Money

R

Robder

Active Member
Moving is the most expensive thing you can possibly do:

Solicitors x 2 - £2500
Mortgage broker - £500
Deposit - £35,000
That's just for starters!

...skint Robder.

My financial buffer didn't stretch nearly as far as I thought it would and I've got £200 to last a whole month - on the 1st Feb. :lol:

I'm not wallowing in self pity because at the end of the day I've got a gorgeous London pad all to myself...but it may mean one thing...

(An Ibiza cancellation.)

Pulling in the purse strings now could mean the difference between a skint year full of struggles and a comfortable one where I'm able to go out like normal people.

:x :cry:
 
It's not easy is it Rob?

Thats what happened to me last year but this year (even though i'm seriously in the red) i'm determined to have my fun :lol:

You aren't a first time buyer are you, so i don't need to remind you that when you are in your new pad it'll instantly all seem worthwhile ;)
 
Don't solicitors inlude that in their fees? If not I'm seriously f*cked!

But at this stage all I can do is :lol:
 
stuie said:
It's not easy is it Rob?
Click to expand...

I sense a knowing tone in your voice...no it's not at all Stuie!
I'm beginning to feel really sorry for all the people that think they can afford to move but don't create a big enough financial buffer for themselves. Mine was HUGE but I still underestimated it.

Nope - I'm not a first time buyer unfortunately hense the double solicitors fees. :evil:

How much is stamp duty and can anyone account for any more hidden costs?

(I thought stamp duty had been stopped by the government or something?!?!)
 
Robder said:
I sense a knowing tone in your voice...no it's not at all Stuie!
I'm beginning to feel really sorry for all the people that think they can afford to move but don't create a big enough financial buffer for themselves. Mine was HUGE but I still underestimated it.

Nope - I'm not a first time buyer unfortunately hense the double solicitors fees. :evil:

How much is stamp duty and can anyone account for any more hidden costs?

(I thought stamp duty had been stopped by the government or something?!?!)
Click to expand...

Use the calculator here:

http://www.thisismoney.co.uk/stampduty

How much was your place Rob?* Can't believe it was less than £120K which is the threshold where stamp duty applies.

*No worries if you'd rather not say...
 
Just checked what I thought was the case and it is. If your property is between £120K and £250K you're looking at 1%.
 
Stamp duty would normally be shown somewhere on the solicitors invoice.

I bought some shares in a company last year and was even charged stamp duty on that. The solicitor failed to tell me this until i received a bill from them :roll: :evil:
 
Robder said:
I sense a knowing tone in your voice...no it's not at all Stuie!
I'm beginning to feel really sorry for all the people that think they can afford to move but don't create a big enough financial buffer for themselves. Mine was HUGE but I still underestimated it.
Click to expand...

I knew it would be a struggle and a major risk but you've got to take risks sometimes haven't you. Now the house is nearly complete I'm starting to realise that taking the chance and being short of cash is going to pay off - so long as there is no big crash in the market :lol:
 
is your pad lease or freehold.

if its a lease remember you'll need to pay your first installment of ground rent/service charge, mine has to be paid quarterly.

so add on a 1/4 of your annual service charge/ground rent as well mate!!8O hopefully this will be included in your solic. fees
 
grego said:
is your pad lease or freehold.

if its a lease remember you'll need to pay your first installment of ground rent/service charge, mine has to be paid quarterly.

so add on a 1/4 of your annual service charge/ground rent as well mate!!8O hopefully this will be included in your solic. fees
Click to expand...

True, there is that too as well as buildings insurance unless that's included in the service charge.

Sorry Rob :?
 
Thanks guys - no none of these things are a shock actually...well, except the stamp duty that I've completely overlooked!!!
Eeeek - that's another £1300. 8O

Bye bye Ibiza. :roll: :lol:
 
Robder said:
Thanks guys - no none of these things are a shock actually...well, except the stamp duty that I've completely overlooked!!!
Eeeek - that's another £1300. 8O

Bye bye Ibiza. :roll: :lol:
Click to expand...

(do you want to come and stay in the 4th bed of our playa sol apartment which we're not using, then you could just get a flight for £80 and only go to a few noches....? )
 
Robder said:
Ummm - now let me think about that one for a second...

Errr - YES.
Click to expand...

hmmm...:D :D :D :D :D :D :D :D

it would be fun wouldn't it... 8)

seriously? we'd have to sneak you into the hotel...
 
I can't really think about any of this before the move because money is flying in all directions but it would be quite amusing.

Let's forget it was mentioned for five minutes (unless the n___ c___ opens prematurely)

I've stayed at Playa Sol before - no sneaking required - easy peasy!
 
I can't really think about any of this before the move because money is flying in all directions but it would be quite amusing.

Let's forget it was mentioned for five minutes (unless the n___ c___ opens prematurely)

I've stayed at Playa Sol before - no sneaking required - easy peasy!
 
Robder said:
I can't really think about any of this before the move because money is flying in all directions but it would be quite amusing.

Let's forget it was mentioned for five minutes (unless the n___ c___ opens prematurely)

I've stayed at Playa Sol before - no sneaking required - easy peasy!
Click to expand...

I won't mention it again ;)
 
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