We caught up with Moneybox home-buyers to find out how they found the home-buying experience, what they love about their new home, and why they chose Moneybox.
Hannah, Darren, and Angus 👨👩👦🌳
Hannah, partner Darren, and baby Angus packed up their life in Liverpool to move closer to their family back home in Middlesbrough – with a few hiccups along the way! We caught up with Hannah to look back on their journey.
We weren’t sure we’d ever buy
“We preferred to spend our money on holidays! But, the pandemic helped us save and we decided to go for it. We had a Cash Lifetime ISA each and both maxed them out for two consecutive years, so we had £20k saved including £4k from the government bonus. When we saw that Moneybox offered a free mortgage advice service, we thought ‘Why not?’ Moneybox was very supportive from the get-go. They were always on hand to help or give us an update and no question was too stupid.”
It has a lovely garden with lots of trees for our son to run around in
“Although we trained and worked in Liverpool, we always knew we wanted to buy back home in Middlesbrough to be near family and friends.
We knew that we wanted a house with lots of character and a big garden, and we didn’t want a new build. We bought a 1930s house with lots of original features and a lovely garden with lots of trees for our son to run around in.
It’s near our loved ones – our families are nearby and my bestie lives two streets away with her daughter. Plus, it’s quite central, is near good schools, and has lots of greenery.”
We didn’t expect inflation and interest rates to rise so much!
“They went up while we were buying but, luckily, we were able to secure a five-year fixed interest rate deal before things went up too much.
There were a few hiccups – our house was in probate so it took more than eight months to close and our mortgage offer was set to expire, but Moneybox were able to speak to the bank and get our offer extended. We also had to negotiate the price with the seller after our survey revealed the house would need lots of work – they actually put it back on the market for a few days! But, it all worked out in the end.”
💡 Probate is when someone passes away and their house has to be transferred to whoever it’s been left to, before it can be sold. The house could be put on the market as soon as they passed away, so a person could agree to buy it, but the transaction couldn’t complete until probate was granted.
Bethan and Kathy 🚴♀️🌼
Kathy sold her flat so that she and partner Bethan could put down roots in their first home together. Read how they found the perfect balance of country and city living with their Bristol home.
We were lucky to have a small chain
Kathy: “Between putting my flat on the market and moving in, it only took three months! We got pretty lucky as we had a small chain with cash buyers for my old flat and renters in our new place.
“We were originally going to use another provider, which I had used for the purchase of my previous home, but they made getting a Mortgage in Principle quite difficult and were fussy about Bethan’s job being ‘technically’ contracted. I’m a creature of habit, but Bethan suggested we do some research at other providers.”
A different provider gave us bad advice – and it was really expensive!
Bethan: “We had quotes from a few providers and even paid for a consultation with an advisor, which we didn’t rate at all. It was really expensive and they gave us bad advice. The customer support from Moneybox Mortgages appealed to us and it was a lot easier to get a Mortgage in Principle with them.”
Kathy: “We were matched with a case manager and broker, who explained every step really clearly. Even though I’ve been through the process already, so much has changed since I bought five years ago. I loved that the case manager checked in every week. I have some friends that are selling and say they have to constantly harass their providers to get an update.”
We didn’t have to compromise at all
Bethan: “This house ticked the most boxes out of all the ones we viewed. It was a nice blank space for us to make our own. It also has a conservatory which we weren’t really fussed about, but I’ve been surprised by how much I love it. It’s such a great space, I probably spend the most time in that room.”
Kathy: “The house is right by a cycle track and close to the countryside, but still in commutable distance to town. We both cycle a lot so that’s a big plus. Being a same-sex couple, we were a bit unsure how that would be received in the local area but so far everyone in our cul-de-sac has been so friendly.
We love being able to put up artwork wherever we want, making a home together, the friendly neighbours, and watching the garden grow. It feels as though we’ve been moving around a lot throughout our 20s, so it’s really lovely to put down roots. I feel more grounded.”
Important to know
A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Moneybox Mortgages is provided by Moneybox Mortgages Ltd.