1st time buying a flat - and so so sorry for this!!!

Lavendyr

jumperabv3 wrote: »

I'm not a troll and I'm a genuine person.

The reason people (including me, I'm afraid, and I have tried to help) are getting disbelieving, quite apart from other posts you have made on these forums, is that despite being told the same thing over and over, you refuse to listen and keep spouting the same things.

I get that your first post was made in panic, but come on - it's been days now - most people would have calmed down and worked out an action plan by now - which should include seeking professional investment advice, possibly from someone in the property investment field. But you have continued to make what seem like panicky and potentially inflammatory posts about the "sterling dropping like a stone" and the "dreadful state of the UK economy" - it does start to seem a bit troll-like after a while because you are simply not listening to what anyone is saying.

Not trying to be unhelpful or impolite - just saying it like it reads, from an impartial point of view.

jumperabv3

Lavendyr wrote: »

The reason people (including me, I'm afraid, and I have tried to help) are getting disbelieving, quite apart from other posts you have made on these forums, is that despite being told the same thing over and over, you refuse to listen and keep spouting the same things.

I get that your first post was made in panic, but come on - it's been days now - most people would have calmed down and worked out an action plan by now - which should include seeking professional investment advice, possibly from someone in the property investment field. But you have continued to make what seem like panicky and potentially inflammatory posts about the "sterling dropping like a stone" and the "dreadful state of the UK economy" - it does start to seem a bit troll-like after a while because you are simply not listening to what anyone is saying.

Not trying to be unhelpful or impolite - just saying it like it reads, from an impartial point of view.

You are right, I don't dispute what you said.
I think my panic came more from the GBP losing 1000 pips in 1 week against the USD but it happened in history already and it happened in the other direction as well, I have no control over currencies, but indeed the "current" climate supports the market to favour the USD because of the issues in Europe, but this "current" situation can always change which is why I shouldn't get into this.

In addition,
I've been through several "meetings" (mainly online and phone calls) with some professionals so far, some of them (in the property field) tend to actually go for that idea of that property, they told me from their experience the rental demand in Wanstead has gone up and it's not such a bad idea (although they agree like you it was quite "over-priced" what I paid but they said when it comes to properties if you spent £20k more let it be your lesson).

Others think there could have been a far better investment but no one has a "solid" opinion, it's like a market - bulls and bears, some say it was a good idea after all and some say the other way around - this is what I got from a few people I spoke with in this field.
And some people here tell me to stick to the GBP long term and not to the USD because they say America has interest having a strong GBP long term, they say I shouldn't get involved in this, but they just told me to look 2-3 years forward and see the currency market would not be in the same place where it is now .... but no one can predict anything, this is their assumption.

I feel a bit better after all and the opinions here in the forum including all the conversations I made were a bit helpful ... thank you for your help.

abankerbutnotafatcat

This morning the rate was USD1.57 to the £1. The pound is no longer in "freefall" it appears. Wonder what OP thinks now?