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Beginning to panic...
halesowenmum
Posts: 163 Forumite
Please can I have some advice?
I've got a first time buyer viewing on Sat - which is actually causing me to panic.
As the weeks have gone on (the market is v flat round here, nothing over £130k is moving), all the properties I've been looking at (lower price than mine) have gradually been disappearing from off of Rightmove - sold, rented instead of being up for sale etc.
Finally I had a clear answer from the mortgage lender about how much I could have so now I'm not going to be able to afford a 3 bed house, but will need a two bed - with a cellar (which I will have tanked to provide bedroom no. 3). That then gives me something I can afford.
This is what is worrying me: If I accept an offer next week (if such a miracle could possibly occur), then as things stand at the moment I've got no property to buy - there are literally only TWO that I could potentially buy (so of course, if these disappear too, there'll be none that are in my price range).
If I have to rent 1. it will cost me over £150 a month more and 2. I'll have to pay the full whack of early repayment fees.
I'm so worried about all of this that I am considering, if he doesn't offer, that I take my house off the market.
I don't know what people think but I would appreciate some advice and thoughts as I've not been in this situation before and am not quite sure how to think about what action to take/not take.
Thank you.
I've got a first time buyer viewing on Sat - which is actually causing me to panic.
As the weeks have gone on (the market is v flat round here, nothing over £130k is moving), all the properties I've been looking at (lower price than mine) have gradually been disappearing from off of Rightmove - sold, rented instead of being up for sale etc.
Finally I had a clear answer from the mortgage lender about how much I could have so now I'm not going to be able to afford a 3 bed house, but will need a two bed - with a cellar (which I will have tanked to provide bedroom no. 3). That then gives me something I can afford.
This is what is worrying me: If I accept an offer next week (if such a miracle could possibly occur), then as things stand at the moment I've got no property to buy - there are literally only TWO that I could potentially buy (so of course, if these disappear too, there'll be none that are in my price range).
If I have to rent 1. it will cost me over £150 a month more and 2. I'll have to pay the full whack of early repayment fees.
I'm so worried about all of this that I am considering, if he doesn't offer, that I take my house off the market.
I don't know what people think but I would appreciate some advice and thoughts as I've not been in this situation before and am not quite sure how to think about what action to take/not take.
Thank you.
0
Comments
-
Market dies leading up to Xmas. Come the spring. More properties will progressively come onto the market. So don't despair yet.
Focus on selling yours.
Yes renting is more expensive when compared to a mortgage. However you have no repair or maintenance bills to worry about. So evens out over time.0
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