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Found 5 results

  1. Hi All, New to this forum so hoping this post finds all well and in the right place. After some advice regarding the purchasing of a new home during the COVID-19 pandemic and looming UK recession. My wife and I have recently (Feb 2020) reserved a home with a UK house builder and are now in the process of signing legal docs etc. In total, we are already invested around £10,000 in the property which is essentially made up from plot reservation fees, property upgrades, mortgage products fees, legals fees etc. but have not yet exchanged contracts or paid our deposit. With a UK recession and downturn in the housing market inevitable, we find ourselves in a difficult position. Do we continue with the purchase of our home? Back out of the deal and hope the house price will be reduced and plot still available? Or trying to renegotiate the asking price? The latter would be the ideal option for us but we are pessimistic that the builder would ever entertain this idea. We have also read that builders are inclined to pull out of sales even if such questions are asked of them. Has anyone else found themselves in the same position? Is the exception that new home prices will also drop during this house crash? Has anyone else tried to renegotiation to new home builders? Any input/advice would be much appreciated. Thank you in advance.
  2. I am a long time listener to The Archers and one of the things I love about it is that most of the characters are obnoxious; it really is quite entertaining. Occasionally it seems to latch onto current issues and really run with them. Currently you have small business' struggling, rural poverty/homelessness, ruthless business types etc. The rural poverty angle has been stepped up over the last few years as has affordability of housing. Its good to hear issues like this being aired and used for dramatic effect. The wealthy residents of Ambridge should really watch out as I am sure some of the lower orders are sharpening their pitchforks. Any other examples of our 'successful economy' being used to good effect in current drama's?
  3. Someones finally twigged. BBC has some use.....anyone with more recent data? I know I cant afford to get pregnant ;-)....or buy a house, pay the rent and eat...TPTB plan in action!!? http://www.bbc.co.uk/news/business-43195765
  4. August 2007, bang. Historically, we're "due" another recession. I know I know, it's different this time. But let's look back and remind ourselves of the build up and chaos of the last GFC, almost 10 years ago. What happens this time when rates can't be lowered? Prime London falling on record low 0.25% rates, weak GBP, student debt, massively overpriced stocks, BTL crackdown, stagnant wages, record personal debt (credit cards, cars), Brexit, Corbyn, Trump, China, Qatar, Italian Banks. Ideal time to buy? Property market: Review of 2007 http://www.telegraph.co.uk/finance/property/investment/3360078/Property-market-Review-of-2007.html Anyone got some juicy articles either from the mania or the aftermath of 07/08 they'd like to post to remind ourselves that maybe it isn't so different this time, or is it to be QE to infinity and beyond forever?
  5. It's okay everyone, it was all just a bad patch for 6 years, but now it's all back to normal and everyone can relax again. Some clever sausage reckons it's all back to normal now! Check the Times' article below for more detail. http://www.thetimes.co.uk/tto/business/economics/article4084948.ece I call the top! (unless they go for another bout of printy printy) Bb
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