If we vote for Brexit what happens

cashbackproblems

ok i have seen SO many reductions in the south east london and hardly anything on my watch list (anything which meets my criteria and up to 50k over budget goes on there) seems to be selling. The lower demand due to BTL tax, brexit and economic uncertainty, the smart sellers are selling now, prices will go lower.

Crashy_Time

cashbackproblems wrote: »

ok i have seen SO many reductions in the south east london and hardly anything on my watch list (anything which meets my criteria and up to 50k over budget goes on there) seems to be selling. The lower demand due to BTL tax, brexit and economic uncertainty, the smart sellers are selling now, prices will go lower.

I would say the smart sellers are out already.

smile88egc

I wonder if mortgage rates will drop even lower after BOE drop rate in August??

Might be enough to make me start viewing soon.... but otherwise I'm gonna hold out until the dust of this s**tstorm has settled :beer:

cashbackproblems

smile88egc wrote: »

I wonder if mortgage rates will drop even lower after BOE drop rate in August??

Might be enough to make me start viewing soon.... but otherwise I'm gonna hold out until the dust of this s**tstorm has settled :beer:

they are hardly likely to drop by much banks still have to make a profit and at 1/2% they are so low already

cashbackproblems

Crashy_Time wrote: »

I would say the smart sellers are out already.

i agree but if you missed the pre April boom, now is the time to quickly sell at a reasonable price, before they go lower.

glasgowdan

cashbackproblems wrote: »

they are hardly likely to drop by much banks still have to make a profit and at 1/2% they are so low already

That's what product fees are for.

glasgowdan

ukcarper wrote: »

Might be like that in Scotland but here in the south east good rental property is not easy to find.

Good rentals in Scotland are incredibly hard to find and very competitive! We've ended up in a 3 bed house for 6 months paying £950! Can't wait to get our mortgage on the new house we're buying; despite the house being worth 2.5x what this rented one is, the repayments will be half as we've a healthy deposit.

glasgowdan

cashbackproblems wrote: »

ok i have seen SO many reductions in the south east london and hardly anything on my watch list (anything which meets my criteria and up to 50k over budget goes on there) seems to be selling. The lower demand due to BTL tax, brexit and economic uncertainty, the smart sellers are selling now, prices will go lower.

Same in East Dunbartonshire. Next to no decent houses up for sale poat Brexit vs 5-6 a week pre. Any that have come up have sold quickly above home report price...no crash here! Still lots of buyers competing for homes and rightly wanting to avoid renting and wasting cash.

Desirable areas with good schools will hold their value.

buglawton

gfplux wrote: »

Sorry you misquoted his quote.
He was reported as saying.
"Wolfgang Schäuble, the German Finance Minister, said that demands for British financial services firms to have access to the EU single market were 'reasonable'"

Although what he did NOT say was that the firms could still keep their HQ's in the UK and have access.

So we're being told we can't discuss terms till we invoke article 50, yet here's Schäuble already unilaterally setting out terms!

buglawton

brit1234 wrote: »

The falls are going to take months and years rippling out. They had started well before Brexit. Properties were simply overvalued and unaffordable, the bubble had to pop at some time.

However don't be surprised if the government do some more ludicrous schemes to keep house prices inflated like 2009-10 again. After all the big builders donate to the conservative party a lot of money. It all depends if May wants the donations from the builders or the public growing support from the priced out generations.

Most people under 40 will welcome these continuing house price falls. Many older buy to speculator investors taking huge risk and debt won't. That's why Carney has called buy to let a big risk and has got further clamp downs coming.

Has Carney ever 'clamped down' anything? I thought it was the departed Osborne's policy the ramp up tax on BTLs, possibly on a nudge from the departed Cameron to win a bit of quick popularity with generation rent.
That went down well.