"Potential" Conservative majority meaning

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Cooper12
Cooper12 Posts: 1 Newbie
in Mortgages & endowments
First time poster I hope this is okay.
Looking to buy our first house this month. With the exit poll and the more than likely majority the conservatives now have. Does this leave me in a better position to negotiate or should I wait until after the 31st of January. Any guidance on this would be great

Thank you

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Negotiate what precisely? Seems as if the status quo will be maintained if the forecasts are proved correct.
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    edited 13 December 2019 at 11:48AM
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    OP please clarify what a conservative win will mean for your house, if you went to a buyer asking for a discount due to the conservatives, what do you think the answer would be? something ending with 'off' potentially


    People will buy houses whatever party is in party and whether in EU or not
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
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    I bought my house a month ago - can I claim mis-selling now? !!!!!!
  • ACG
    ACG Posts: 23,727 Forumite
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    Sterling and share prices jumped after it was announced it looked like Conservatives would win.

    On that basis I would expect house prices to at least remain stable. But regardless of who got in power, if I was selling and someone said to me I want you to drop the price because x got in power, I would ask you to close the door on the way out, that alone is not a reason to negotiate a house price.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ACG wrote: »
    On that basis I would expect house prices to at least remain stable.

    Still subject to wider events.
  • confusedftb
    confusedftb Posts: 91 Forumite
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    there are many things.

    first of all, the majority conservative win has given back the lost confidence to the public. therefore it will mean that the demand for houses may rise, and same for the prices.

    Lots of people were holding to buy because they were expecting the elections to result in a hung parliament, which would have meant further uncertainty and further drop in prices of houses. but its gone otherwise. one of the things i would assume is that the housing market will get stable, supported by the fact that shares of property builders shot up straight away after the election win.

    Nevertheless, still a good time to get going and exchange because the more stable it gets the less negotiating power the buyer will have because of the increased supply of buyers. But there will also be more houses in the market.

    An essay could be written on this, really depends what you are looking for.

    Good luck!:)
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    confusedftb wrote: »
    first of all, the majority conservative win has given back the lost confidence to the public. therefore it will mean that the demand for houses may rise, and same for the prices.
    Until 2020 progresses, people begin to realise we're not going to conclude a trade deal with the EU in record time, and 12 months from now we're again on the precipice of a no deal Brexit.
  • dimbo61
    dimbo61 Posts: 13,716 Forumite
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    If you need a home then start looking.
    Unless you like the flexability of renting or staying in your bedroom with Mum and Dad paying the bills etc.
  • ACG
    ACG Posts: 23,727 Forumite
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    Thrugelmir wrote: »
    Still subject to wider events.

    Of course, but that goes for any time, not just an election.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ACG wrote: »
    Of course, but that goes for any time, not just an election.

    At the current time highly pertinent though factoring in events at an international level. The after effects of the GFC are still impacting.
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