new build homebuy

mrpete

hi,

anyone bought a house on a new build homebuy scheme?
http://campaigns.direct.gov.uk/ontheladder/index.html

are they hard to get? i spoke to someone (not that i really trust they know what they're talking about) and they said it was pretty hard to get an "application" through, you have to prove you can't get a house easily without it

Wickedkitten

if you do a search, you will find plenty of people who have done it

amberlindsay

Hi,

I would be cautious about going with any 'new build' schemes in this current climate. In our area (Cambridgeshire), the new build house prices are still artificially high - for example, you could buy 50% of a 2 bedroom house for 105,000; but if you look on the open market for your average 2 bedroom house, they do not cost anywhere near as much as £210,000!

Also, many of the development sites for new builds have not been finished; the developers are trying to cover all of their costs and will not start building the houses until they have sold every plot. When we started looking into the scheme last year, I asked how long it would take for the house to be built and they said they didn't know - you could be waiting around for an awfully long time or living on a builiding site for the first few years.

That said; I'm no expert (just past experience talking) and I do think they are a good scheme when all else fails, but just do your reaecrh first and be aware of the pitfalls.

Good luck!

Amberlindsay

JonnyNewBuild

I'm in the process of buying a flat through the New Build Homebuy scheme. One of the main downers that people on here seem to put on these schemes is the overpricing by the Housing Association but the HO guy that we spoke to said that, although they had set a price for each of the flats on the scheme, the price that we would actually pay would be determined by the Mortgage lenders valuation which would most likely be less than their list price.

I have seen similar flats in the area and some in the same block and i would say that the one we're going in for is pretty well priced.

StephyB90

Hi just a quick question does anyone know how much solicitors fees will come to on a two bed through new build homebuy roughly?