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Scared my chain will now collapse with bloody unbelievable Leave win!

(31 Posts)
Howaboutthisone Fri 24-Jun-16 06:10:13

So scared about what this result means generally for the country. I'm also terrified that our sale and purchase won't happen now. Valuation booked on house we're buying this weekend. Our mortgage is being processed. Buyers were waiting on their advisor getting back from holidays on weds to get their mortgage sorted. Not sure when valuation of our house will be. They have a cash buyer. Is it all likely to go wrong now?!

LIZS Fri 24-Jun-16 06:33:59

I doubt there will be any immediate impact on housing market or lending unless they are overseas buyers.

Figgygal Fri 24-Jun-16 06:36:29

I'm with you the house move our lives have been on hold over for the last 7 months is too risky and I'm going to have to pretty much make homeless the tenants that were moving into our house when we vacated as we can't now leave.

Unbelievably dh still asleep so I've had 3 hours to think this through we going to have to pull out.....maybe the mortgage company will do is a favour and withdraw offer and then it won't be our decision

apoorna Fri 24-Jun-16 06:50:30

I am in a similar situation and just hoping the mortgage offer is pulled out. If the market is so unstable, we can't alone act like it is all business as usual. If the prices agreed are pre brexit prices, there are chances of ending up in negative equity which is not a great prospect for the bank either.

BoyMeetsWorld Fri 24-Jun-16 06:56:11

We're worrying about same thing. Trying to decide whether to proceed with purchase (though we don't know if our buyers will pull out anyway). V worried about negative equity, esp as we have paid a bit over the odds. Our thought though is that the mortgage valuation will come back saying they can't go to that if they're in any doubt then we can renegotiate and the seller would likely in be same position with any buyer at the moment. Do mortgage valuers come back telling you how much they DO think the property is worth in the current market or just give a flat out no?

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

We were due to exchange today. I will postpone until Monday and take the weekend to think about it.

This is a disaster and without wanting to be divisive, a big hug to my fellow Remainers.

Skittlesss Fri 24-Jun-16 07:14:30

Help - we are due to exchange today as well.

I didn't vote for this and it's making me feel sad sad

helpbuyingahouse Fri 24-Jun-16 07:19:20

Skittless what will you do? My solicitor has the deposit money is it safe?

I am someone with a very cool head but Brexit might make me lose my job. Big mortgage and everything. I am completely panicking now.

I asked my solicitor to check if the bank is still lending I will let you know.

Skittlesss Fri 24-Jun-16 07:22:40

Well I think we will just go ahead if everyone else in the chain is, but we haven't taken on a big mortgage, so hoping that won't be too bad. Just the thought of house prices coming down is worrying though.

God I hope you don't lose your job. That is awful sad

scaredofthecity Fri 24-Jun-16 07:43:49

We're ftb due to exchange in a few weeks. Our circumstances mean we really can't delay and I'm shitting myself sad
It was a massive faff for us to get our mortgage agreed and I'm petrified it's going to be withdrawn.
Man what a day to exchange, hope it all works out for the best for you.

Skittlesss Fri 24-Jun-16 07:56:33

To be honest our vendors have messed us about so much I'm wondered if the delay has been to see the outcome of the referendum. Though the male vendor voted out so I blame him. (FB stalked him)

apoorna Fri 24-Jun-16 10:28:10

I am due to exchange this weekend but I will wait and think over it in the weekend. The house builder stocks have fallen by 40% this morning so we need to think over this. It's just so not expected brewsad

Howaboutthisone Fri 24-Jun-16 10:42:31

I want to go ahead. I don't want the market to stop us/anyone in our chain. So scared!

SnakeWitch Fri 24-Jun-16 10:55:40

In the same boat, we signed the contract ages ago and we gave the deposit to the solicitor yesterday so I hope everything goes ahead and we formally exchange.

We should be ok I think, there isn't a FTB in our chain as we broke it and the FTB is now in our old house while we are at my parents (who voted out and will not be told that the economy and housing market most likely will be negatively affected angry ) so we all still need a house to live in! I feel like my entire life is up in the air and I feel a bit tearful. Silly, I know.

Fingers crossed for us all. So stressful under normal circumstances, cheers for throwing all this in the mix too, Cameron!

dynevoran Fri 24-Jun-16 12:02:52

We exchanged yesterday with a 22 July completion date . we are now trying to bring this forwards and give them right to remain til 22 July so we can quickly request funds from Santander before they change their lending criteria.

helpbuyingahouse Fri 24-Jun-16 12:18:16

Could banks actually change their lending criteria once you have a mortgage offer? I am as scared as anyone else but there is a contract and I don't think it is possible.

Oogle Fri 24-Jun-16 13:04:56

Are Santander going to change their lending criteria? My mortgage application went in with them yesterday.

Shit.

dynevoran Fri 24-Jun-16 14:37:32

They can change their mind for any reason. There just seems like so much uncertainty i wouldn't be surprised if they did so we are trying our best to move things forwards to mitigate this risk.

I have no information to state they will ....this is just my gut reaction to the perceived risk. Don't want to unduly worry anyone but be cautious i think is sensible.

dynevoran Fri 24-Jun-16 14:39:11

oogle please let me know how you find them. Unfortunately help there is no contract until completion so they can do what they want. Scary stuff!

HeartsTrumpDiamonds Fri 24-Jun-16 14:40:55

I found out at about 11.30 this morning that our buyers have pulled out. We are screwed.

Terrible consequences for the country, and terrible consequences for us.

HeartsTrumpDiamonds Fri 24-Jun-16 14:41:21

We were due to exchange on Monday.

PurpleDaisies Fri 24-Jun-16 14:46:14

I'm really worried about finding a buyer for our house-we had one but lost them a couple of weeks ago due to mortgage issues on their side. We have to move to start new jobs in September. This is a bloody nightmare. We're definitely going ahead with our purchase if we can find a new buyer-it's our forever home so if we can get in it it doesn't matter too much if we don't get a fantastic deal.

This uncertainty is horrible. flowers and wine for everyone stuck waiting to see what happens...

Oogle Fri 24-Jun-16 15:37:03

Oh Hearts. I'm so sorry.

Dyne, I'll let you know as soon as I hear anything.

I'm terrified my buyer is going to pull (first time buyer). I cannot wait to get home and pour a gin.

nicky883 Fri 24-Jun-16 16:08:40

Ftb here was due to exchange today but delayed it will jave to think about it over the weekend and maybe ask for a reduction in proce to mitigate the risk

Howaboutthisone Fri 24-Jun-16 18:16:06

Oh hearts- I'm so sorry to hear that. What a nightmare. I think some Leave voters are now realising what some of the consequences will be and it doesn't seem so rosy now. Shame it's too late now angry
I hope that you find another buyer as soon as possible.flowers

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