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propertylawyer
propertylawyer, Solicitor
Category: Property Law
Satisfied Customers: 285
Experience:  Property solicitor with expertise in commercial and residential property transactions.
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I'd like to know some information about the right moment to

Resolved Question:

I'd like to know some information about the right moment to buy an house in Uk. Now with the Brexit, there will be some change of course. We are a young couple and we want to buy the first house, is that the right moment or maybe we have to wait little bit more for more cheapest prices?Thanks
Submitted: 1 year ago.
Category: Property Law
Expert:  propertylawyer replied 1 year ago.

Nobody knows with certainty what the impact will be.

Do consider that prices drop when there are adverse effects on the economy, like recessions. In such circumstances it may be more difficult to get a mortgage.

Speak to a few estate agents, if they are honest with you they will say 5hey cannot predict the market (this is what I have been told).

Speak to a few mortgage brokers too. See what they say.

Nobody can say with certainty that prices will drop and if they do it may be that the economy is not in good shape which may make it harder to borrow.

One thing history can confirm is that if the market has dropped it recovers and prices increase. So if you are able to buy now and the price does drop (remember this will be across the board) the price will recover and increase over time.

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