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ftb help, solicitor/brexit
sharklaser
Posts: 3 Newbie
hi i am new here just wondered if someone can help. we have found the house of our dreams and its affordable, we are both ftbers but havent exchanged yet. it is due on the 10th july. but today my solicitor rang and asked if we wanted to proceed still. we told them yes. but now i'm getting nervous because my o.h. knows a conveyancer - his mate and he said 4 people had dropped out today at his firm due to the referendum. i want to go ahead, my o.h. isnt sure i know its a joint decision. we have an aip, but i am not sure if we shoul wait now a few weeks because of brexitting. panic stations!
we both voted to remain so we was shocked by the result. just wanted some advice about if we should try to delay and for how long. thanks.
we both voted to remain so we was shocked by the result. just wanted some advice about if we should try to delay and for how long. thanks.
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Comments
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You've found a house you like (love?)? It's going to be your home. buy it.
How long do you plan to live there?
You have an AIP - for now! Once the banks start amending their lending criteria as a result of Brexit, you may not get an AIP.0 -
yes i am considering that strongly. but my o.h. is not keen on risk. and the worry is that if we go ahead now we will be in negative equety. and it would feel rushed if we only went into it to secure the aip on the basis it wont be offered later because the lender is not willing to offer it. so in other words the price is going down or house market getting tough or both.. its just sooo bad timing for us. its not an easy decision any way without this added stress!!
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lots of people panicing as though they had never met anyone who had survived the falls of 2008 and the recovery thereafter. Things go down, things go up.
either you need to live in that house now, and it is the best you have seen now, or it isn't.0 -
ok i see what you mean. we are in the northeast prices have gone up a wee bit since 2008 but not much compared to london sadly!!0
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You need a home, you have found a home.
Buy the home.
If things go well, you'll be glad you just got on with your life.
If things go badly, you'll be glad you've got your own bolthole to call "home".
Good luck!0 -
Sit it out if you can. Unless there is a really desperate reason why you need to buy in the next few weeks, common sense says don't. If you do decide to buy based on everything that's coming through right now in news and forums, offer 20% less and see if they accept. If they don't, even if it would be your main home, don't.
Don't ever rush such a huge decision.
I was in the process of making offers for houses I liked and was close to negotiating a deal for one home, but I'm not stupid. I've withdrawn my offer and want to see what happens in the next few weeks.0 -
There will always be another house and as FTB the world will be your oyster.
Only buy this one if you can see yourselves living in it in 10 years time and the mortgage is cheaper than what you are currently paying in rent.
If that is the case you have nothing to lose.0 -
lots of people panicing as though they had never met anyone who had survived the falls of 2008 and the recovery thereafter. Things go down, things go up.
either you need to live in that house now, and it is the best you have seen now, or it isn't.
I bought in 2007, peak price before crash and sadly no recovery in my area.0 -
nonetheless you are still living there in the house that you liked at the time you bought it. A paper loss is irrelevant, in what way has still being there stunted your life? Had more kids than you have the space for? If not then there is no other reason to be bitter except greed and jealously of those in "bigger" properties.I bought in 2007, peak price before crash and sadly no recovery in my area.
I still have the first house I bought in 1991. There has never been a need to sell it.0 -
I bought in 2005 and the value dropped a bit, it's now increased a bit . . . it didn't worry me because I'd bought a house to live in.
It's now worth about 30k more than I paid, it might drop a bit again, so what?
I've lived in it rent free for 11 years and I've no reason to want to move.0
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