to pull out of house purchase (eu citizen)

(201 Posts)
nicky883 Fri 24-Jun-16 06:24:02

I am an eu citizen been living and working at uk for 6 years
We send our contracts for our first house purchase yesterday. Now am thinking about telling the lawyers to not exchange !
Wwyd if you were in my position ?
Its the first time since i lived here that i dont feel welcome

Inyournightdress Fri 24-Jun-16 06:25:47

Tbh I'd probably leave. I don't even want to stay in this country after the vote so I wouldn't blame you if you felt the same.

3rdrockfromthesun Fri 24-Jun-16 06:28:49

Tbh it is not eu migrants the leave campaign is against. It is refuguees. Plus if you buy a house now or stay in this country then you will have indefinite leave to remain in this country and as will your children. It will take many years for Britain to actually leave the eu

nicky883 Fri 24-Jun-16 06:33:35

I
Have a high skilled job i can probably find a job elsewhere in eu but i have settled here
The reason i am thinking of pulling out is because of a pottential house price fall. I dont fancy being in negative equity
Just so stressed right now dont know what to do!

RaskolnikovsGarret Fri 24-Jun-16 06:37:19

I would escape while you can. If I had a country to go to, I would. I'm
sorry the Brexiteers have put you in this position.

BananaL0af Fri 24-Jun-16 06:42:42

Yes, given a chance I too would leave. So if I were you, I wouldn't buy a house, especially at yesterday's prices.

wowfudge Fri 24-Jun-16 06:43:58

I am horrified by the result. Fix your mortgage rate for a good chunk of time if you decide to go ahead.

HighwayDragon1 Fri 24-Jun-16 06:46:06

Pull out

LokisUnderpants Fri 24-Jun-16 06:46:16

With economic uncertainty in the future I wouldn't make any large purchases especially property. You don't want to end up in negative equity.

nicky883 Fri 24-Jun-16 06:48:32

We have fixed rate for 2 years but i fear we will be in negative equity . We have just send our papers yesterday i was so sure of a remain result
I think i need to inform the lawyers to hold the exchange

Joneseygirl77 Fri 24-Jun-16 06:50:35

Personally I would be inclined to halt the purchase. Markets are already in free fall and the pound has plummeted so not sure this is the time for large binding purchases. The market will stabilise but it'll take time. We are house hunting at the moment and I've said to DH this morning that I'm so glad we haven't put an offer on anything. Really wouldn't want to be tied into any big or new mortgages at the moment as the economy is in for a bumpy ride.

yaaasqueen Fri 24-Jun-16 06:51:10

I'd leave. This country is full of old uneducated white people you're better off elsewhere

Globetrotter100 Fri 24-Jun-16 06:51:42

What part of the country? If zone 1 London over 700k then I assure you no estate agent is expecting your purchase to continue!

FrikkaDilla Fri 24-Jun-16 06:52:22

Pull out. There's going to be a house price crash. The UK needs it to be honest ( a house price crash)

Blueberry234 Fri 24-Jun-16 06:52:57

I would personally halt the thought of what interest rates will do in the next couple of years and I am sure house prices will fall

rosie1959 Fri 24-Jun-16 06:58:54

Lovely as this forum is I suggest you take professional advice
Nobody really knows what is going to happen but we British are good at talking down our economy
And yes I have seen the markets and I was a remain voter

Misselthwaite Fri 24-Jun-16 06:59:28

No way would I purchase a house at the moment. I would pull out too. Sorry about the vote so ashamed of the UK at the moment.

nicky883 Fri 24-Jun-16 06:59:59

We are in surrey so the prices are quite high . Thb i think the whole chain will collapse anw

DesignedForLife Fri 24-Jun-16 07:02:02

YANBU sad

RaarSaidTheLion Fri 24-Jun-16 07:03:05

Don't exchange.

Dollius01 Fri 24-Jun-16 07:03:28

We are also mid-house purchase. We have 40% equity, but we are still considering pulling out. Really don't know what to do....

Homebird8 Fri 24-Jun-16 07:04:33

Absolutely halt the purchase.

Don't feel unwelcome in Britain but do think about using your ability to work elsewhere to make a stable life for yourself. The U.K., or what's left of it will be working out what happens now for years. You don't have to be part of the mess like a lot of people.

If you really want to stay then think about renegotiating the price on the house. You can always tell your solicitor not to exchange for a week or two whilst you find out more and think about it.

TheLambShankRedemption Fri 24-Jun-16 07:09:50

OP you are totally welcome here, whether we are in or out of the EU.

Sorry you are having this stress.

I'm shocked with the result but that's democracy so we will all just get on with it.

SlimCheesy2 Fri 24-Jun-16 07:15:28

Friends of ours (London-based, DH works in the city) put their house purchase on hod weeks ago 'until after the Referendum'. They told me that their REA said a number of people were doing the same.

PaulDacreCuntyMcCuntFace Fri 24-Jun-16 07:16:00

To be perfectly blunt I would pull out of the purchase. If you're in a chain then the chances are that someone in it will be on the phone to their solicitor at 9am today with the same instruction!

Sterling has tanked - no doubt it will recover but I expect there to be a period of volatility. I would expect stock market losses and again volatility there. This will have an effect on house prices - even just because of buyer confidence.

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