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  • FIRST POST
    • Martin8870
    • By Martin8870 7th Dec 17, 4:30 PM
    • 8Posts
    • 2Thanks
    Martin8870
    Buying a off plan Bellway new build
    • #1
    • 7th Dec 17, 4:30 PM
    Buying a off plan Bellway new build 7th Dec 17 at 4:30 PM
    Hi this is my first post, I have read lots on this website in regards to what Iím about to ask but thereís a few more quitions I canít find answers to.

    We are first time buyers and about to reserve a plot (house not yet built) Iím presuming this is called ďoff planĒ they have said the are willing to offer 3% of the house value in incentives the cost of the house will be £213,995. We are also considering buying the freehold which will be an aditional £4,260. They want £500 for the reservation fee, the house is due to be complete by 21st March 2018.

    Questions,

    Will they offer more than 3% of incentives or is it not worth asking for more?

    Is it beneficial to purchase the freehold?

    When we pay the reservation fee, how soon before we need to pay for Solicitorís, conveyancers, mortgage feeís etc

    After all the checks etc have been done ie conveyancers and Solicitorís what are the chances of the mortgage be declined?

    Input with Experiences with Bellway would also be appreciated

    Thank you
Page 1
    • knightstyle
    • By knightstyle 7th Dec 17, 5:28 PM
    • 4,485 Posts
    • 1,650 Thanks
    knightstyle
    • #2
    • 7th Dec 17, 5:28 PM
    • #2
    • 7th Dec 17, 5:28 PM
    Hi, hope all goes OK for you but make sure the option to purchase the freehold is in the contract when you pay your deposit.
    You will be lucky to get any movement on the price but bargain hard to get things like floor coverings, garden paving a good size area, turfing, small extras in the house electrics such as extra TV points, sockets etc.
    Try for upgrades as well in the floor coverings and kitchen appliances.
    Having negotiated hard make sure the builders actually do the upgrades during the build and check the actual plot against the drawings.
    Lots to work on so good luck and enjoy these exciting times.
    • Martin8870
    • By Martin8870 7th Dec 17, 8:01 PM
    • 8 Posts
    • 2 Thanks
    Martin8870
    • #3
    • 7th Dec 17, 8:01 PM
    • #3
    • 7th Dec 17, 8:01 PM
    Hi thanks for your reply knightstyle

    Yeah we have a big list of what we would like but wether we get it or not is another matter... i think my main concern about it all is getting knocked back by the underwriters at the last minute, we dont know much about off plan so not sure how long it takes to swap contracts

    Does swapping contracts mean the money has been given to to builders and everything is all good? We just then have to wait for the house to be built??

    Thanks
    • Mutton Geoff
    • By Mutton Geoff 7th Dec 17, 8:28 PM
    • 993 Posts
    • 1,028 Thanks
    Mutton Geoff
    • #4
    • 7th Dec 17, 8:28 PM
    • #4
    • 7th Dec 17, 8:28 PM
    are willing to offer 3% of the house value in incentives the cost of the house will be £213,995. We are also considering buying the freehold which will be an aditional £4,260
    Originally posted by Martin8870

    £4,260 is exactly 2% of the house price. Suspicious way to value a freehold. And they offer you 3% "incentives". Sounds like taking with one hand, giving back with another.


    You should not be buying a leasehold house. Please read all the adverse press about this. I'd be negotiating for a freehold house for the asking price and £5k incentives, carpets, tiles, turf, wallpapering etc. If they have a show home or "computer generated image", then ask them to decorate and furnish it like that for the asking price ;-)
    Compensations/Refunds from Banks & Institutions - £4,165 | Stooz Profits - £7,636 | Quidco - £4,014

    All with a big thank you to Martin and MSE.com from Mutton Geoff!
    • Martin8870
    • By Martin8870 8th Dec 17, 12:58 AM
    • 8 Posts
    • 2 Thanks
    Martin8870
    • #5
    • 8th Dec 17, 12:58 AM
    • #5
    • 8th Dec 17, 12:58 AM
    Fancy that, i didnt even think to work that figure out, im suppose to be going in tomorrow to reserve the plit so il be bringing that up and seeing what they have to say.

    Yeah ive read alot about the stories of leasehold and i dont like the sound of them, i just wanted personal opinions about it from people who have experienced owning a freehold property vs leasehold

    Cheers
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