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New Build - Deposit on Consluding Missives
LB25
Posts: 57 Forumite
Has anyone paid a deposit to a builders on conclusion of missives? We've already paid £500 to Redrow and they want another 1.5% on the conclusion of missives. Our solicitor doesn't think we should pay this but I'm worried Redrow will insist.
Does anyone have any experience of this?
Thanks!
Does anyone have any experience of this?
Thanks!
0
Comments
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Has anyone had any experience of this?0
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Take advice from your solicitor. It's what you're paying them for.0
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Is the house already finished? Before you conclude the missives PLEASE read the posts on this forum of people who waited more than a year for their house to be finished, so their mortgage offer expired, they couldn't get a new mortgage offer and they are now facing bankruptcy. There are many such posts on the forum. BEWARE.0
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Yes, this is normal practice with new builds. You're lucky its only 1.5%. Most want anything from 2.5% - 10%.
I'd be very careful purchasing a new build at the moment though, check out some of the other post particularly the following involving Redrow: http://forums.moneysavingexpert.com/showthread.html?t=1575967&highlight=redrow0
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