutter · 29/07/2008 17:38

you can always use nethouseprices to see what it sold for in the past

ahundredtimes · 29/07/2008 17:38

Ooooh, perhaps you can make a lower offer? They've hiked the price up because of the white furniture perhaps?

Original poster
belcantavinissima · 29/07/2008 17:39

i think the tax band must be a mistake tbh. we would need to sell ours. i have been past it. i have been trying to persuade dh to look at it. he wont so far vas he knows we will have to have it. men can be stupid sometimes

OP posts:
filthymindedvixen · 29/07/2008 17:39

But he has ran riot [agh]

Those pictures imply little Charley is permanently locked in the wine cellar and not allowed out to actually touch anything. Ever. Their definition of running riot probably means he didn't put his Horrid Henry books back in colour-allignment

(Yes, I am a tiny bit jealous...)

Original poster
belcantavinissima · 29/07/2008 17:41

hanaflower, our house we bought in 2002 for £100,000 and it is now 'worth' £250,000 so i think the increaseis understandable tbh eps as it looks like a lot of work has been done on it (white furniture notwithstanbding)

OP posts:
hana · 29/07/2008 17:42

would you really want a mortgage that big on 50k? consider all other outgoings, it's a lot I think

I def wouldn't!

hanaflower · 29/07/2008 17:43

This reply has been deleted

Message withdrawn at poster's request.

Twiglett · 29/07/2008 17:44

the space looks nice, but the decor is a bit chi-chi isn't it? barf

Looks like a great house

I don't think you can afford it though .. at least NOW is not the time to be over-extending .. do you realise what a 270K mortgage will cost you per month? on a 50K salary it's just not affordable even if you could get the mortgage

also propertysnake hasn't seen great house price falls in your area .. so maybe there's some to come

still I could happily move out of London into that house

filthymindedvixen · 29/07/2008 17:45

''A garden shed currently half used as chicken and duck coup. ''

you want to watch those birds, they are running amok! Maybe that's why the endors are moving! Jemima Puddleduck and Chicken Licken tried to overthrow Charley's parents in the night...that's why the house is so tidy....

oldwomanwholivedinashoe · 29/07/2008 19:35

very nice!

noddyholder · 29/07/2008 19:35

We have just bought price reduced by 26% You are paying too much!!!!!!!!!

noddyholder · 29/07/2008 19:36

325 max if you love it it will be under 300 next year.

eekamoose · 29/07/2008 19:44

OMG can't believe you are contemplating this! I can't see how it is do-able. Sorry to be gloomy. You will have no money for food.

hifi · 29/07/2008 19:45

its lovely, not sure about stepping straight out onto a road though. good luck, i would go in at 300k to be cheeky. under no circumstances let them know you are desperate.

eekamoose · 29/07/2008 19:59

But at £325,000 less £80,000 equity (if belcant gets that, mind) that's still a £245,000 mortgage without taking account of stamp duty and moving costs, no?

£50k salary servicing £245,000 mortgage is 5 times salary.

Its impossible to repay. I'm sorry, but it just is! Unless someone else can come along and prove otherwise to me of course.

We are finding it hard to finance mortgage of just over 2 x salary atm. And our rate is only 5.63%. So I'd be very very interested to see how it can be done [smile}.

eekamoose · 29/07/2008 20:03

[Don't go Twiglett . I hear you had a real home from home at the festival, apparently half of ED was there, I met up with someone in the park today who told me all about it!].

HonoriaGlossop · 29/07/2008 20:46

thing is though eekamoose if most people now got 2 times salary, they would not get even a flat let alone a house

things have changed in the market, people do not have to pay a larger chunk of their money on mortgage

I mean, someone earning 21k a year would get £42k mortgage mmm, that will buy something!

luckily for us we don't have a mortgage that size but I do know a good few people with £250k ish mortgages