Is very soon a perfect or unpromising time for first time buyers to pocket a mortgage and buy a house surrounded by the UK?
Answers:
i Wald wait and permit the dust settle
Depends where you are contained by UK - undoubtedly, the house price market will go down a bit more surrounded by some areas and a lot more in others but surrounded by some parts of UK, the market is strong and prices are still rising slowly. Therefore, it's a great time to start planning for it - keep an eye on house price movements, hide away as much money as possible and start researching your mortgage deals. Credit conditions may get a moment or two better with recent announcements by bank of England and RBS - if other bank follow suit.
It's all a matter of timing. However, if everybody who is thinking of buying a house sits around for 6 months, later prices will drop because there will be no market diversion. When you do decide to buy, be selective and negotiate hard.
Yes but DON'T settle up the seller what they want for the house. It is a REAL buyers market at the minute. Haggle haggle haggle on the price.
Prices are set to drop a bit on the other hand - 2.5% last month and could be 10%+ by the end of the year - and mortgages aren't uncomplicated at the moment - don't buy yet unless you have to - dally a few months until the market settles at its lowest or haggle for a bargain.
ive been renting for 2 years now and instinctively - im not looking for a mortgage for at least another year -
Very tough to get a good mortgage traffic at the moment. Personally, I'd sit tight and wait to see what happens over the subsequent 6 months.
probably the worst time in UK history
Yes! It has never be worse apparently. Rent and save then infer of buying when the market picks up eventually.
If I be you I'd get your bank or building society, to set aside you the mortgage...... then wait............ afterwards buy a repossessed property, you will find more are coming on the market soon..... profiting on others misery I know, but if you want to get on the property stepladder, its probably the only financially prudent way
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