Normal to have a panic just before exchange?

[WhatsGoingOnEh]

Been trying to buy this house since January! Perfect location for me, perfect size, lovely inside with great kitchen. Near shops, family, schools, town.

The sellers have had a nightmare so it's fallen through once already. Now at last we seem on the very verge of exchange... And I'm suddenly panicking!

What if the neighbours turn out to be horrible? What if I lose my job and can't pay the mortgage? What if house prices crash and I lose all my money? What if something better comes up next week???

Is this normal???

Perfectly normal!

We moved into our dream house 18 months ago with a hefty mortgage and DP was made redundant three months later. Absolutely worst time ever - I hurriedly made job applications (not easy when you've been a SAHM for 20 years!) and DP was sending out CVs all over the place. I got a job within three months and DP within 5 months, so although we had a major scare, all is well now. Mortgage and bills all sorted and life is back to normal, though of course I am no longer a lady of leisure, but that is now by choice as I really enjoy my job - conveyancing!

Oh no!! Spickle, you poor thing! What a terrifying time that must've been. Especially as house-buying is SO expensive that I expect you didn't have a vast raft of savings to tide you over. Ugh.

As a conveyancer, do you ever encounter buyers have a last-minute wobble?

This is the first house I've ever bought, and I'm absolutely shitting myself this morning. I KNOW why I'm buying this particular house, it ticks every box for me. It's perfect. But ARGH I'm nervous!

Oh yes. Having moved heaven and earth to move on a previous occasion I spent the run up to it in a right tizzy about the mortgage, leaving my lovely little house, moving the cats etc.
It was all absolutely fine. Good luck

Oh I LOVE you for confessing that, Baffled. :) thank you! So happy it's not just me.

Yes, buyers often have a wobble - often when it comes to that point of the whole thing becoming legally binding! When your solicitor phones you to get confirmation that you are happy to go ahead, you think errrr gosh this is it!!!! Back out now or full steam ahead. Pleased to say that very few people actually do back out!!

Good luck - it will be fine and you'll look back one day and be pleased you made the right decision! Sounds like this house is perfect!

Same as wedding day nerves, surely everybody gets them too? Don't they???

It's only the mortgage that scares me. I'm a freelancer, so finding £750 a month, every month, for 22 years, without fail, is terrifying. I know that's not a big mortgage really, but the first time I tried to buy this house (diff mortgage offer, house a bit cheaper) the mortgage would've been £400/month. Which is obviously a lot less - almost half.

This purchase has taken up ALL my savings, ALL the money I made when my ex-H and I split the marital home, EVERYTHING. I'll be moving in with about £1,800 in the bank.

I think I'm going to be sick.

Actually, probably less than £1,800. Probably £1,000.

What the fuck am I doing?!

I made an offer yesterday on a flat (which will probably be refused as rather low) but just doing that i felt so nervous, hardly slept all night. I think the nerves are totally normal!
I hope it all goes smoothly (and i am in the exact same position to you, after splitting with stbxh every single penny is going into this and i am terrified).
it has to be worth it in the end!

Oh Madam - my sympathies! Sorry you're splitting up. It's such a horrible time anyway, and house/mortgage/future plans are so scary tht you must feel the WORLD is on your shoulders.

I've just had to call an emergency summit with my parents (I'm living with them at moment) in floods of terrified tears.

THey reminded me I'm not doing this alone, I have a well-paid fiancé who is moving in with me. Together, finanially, we're laughing. But i have to be able to manage on my own too, just in case.

I just need to channel this terror into practical things - work, budget, work, networking, etc.

house prices won't crash that much. Nice neighbours can leave, so can nasty ones.

job loss is a risk for everyone. Look into protection plans and building up a six month cushion of savings ASAP.

nerves are reasonable, it is not a small amount of money!

as you say; work, budget, work.

Glad to help :)

The mortgage tizzies I had included phoning my mum every other day making her tell me about the time they moved 200 miles to take on a huuuuuge mortgage with 2 dc and literally no money left in the bank. And it was alright.

We've recently bought too, and the day of exchange & transfer of monies literally made me feeling ill with nerves. DH was traveling & I refused to do it until he returned. Not that he was any help at all, but just made me feel less nervous.

Having a few months of mortgage payments ready in the bank always makes a difference. We aren't there yet, but working towards it.

I can't think if the 'losing job' scenario at all as am just starting maternity leave!!! The whole situation is delicately balanced & HAS to work out!

Good luck, it's normal to have these thoughts - otherwise what the fun of buying at all?!

Hate to sound a note of caution, but if your fiancé has paid less than you towards the deposit, please ring fence your money, you probably already know this anyway.

Hopefully it will never matter, but who can tell?

Happy homemaking!

Another one here who is buying alone are separation. I think the decision making in these circumstances is very hard.

In my case I'm terrified that there will be some unforeseen cost that I can't afford, as I will have little in the bank after I have bought the house. After putting the kids through the separation I feel an enormous pressure to make this move positive for them.

Sorry, that should read after separation

Oops, didn't appreciate so many of you were moving on from a split with your husbands. I hope my flippant remark of wedding day nerves didn't cause offence!

Good luck to you all in your new lives.

Perfectly normal. It's your brain's way of processing such a big decision. Keep calm and focus on small things for now. Like what are you having for dinner?