Hi All
I am in the process of buying a house at the moment. We are living in rented accomodation and have been given 2 months notice to quit by the landlord as he has got planning permission to develop the land so we have to move soon.
With all the uncertainty in the banking world at the moment I am not convinced that now is the right time to buy a house and am getting cold feet. The last thing I want is for mortgage rates to spiral, or for house prices to crash which has been predicted for some time now but is getting scarier for me because of what is happening with Northern Rock etc.
The house that we are planning to buy is in good condition but owned by a pensioner so needs a bit of modernisation - new kitchen, bathroom and redecorating but structurally is fine. We negotiated 7k off the asking price in view of the work needed.
What would you do??
I am in the process of buying a house at the moment. We are living in rented accomodation and have been given 2 months notice to quit by the landlord as he has got planning permission to develop the land so we have to move soon.
With all the uncertainty in the banking world at the moment I am not convinced that now is the right time to buy a house and am getting cold feet. The last thing I want is for mortgage rates to spiral, or for house prices to crash which has been predicted for some time now but is getting scarier for me because of what is happening with Northern Rock etc.
The house that we are planning to buy is in good condition but owned by a pensioner so needs a bit of modernisation - new kitchen, bathroom and redecorating but structurally is fine. We negotiated 7k off the asking price in view of the work needed.
What would you do??