Jay M1988 Posted June 27, 2017 Share Posted June 27, 2017 Morning all, Me an the gf are looking to buy our first home together. We have our first free meeting with Halifax mortgage advisor Wednesday bit nervous. But weve both good credit so should go okay. We have done the help to buy ISA which by FEB next year we will have 5k each (10k total) for the deposit. We are also getting 20k from our parents to help with the deposit. We are debating whether to get the help to buy mortgage or just the 95% mortgage so any advice on this is appreciated. We have found a TW homes house and site that we both like @ 157k. The area I'm a little vague on his how much can the sales lady offer - extras etc She confirmed the house will not be ready till april next year and contracts aren't exchanged till 6 month before completion. She also advised when putting an early bird deposit down we need £500 but Im unsure whether that would ruin the chance of getting any extras we go for as almost saying we will take it. She mentioned straight away that if we were to put 30k down as deposit that shed inc carpets throughout but that's the basic offer. Wanted to know what everyone else has asked for and actually got and also priorities what's most important to try and get. I saw a fb post while back where it was important to check the small print and ensure the property is freehold and not leasehold.TW sales rep confirmed already it is freehold. Very nervous, scared, happy, excited all wrapped into one haha. Any help or advice is appreciated people. Quote Link to comment Share on other sites More sharing options...
Randy_Baton Posted June 27, 2017 Share Posted June 27, 2017 With new builds you need to check what happens when you find something wrong with the building work. What are TW responsible for and for how long. I'd be tempted to ask them how much for the shell of the house and get your own plumbers/sparkies in to finish it off. Quote Link to comment Share on other sites More sharing options...
Aashenfox Posted June 27, 2017 Share Posted June 27, 2017 New houses aren't worth the cement used to build them these days. Buy an old one, at least you know it will have been built right in the first place. Sorry, not helpful I know, but it's true. 1 Quote Link to comment Share on other sites More sharing options...
Sargara Posted June 27, 2017 Share Posted June 27, 2017 (edited) Also find out how long the site will remain as an in progress building site. My mate bought a new build 5yrs ago and they still havent tarmaced any of the roads because there are houses on the site still being built. Not nice navigating the slalom course of raised ironworks everytime you leave the house. Edited June 27, 2017 by Sargara Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2017 Share Posted June 27, 2017 1. If you can, go for a proper mortgage rather than a HTB one. I suspect it will be cheaper long term paying the extra interest rate rather than paying the rent and then more on top when you sell. 2. Extras: Honestly, probably not a lot. Demand for homes is immense, and you're lucky to get one at all these days. By all means try for appliances etc but I think you'll be lucky. I'd be asking them to paint the walls to my own colours rather than generic magnolia, unless you want that of course. 3. Honestly, I'd rather be buying my own stuff than getting them to chuck any old cheap crap in. Quote Link to comment Share on other sites More sharing options...
Jay M1988 Posted June 27, 2017 Author Share Posted June 27, 2017 Thanks all this is exactly what I'd hoped for, constructive advice. Il keep all this in mind. I'm a QS so work closely with the trades and standards so I know what or how to repair If needed. I will defos check what TW cover you for and how long. Again thankyou, I am set on the new build afraid. Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2017 Share Posted June 27, 2017 You're a QS?! They make my life miserable, so I retract all my previous advice :p Further to my advice about the mortgage type, do go and see your local/preferred IFA and get them to check the figures and small print for you on that before committing either way. Meant to add that to my post originally, sorry. Quote Link to comment Share on other sites More sharing options...
Aashenfox Posted June 27, 2017 Share Posted June 27, 2017 Fair enough, wish you the best of luck, I do like that new house smell of freshly laid carpets. Quote Link to comment Share on other sites More sharing options...
TT350 Posted June 27, 2017 Share Posted June 27, 2017 (edited) Me and the ex looked at TW. The extras they offered were fully carpeted, decorated etc throughout. We were put off by something we learned about TW. I can't remember what. Wainhomes were decent too. Which house are you looking at? They usually give names to them for the purpose of the brochure. Edited June 27, 2017 by TT350 Quote Link to comment Share on other sites More sharing options...
Jay M1988 Posted June 27, 2017 Author Share Posted June 27, 2017 Ekona are you an Architect aka the bain of my life haha, no your advice is well appreciated mate always, knowledge is shared Aashen thank you it is much appreciated I'm the same haha Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2017 Share Posted June 27, 2017 Other side, I'm a contractor Quote Link to comment Share on other sites More sharing options...
TT350 Posted June 27, 2017 Share Posted June 27, 2017 I don't know any Architects as loaded as Daniel. 7 years education for 30k a year. No. Quote Link to comment Share on other sites More sharing options...
Mikevv Posted June 27, 2017 Share Posted June 27, 2017 I looked into buying a "new build" for ages.... kept bouncing between many companies... all have their horror stories. Some use substandard piping... others cut corners on electrics.... some cut corners literally, like the fitment was crap. All I can say is do a LOT of research, and get stuff in writing. Quote Link to comment Share on other sites More sharing options...
