I'd be more worried about getting into debt that they might not be able to service, than any impact on house prices.her husband works in hospitality sector and is concerned about how bank will view mortgage approval so wants to hurry this up as she thinks bank could view his employment prospects different now .
I'd be more worried about getting into debt that they might not be able to service, than any impact on house prices.
What kind of timeline have they got on purchase?
They don't have to make a decision really until they get contracts to sign. Things are evolving daily - they'll have a lot more information by the time that comes along.
My concern is about getting my booking deposit back from the estate agent in case they go under.
Should I just leave them be ?
Over the course of half a lifetime it won't matter whether she bought in 2020 or 2022.
But someone buying at last month's prices could well be stuck in negative equity for a good few years like the last time.
The same principles that apply in relation to investments apply here.
Hi Gordon
As Fella points out it's very different.
When you buy shares you pay the price today and conclude the contract today.
Someone who has gone sale agreed on a house is not concluding a contract.
It is very likely that all asset prices have fallen substantially over the last month.
Brendan
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