Re: Help - First time buyer
I have no idea on leases I'm afraid
BUT I have a great deal of sympathy with anyone who is a first time buyer as it seems that in order to get on the property ladder its very hard now.
In order to get a decent mortgage rate my son/partner need to find a 20% deposit and whilst they are renting they have very little income that they an put to savings.
I have encouraged them to look at ISA tools etc for efficient savings and I guess the Bank of Mum & Dad will get called in to help but rents are so high for people who have to go with private rents because there is so little social housing about now
---------- Post added at 10:50 ---------- Previous post was at 10:48 ----------
One thing that should be happening for you is that your Solicitor should be helping you with any pressure / demands that you need to deal with.
Solicitor should be able to explain lease legalities.
Re: Help - First time buyer
Barclays have a new Mortgage product which sounds quite good. im going to get the details for it to look at.
Its 100% Mortgage and its called a Family Booster or something. Basically you get a 100% mortgage @ 2.99% as long as you have family who will lock in 10% of the Mortgage in a savings account with Barclays for 3 years @ 2% interest. It's only unlocked after 3 years or to pay any arrears that are defaulted on by the Mortgageee's. All the equity is with the Mortgage payers.
FYI
Re: Help - First time buyer
I think the Estate Agent was just trying to push the sale & pressurise you unnecessarily. He would say that there are other people interested!
An Estate Agent once tried to chivvy me up but when I reacted - he backed off & blamed the seller (which I subsequently discovered was untrue!).
Re: Help - First time buyer
Yes as Lucinda says, it can be a bit of gamesmanship by the EA
Hope things go well for you