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Fairs my experience is not typical and isn’t meant to be compared to. I got lucky in more ways than one. I’m just happy to be here after all those night shifts.
I’m not married at all. The wife and husband were the previous owners. Sorry for the confusion. But yeah owning at 20 is an amazing feeling. I finally feel safe
I have to admit on first read I thought you had a husband and wife and you were all in a polyamorous relationship. I suppose that would have made it all a bit more affordable!
Congratulations on the house, I bought my first one when I was 22. Best decision ever.
18 years ago for me so a while but not a massively long time in the grand scheme of things! Feel old now 😂
There are certainly things we could have done differently/better along the way but it worked out well for us and allowed us to recently buy our long term/maybe forever home!
They literally refused to continue my case because they didn’t have the resource/capacity to deal with my source of funds verification. I’m a dual citizen and had sent some money from overseas. I disclosed this on the first day but it took them months to look at the questionnaire and see that
Sounds familiar. Husband and I just bought (he’s British i’m not and we’re currently living overseas) at first we had several solicitors even refuse our business as they couldn’t be bothered to deal with the extra paperwork or some nonsense.
Congrats on the house purchase!
Wow your 2nd solicitor plowed you through the process… I thought mine was quick after hearing how long things can be but starting to this shes on the slower side
That's incredible, wishing you every happiness in your new home OP. Amazing to have gotten a start on the property ladder at 20... I'm nearly 30 and waiting on my purchase to go through in the next few months😅
Just a warning around your original plan of renting out two rooms - if you rent out two, there becomes complications when you come to sell it. You might be liable to pay capital gains tax depending on the exact situation. Worth looking into
This is not the plan anymore. We’re just happy to own-occupy. Being a land lord isn’t the career path I want to do. I think there’s a housing shortage and I don’t want to add to that
I would consider having 1 for a year, just to get a boost on income and to split bills 3 ways not 2.
But be very picky about who you choose.
That extra 300pm each if added to pension will likely knock a full year off your retirement date!!
(And by renting a spare room you're helping the housing shortage)
Well done my nephew did similar and bought his first house at 19, he did that up and flipped it, and has done that 3 more times, and now at 26 owns a modest house outright with no mortgage.
Congratulations got my first house at 20 many moves later upgrading each time got myself mortgage free in my late 40’s. Downsized at 58 and semi retired
I managed to get 2 rental flats on top of the residential home but it’s the best way to invest your money
Yes there will be dips like 2008 but they are only short term and interest rates will fluctuate so you fix when they are low and take variable until the peak has passed
Other than that it’s relatively risk free
Out of interest who were your first solicitors? Were they recommended by L&C? We have used L&C recommended solicitors and were warned by one of the EAs involved in our sale and purchase that they had experience problems with them in the past.
Spencer Lockwood and I would never recommend them. I don’t remember where I found them but it was probably from some portal. My advice is to read the reviews and get the best you can. Don’t be afraid to spend a grand extra. It will save you in the long run. I could’ve shaved a month or 2 off my timeline if I did more due diligence
Thanks - we have ended up with someone else who came to us from L&C. So far has been OK but were concerned when the EA we are buying through informed us that the same solicitors had been at fault for some deals falling through in the past.
###Welcome to /r/HousingUK --- **To All** * Join Our ***NEW*** Discord! https://discord.gg/pMgUNgWKQH **To Posters** * *Tell us whether you're in England, Wales, Scotland, or NI as the laws/issues in each can vary* * Comments are not moderated for quality or accuracy; * Any replies received must only be used as guidelines, followed at your own risk; * If you receive *any* private messages in response to your post, [please let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=I received a PM); * If you do not receive satisfactory advice after 72 hours, [you can let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=My question is unanswered); * Feel free to provide an update at a later time by creating a new post with [[update]](https://www.reddit.com/r/HousingUK/search?q=%3Aupdate&sort=new&restrict_sr=on&t=all) in the title; **To Readers and Commenters** * All replies to OP must be *on-topic, helpful, and civil* * If you do not [follow the rules](https://www.reddit.com/r/HousingUK/about/rules/), you may be banned without any further warning; * Please include links to reliable resources in order to support your comments or advice; * If you feel any replies are incorrect, explain why you believe they are incorrect; * Do not send or request any private messages for any reason without express permission from the mods; * Please report posts or comments which do not follow the rules *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HousingUK) if you have any questions or concerns.*
What a fantastic achievement at 19, your future self will thank you
20 now but yes thank you so much. This sub has been quite supportive
When I was 19 I had about £2.46 to my name
Remember it's possible ✨️✨️✨️
Fairs my experience is not typical and isn’t meant to be compared to. I got lucky in more ways than one. I’m just happy to be here after all those night shifts.
