Exchange now or after brexit plan is finalised?

catshark88

Mark Carney has been Mr Project Fear, since way before Brexit. He's Mr Miserable, in a sharper suit.

lookstraightahead

Not everyone would be disappointed with a 30% fall in the housing market.

Crashy_Time

https://www.telegraph.co.uk/finance/property/house-prices/4075138/UK-house-prices-suffered-record-drop-in-2008.html


I guess if it happens they will just slash interest rates again.....oh, wait a minute:eek:

Davesnave

lookstraightahead wrote: »

Not everyone would be disappointed with a 30% fall in the housing market.

Yes, my kids are looking to buy /upsize next year, so I'd be very happy to see them do a good deal.


However, last time prices fell by as much as 20%, people were being regularly disappointed by their inability to get lenders on board. If we see them, massive drops won't be good news for all those hoping to buy.

Thrugelmir

fussyhumanbeing wrote: »

Is waiting a couple of weeks worth potentially having to borrow 100k less in a doomsday scenario, IMO, yes.

You obviously read headlines and not the substance. As you are totally misinterpreting what was actually said. Pointed out your inaccuracy in my earlier post.

jimbog

Crashy_Time wrote: »

https://www.telegraph.co.uk/finance/property/house-prices/4075138/UK-house-prices-suffered-record-drop-in-2008.html

This link is from 2008
Even I won't quote from it

Davesnave

jimbog wrote: »

This link is from 2008
Even I won't quote from it

I think the point being made is that house prices fell 16% in a year.

I remember it well enough, as I got out of property then. With interest rates on savings accounts @ >6% it wasn't painful; in fact renting was profitable.

Now, renting isn't so attractive, especially with interest rates on the floor, and my money in the bank at that time isn't comparable to a FTB with just a deposit now. Also, I didn't need to find a lender willing to take the risk when I bought again, 9 months later. At that point, FTBs were finding mortgage deals thin on the ground.

There are opportunities in a major recession for those still with jobs, but it's likely to be case of "to those that have, it shall be given."

Still, Crashy will be OK. Look how long he's been saving!

Red-Squirrel_2

ciderboy2009 wrote: »

It would be quite easy to answer any queries on it - a choice of "nobody knows" or "don't be so stupid".

On a serious note - ignore anything Carney says as he's needed a new crystal ball for years now! He was always and still is one of the key players for Project Fear.

Also, forget about the possibility of a second referendum - it will never happen as it would be political suicide.

I think the ‘project fear’ label really needs to go now.

Red-Squirrel_2

fussyhumanbeing wrote: »

If the property prices fell by 30% after March - then my current mortgage amount (240k) would be almost double what it would be if I purchased during the crash (120k). That is almost doubling the loan amount . Is waiting a couple of weeks worth potentially having to borrow 100k less in a doomsday scenario, IMO, yes.

If property rose 30% would you offer/expect to pay more?

frustrated_mover

Sw16 -Furzedown George4060? It is a little gem, great community feel and even made it into the Times best places to live 2018. 4 beds from £750k.

Prices wont drop all in one go - those were 10-15 yr forecasts so by waiting until after Christmas you just inject some uncertainty into your relationship with the seller. They might start wondering if you are going to pull out.....as indeed you are considering doing. If they start looking for a more committed buyer - how would you feel?