Should we Gazunder???

RedTomato

Seeing as you have learnt about a cut in income since making your offer it seems reasonable to tell the vendors that you unfortunately need to pull out because of this, that you will now need to look at places at least 5% cheaper than your offer. It's up to them then if they want to consider a lower offer or if they re-market. Just do it asap, the closer you get to exchange date, the more people stand to lose out financially.
Given your doubts you'd probably be best to stay out of the market for a while, as in all likliehood, places outside areas beloved of those with city bonuses will be a bit less expensive next year.

dollydiva

Depends on how much you want the house and tbh, you sound lukewarm if you're prepared to risk ticking off the vendor....I'd say give it a go if youre not bothered if they tell you where to get off


Dd

citizen11

undetterred wrote: »

Surely people should be budgetting to buy without child benefit payments.

Why should they budget without child benefit? A couple of hundred pounds is a significant percentage of most peoples post tax income. If you do do any kind of budgeting why would you ignore some of your income?

Limana68

It looks like you have already made your mind up anyway so just do it.

This happened to me a few yrs ago only about 2 days from exchange, I was fuming as you could imagine and felt like I had to go through with it ( I have morals) as I didnt want to let the rest of the chain down.

Personally I could never do it unless the survey had come back showing something, but the survey should have been done at the start anyway.

whitesatin

citizen11 wrote: »

Why should they budget without child benefit? A couple of hundred pounds is a significant percentage of most peoples post tax income. If you do do any kind of budgeting why would you ignore some of your income?

And here's me thinking child benefit was to help feed and clothe a child.

It is foolhardy to base a house purchase ability on something that could always be taken away.

I am a cash buyer at the moment and I will, of course, use my position to negotiate a good price. Once that price has been agreed, I will pay up regardless of anything except a poor survey.

It is to do with mutual respect and regard for others.

pararct

themull1 wrote: »

If i was the seller, i would say ' of course i will accept £10,000 less, then the day before completion tell you to get lost!!

Day before completion eh!! :rotfl:

You don't work in an estate agent as a financial advisor do you?

That advice is priceless........

undetterred

citizen11 wrote: »

Why should they budget without child benefit? A couple of hundred pounds is a significant percentage of most peoples post tax income. If you do do any kind of budgeting why would you ignore some of your income?

As you've just found out the consequence from 2013,technically it nots an income either,a benefit.

hazyjo

Surely any mortgage offer wouldn't have taken into account any benefits, etc? If the purchase had dragged on for about 9 months, I might understand how the buyer had got cold feet. But after two months? With no salary reduction, and presumably no difference to the mortgage offer? Don't really get it... ah well, hope the vendors now know.

Jx

snowlady07

OP - do what you want but stop moaning. You're quite happy to screw over lots of people due to child benefit being cut for HIGH RATE tax payers in 3 years time. Sounds like an excuse to me.

cardinalbiggles

Someone tried this when I sold my last house, sent someone round "to do an external survey" after they had offered and I had accepted, apparently this was illegal in the Scottish system once an offer had been placed. Tried to drop the price so I told them to get lost and sold to the next highest bidder who was still keen to go ahead even 6 weeks after it went to closing date.

I "lost" 8k in that transaction, if you can call it lost as the money may not have actually been there but I wasnt about to play silly games.

You offer what you want to offer and pay that amount, anything else is just playing games and you deserve to get burnt.