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FTB – shared equity question…
bobmoo79
Posts: 15 Forumite
Hello,
I’m a FTB and am a little confused about how to negotiate with a developer over a shared equity scheme.
Is it possible to negotiate a lower price for the property and then take advantage of a shared equity scheme on that lower price?
Or will the developer insist that if a shared equity scheme is the required deal, it MUST be on the full asking price?
Looking forward to your help!
Many thanks,
Chris.
I’m a FTB and am a little confused about how to negotiate with a developer over a shared equity scheme.
Is it possible to negotiate a lower price for the property and then take advantage of a shared equity scheme on that lower price?
Or will the developer insist that if a shared equity scheme is the required deal, it MUST be on the full asking price?
Looking forward to your help!
Many thanks,
Chris.
0
Comments
-
Yes you can negotiate however you will still only get a mortgage advance on the purchase price.
For example if its 50% shared equity and the purchase price is £100,000 you will still only be able to borrow on £50,000.
You will also still have to raise a deposit on your share.0
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