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Anyone heard of Home Buyers UK???

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eshaq786
eshaq786 Posts: 26 Forumite
Part of the Furniture 10 Posts Combo Breaker
in House buying, renting & selling
I came across a company called Home Buyers UK. Apparently they offer to pay 10% deposit on any house that you may want to purchase. This 10% deposit is interest free and they only charge a £695 fee which is payable on completion. They also require you to use their solicitors which they say are competitive prices.

Sounds to good to be true. Has anyone come across them or does this sound like a scam? They are based in peterborough.
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Comments

  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    It sounds like a complete and utter scam but the usual pattern is a first time poster asks about a scheme and then another first time poster comes along to say how fab the scheme is. And thinks we are thick enough to fall for it.

    I bet the good news post comes in.. um.. the next 4 posts. I'll put a banana on it!
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • GDB2222
    GDB2222 Posts: 26,274 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Same guy posted the same yesterday. I guess that got deleted as spam.

    I don't quite know what the angle on this is. I looked at their website, and it sort of appears to be genuine. I had a telephone conversation, and they are sending me more details. OTOH, if it seems too good to be true ..... it's probably a scam.

    I'd be quite pleased if MODs left this thread up, so we can discuss it and find out what they are up to.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • eshaq786
    eshaq786 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I did post the same thing but it got deleted. Not sure why. But I really do genuinely want to find out more because I've tried to find information about them on the Internet and there doesn't seem to be anything out there.

    I know it looks a bit dodgy with me being a newbie but I been a long time reader of MSE but didn't really need to register till now.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    eshaq786 wrote: »
    I came across a company called Home Buyers UK. Apparently they offer to pay 10% deposit on any house that you may want to purchase. This 10% deposit is interest free and they only charge a £695 fee which is payable on completion. They also require you to use their solicitors which they say are competitive prices.

    Sounds to good to be true. Has anyone come across them or does this sound like a scam? They are based in peterborough.

    So they lend you the 10% deposit on your next house, 'interest free', and charge you £695 ...... for what?
  • eshaq786
    eshaq786 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    From what I can tell the £695 is their fee for arranging the deposit and providing their service whatever that may be.
  • vicstick86
    vicstick86 Posts: 133 Forumite
    Home Buyer UK, has a pretty legit looking webpage... hmmm!
    Just type it into google!!
    But I always think that things that look too good to be true usually are!!!
  • vicstick86
    vicstick86 Posts: 133 Forumite
    I just looked more, it looks like they get money from the house sale? You find a house from any estate agent and then let them know, and they set up all the viewing and stuff! So strange!
  • eshaq786
    eshaq786 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Still don't understand how they can afford to give 10% interest free especially in this economic climate.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Still don't get what the £695 is for, other than interest on the loan of the deposit..... but I've not looked at the site yet.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Hee hee - they have 'Vacanies' for agents/reps ....
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