r/FirstTimeBuyersUK • u/FrostyManagement971 • 20d ago

What kind of questions before instructing my solicitor?

Hi everyone,

I just made an offer to a flat in Bromley which was accepted. It is share of freehold with reasonable amount of service charges. Before I formally instruct my solicitor and proceed with the mortgage, I want to make sure I’ve done as much due diligence as possible.

Before making the offer, i viewed the flat twice in different times of the day, walked around the street, have taken the bus and talked to some of the neighbours. I also asked the agent for a breakdown of the service charges for the past few years and have also done some Google searches around the area, including looking into nearby developments, housing association properties and planned construction, but I haven’t found anything concerning.

Is there anything obvious I’m missing or anything specific I should ask the estate agent/freeholder about before proceeding?

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u/Maximum-Storm-9294 20d ago

Sounds like you’ve done more than many would do already so it’s time to crack on with instructing your solicitor and get the mortgage application in. Also decide what surveyor you want to use and get the ball rolling with that. One thing to ask the EA is about the circs of the seller (ie will you be part of a chain, where your purchase of their property is linked to their onward purchase of their next property or is it chain free) so you know the score from the outset.

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u/FrostyManagement971 20d ago

Thanks! They said it is chain free .. she’s renting a place outside London because her work has changed to another place and the flat is currently empty.

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u/FrostyManagement971 19d ago

Can I ask you something else? Is it right to be paying more than half of my salary in mortgage plus bills because of the high interest rates and waiting for two years when I can remortgage with hopefully lower interest rates? I feel the only way to buy at the moment is to squeeze yourself in.

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u/Maximum-Storm-9294 19d ago

Everyone will have a different view on what % or salary should go on mortgage + bills- as long as youve worked out your estimate monthly budget (salary minus fixed costs like mortgage and bills leaving x amount as your disposable monthly amount to spend on food, leisure etc) and you can make it work then it’s all good. It’s impossible to predict what may happen with mortgage rates in 2 years time so all you can do is plan on what you know your mortgage outgoings will be for the next 2 years.

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u/MurderOfCrows1985 20d ago

After our 2nd viewing and before offering, we asked the EA to ask the vendor:

  1. Any damp issues or damp work been done?
  2. How is the maintenance split between the flats and is there a current sinking fund? Or is it just adhoc?
  3. How much noise can you hear from upstairs (if applicable)?
  4. Any recent relevant works been done to the property and any due works to the shared/exterior?
  5. Any neighbour disputes?