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Exchange now or after brexit plan is finalised?

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Comments

  • ironmanjason
    ironmanjason Posts: 135 Forumite
    Fifth Anniversary 100 Posts Car Insurance Carver! Cashback Cashier
    novelty-socks wrote: »
    I'.
    I should add that I'm buying in a part of London where I think there's little scope for price growth, but where I also think prices should be somewhat protected from any slump. They'll probably fall, but slower than in some areas. (Of course, I could be completely wrong on this.)

    Just out of curiosity - which part of London is this? :)

    Make £2019 in 2019 Challenge - £272.48/£2019
  • fussyhumanbeing
    fussyhumanbeing Posts: 17 Forumite
    I'm also curious to know!
  • george4064
    george4064 Posts: 2,951 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    ^Also curious!


    I'm in a similar situation to you novelty-socks. Plan is to exchange before Christmas with a end of January completion date.


    Healthy deposit here too, and my mortgage payments are pretty similar to my current monthly rent..
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    fussyhumanbeing wrote: »
    What would you do? ... I need a home of my own.
    Can you afford it?
    Then buy it.
  • novelty-socks
    novelty-socks Posts: 271 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    Just out of curiosity - which part of London is this?

    N6/N8 borders. Any more than that you'll need to figure out for yourself! :D

    BTW, I should reiterate: It's just my opinion, and I'm just some random person on the internet who's an inexperienced first-time buyer and spent a lot of time viewing flats. I don't have any other special property or market knowledge.

    Now, where are you other Londoners looking to buy?
  • george4064
    george4064 Posts: 2,951 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    SW16 here. :D
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    fussyhumanbeing wrote: »
    Obviously the current political turmoil is causing a lot of distress - with BoE warning of a 30% fall in house prices in the event of a chaotic no deal.

    Not a no deal but in a worst case scenario. Fall of 33% over 3 years.
  • ironmanjason
    ironmanjason Posts: 135 Forumite
    Fifth Anniversary 100 Posts Car Insurance Carver! Cashback Cashier
    I am waiting to exchange in sw20 but i can see prices have stagnated around here and properties priced at the higher end tend to be on the market for months together until they come down to realistic figures

    Make £2019 in 2019 Challenge - £272.48/£2019
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
    fussyhumanbeing wrote: »
    I'm very close to exchanging on a property.

    .

    You've just answered your own query - "very close to" means you've already agreed to buy this property.
  • hazyjo
    hazyjo Posts: 15,476 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    moneyistooshorttomention wrote: »
    You've just answered your own query - "very close to" means you've already agreed to buy this property.
    The title question still stands - they're no more committed than they were before offering. They would lose money, but the agreement is not legally binding yet.
    2024 wins: *must start comping again!*
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