House prices to fall 10%

[Mowgli]

Pulled out of mine today. Estate agent last week said he could see why we and agreed we should renegotiate and said it could drop 5%. Today he said he cant see a reason why it would drop and hes a surveyor so would know absolute ball bag.

Sellers are still wanting asking price. Good luck then.

 

[Roaring Chubby]

Pulled out of mine today. Estate agent last week said he could see why we and agreed we should renegotiate and said it could drop 5%. Today he said he cant see a reason why it would drop and hes a surveyor so would know absolute ball bag.

Sellers are still wanting asking price. Good luck then.

It’s a sign. If that house was the one you wouldn’t be too fussed about 5%.

 

[JumpingAnaconda]

I can not see a slump happening in family homes. I think it is going to be the opposite. I think family houses with gardens will have more premium value. I think where the dip will be is in single bed flats in built up areas, and I think the dip will only last a few months, and it will be less than 10%. There could also be a bit of a hangover in cosmopilitan areas where foreigners with loose connections to the UK decide to return home for the long term.

 

[monkeytassle]

My buyer is fine and I am fine with what we paid.

 

[Mackem00]

Pulled out of mine today. Estate agent last week said he could see why we and agreed we should renegotiate and said it could drop 5%. Today he said he cant see a reason why it would drop and hes a surveyor so would know absolute ball bag.

Sellers are still wanting asking price. Good luck then.

What was the reason for your estate agent to say that out of interest mate? I can't think why it would drop have dropped in that time. 5% is massive to the seller.

My buyer is fine and I am fine with what we paid.

Seems fair enough and good news mate.

 

[AndrewP]

Pulled out of mine today. Estate agent last week said he could see why we and agreed we should renegotiate and said it could drop 5%. Today he said he cant see a reason why it would drop and hes a surveyor so would know absolute ball bag.

Sellers are still wanting asking price. Good luck then.

You have the power here I think. There's plenty more houses and a lot of uncertainty.

I wouldn't pay £1.21 for a litre of Diesel at the moment, that's how much I paid last time I filled up.

Obviously if you're desperate for that house then he's within his rights to team you to fuck off if you go back later with asking price.

 

[Mowgli]

What was the reason for your estate agent to say that out of interest mate? I can't think why it would drop have dropped in that time. 5% is massive to the seller.

Seems fair enough and good news mate.

We approached about reducing to the economic climate and too much uncertainty for us to stick pay the same amount. Didnt expect it to be accepted and wasnt particularly arsed. Just seems unnecessary risk to take when theres no idea what's happening.

You have the power here I think. There's plenty more houses and a lot of uncertainty.

I wouldn't pay £1.21 for a litre of Diesel at the moment, that's how much I paid last time I filled up.

Obviously if you're desperate for that house then he's within his rights to team you to fuck off if you go back later with asking price.

Weve got 50% deposit there if we need it and are first time buyers. No reason to rush into it even though I'm really keen to get started with a house like.

 

[Mackem00]

We approached about reducing to the economic climate and too much uncertainty for us to stick pay the same amount. Didnt expect it to be accepted and wasnt particularly arsed. Just seems unnecessary risk to take when theres no idea what's happening.

Weve got 50% deposit there if we need it and are first time buyers. No reason to rush into it even though I'm really keen to get started with a house like.

Well you know what's best for you and it sounds like you are in a ridiculously good position either way so ignore my shite.

 

[AndrewP]

Weve got 50% deposit there if we need it and are first time buyers.

I predict they'll come back, a ready to proceed first time buyer will be fairly rare, especially at the moment.

 

[JumpingAnaconda]

We approached about reducing to the economic climate and too much uncertainty for us to stick pay the same amount. Didnt expect it to be accepted and wasnt particularly arsed. Just seems unnecessary risk to take when theres no idea what's happening.

Weve got 50% deposit there if we need it and are first time buyers. No reason to rush into it even though I'm really keen to get started with a house like.

How much will you spend in rent in the meantime?

 

[Goat Eyes]

We approached about reducing to the economic climate and too much uncertainty for us to stick pay the same amount. Didnt expect it to be accepted and wasnt particularly arsed. Just seems unnecessary risk to take when theres no idea what's happening.

Weve got 50% deposit there if we need it and are first time buyers. No reason to rush into it even though I'm really keen to get started with a house like.

