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First time buyer - wait out Brexit?

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  • First time buyer - wait out Brexit?

    I've got a bit of a dilemma and am after some advice on everyone's favourite topic - Brexit!

    My wife and I have just about managed to save up enough deposit for our first house, but I'm loathed to take the plunge for at least two years so that I can see how Brexit is going to affect house prices.

    My wife unfortunately doesn't share the same opinion, and argues that we're losing money the longer we wait (since house prices still seem to be on the up at the moment).

    As a first time buyer who will have a large LTV, we're going to be most vulnerable to any drops in house prices so I guess what I'm asking for is some advice...

    To wait, or to buy? Which is more financially prudent?

    Thanks!

  • #2
    Re: First time buyer - wait out Brexit?

    The problem with predicting the housing market around any major event is that it is dependent on thousands of factors. It is not just supply and demand. Plus there are plenty of things that can change the market overnight. I would say if you are waiting for an expected outcome, don't. Housing prices could go either way and trying to predict them could backfire.

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    • #3
      Re: First time buyer - wait out Brexit?

      Good question to which there is no answer without hindsight I’m afraid. Anything could happen to the market due to Brexit or other issues.

      We can hope for the best as the majority of British voters wanted it and they can’t all be wrong, can they?!
      Jonathan Rolande
      Director of House Buy Fast.
      The UK's Quick House Buying Company
      01903 331 588.

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      • #4
        Re: First time buyer - wait out Brexit?

        More likely the prices will go down after Brexit but anything possible...
        Moving Consultant
        Watson Removals Brighton
        Web: www.watsonremovalsbrighton.co.uk

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        • #5
          Re: First time buyer - wait out Brexit?

          It's not so much the house prices you need to keep an eye on but the mortgage rate.
          They are predicted to go up over the next 12 months so locking in now might be a good idea

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