London Property, Brexit, Chain's Breaking

[LanaLeder]

Just a thread to share experiences of what now?

Was in the process of buying a flat with my sister in London, the chain has completely collapsed. We still wanted to go ahead with the purchase, but the vendor has pulled out.

Not sure what do now? I am sure prices will fall (by how much, who knows), but there probably won't be much on the market to choose from and the mortgage market itself may move against us making it harder to purchase.

What is everyone else doing currently involved in buying/selling London property?

"I want people to be able to afford homes (yes, even in London!) but we need wages to go up and a booming economy for that. Not repossessions, negative equity and deep recession."

My wages haven't gone up in years, in fact they have gone down with inflation. If prices stay the same I will be dead before I can buy the way wages are going up.

I'm glad house prices are going to fall back to normality. Even if prices fall existing owners had big deposits to protect them.

We should ban buy to let landlords and foreign investors buying up all the homes.

How kind of you betty. Most people save and save to get that deposit you'll happy see them lose. It's not just magic money that they don't ever need again.