to pull out of house purchase (eu citizen)

[nicky883]

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

We are supposed to exchange today on our purchase with completion next week. Worrying times.

I would run while I could. I am so sorry that this has put you in this situation.

Definitely pull out. House prices will crash considerably so you'll be stuck there. They were predicting a ten year recession if Leave win so you might be better off moving to an EU country, especially if you have young children.

Skittles are u going ahead with it ?

Skittles, you can always as your solicitor to hold back exchange until after the weekend. This will give you time to think and evaluate your personal risks. Honestly, every seller in the country will understand this....it's an unprecedented time of massive political an economic instability.

Good luck, whatever you decide to do.

Yes I think we will just go ahead with it as long as everyone else in the chain does. We haven't taken on a big mortgage anyways, but if house prices go down then that's what will sting us.

I would get out of here and take me with you - or if you can't take me, at least take my son.

I'm very sorry you feel unwelcome.

I'm in the same position and have been waiting so long to buy this house and move out of my parents' place. I don't even know if the bank will honour the mortgage offer. Some sources predicting a 10% to 18% house price drop.

Does the solicitor tell you before actual exhcange we just send the signed papers yesterday ! why would anyone like this chaos and uncertainty is beyond me !

I would hold back. The weekend is almost here so you need time to see how things develop for the pound in your pocket, the interest rates etc. Uncertain times were forecast if we left and so now every pound you have has to stretch further. Everyone involved will be trying to cover themselves for what is to come so you wont be the only one.

You need to speak directly to your solicitor and confirm in writing, by email with read and receipt notices.

You need to do this urgently. A good solicitor should ask for verbal confirmation on day of exchange but you cannot risk this being omitted.

I think you should halt the purchase, these are extraordinary circumstances.

At the very least, try to renegotiate a lower price. Sterling as fallen 20% over night.

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.

What on earth do you mean by that?

Are you British? Because (for a while at least) you can still go anywhere in the EU you like. That's the whole point of it, isn't it? It's not just a one way street. Take your pick. Go and settle in Poland or Bulgaria now while you still can. Learn the language, get a job, put your children in school there, embrace all the positives.

I would strongly suspect a drop in house prices. I would pull out and you may even be aboe to negotiate a much lower price. Too much uncertainty. It is very sad times for the UK.

I would expect that there will be a significant house price dip or crash now, so I'd pull out if you have the chance.

You are still very welcome OP.

I don't know what the economical implications are, but as long as you have a buffer to weather a potential financial storm, stay. Or stay but find a cheaper property?

Was made an offer for a job elsewhere internationally but thought we would be settle here maybe i should be callingn them back ?
We only have 10% deposit on the property and is not our dream house we were thinkig we would be selling it in 5 to 6 years just didnt fancy throwing money away in renting !i will be senting an email now to the solicitor to hold the exchange

Run for the hills!! What had been predicted in case of a Leave result by the Remain campaign is starting to happen and it's not going to get better.
If you can find a job elsewhere, go! I'm an EU citizen, settled here and I'm thinking of uprooting. This is not the welcoming country I arrived in 14 years ago. Things have turned and not for the best unfortunately. When Marine Le Pen is happy about an election result, you know it's nothing to be proud of!

yaasqueen really? Old, white, uneducated people? How educated do you have to be to make such a fatuous statement?
The result is very worrying and sad but I doubt the rest of Europe will be stable in the years to come. The impact won't stop here.

I've been in negative equity it limits your choices. I'd pull out.

It sounds like you know what to do. Best of luck to you.

I think the whole chain will do the same anw .
Now i will have to tell our estate agents we are not leaving ! They wont be so happy !

I am currently in neg equity. Have been stuck since 2008 (bought 2006) and it was looking like we might just be able to break even and move next year. It's very likely we'll be stuck here for another God knows how many years now

I would pull out or at least delay. If you are in a chain, it will perhaps collapse anyway so the decision may be made for you.

I doubt you'll be the only one telling your agents this morning!