occipital
mirin the joindate
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- Mar 3, 2026
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genuinely what was the point in this threadbuying a house seems pretty complicated but its actually pretty easy.
so in this thread yeah im gonna help you buy your first house
ill link websites as well which help u calculate shit
this is prob shit i tried my best tho twin
WHAT YOU’RE REALLY BUYING
when you buy a house your doing 4 things
getting a loan or mortgage from a bank
the property's owner ship rights being transferred to you
and a risk assessment you and the property
basically your getting told by some faggot that you put yourself into long term debt to own a property
BUDGET
this is the easiest part imo but some people dumb
most buyers normally offer you 4-4.5 times your annual income rate. (if your rich this can be higher)
However you should make also take into consideration your personal spendings such as vip on org.
you can use these two websites to help you
the mistake some niggas make is just look at what was said above and not actually look at these other important factors :
changes in interest rates
maintenence costs
insurance
council tax
emergency's
so my rule is if you feel like the mortgage is right on paper don't fucking buy it
THE DEPOSIT
in the uk the standard deposit rates are
5% - starting point kind of bad imo cause they normally have high interest and the lenders be strict asf also the minimum rate
10% - best place to start of and a pretty big drop of in mortgage interest rates
15%-20% - best for the buyer shit for lender
so for example
a house costing 250 grand
5% - £12,500
10% - £25,000
20% - £50,000
once again don't forget the extra costs such as your solicitor ,surveys ,mortgage fees and some times stamp duty
link for stamp duty
Stamp Duty Land Tax
You pay Stamp Duty Land Tax (SDLT) when you buy houses, flats and other land and buildings over a certain price in the UK.www.gov.uk
CREDIT SCORE
So this is the most important part
banks basically want you to have a stable income, low debt usage and consistent payments also a long term credit history is good
so what damages your credit score?
missing payments, constant overdraft usage, maxing out your credit card and a few more
if you have a history of doing this its gonna be hard to get a loan
now, what improves your credit score?
paying everything on time, keeping utilisation low
I would recommend fixing your bad credit score or improving it 3-6 months before applying for a loan
STEP BY STEP PROCCESS - takes up to 2-6 months
1 - u want to budget, save your deposit and fix creit also try to get an AIP or and agreement in principle
2 - now just look at the area of the property you are interesting. examples include : commute times, crime rates ( @AgentAngularity ) also if u are planning to or have a family look at schools and catchment areas for highschools
3 - Now use whatever property finder website like zoopla or Rightmove. i would recommend you have a list of quirks you want from the property next to you so you can easily tick of quality's
4 - Now making the offer this is th most important part always ask 5-15 percent above what you want this can be negotiated lower to a higher price than you actually wanted
5 - for your mortgage application get your broker to summit the documents such as payslips and bank statements and then the lender evaluates
6 - now you solicitor handles searches and surveys to get a good homebuyer report or building survey ( only for old building imo)
7 - now u pay the deposit anything over 10% is good like i mentioned
8 - you've got your house/apartment now
YAYY u did it
Extra shit
use a whole of market broker cause they normally free
Pls build a spread sheet or smthn to track ur budget or things to do
dont rush it takes time icl
mirin the effort tho i guess
