In the same position as many, i have a mortgage lined up at 6.59% which they will hold until November for me, plus a deposit and i'm a first time buyer!! Prices are dropping around my area gradually (Chelmsford / Wickford) but as with everyone else i'm still wairy about buying now. All of the houses that were £250k 6 months ago are now down to around £220k but i still feel they are going to drop more. I've been advised that so long as the offer / offers you put in on houses are a lot lower to compensate further price drops you should be ok. One property i'm very interested in was up for £250k, they said they will accept £220k but i put an offer in of £205k last month which they turned down. Not one other person has viewed the house so fingers crossed in the next month or so i'll put the offer in again and they may accept!! (or if the prices have susbtantially fallen over the next 2 months i'll go lower!!

Chris