AIBU to pull out of house purchase at the 11th hour due to reeves

[BeGreatSheep]

We can due to exchange next week and I’m really considering pulling out given the general mess of the UK economy and the potential extra tax that have been suggested. Am I be ridiculous? Husband is team buy.

I think there’s a huge difference between selling your house below market rate and someone breaking what could be a lengthy chain days before exchange @Papyrophile. As someone whose buyer once attempted a gazunder literally the day before exchange, this kind of behaviour makes me really angry.

Do it! Because the housing shortage is suddenly going to be solved. Immigration plus population expansion will stop and thats going to plunge the price of housing because there will be no demand...🙄

I would agree with you @BIossomtoes ... But I also (sort of) get the OP's anxieties. I don't think anyone feels completely confident about buying or selling right now. We are thinking through whether we shall move at all, having been telling the world we shall for two years. We like our house, but would prefer it to be closer to family and friends. But we also have deep roots here after almost 40 years. There is no quick slick answer.

No there isn’t. However, from what I know of you, it would be completely out of character to change your mind just short of exchanging on a house sale. The time for that is long gone in this instance.

No, if we had agreed a sale at a price, we'd go through with it. Panic all around though!

Likewise,I thought it was some kind of beastie infestation 🐜🕷️🦟

It’s me and the seller, no one else. But I get the point. Thanks all. Lots to think about.

Dsis is selling and moving within a 5 mile radius right now and it's really stressful. We'd be moving 200 miles to an unknown area so the stress would be off the scale. At almost 70, I suspect we shan't proceed now. But on the stats, we're both likely to be widows before we're 75, so we may end up pooling what we have anyway and getting on with being old biddies together. I can think of worse fates!

@BeGreatSheep I hope we have helped to clarify your thought process. There's been a fair amount of digressions.

How crass. "I made a lot of money". Unless this stops happening, our children and grandchildren will never be able to buy a home.

It's not crass @ayepecking . It's reality. And it's a long game, and there's no reason to think the markets will be the same when any of our children and grandchildren enter the fray. So we all buy a small nest and hope we shall be able to trade up when we have better jobs and more money.

It’s some people making a lot of money that will enable their children and grandchildren to buy a house. I know two millennials who will have three London houses and about a million quid between them in inheritance. They’re not related to me, incidentally!

Your good decisions made now will help your kids in the future. You may not like the idea, but when the boomers shuffle off this mortal coil, there's several trillions of spondulicks to be spread around among the descendants of the people who thought and planned ahead.

Of course, if you didn't plan and think.........

Due to Reeves? Don't denigrate the woman. Due to the Treasury, fine, but don't sling a woman, trying to do her best, under the bus.

Many many women on Mumsnet are left or left leaning. Many of them are highly educated.

I'm a true floating voter so have no skin in the game, however referring to those adult women as brainless fangirls is deeply insulting on many levels.

These women are grown ups, not girl children. Their opinions have adult weight whether you or I agree with them or not. It is misogyny to equate womens views with those of children. There's also a hefty dose of misogyny in your use of fan girl isnt there? Do you refer to male football supporters as Manchester City fan boys for example?

Coming onto a predominantly female forum and using such sexist terminology is not a good look.

Does that go for all politicians? Or just female ones?

What's the situation if you pull out? There are no guarantees in life - you make the best decision for the circumstances at the time, accepting that things will invariably change and there will be a knock on effect at some point. No one purchases a house just for the fun of it so are you a FTB (remaining in rented being the alternative with very few long term guarantees) or selling and buying for another reason which is needed (bigger house, different location) etc etc. Think about why you are on the cusp of exchanging and re validate the decisions that got you to the point you are now.

She is the Chancellor. That is an incredibly important role. Man or woman - “doing their best”’ just doesn’t cut it.

What more can anyone do but their best? She’s painted into a corner.

She was the one with the flipping paint brush.

We have done exactly the same thing so I don't think you are being unreasonable at all, although we are planning to leave the uk all together. On the other hand, if this is your home, family is here etc and you plan to stay, then maybe a little unreasonable however if you can afford to wait until there is clarity with this new tax and you could save substantial stamp duty, I would hold fire. I guess it depends on how affected you will be by the changes, would you get screwed on both sides? Paying a high amount of stamp duty and then increased council taxes?

I hear you OP. I only managed to buy because I went on antidepressants. I spent over a decade renting purely because the thought of buying stressed me too much. We could comfortably afford a mortgage, but my anxiety was out of control.

If you've had everything checked over in terms of affordability, and your husband is presumably sensible and realistic, then I'd suggest take the leap of faith, trust him in buying, and continue with therapy ♥️

Sorry for quoting you again OP, I just read this. This was 1000000% me before I went on sertraline! 😂😭😂

Assuming you have considered affordability (and reading your messages I'm sure you've checked everything a million times over!) I'll repeat what I said in my previous message. It's the anxiety that's throwing you for a loop, trust your partner who's team buying and buy the house. Be strong ♥️

PS: The minute you get the keys and start moving in, it's such an absolute joy. Then you choose paint colours. For your own walls! Not the landlord's. It's your own house! I am still pinching myself every day 🙃😊

Best of luck