Reply to: Premier Property Lawyers Conveyancing

[heyya99]

Actually, the point I was making was that nobody can predict the future (not even SueEllen after a glass or two of the grape juice. )

But me? If I were looking to buy a property now - which I'm not - I'd be looking for at least 30% off what have clearly become unsustainable, cuckoo-land prices in the last few years. ..And I felt that way before the s**tstorm of leaving the EU came into play. Now, I'm just going to bide my time and see how things pad out (easy for me to say, as I have access to a fabulous, cheap rental property; your situation may be very different however.)

So I'm actually agreeing with the sentiment expressed by SueEllen, but I believe that that brief "two years" of negative equity may well turn into ten or more. But hey, that's just me trying to predict the future.

I am in no hurry to buy, bar just getting it over with. The reason I stepped up my search pre-Brexit was that I wanted to take advantage of the jitters and agree a price below asking (which I did) and not have to compete with everyone else who waited, as prices go beyond my reach.

I'm now in the situation where I can relax, as prices aren't going to go beyond my reach anytime soon. I have told my agent that I'm withdrawing on the agreed price but would be willing to listen if Brexit was factored into the price. I suspect that'll be a no (or not enough of a drop to persuade me) and I'm content wth that.

[SueEllen]

To be fair I was thinking of the 90s recession which lasted more than 2 years not the most recent one which hardly effected London.

All the people I know who had problems either walked away due to the rules then, or have paid down their debt from selling/handing in the keys too late after the rules changed due to house price inflation.

However no one can predict when bubbles will burst. One of the reasons I said talk to real people as they will look stressed when they tell you their tales of that time and tell you the things that sent them over the edge.

I was actually at school then and am related to people who issues then so certain things were drummed into me such as not buying properties of specific sizes.

[nomadd]

No you didn't. You were pulled up on making a silly post and are using me as an excuse.

Actually, the point I was making was that nobody can predict the future (not even SueEllen after a glass or two of the grape juice. )

But me? If I were looking to buy a property now - which I'm not - I'd be looking for at least 30% off what have clearly become unsustainable, cuckoo-land prices in the last few years. ..And I felt that way before the s**tstorm of leaving the EU came into play. Now, I'm just going to bide my time and see how things pad out (easy for me to say, as I have access to a fabulous, cheap rental property; your situation may be very different however.)

So I'm actually agreeing with the sentiment expressed by SueEllen, but I believe that that brief "two years" of negative equity may well turn into ten or more. But hey, that's just me trying to predict the future.

[northernladuk]

We are doomed I tell thee, dooooooomed.

[heyya99]

You seem to be purposely extracting meanings about what I didn't say.

You were told before to talk to real world people you know as some will know you and/or the area you are buying in better than random people on this forum who have never met you and don't know anything about the area you are buying in.

Every person I know who has brought property has talked to and asked real live people. Even if it is something simple such as discussing parking, what was on the land before, issues with flats, etc.

And that's sound advice but I was hoping to gauge the confidence of the contracting community re-contract uncertainty after Brexit, hence the questions here.

[SueEllen]

Why would I not ask contractor-related questions on this forum?

You seem to be purposely extracting meanings about what I didn't say.

You were told before to talk to real world people you know as some will know you and/or the area you are buying in better than random people on this forum who have never met you and don't know anything about the area you are buying in.

Every person I know who has brought property has talked to and asked real live people. Even if it is something simple such as discussing parking, what was on the land before, issues with flats, etc.

[heyya99]

Good - then have a talk with them instead of asking questions on the forum.

Why would I not ask contractor-related questions on this forum?

[Tasslehoff]

I'm going with Contractor Mortgages Made Easy for my mortgage and they have recommended Premier Property Lawyers for the conveyancing.

Has anyone experience with this firm? Or alternatively, recommend a London-based firm?

Foxtons are recommending Conveyan.

Please for the love of god, go with a proper firm.

I just had been with CMME and they were fantastic, top notch really really good.

PPL however nearly drove me to an early grave.

I could give you a blow by blow, but I fear it would spark some kind of PTSD.

FOR THE LOVE OF PETE DON'T.

[SueEllen]

Plenty

Good - then have a talk with them instead of asking questions on the forum.

[heyya99]

So you don't know anyone who brought a property, expanded their family, wanted to sell and found it was in negative equity so couldn't afford to?

Plenty

[SueEllen]

No you didn't. You were pulled up on making a silly post and are using me as an excuse.

So you don't know anyone who brought a property, expanded their family, wanted to sell and found it was in negative equity so couldn't afford to?

[heyya99]

As the OP doesn't have a clue I thought it would be a good idea to warn him off that studio flat.

No you didn't. You were pulled up on making a silly post and are using me as an excuse.

[SueEllen]

Amazing.

Crystal.

Balls.

As the OP doesn't have a clue I thought it would be a good idea to warn him off that studio flat.

[nomadd]

So as long as you can cope living in it if it has negative equity for a couple of years and can fit in if your family expands, buy it.

Amazing.

Crystal.

Balls.

[SueEllen]

I haven't went through the mortgage lender valuation bit yet. Is it possible that the lender would downgrade my valuation if they think prices will soon drop?

The lender can downgrade the value but the vendor doesn't have to sell it to you.