New Build House Mis-Sold! What are our rights?

rodders470

Hi All

We are buying a new build house but we now believe the developer didn't tell the truth about the affordable housing nearby in order to secure the sale.

When we asked about the affordable housing they told us that they were all shared ownsership properties, which was fine with us, however today we asked a friend to contact the developer today and she was told that they are not shared ownership but will actually be council housing!

We are not happy at all, as we think this could affect the future resale value as well as make it a less desirable place to live.

We are yet to exchange contracts so the sale isn't legally binding. We could pull out but we would lose all the money that we have spent on searches and our reservation fee.

Do we have any rights to reclaim the money spent from the developer due to them mis-selling, or could we insist on a further reduction of the asking price or extra upgrades to the house?

Sorry to go on for so long, but we were really excited about this move, but this has really taken the shine off.

Any advise would be greatly appreciated.

custardy

rodders470 wrote: »

Hi All

We are buying a new build house but we now believe the developer didn't tell the truth about the affordable housing nearby in order to secure the sale.

When we asked about the affordable housing they told us that they were all shared ownsership properties, which was fine with us, however today we asked a friend to contact the developer today and she was told that they are not shared ownership but will actually be council housing!

We are not happy at all, as we think this could affect the future resale value as well as make it a less desirable place to live.

We are yet to exchange contracts so the sale isn't legally binding. We could pull out but we would lose all the money that we have spent on searches and our reservation fee.

Do we have any rights to reclaim the money spent from the developer due to them mis-selling, or could we insist on a further reduction of the asking price or extra upgrades to the house?

Sorry to go on for so long, but we were really excited about this move, but this has really taken the shine off.

Any advise would be greatly appreciated.

you would need to get the facts first
is it council or could it be a housing association?
round here the housing associations deal with part ownership homes

rodders470

They said they are housing association rental properties. Is this different from council housing?

custardy

rodders470 wrote: »

They said they are housing association rental properties. Is this different from council housing?

well ones the council and ones a housing association
round here is common for developers to build houses in 3 tiers for these types of schemes
new build to buy
new build to part share
HA properties to rent out

kingstreet

AFAIK most councils have hived off their housing stock into separate firms which have been set up as Housing Associations. Here in Stafford, the Stafford Borough Council housing was transferred to Stafford & Rural Homes, which is a Housing Association. Crewe & Nantwich Council's housing was transferred to a HA called Wulvern. I understand many other areas have done the same thing.

I 'spose you were given the correct information but didn't fully understand the implications. Whatever else they are, HAs are also Registered Social Landlords and will be responsible for both rented and shared ownership property.

ruggedtoast

They have to build affordable housing on new developments. Its a blight on most of them unfortunately.

debrag

Yes most council don't own property any more all sold to housing associations. If it's shared ownership then that is better than HA rentals.

mcc100

All new sites have to allocate between 25% - 33% to social housing ..... previously council houses but now housing association houses.

These are not shared ownership houses.

The social housing properties are the ones with solar panels in the roofs ......

Developers are very crafty, because they are allowed to display huge SOLD signs on these social housing properties, making it appear that their properties are being snapped up quickly .....

DevilsAdvocate1

rodders470 wrote: »

Hi All

We are buying a new build house but we now believe the developer didn't tell the truth about the affordable housing nearby in order to secure the sale.

When we asked about the affordable housing they told us that they were all shared ownsership properties, which was fine with us, however today we asked a friend to contact the developer today and she was told that they are not shared ownership but will actually be council housing!

We are not happy at all, as we think this could affect the future resale value as well as make it a less desirable place to live.

We are yet to exchange contracts so the sale isn't legally binding. We could pull out but we would lose all the money that we have spent on searches and our reservation fee.

Do we have any rights to reclaim the money spent from the developer due to them mis-selling, or could we insist on a further reduction of the asking price or extra upgrades to the house?

Sorry to go on for so long, but we were really excited about this move, but this has really taken the shine off.

Any advise would be greatly appreciated.

You would lose the reservation fee any any solicitor fees. However, when someone else buys the house you may be able to sell the searches on and thus get the money back for these.

We bought a new build. The original buyers had to pull out because their buyer pulled out. We bought the searches directly from them as it was quicker to do this than go through them all again.

HTH.

bristol_pilot

Best to pull out and think of it as a price worth paying to learn a valuable lesson. Almost all new housing estates have a percentage allocated to social housing, which many buyers consdier a blight on the others.

cheekychappy

Is there some form of stigma attached to people in social housing or something?