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Should first time buyers wait until after Brexit, or rush and buy before 29th March?

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Comments

  • lisyloo
    lisyloo Posts: 30,094 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    along with more expensive BTL mortgages will be putting many people off ever becoming landlords


    I think it's a good thing if we have fewer landlords and more professional and fewer amateurs/accidental landlords.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    lisyloo wrote: »
    I think it's a good thing if we have fewer landlords and more professional and fewer amateurs/accidental landlords.


    Try telling the masses who bought (borrowed) the property owning dream sold to them by the bankers that.
  • SouthLondonUser
    SouthLondonUser Posts: 1,445 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    Is it always and only other people's fault?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    badmemory wrote: »
    The others will be turning into ltd cos to avoid the tax hits.

    What's the tax position when selling an investment property from within a limited company?
  • ProDave
    ProDave Posts: 3,785 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    Crashy_Time wrote: »
    Try telling the masses who bought (borrowed) the property owning dream sold to them by the bankers that.
    I bought my first home 32 years ago now. Now in my 4th house, much much larger than the first and owned outright, the mortgage having been paid off long ago ahead of schedule due to over paying each month.

    I can now look forward to retiring in a house I own, with no rent to pay.

    Tell me how this is such a bad thing?

    I hope you have a better pension than me as your pension will have to keep paying rent in your retirement.
  • 2cherriesmum
    2cherriesmum Posts: 3 Newbie
    Looks like Brexit is going to be delayed a year... don't put your life on hold!
  • SouthLondonUser
    SouthLondonUser Posts: 1,445 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    ProDave, I don't think anyone has said that renting for 3 decades is always better than buying. The question is whether one should buy now, with all this Brexit uncertainty, or wait a bit more.
  • ProDave
    ProDave Posts: 3,785 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    SouthLondonUser wrote: »
    ProDave, I don't think anyone has said that renting for 3 decades is always better than buying. The question is whether one should buy now, with all this Brexit uncertainty, or wait a bit more.
    Crashy time seems to be telling us that is the way to go as house prices are going to crash, that is who I was responding to.
  • SouthLondonUser
    SouthLondonUser Posts: 1,445 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    That was not my interpretation of what crashy said. The whole discussion has been about the short to mediun term: shall one buy now or wait till there is more clarity on Brexit?

    You add nothing to the discussion and are of no help to the OP by saying that buying worked well for you in totally different circumstances and with a totally different (much longer) time horizon than what is being discussed here.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    https://www.independent.co.uk/news/business/news/uk-house-prices-property-market-growth-sales-drop-england-wales-latest-a8590626.html
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