My First House

By Ken Shipman, of Shipmans estate agency.

KEN_SHIPMAN cutIn 1973 I decided to buy my first property, having recently moved back from working in London for about 6 years. I thought the pleasure of looking out on open fields in the evening after work was a much better idea than sitting in a tube train to then getting on a bus to finally arrive back at a very dingy house I shared in North London with too many other people.  Spixworth, Norwich was the chosen area. Then the village was about a quarter of the size it is now.

I found a nice fairly modern semi detached bungalow with a garage, 1 power point per room except the kitchen that had 2 power points and a cooker point. Heating was a coal fire in the lounge with a back boiler which heated the hot water and one radiator. No double glazing or insulation. But it could be home.

The bank of Mum and Dad is not a new invention it has been around for a long time and a loan was applied for and granted, not sure though it ever was paid back! I remember very well asking for my first mortgage, I went to see the building society manager in Norwich and put on my best clothes to impress him he asked a few questions and then he just smiled and said yes I will grant the mortgage.

About a month later I was the proud owner of my home. A lodger was found to help pay the bills and then I set about decorating it to my favourite colours. The choice of colours which were fashionably strong in those days will remain my secret. How is it different now? Well, the choice of property is far greater, the building society, sorry “mortgage lender” will insist on many more questions being asked and it will probably take a little longer to go through. But if you are thinking about buying a property, seek professional help from a mortgage advisor and you may well be surprised even in today’s financial climate how much you can borrow. And then you like so many other home owners will be able to shout from the roof top “its mine!”

Ken’s on 01603 765858.

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