AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
|
Well after speaking to the mortgage advisor, it's very good news and I have a mortgage promise for just over £88k on 75%/25% shared ownership.
So with that I went out looking for places, went to a bovis homes development and saw a 2 bed apartment and a 2 bed house. Apartment worked out at 5k cheaper, and was a bit bigger space wise, but the 2 bed house was 5k more and came with a carport as well as a parking space. I'm swaying towards having the house, but got a few things on my mind I want to ask my mortgage advisor.
Only thing I'm a bit worried about is finding money for solicitors/survey.
[Edited on 19-10-2009 by AlunJ]
|
N16K
Member
Registered: 4th Oct 04
Location: Belfast, NI Drives: Corsa D SRi, Tuned Cooper S, B
User status: Offline
|
Does the apartment have a monthly/yearly standing charge. House better option imo.
|
AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
|
I'm not 100% whether there is like a maintenance charge, but i'm going to look into that tomorow. You have to start paying back the 25% after 5years however or sell it after 10 maximum. Admitted the repayments for that were quite expensive. The way I look at that though is maybe sell up and put the money towards somewhere else.
|
Dione J
Member
Registered: 22nd Sep 04
Location: West Midlands Drives: Leon Cupra Turbo
User status: Offline
|
Cheap aint the word - 45K is immense, cant even get a 1 bed flat for that around here!!! 
|
AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
|
went to mortgage advisor today, we found out that the maintenance charge was astronmical and works out over 5years about the same as buying the house. Got some legal quotes, just need to find a bit of money to get the ball rolling. Advisor has been quite cheeky and said to bovis give us some incentive to go for it, asked them to consider carpet and 5% off asking. They have to take it to head office/sales or whatever before they will answer though.
|
