 Can you get out of an oral offer to purchase home? |
| I'll try to make this short. We do not have an agent, seller does have an agent. His contract with his agent expires in 2 months. We orally offered "X", seller accepted, and we ... |
|
 I am a licensed real estate agent. My ex-wife is purchasing a home; I am her agent.? |
| As far as disclosures goes, would you not say anything or just disclose "buyer is related to agent" in the purchase contract?... |
|
 Rental with no security deposit. Left in clean condition, but landlord finicky wants money. What's the redress |
Rental with no security deposit. Left in clean condition, but landlord finicky wants money. What's the redress.
Landlord is saying it is not clean here and clean there. I pressured ... |
|
 Should I sell my home or ask agent to sell it? |
| The 5 % agent commission is quit a lot in which I have to pay $11,000 for a $222,000 home.... |
|
 I am being evicted for no cau.se? |
| My landlord is trying to come into my property. She did give me a 24 hour notice for a day That i won't be here. If I refuse what will happen?... |
|
 How do real estate agents get listings from foreclosures? |
| I work with a real estate agent who gets his listings from law offices and banks. How do you do it?... |
|
| Any tips for cold calling apartment dwellers asking if they're buying a home in the next year? |
| I cold call apartments in the evenings seeking anyone thinking about buying a home in the next year. They generally don't mind the call, I'm not trying to sell them a vacuum or life ... |
|
 There is this piece of land facing a lagoon, I'm thinking of what to build on it? |
| I dont want to build a conventional office, hotel etc the usual stufff.....Any ideas somebody? I want what would be easily fnanced by the B... |
|
 Question about subprime lending.? |
| I have a question for lenders. I keep reading about all of the issues with subprime lending and foreclosures. I hear that it will be harder to get a mortgage and interest rates will be higher for ... |
|
 If a house is bought while single, then one gets married, if house is sold, will spouse be entitled to profit? |
| I purchased a home when I was single, got married, never changed deed over to married name or added spouse to the deed. If the home is sold, does my spouse have legal rights to the proceeds?... |
|
 What's a buyers realtor do for the buyer when the house is being sold without a realtor? |
| We found a house we want to purchase. The house is listed for sale by the owners. The gf is wanting to use a realtor to help with the purchase of the house. what exactly would they do? we are ... |
|
 Is it pointless to put extra money towards mortgage if planning to move in the next year or two? |
| My husband and I are planning to move soon. I say that extra payments at this point are akin to putting money under the mattress. He thinks we will get more than we put in when we sell. We ... |
|
 Just recieved house from a family member that has passed? |
| we recieved a house from a family member, completely paid off. its worth between 200 thou and 250. me and my fiance both have credit issues. my question is that we both would like to have a new ... |
|
 Does a landlord have the right to tell you to "move out" because he doesn't like you asking for repairs? |
| My landlord told me by phone to "not say anything" with the city inspector comes. I assume the city inspector would come alone, not with the landlord when doing the inspection. There are ... |
|
 What is a mortage? |
| I still have a hard time understanding what a mortage is!... |
|
|  |
Caroline | How much mortgage could i get on a salary of £24,500 and what would the monthly payments be? |
Here some details about me for info:-
I finished uni last year with a degree in accounting. I am now earning £24,500 as a trainee accountant and once i become chartered this wll increase. I am a 28 year old single woman and live in my council flat that i have had for the last 6 years. I could buy it but it's only one bed and i couldn't sell it on for another 5 years and as much as i love it i want to buy a house. Im not bothered about following all the other sheep at work and buying some fancy over priced house i can't really afford. There are always ex-council houses coming up for sale on my estate and i should be able to get a 3 bed one to do up for around £100,000 or less, or one that is already done up for a bit more. I really like my estate and am happy to stay here. How much mortgage could i get? |
 |
 
The Tank
|
If you can buy your flat now then do so. Keeping on renting is just dead money because you won't get it back.
You would be lucky these days to get a mortgage much more that 3.5x salary without having huge repayments, and there is not much property around at £75k.
In five years you would have built up some increased equity in the flat and hopefully the property market will have stabilised.
Your salary will have risen significantly in 5 years and so you don't have to take out such a huge mortgage that your're straining your finances.
A lot of people who took out "maximum" mortgages of 4 or 5 x salary are now regretting it. They still have to pay the loan whilst the value of their house is declining; and they have to put up with huge intrest rate, tax and fuel increases. You are in the happy position of not having to do that.
Buy your flat at a good price now, Save like mad now for as long as you can for a deposit, buy your house on terms that you can afford.
5 years is not long and with a typical mortgage you'll be debt free long before you retire. Round about your max earning age I expect. Happy place to be.
There will come a time in 5 years or so when all factors will equalise: (value of flat) + (amount of mortgage that you can get) = (price of house).
Then you buy!
Of course, your personal circumstances may change in the meantime. Then you have to start calculating again. |
|
P'tang Ole Biscuitbarrel
 |
why not buy the flat and get a discount from the council as u have lived there for 6 years...........u can always rent it out at a latter date and buy the house u want when house prices bottom out in a couple of years time..the flat would make a good long term investment |
|
ANDREW M
 |
I really would wait
The bigger your deposit then the better the morgage deal.
Remember house prices are falling and lenders are very jittery at the moment.
I think that there will be some bargains in the future.
At the moment prices are crazy and the market should and will correct itself |
|
mick f
|
all the answers so far are good ---- ur leader sets ur rate and amounts on ur payments ---- remember the more u put down the lower ur rate and payments will be -- which give u a chance to doulbe up or shorten the loan in years |
|
kitkat
|
First and foremost be VERY careful when buying a council property in an estate. You need to find out whether they are scheduling works to the estate while you are living there as you will be asked to pay towards any maintenance work (eg if they were re-roofing the estate block, painting it in any way) and it isn't cheap. When I first started looking and was looking at council properties the thought of being landed with a £20k bill for maintenance works put me right off. |
|
Lenny
|
Well, on a mortgage of £100,000 you'd be paying about £700 a month on a fixed rate repayment. You could do interest only and pay around £570pm - but I wouldn't recommend doing that for too long. |
|
Lynz
 |
this varies.since you are a graduate you can get a morgage like me from Scottish Widows(solely for graduates) I earn £32,000 so not much more than you and got £112,000 for just under £500 a month.This company unlike the bank will give you 103% of house price so ideal if you dont have a deposit and would save you getting a loan to cover that too.
And they give you 4 times your salary |
|
Sal*UK
 |
Realistically about three times your salary but I think this will change over the next few months as the market is changing. I went to the Land Registry yesterday and they have no work - nothing being sold and nothing happening. and house prices are still dropping. I'm on the point of moving and am going to rent for 6/12 months to see what happens. |
|
T C
|
Google 'mortgage calculator' that should work it out for you. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 36 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 6 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 11 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
8 | 6 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
9 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
