Should you re-negotiate your purchase?

Almost half of the questions I get at the moment is from people who have negotiated a deal and are moving towards exchange of contracts on their purchase and they’re reading that perhaps house prices may fall after the Pandemic. Time after time during the Live Q&A I did for the FT I was asked “Should the re-negotiate the price?” Some already have but “.. is 5% enough?”.

So, if you were wondering too then here are my thoughts.

Even The Sunday Times is begging to know. Carol Lewis makes the point “Those looking to renegotiate will be more likely to chance their luck by asking for a 30% discount than 3%, I imagine, although I doubt they would take such a hit on their own sale.”.

Unlike the Global Financial Crisis where banks had huge debt issues I expect that this time it will be personal. More from Dan Whitworth.

When should you think about re-negotiating Will Kirkham asked me in This Is Money