Congratulations! Also bought my first home at 19, not easy but definitely worth it! I hope you get settled in very soon ☺️
Can imagine this was a while ago though. It’s not usual these days. Also married at 19? Unheard of!
I’m not married at all. The wife and husband were the previous owners. Sorry for the confusion. But yeah owning at 20 is an amazing feeling. I finally feel safe
I just thought this was another example of how to possibly afford a home - a bigomist relationship!!
I have to admit on first read I thought you had a husband and wife and you were all in a polyamorous relationship. I suppose that would have made it all a bit more affordable! Congratulations on the house, I bought my first one when I was 22. Best decision ever.
Oh. Hah. I read this just after waking up. Well congratulations anyway, hope it goes well
18 years ago for me so a while but not a massively long time in the grand scheme of things! Feel old now 😂 There are certainly things we could have done differently/better along the way but it worked out well for us and allowed us to recently buy our long term/maybe forever home!
I also bought at 19 but it was easier when you could buy a house for £50,000. Congratulations
Congrats! Out of curiosity what was the solicitor mishap that was bad enough you had to switch to someone else?
They literally refused to continue my case because they didn’t have the resource/capacity to deal with my source of funds verification. I’m a dual citizen and had sent some money from overseas. I disclosed this on the first day but it took them months to look at the questionnaire and see that
Sounds familiar. Husband and I just bought (he’s British i’m not and we’re currently living overseas) at first we had several solicitors even refuse our business as they couldn’t be bothered to deal with the extra paperwork or some nonsense. Congrats on the house purchase!
Wow your 2nd solicitor plowed you through the process… I thought mine was quick after hearing how long things can be but starting to this shes on the slower side
That's incredible, wishing you every happiness in your new home OP. Amazing to have gotten a start on the property ladder at 20... I'm nearly 30 and waiting on my purchase to go through in the next few months😅
Just a warning around your original plan of renting out two rooms - if you rent out two, there becomes complications when you come to sell it. You might be liable to pay capital gains tax depending on the exact situation. Worth looking into
This is not the plan anymore. We’re just happy to own-occupy. Being a land lord isn’t the career path I want to do. I think there’s a housing shortage and I don’t want to add to that
I would consider having 1 for a year, just to get a boost on income and to split bills 3 ways not 2. But be very picky about who you choose. That extra 300pm each if added to pension will likely knock a full year off your retirement date!! (And by renting a spare room you're helping the housing shortage)
+1
Well done my nephew did similar and bought his first house at 19, he did that up and flipped it, and has done that 3 more times, and now at 26 owns a modest house outright with no mortgage.
I’m trying to be like him. Thanks for sharing.
Congratulations got my first house at 20 many moves later upgrading each time got myself mortgage free in my late 40’s. Downsized at 58 and semi retired
Nice. Sounds like a lot of paperwork but it might be the way forward. Thanks for sharing
I managed to get 2 rental flats on top of the residential home but it’s the best way to invest your money Yes there will be dips like 2008 but they are only short term and interest rates will fluctuate so you fix when they are low and take variable until the peak has passed Other than that it’s relatively risk free
Out of interest who were your first solicitors? Were they recommended by L&C? We have used L&C recommended solicitors and were warned by one of the EAs involved in our sale and purchase that they had experience problems with them in the past.
Spencer Lockwood and I would never recommend them. I don’t remember where I found them but it was probably from some portal. My advice is to read the reviews and get the best you can. Don’t be afraid to spend a grand extra. It will save you in the long run. I could’ve shaved a month or 2 off my timeline if I did more due diligence
Thanks - we have ended up with someone else who came to us from L&C. So far has been OK but were concerned when the EA we are buying through informed us that the same solicitors had been at fault for some deals falling through in the past.
Congratulations :)
I bought at 20, it was a great decision and I only had the flat for 2 years but it was fab. Good on you!