Just got to hope your circumstances don’t change any e.g. job loss and can’t get the mortgage you’re after.

 

[AndrewP]

How much will you spend in rent in the meantime?

If he's buying a £150k house, he stands to save £7500.

He's going to be saving interest each month to offset against his current rent (presuming they're not currently living rent free).

Just got to hope your circumstances don’t change any e.g. job loss and can’t get the mortgage you’re after.

Equally if such a thing was to happen then they might be grateful they didn't have a mortgage to pay.

Nobody can say with and real certainty what his best move was. Time will tell and he can reflect then.

 

[Goat Eyes]

If he's buying a £150k house, he stands to save £7500.

He's going to be saving interest each month to offset against his current rent (presuming they're not currently living rent free).


Equally if such a thing was to happen then they might be grateful they didn't have a mortgage to pay.

Nobody can say with and real certainty what his best move was. Time will tell and he can reflect then.

Of course.

 

[Mowgli]

How much will you spend in rent in the meantime?

Nothing. We are in a good position that we still live at home and can save at least 2k+ a month.

If he's buying a £150k house, he stands to save £7500.

He's going to be saving interest each month to offset against his current rent (presuming they're not currently living rent free).


Equally if such a thing was to happen then they might be grateful they didn't have a mortgage to pay.

Nobody can say with and real certainty what his best move was. Time will tell and he can reflect then.

Planning on spending between 180-215k. So saving could be decent, we were more disappointed about not buying a house than losing that house if that makes sense.

Just got to hope your circumstances don’t change any e.g. job loss and can’t get the mortgage you’re after.

A decent point which we have considered. The mortgage we are planning on taking is just over one of our salaries. So we wouldnt be stretched on any measurement hopefully. Payments would be like 15% of net pay.

 

[Goat Eyes]

Nothing. We are in a good position that we still live at home and can save at least 2k+ a month.

Planning on spending between 180-215k. So saving could be decent, we were more disappointed about not buying a house than losing that house if that makes sense.

A decent point which we have considered. The mortgage we are planning on taking is just over one of our salaries. So we wouldnt be stretched on any measurement hopefully. Payments would be like 15% of net pay.

Stay at home a few more years and buy outright. What a position to be in.

How old are you out of interest?

 

[Mowgli]

Stay at home a few more years and buy outright. What a position to be in.

How old are you out of interest?

28 next month.

I'll be totally honest, the money is 75% my fiancee's just saved heavily since she left school. Only frustrating part is wanting to move out, get married and have kids etc sooner rather than later. Will have to make the jump at some point.

 

[AndrewP]

A decent point which we have considered. The mortgage we are planning on taking is just over one of our salaries. So we wouldnt be stretched on any measurement hopefully. Payments would be like 15% of net pay

I'm massively jealous of just how class your financial circumstances are.

Both of you on around £100k with a circa £100k deposit. The only advice I could find you was buy something better, you can afford it.

 

[Mowgli]

I'm massively jealous of just how class your financial circumstances are.

Both of you on around £100k with a circa £100k deposit. The only advice I could find you was buy something better, you can afford it.

Nah we earn around 58k a year between us atm so nothing spectacular. With interest rates being 1.9% in places... we were looking at a 190k ish house and the mortgage was like 440 a month.
Edit - without the deposit we'd be struggling

 

[James]

Nah we earn around 58k a year between us atm so nothing spectacular. With interest rates being 1.9% in places... we were looking at a 190k ish house and the mortgage was like 440 a month.

Fuckin hell. Wish I was putting away 2 bags a month. It almost makes me cry thinking about how much we pay in rent compared to that mortgage. I don't regret it because it has been class but we'd be about 100 times better off financially if we took another path.

 

[Mowgli]

Fuckin hell. Wish I was putting away 2 bags a month. It almost makes me cry thinking about how much we pay in rent compared to that mortgage. I don't regret it because it has been class but we'd be about 100 times better off financially if we took another path.

Like I said above, it's mainly our lasses while I wasted a few years as we all do

It's good to have the deposit sorted but wish we had done stuff earlier like moving out and maybe having a kid etc. Positives and negatives I suppose.

I'm massively jealous of just how class your financial circumstances are.

Both of you on around £100k with a circa £100k deposit. The only advice I could find you was buy something better, you can afford it.

By just over one of our salaries I meant just over what they would offer us based on 1 salary. Certainly not on near 100k a year f***ing wish