Exchange now or after brexit plan is finalised?

moneyistooshorttomention

frustrated_mover wrote: »

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.

Is that the property OP is buying?

Wonder if the vendor reads this Forum.....

Davesnave

moneyistooshorttomention wrote: »

Is that the property OP is buying?

Wonder if the vendor reads this Forum.....

You can stop worrying on behalf of the seller; they're a developer, so wobbly buyers come with the territory

lisyloo

lookstraightahead wrote: »

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

As has been said many times before it would likely be accompanied by job losses and tightening by lenders AND buyers (like the OP) will be nervous because they won't know when we've hit the bottom.


Those who will benefit most will be the well-off able to take a long term risk.


A crash is not a good scenrio for ordinary people.

Red-Squirrel_2

lisyloo wrote: »

A crash is not a good scenrio for ordinary people.

I’m an ordinary person and I reckon I only own my home because of the last crash.

Davesnave

Red-Squirrel wrote: »

I’m an ordinary person and I reckon I only own my home because of the last crash.

Maybe you're a lucky 'ordinary person,' like I was, with a bombproof job?

Or maybe you aren't quite so 'ordinary' as others, because the able, flexible and skilled aren't the typical casualties in a recession.

Even in something as disruptive as WW2, some 'ordinary people' did particularly well when freed from the usual constraints of class and convention....but it wasn't everyone.

lisyloo

Agree.
I have some individuals do very well in comapnies that are making redundancies.
They are the exception rather than the norm.

Red-Squirrel_2

Davesnave wrote: »

Maybe you're a lucky 'ordinary person,' like I was, with a bombproof job?

Or maybe you aren't quite so 'ordinary' as others, because the able, flexible and skilled aren't the typical casualties in a recession.

Even in something as disruptive as WW2, some 'ordinary people' did particularly well when freed from the usual constraints of class and convention....but it wasn't everyone.

Actually, I didn’t even technically have a job, I had a job offer letter! The lenders were still remarkably cavalier.

MMR didn’t come in immediately after the crash, there was a fairly big window where people like me could get a home at a reasonable price.

(I don’t think I mean MMR, do I? That’s the vaccine. What initials am I thinking of for the new mortgage rules?)

lisyloo

Do you mean MIRAS?

I don’t think there’s any chance of lenders being cavalier post the financial crisis.

Davesnave

Red-Squirrel wrote: »

MMR didn’t come in immediately after the crash, there was a fairly big window where people like me could get a home at a reasonable price.

Not sure about the TLA for new affordability criteria. Our buyers had a 'lie to buy' deal with Northern Rock, so when they folded it cost us shedloads, re-marketing at a lower price, losing two more buyers; one loopy and the others calculating b'stards, who got theirs via karma much later.

Then, when we sold, with our awareness of the Crash turned up to11, we realised that in West Wales, where we were headed, people hadn't really woken up to it. After all, smallholdings there were often taking 2-3 years to sell before the meltdown. :rotfl:We had two realistic offers turned down without even a counter-offer.

Things are rarely as straightforward as the pundits seem to think they are!

Red-Squirrel_2

lisyloo wrote: »

Do you mean MIRAS?

I don’t think there’s any chance of lenders being cavalier post the financial crisis.

No, I was right, I mean mortgage market review.

Took a while to come in after the crash.