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Guest giove

No Future?

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Guest giove

After posting, reading and searching on the web I've decided not to buy a flat.

I am convinced now that it is not worthy it spending my cash on a flat I don't really want, in an area I don't really like and thinking that I will make a small profit in the future, because there is no future at these prices.

Anyway, I will now have to cancel my mortgage arrangements etc etc, does anyone know how much roughly I will have to pay the solicitors,banks

I have already paid 300 pounds to the bank surveyor and 250 to the solicitor to start the legal documentation.

What happens if I stop right here , right now!

anti.

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After posting, reading and searching on the web I've decided not to buy a flat.

I am convinced now that it is not worthy it spending my cash on a flat I don't really want, in an area I don't really like and thinking that I will make a small profit in the future, because there is no future at these prices.

Anyway, I will now have to cancel my mortgage arrangements etc etc, does anyone know how much roughly I will have to pay the solicitors,banks

I have already paid 300 pounds to the bank surveyor and 250 to the solicitor to start the legal documentation.

What happens if I stop right here , right now!

anti.

Firstly welcome, and secondly congratulations on not following the sheeple into the financial slaughter house.

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Guest giove

Firstly welcome, and secondly congratulations on not following the sheeple into the financial slaughter house.

thanks shakerbaby, I think my real doubts started when I did my maths - I will pay six thousands pounds interest a year to the bank. That's like paying rent for the same period without the risk of buying.

better wait and save later!

anti

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thanks shakerbaby, I think my real doubts started when I did my maths - I will pay six thousands pounds interest a year to the bank. That's like paying rent for the same period without the risk of buying.

better wait and save later!

anti

You made a good decision. Better to see how this year goes economic wise.

Buying doesn't make sense unless you have a large deposit which would make the mortgage cheaper. If it is no different to renting then why take the risk in buying at the top and getting into negative equity.

Plus you would lose your mobility if you have to move area to another job.

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thanks shakerbaby, I think my real doubts started when I did my maths - I will pay six thousands pounds interest a year to the bank. That's like paying rent for the same period without the risk of buying.

better wait and save later!

anti

No worries I was in the same mind set early last year and decided to do some research of my own online part of which led me, rightly or wrongly, here however I always did have my own opinions that a correction was long overdue so I am now renting, saving and waiting to see what happens whilst still getting on with my life which some posters may believe it or not it is possible with renting. B)

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After posting, reading and searching on the web I've decided not to buy a flat.

I am convinced now that it is not worthy it spending my cash on a flat I don't really want, in an area I don't really like and thinking that I will make a small profit in the future, because there is no future at these prices.

Anyway, I will now have to cancel my mortgage arrangements etc etc, does anyone know how much roughly I will have to pay the solicitors,banks

I have already paid 300 pounds to the bank surveyor and 250 to the solicitor to start the legal documentation.

What happens if I stop right here , right now!

anti.

has your solicitor done the land searches yet? they can be a couple hundred quid. If you've not paid anymore to the mortgage company, you should be ok there. Otherwise, there sholuldn't be anymore costs.

I tried to buy 2 years ago and 2 properties fell through and i lost in total about £1500. I'm glad that i didn't buy in the end, especially when i consider how small the properties were!

I can't honestly say wether house prices will go down, what i know is that i refuse to pay the extortionate prices for homes at the moment.

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Guest giove

has your solicitor done the land searches yet? they can be a couple hundred quid. If you've not paid anymore to the mortgage company, you should be ok there. Otherwise, there sholuldn't be anymore costs.

I tried to buy 2 years ago and 2 properties fell through and i lost in total about £1500. I'm glad that i didn't buy in the end, especially when i consider how small the properties were!

I can't honestly say wether house prices will go down, what i know is that i refuse to pay the extortionate prices for homes at the moment.

:(

hee hee... I got my searches and this is another reason why I changed my mind. The flat I was trying to get costs 125k and the owner paid 78K in December 2001, that means he is making a profit of 47K in 5 years, is it me or that is too much. I am sure I will not be able to sell it at 180 pounds in 5 years , it's only a studio flat :blink:

anti.

ps: Unfortunately I have already invested 550 pounds in this nonsense and maybe I will have to pay some more, I think it will be aroun 1000 pounds. that will definitely teach me a lesson.

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:(

hee hee... I got my searches and this is another reason why I changed my mind. The flat I was trying to get costs 125k and the owner paid 78K in December 2001, that means he is making a profit of 47K in 5 years, is it me or that is too much. I am sure I will not be able to sell it at 180 pounds in 5 years , it's only a studio flat :blink:

anti.

ps: Unfortunately I have already invested 550 pounds in this nonsense and maybe I will have to pay some more, I think it will be aroun 1000 pounds. that will definitely teach me a lesson.

Cut your losses now and sit out the market from the sidelines, its fun to watch and monitor. :lol:

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Losing a grand on apparently nothing is a bit rough,

look upon it as spedning £1000 now to save yourself £6k

per year for the forseeable future, it looks like a bargain.

Admittedly, you could have figured it out for free, but be

glad you only lost a grand :)

ABB

Edited by AgeingBabyBoomer

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:(

hee hee... I got my searches and this is another reason why I changed my mind. The flat I was trying to get costs 125k and the owner paid 78K in December 2001, that means he is making a profit of 47K in 5 years, is it me or that is too much. I am sure I will not be able to sell it at 180 pounds in 5 years , it's only a studio flat :blink:

anti.

ps: Unfortunately I have already invested 550 pounds in this nonsense and maybe I will have to pay some more, I think it will be aroun 1000 pounds. that will definitely teach me a lesson.

Try saying to the solicitor that you were very happy with them and will use them again next time you buy the may be gentle on any charges outstanding - on the other hand they may not but it's worth a try

Always make sure you are happy with everything before authorising any professional to act on you behalf

Having been in a buying situation many times over the years always do things in order - you have to pay for a valuation up front - but don't allow the solicitor to spend any money on searches until you get the valuation back - if there are faults with the property and you have to pull out you will have paid for LR searches for nothing - remember the solicitor is working for you and has to do what you say

Hope this helps CS

PS don't be disappionted the next place you see will be much better

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Guest giove

Cut your losses now and sit out the market from the sidelines, its fun to watch and monitor. :lol:

Losing a grand on apparently nothing is a bit rough,

look upon it as spedning £1000 now to save yourself £6k

per year for the forseeable future, it looks like a bargain.

Admittedly, you could have figured it out for free, but be

glad you only lost a grand :)

ABB

Try saying to the solicitor that you were very happy with them and will use them again next time you buy the may be gentle on any charges outstanding - on the other hand they may not but it's worth a try

Always make sure you are happy with everything before authorising any professional to act on you behalf

Having been in a buying situation many times over the years always do things in order - you have to pay for a valuation up front - but don't allow the solicitor to spend any money on searches until you get the valuation back - if there are faults with the property and you have to pull out you will have paid for LR searches for nothing - remember the solicitor is working for you and has to do what you say

Hope this helps CS

PS don't be disappionted the next place you see will be much better

Thank you all guys for the moral support, I will follow your advice Cornwall Sceptic and see what happens, but as AgeingBabyBoomer said better spedning £1000 now and save myself some serious cash.

I think it's very frustating working very hard everyday and not being able to have my own place, and that was the reason I wanted to buy regardless....but I am back to normality now :)

speak soon

anti.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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