Jords Posted June 27, 2017 Share Posted June 27, 2017 The companies have a lot of tricks up their sleeves to get away with murder when selling new houses: Undersized furniture in the show house Factory rejected bathroom suites in bulk (misshapen toilets due to bad casts) Sub standard pipework A lot are also pushing 'tape and fill' all ceilings and walls. Meaning you don't have an inch of plaster in the house. Not a big issue on commercial builds but a bit naff on a newly built house. Garages undersized so can't fit a car in them. Passageways between houses getting smaller and smaller - good luck thinking of a conservatory or extension in future if that's the case. And finally... a new built 'town house', is basically a terraced house but called a different name. And all of the above come from myself owning a property renovation company, and my older brother buying a 280k new built detached house and me having to sort the bugger out when the company messed him around about the countless issues he had. Quote Link to comment Share on other sites More sharing options...
Willsy1980 Posted June 27, 2017 Share Posted June 27, 2017 Be aware of leasehold agreements for huge hikes after 10 years etc, or you will get a mega bill in the future or be unable to sell on. Quote Link to comment Share on other sites More sharing options...
Randy_Baton Posted June 27, 2017 Share Posted June 27, 2017 Also find out how long the site will remain as an in progress building site. My mate bought a new build 5yrs ago and they still havent tarmaced any of the roads because there are houses on the site still being built. Not nice navigating the slalom course of raised ironworks everytime you leave the house. Have you ever visited Jack at royal steering wheels. Some of the unfinished roads on his new build estate have curbs that are probably over a foot above the current road level! Quote Link to comment Share on other sites More sharing options...
Jay M1988 Posted June 27, 2017 Author Share Posted June 27, 2017 All very good points, thankyou. Defos need to measure their garages haha Quote Link to comment Share on other sites More sharing options...
veeg33 Posted June 27, 2017 Share Posted June 27, 2017 Check if there is any other sites around TW. If yes, go check them out and see what they offer. Do your homework and use them when you negotiate with TW. Some might offer to cover stamp duty, free carpets, etc. There are 3 different sites/company when we purchase ours 2 years back, we managed to get stamp duty, basic carpet and basic vinyl. We upgraded the basic carpet & vinyl to premium carpet and tiles. Avoid purchasing washer/dryer, dishwasher, fridge freezer from them, they are at least 40-50% more expensive compared to buying your own. Since you have good amount of deposit, i would say avoid HTB. Also, never use solicitor recommended by TW. Get your own even if they are more expensive. Good luck =) Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2017 Share Posted June 27, 2017 Garage measurement is vital, and not only with current cars: Think 10 years in the future how big a standard Focus or 3er might be then, personally I would never buy a house that didn't have the width on the garage for a car but that's just me. Many people don't care any more because most new builds undersize the door opening sadly. +1 on local solicitor, and I do mean local. It's critical to have someone you can go and shout at when things are held up (and they will be), even if it costs you £500 more it will always be worth it. Always. Quote Link to comment Share on other sites More sharing options...
Aashenfox Posted June 27, 2017 Share Posted June 27, 2017 Ekona are you an Architect aka the bain of my life haha, no your advice is well appreciated mate always, knowledge is shared Aashen thank you it is much appreciated I'm the same haha My wife is an exceptional civil engineer, she has constructed over 100 buildings in Athens. If you have anything specific you want me to ask her, shoot me a pm. I don't know if she'll be able to help, but she has first hand experience of new constructions in England about 10 years ago as well. Quote Link to comment Share on other sites More sharing options...
Jay M1988 Posted June 27, 2017 Author Share Posted June 27, 2017 Ekona I just nabbed a garage drawing from a previous tender Id submitted last month to check dimensions I used to be a QS for TW North east, I'm on the subcontractors side now. 1 Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2017 Share Posted June 27, 2017 Wise man Quote Link to comment Share on other sites More sharing options...
RickyZ Posted June 27, 2017 Share Posted June 27, 2017 Also if you say your deposit will be 30k, try and save an extra 1.4k to make it 20% LTV and you will get a better interest rate on your mortgage 1 Quote Link to comment Share on other sites More sharing options...
marzman Posted June 27, 2017 Share Posted June 27, 2017 Why would you consider getting HTB when you've got enough for a 20% mortgage? I would absolutely be putting the biggest deposit i could into the purchase, and getting it over the shortest number of years possible... i.e. if you can get your mortgage over 20 years rather than 25 then you'll be saving 10's of thousands in the long run. 1 Quote Link to comment Share on other sites More sharing options...
Fodder Posted June 27, 2017 Share Posted June 27, 2017 (edited) Why would you consider getting HTB when you've got enough for a 20% mortgage? I would absolutely be putting the biggest deposit i could into the purchase, and getting it over the shortest number of years possible... i.e. if you can get your mortgage over 20 years rather than 25 then you'll be saving 10's of thousands in the long run. ^^ this Also look at opportunities to over pay, I added 10% to my monthly payment once settled and it knocked a few years off the mortgage. At first you're paying mostly tax but as you chop away the scales tip... over paying comes of the loan amount therefore reduces the tax. Also new builds I'd be wary, as already said construction is done bare minimum and once you've moved in it's a nightmare trying to get them to resolve anything... the site reps don't want to know anymore and refer you to head office... the smiley flirty sales lady turns into a dragon as she's got her commission and F you. I've not bout new however I know plenty of people who have. Edited June 27, 2017 by Fodder Quote Link to comment Share on other sites More sharing options...
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