Reply To: Farewell message from ‘Charlie’ and ‘Sofia’


Claire. 🙂
Correct and that is a consideration that each must make on an individual basis.
Developers will indeed start go go bankrupt in the very near future and each must decide on what they consider the best option for them.
As you say they ARE going to loose anyway so they may consider taking out an interest only mortgage and completing as at least they are the holders of the property documents.
This may now prove more difficult now that credit is much harder to get but that was their decision not to have completed in some cases by listening to advice they they chose to take.( they will again have no one to recue them,sad to say)
Completing, they decide if they want to rent/sell/keep as a longer term investment,holiday home.(they may feel happier that they have something tangible and not just a document and a deposit relating to somone elses property)
It will depend on price paid and variuos issues regarding each property/each development and each area.
More important as everyone should seek independent advice the advice given may vary even on the same development.
There is no doupt that to much advice is on a one fits all senario in to many medias and this can only be bad.

Frank 8)