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Should I brace myself? :(

7 replies

Kittypillar · 13/05/2020 10:18

So now the housing market restrictions are slowly lifting, we've had a call from our solicitor to say that our seller in the chain was chasing to see if we still want to proceed. It's a small chain, with just us in the middle, our seller (property is ex- rental and currently empty) and our buyers, who are investors. It was fairly early in the process, so structural surveys haven't been completed.

Buyers survey on our house was literally due to happen days after lockdown was announced. The whole process has obviously been frozen since then. I spoke to our estate agent today who said he is still furloughed but will be contacting them when he goes back next week.

In my head, it's already a dead duck unfortunately Sad I just can't see, as they're investors and the property market looks so uncertain right now, that they'd want to continue. DH is trying to remain optimistic but I'm feeling really glum about it all. We do need to move for space really (baby no2 is due imminently) but I just don't know how we'll manage that any time soon now.

Not sure what the point is to moaning as no one can really see into a crystal ball, especially for something as unprecedented as this. I just feel really glum and wanted to vent I think Sad positive thoughts or reality checks equally welcome. I know there are far worse things we could be worrying about right now but I'm struggling to give my head a wobble today...

OP posts:
DeeplyMovingExperience · 13/05/2020 10:25

There's lots of us in the same boat. I think just keep the faith and hope that you are dealing with reasonable people. Some people won't be able to proceed, and others will be just as keen as they were before. Fingers crossed!

Kittypillar · 13/05/2020 11:41

@DeeplyMovingExperience thank you. I'm keeping all my fingers crossed that we do somehow manage to pull it out of the bag. I think I'm finding the uncertainty of this whole current situation particularly draining anyway, let alone when I consider the long term implications like this. Hope all works out for you too if you're in the same position.

OP posts:
ChrissieKeller61 · 13/05/2020 12:20

Halifax are asking for 15% deposits now ... I assume that was 10 a few weeks ago ? I feel sick about the whole thing tbh

Kittypillar · 13/05/2020 14:34

Oh gosh @ChrissieKeller61, I hadn't seen that Sad suspect they won't be the only ones who do that...

It all makes me feel sick too. Can't seem to snap myself out of it today. I have absolutely zero control over the situation but I'm really taking it to heart.

OP posts:
Eeyoresstickhouse · 13/05/2020 15:53

Halifax actually went to wanting 40% deposit a fee weeks ago. Others soon followed suit. That has changed slightly and we have got an AIP with a 20% deposit so it will change.

HappyDinosaur · 13/05/2020 15:57

I don't think it's going to be as bad on the housing market as some are expecting. The banks are still keen to lend at the moment. Most seem to be predicting a very short drop or even just a slow down. People will always need somewhere to rent or buy though.

ESpressoNotEXpresso · 13/05/2020 17:44

Our buyers are also investors OP and they called a couple of weeks back to check that we still wanted to go ahead, which we did. I wasn't worried by the chasing. We did the same with our sellers.

It sounds to me like they're just checking in. If they wanted to pull out, my guess is they would have done by now.

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