HomeBuyDirect - New House

sgh1976

Caesar wrote: »

As for Halifax not doing Homebuy, this is wrong, Halifax definitely do it,.

3 banks cover the HBD scheme - RBS, Halifax and Nationwide.

However Nationwide backed away pretty sharpish and started to ask for the buyer to pay a 5% deposit on top of the 30% loan from HBD/Builder.

From September this year, Halifax started to do the same, so that only leaves RBS who will give mortgages for the 70% required afer you get the money from HBD.

The HBD direct scheme ends in March and any houses not completed by the 31st will fall through, as the HBD scheme won't pay any money out from the 1st April. Getting the price down depends on how desperate the builder is to shift properties.

an2003dy

I don't know why RBS has down-valued so much. I have, as yet been unable to get hold of the prices of other simular houses on the development. I was informed yesterday that Barratts are not shifting on the price and have/are having talks with RBS, fingers cross, they might settle on a happy medium....we'll see!! Thanks all!! keep them coming!

leveller2911

an2003dy wrote: »

I don't know why RBS has down-valued so much. I have, as yet been unable to get hold of the prices of other simular houses on the development. I was informed yesterday that Barratts are not shifting on the price and have/are having talks with RBS, fingers cross, they might settle on a happy medium....we'll see!! Thanks all!! keep them coming!

Its very nice moving into a new home Andy and I wish you all the luck on what you decide to do.

My opinion is the Homebuy scheme is just a way in which property prices are kept high.It amazes me that the scheme is allowing people to buy who have little or no savings.We were accepted for the scheme but pulled out.

My advice is to walk away and look for another house.You say renting is "dead money" well don't forget with a mortgage your paying interest each month which is also dead money.If you borrow £7,500 on a loan you,ll pay back something like £3,000 in interest (depending on rates,term).Work hard and save the deposit.......