House Buying

[vik845]

Hello,

Planning to buy my first house not sure if it is a good time. Will the interest rate fall down, will the market crash...

Your thoughts please...

Thanks,

[ChimpMaster]

Hello,

Planning to buy my first house not sure if it is a good time. Will the interest rate fall down, will the market crash...

Your thoughts please...

Thanks,

Yes, tomorrow.

Possibly.

[MrMarkyMark]

I'm sure a whole host of CUK Mystic Megs will be along shortly

[northernladuk]

Yes, tomorrow.

Possibly.

No, a week next Saturday.

Possibly but depends so maybe not.

HTH

[doconline]

Hello,

Planning to buy my first house not sure if it is a good time. Will the interest rate fall down, will the market crash...

Your thoughts please...

Thanks,

Interest rates may well come down, but not by much. BOE base rate is already very low and may come down .25% in the near future. I don't think this is going to make much difference to your mortgage rate really, as rates are already very low if you have a reasonable deposit. Don't think the market will crash, but may move downwards slightly. Too many factors to know your situation., such as where are you looking to buy / type of house etc. Also, don't forget that until you exchange contracts you are not tied to anything (if iin England or Wales, Scotland is different). If the market moves down significantly in your area before you exchange (usually 8weeks+ in England / Wales) you can always change you offer based on market movements.

Whether it's a good time or not depends on you and your preferences. Personally I would prefer to buy my own place than pay rent to someone else. In the long term, chances of your property being worth less than you pay for it is very slim. Another way to look at it is how much would it cost you to rent / buy a similar place. If it isn't a massive difference surely it's better to buy than rent (as long as you don't buy a money pit), as you will be paying off the principal rather than rent to someone else?

[original PM]

nah

Now that we will have a new PM before September and so there can at least be some planning done prior to the August MP holiday I think we shall see a slight strengthening and then stabilising of £ and so will be BAU going forward.

[FatLazyContractor]

Why buy a house when you could rent it from MF?

[MrMarkyMark]

FTFY

Why buy a structurally unsound hovel when you could rent one from MF?

[FatLazyContractor]

FTFY

Last heard, Suity was sorting the radiator pipes out.

[Mordac]

Hello,

Planning to buy my first house not sure if it is a good time. Will the interest rate fall down, will the market crash...

Your thoughts please...

Thanks,

It'll all be fine, there are no issues which might adversely affect you, but make sure you have all your dosh in Malawian Kwachas, which as we all know is completely immune to fluctuation.