Current Bank of England Rate 0.5 - UK Current Inflation 3.7

This tip isn’t intended to be flippant.  Buying a house regardless of whether you have done it before or not is daunting.

The UK property market system is for and against you.  Legislation that protects you also requires you to spend a lot of money is system that in all truthfulness only favours the UK tax system.

Putting estate agents and solicitors to one side the house buying process is painful, from assessing how much capital you can borrow to how much the house you like is worth to agreeing the price and then giving the go head to buy.  Giving the go ahead to buy the house for the price you agree is the legal part that mistakenly for most buyers believe makes them the owner of the property.

Wrong, you are not the owner of the property you are the proud owner of debt.  The deeds of the house remain in the safe hands of the lender and until the debt has been paid off you do not get your hands on the deeds of the property.  You have played monopoly yes?

The game where you buy and sell houses will or should enlighten you to the process of creating happiness and tears all within a few hours.

So here is the tip.  Unless you have pots of cash to buy a house outright or have a big enough deposit to make buying a house the same as renting a cheap home do not buy a house in the current market.

Buying a house during 2010, 2011 and the early part of 2012 is for those who have lots of cash and can afford to loose money, property prices during the next 2 years will plummet another 15% at least so do you want to give away 15% of your hard earned cash?

Estate agents are encouraging house sellers to reduce the price of property on the market to make their life easy, after all an estate agent not selling is an estate agent making no money!

DO NOT LISTEN TO ESTATE AGENTS they are there to take instructions from you if you are a seller and not desperate to sell do not sell.

House Prices