Originally Posted by
Maravilloso Marvo
Previously I would have said there never will be a house price crash and my advice would have always been just to go for it as soon as you can.
However, with interest rates rising, there will be a lot of fixed term mortgages coming to an end over the next couple of years that could potentially fcuk a lot of people over and slow it all right down / see a correction.
That's just my view anyway.
Oh and on your point about making a tidy profit on your flat, you are right but when looking to buy something bigger, that profit on your flat actually hurts you. What I mean by that is that you may have made 30% on your £300k flat (£90k) but that £500k house you want to buy has also gone up 30% (£150k). So whilst you made £90k, you are actually £60k worse off when you buy your house...