85/15% scheme for new builds

CloudCuckooLand

Setting aside the pros and cons of the scheme that is on offer.

This bit jumped out at me..."builders want us to"...

If the builders want you to sign up to something, then shouldn't they be giving all the information, Ts&Cs etc to help you arrive at such a decision..?

I would be wary of any scheme that the Builder is not able to explain...

kiki*_2

Thanks for all your comments. We can afford to buy as we can easily afford the monthly payments. Just paying rent and saving at same time is hard. Thank you for the more useful comments from people on the schemes. I think we have ruled it out purely because with a 95% mortgage what we pay each month sorts it, rather than needing to put money away for the other 15%.

JQ.

opinions4u wrote: »

I think you missed out (d) and (e).

(d) The greater risk of property value falling with a new build property.
(e) The greater risk of propery value falling where any element of shared ownership, shared appreciation, vendor gifted deposit, builder funded deposit etc exists.

and don't forget . .

(f) generally the prices paid for these properties are artificially increased by the presence of the scheme, which combined with (d) makes the likelihood of Negative Equity even greater.