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Barratt Dream Start Mortgage??

CSWB
CSWB Posts: 3 Newbie
in House buying, renting & selling
Hi there

I have a question for all those who have bought a new-build property via this scheme......

Who did you take your mortgage out with for the 75%? I am having difficulty finding a lender who will accept the 25% deposit that Barratt pay as a 'proper' deposit. :confused:

Thank you!
«13

Comments

  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    Part of the Furniture 10,000 Posts
    CSWB wrote: »
    Hi there

    I have a question for all those who have bought a new-build property via this scheme......

    Who did you take your mortgage out with for the 75%? I am having difficulty finding a lender who will accept the 25% deposit that Barratt pay as a 'proper' deposit. :confused:

    Thank you!

    I wonder why?:rolleyes:
  • CSWB
    CSWB Posts: 3 Newbie
    Thanks for your reply, but surprisingly that's not much help!

    I wasn't asking for people's opinions on this.... i'm asking for responses from people that are on the sheme.

    And before people start telling me not to do it, it's not actually me that is thinking of it! I'm just curious about which lenders will agree to it because i'm a trainee mortgage adviser and i have heard about this scheme several times in the last few weeks....

    Any help would be greatly appreciated.

    Thank you.
  • stevetodd
    stevetodd Posts: 1,016 Forumite
    CSWB wrote: »
    Hi there

    I have a question for all those who have bought a new-build property via this scheme......

    Who did you take your mortgage out with for the 75%? I am having difficulty finding a lender who will accept the 25% deposit that Barratt pay as a 'proper' deposit. :confused:

    Thank you!

    Can't Barratt help? Surely it would be in their interests to have this info handy
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    Part of the Furniture 10,000 Posts
    Because lenders want to see people putting their own money into a property.
  • Cat695
    Cat695 Posts: 3,647 Forumite
    Because CSWB the banks don't like lending money on overpriced rubbish....certainly now

    New builds are right up there with flats that are going to take the biggest hit with the falling house prices.

    And because of the current situation would you lend to someone who hasn't got their own deposit??

    I have seen one mortgage company (not high street bank) that was still doing 100% mortgages however you had to buy the house in the midlands....and live in it (not BTL) and some other stuff also that you had to conform to.

    Have you tried the FSA website?? http://www.fsa.gov.uk/tables/bespoke/Mortgages
    If you find yourself in a fair fight, then you have failed to plan properly


    I've only ever been wrong once! and that was when I thought I was wrong but I was right
  • Incisor
    Incisor Posts: 2,271 Forumite
    1,000 Posts Combo Breaker
    CSWB wrote: »
    Thanks for your reply, but surprisingly that's not much help!

    I wasn't asking for people's opinions on this.... i'm asking for responses from people that are on the sheme.

    And before people start telling me not to do it, it's not actually me that is thinking of it! I'm just curious about which lenders will agree to it because i'm a trainee mortgage adviser and i have heard about this scheme several times in the last few weeks....

    Any help would be greatly appreciated.

    Thank you.
    And you want help on this? Listen up! You are going to collude in doing some fairly serious financial damage to anyone for whom you can get a mortgage on such a scheme.
    After the uprising of the 17th June The Secretary of the Writers Union
    Had leaflets distributed in the Stalinallee Stating that the people
    Had forfeited the confidence of the government And could win it back only
    By redoubled efforts. Would it not be easier In that case for the government
    To dissolve the people
    And elect another?
  • CSWB
    CSWB Posts: 3 Newbie
    I telephoned Barratt (as though i was interested in buying) and they wouldn't tell me which lenders will give a mortgage.
    They just kept saying i should go through their financial adviser who can arrange it for me!
    The thing is, i am totally at a loss as to which lenders will even agree to this! And by the looks of it, some are - I'd really like to know which ones but without ringing round every single lender, i thought this was the quickest option. Because whether everyone agrees with it or not, it is becoming a popular incentive scheme.
    If people are on this scheme and it works for them, then great. I'd really like someone that is to answer me though please! Rather than everyone completely bad-mouthing the idea and preventing them from posting.
    Thanks.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    The point of them going through their mortgage advisors it that they are keeping the commission for themselves.

    Another sign that it's a bad idea.
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Why did you pretend you were a buyer, why dont you just ask them upfront?
  • Incisor
    Incisor Posts: 2,271 Forumite
    1,000 Posts Combo Breaker
    CSWB wrote: »
    ... If people are on this scheme and it works for them, then great. I'd really like someone that is to answer me though please! Rather than everyone completely bad-mouthing the idea and preventing them from posting.
    Awwww, they're all too shy. Nobody is stopping them posting.
    After the uprising of the 17th June The Secretary of the Writers Union
    Had leaflets distributed in the Stalinallee Stating that the people
    Had forfeited the confidence of the government And could win it back only
    By redoubled efforts. Would it not be easier In that case for the government
    To dissolve the people
    And elect another?
This discussion has been closed.
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