Buying a house - first steps

Trying to get a RICS valuation on my place and I might as well be looking for the holy grail. Every place I’ve contacted say “they don’t do residential” when the RICS website said they do, they’ve completely ignored my email or what I put in the contact form or they’ve taken all my details and then emailed to say “oh yeah, we don’t do that, sorry.” Fed up already with this bullshit.

Who has asked for an RICS valuation? Mortgage companies should arrange their own if you’re remortgaging.

I’m shared ownership, so my housing association said I’ve got to sort it for me selling my flat.

What a scam.

Tell me about it. Found 2 more places, giving them a try.

Anyone bought a place with a friend before? Or a family member I guess, just somewhere you’re going to be sharing with someone that isn’t your partner

I have a friend who did this, went halves with a mate buying a shared-ownership flat in Hackney. Within about 18 months they them met someone and wanted to go move in with them… it all got very messy, though I assume it sorted itself out in the end.

I guess you just have to have a very clear exit plan in place?

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I think you would need to have clear agreements in place about what happens when someone wants out - what you don’t want is someone wanting out, someone else wanting to stay but not being able to afford to buy the other out so dragging their feet to delay things


^this. And also whether you buy someone out of their original investment, or buy them out of their share, as it can get very difficult if your property increases significantly in value.

My sister bought a flat with a friend. I’m pretty sure they split everything very clearly 50/50. They shared for about five years I think, then sold up and my sister moved in with her partner

Yes I own with a friend. 50/50. We’ve got a deeds of trust.

Just did a rate switch, and in doing so avoided a remortgage and the ungodly amount of faff it would bring. The rate is slightly worse but much better than any equivalent mortgage products, plus it only works out as £20 more a month for three years when we’ll do this whole horrible dance again. Also turns out the value has gone up, but not enough to materially change our LTV and given I really don’t want to have to move again for a very long time it doesn’t really affect us. But in summary, rate switch = very little faff.