Mortgages for New Build Flats

SouthCoast

New build flats will still have maintenance charges for the upkeep of the communal areas.

Conrad

Nottingham only accept top quality applicants borrowing a low salary multiple.

jade1986

Conrad wrote: »

Nottingham only accept top quality applicants borrowing a low salary multiple.

Might sound silly but how low is low?

JJmcClure

Another question on new builds and negative equity

If I buy this flat I'd keep it as in investment for as long as possible

While none of us can see into the future, will I have more of a chance to avoid the negative equity situation if I keep it for, say,10-15 years, as opposed to trying to sell it in, say three years?

Does the value of new builds eventually go up or stay the same if you keep hold of them long enough?

Thanks

JJmcClure

Nottingham phoning me in the morning. Had to book an appointment. Will find out and post it up here

Conrad

[QUOTE=JJmcClure;23510295




will I have more of a chance to avoid the negative equity situation if I keep it for, say,10-15 years, as opposed to trying to sell it in, say three years?

Does the value of new builds eventually go up or stay the same if you keep hold of them long enough?

Thanks[/QUOTE]



Is the value more likely to increase over a longer or shorter term - c'mon JJ, common sense will give you the answer.:rotfl:

Do new builds go up - no they stay the same forever - you can buy a 1970 one for the 1970 price - about £3000.

Sorry mate, I'm feeling a bit mischievious, I shoud'nt be so spikey to you, but surely you can see these are up for the oddest questions 2009 award.

JJmcClure

It's best to ask questions even if they seem obvious so that you are 100% clear, don't you think?

Some of us aren't very experienced in this buying property lark and I'm asking the question because people are mentioning negative equity like it's the end of the world for ever and all new builds are a negative equity hell

Hence my asking, so don't get spikey

jade1986

JJmcClure wrote: »

Nottingham phoning me in the morning. Had to book an appointment. Will find out and post it up here

Good luck.. they were really nice and helpful with me

JJmcClure

She called me early And was very nice

20% deposit needed on new builds

They do 95% morgages if you are local - so I can't get one as I'm buying in London

Their broker is calling me free of charge to suggest 90% mortgages I can get. Which is nice

It's the final nail in the coffin for new builds and I'm not that fussed, to be honest. I'll be patient until the right one comes along

Thanks for all your help on here

jade1986

JJmcClure wrote: »

20% deposit needed on new builds

Did they say this as a general rule or does this not apply to those local?