Is anyone still buying?

ProDave

This situation we face with Covid-19 seems far more serious than anything we have had to face before.

With all the uncertainty are any of you still looking to buy, or pressing ahead with a purchase in progress?

Are mortgages still available or are the lenders getting nervous?

Or have you all put your plans on hold so see where we are in a few (or not so few) months time?

hazyjo

Prob easier to read most of the posts on the first couple of pages lol - everyone's talking about it  

Thank God I'm not moving. I'm really not sure what I'd do. If I was still making money with an agreed price on mine, I'd go through with it. Even if prices dropped after I'd moved, at least I'd know they'd have dropped on what I'd owned before. If I was a FTB, I would definitely pull out.

OldMusicGuy

Yes, pressing ahead with a purchase but we are cash buyers so mortgage not an issue. Mind you, with interest rates so low it might be worth getting one!

annetheman

I'm pushing ahead for 2 reasons: 1) low interest rates; 2) this is a long-term home for me.

I'm not *too* concerned if the value of the house goes down during the very probably global recession ahead, because it is intended to be a place for me to keep for at minimum 10 years, probably more.
Assuming there is a massive drop in house prices over the next 1-5 years, I am hopeful that in 10-15 years, I will still have built up some equity through my purchase so if I do wish to sell, it won't be at a loss.

The only consideration with what's happening would be job security and I work in pharma, more specifically in digital/remote medical engagement; this couldn't be a better time to be in my line of work as everyone is going to be engaging experts remotely if they aren't already.

If I worked in hospitality or freelance, I would pull out.

kazwookie

Yes I'm moving, completion on the property I am selling is 27th March so fingers crossed that goes ahead.

Then there is a gap until I get my onward purchases, not helped by the vendors being 80 and 78, self isolating, so off into a rental for an unknown period of time, the vendors will move it is just a case of when.

I am very worried by it, as I like a definite plan including time scales etc.

MovingForwards

Yes I'm still buying, with a mortgage, should be completing next month.

diggingdude

I'm not moving but if i was it wouldn't stop me.
I have cancelled my overpayments though

rudigarude

Yup, still buying with a mortgage. Super excited to be getting our first home

Windofchange

Still buying here. Not bothered in the slightest although it does add another layer of stress to what has already been a stressful process! 

miamoo21

No I have put a hold on my purchase as there is too much uncertainty with jobs and the economy for me to feel comfortable enough to commit right now, this may change in a couple of months. 

staffie1

kazwookie said:

Yes I'm moving, completion on the property I am selling is 27th March so fingers crossed that goes ahead.

Then there is a gap until I get my onward purchases, not helped by the vendors being 80 and 78, self isolating, so off into a rental for an unknown period of time, the vendors will move it is just a case of when.

I am very worried by it, as I like a definite plan including time scales etc.

Doing the same here - completion mid April and I’m moving into a rental while I look for something to buy, hopefully at lower prices!