Offer Rejected Today

pizzagirl

backtomum wrote: »

I am tempted too but I've got two kids and live in a rented house which is damp. Would love to get settled somewhere and not have the worries of being at the landlord's mercy! Rent increased to £575 last September - a mortgage is going to cost us £483 over 15 years! It's a no brainer now for me.

But what happens when interest rates go back up? They won't be 1% for very long.

tommy75

2k under that current asking price. A very generous offer and I'm sure they will snap your hand off. Good luck though and I hope it works out for you & your family.

hamblettamaud

i personally would tell the estate agent that if your offer isn't accepted at £88k then you will withdraw it. meanwhile keep looking, then come back later and offer £85k and say that is your final offer and they can accept it or lump it. don't forget you are in the stronger position in this buyers' market.

backtomum

pizzagirl wrote: »

But what happens when interest rates go back up? They won't be 1% for very long.

This is on a 10 year fixed rate over 15 years - I'd never take a tracker as they say the only way now with interest rates is up!

backtomum

hamblettamaud wrote: »

i personally would tell the estate agent that if your offer isn't accepted at £88k then you will withdraw it. meanwhile keep looking, then come back later and offer £85k and say that is your final offer and they can accept it or lump it. don't forget you are in the stronger position in this buyers' market.

This is what we are planning on doing. We aren't going up to the asking price. We have said it is the final offer. Fingers crossed for today. I'll post later.

backtomum

stolt wrote: »

thats exacty the same situation i'm in rent 2 bed bungalow with three kids for £795 a month, £536 for a 5 bed detached house! (i kid you not)

Good luck with your purchase. We sold up April 2006 and have rented ever since. It's been ok but now I'm getting fed up and keep getting anxiety attacks in case landlord (who has a huge portfolio) goes bankrupt and we end up out on our ear! (I'm a bit of a worrier!). I really wanted to wait a bit longer to buy but this has come up and it feels like a good decision! (let's hope - here's me worrying again). :eek:

Thanks to everyone for their kind words of encouragement.

Robert_Sterling_3

... any more news yet?

lil'H

just hold your ground, the house i've brought said no, then came back 3 weeks later asking me to put the offer up, i said no, next day they accepted my origianl offer!

Robert_Sterling_3

Nice one Lil :T

backtomum

The offer has been accepted - we'll have a mortgage of £60k - long way to go but hopefully all will go well! In work so a short post for now.