First time buyer advice

1987_l

I am currently saving to buy my first house i currently have 10k and in 5months i hope to have 20k i have seen a house i like it is a new build 3bed detached which i think is over priced it was completed in 2010 and is still on the market. last year the builder put it for sale under another estate agent it is on the market for 230k my budget is around 160-170k would it be to low to offer a price in that region or am i best forgetting about this house?
My feeling is that the builder wouldnt think twice about ti but then again almost 3 years on still no sale might be better to sell for a lot less than not at all or is that not how it works?

Thrugelmir

Two words. No chance.

Let_Us_See

Why not make an offer? The worst that can happen if that your offer is declined.

1987_l

Wel im not in a position to at the moment but in 5 months time if its still on the market then maybe ill be brave enough to be cheeky!, who knows!! Something must be putting people off!

kingstreet

As it's a newbuild, most lenders will not go past 80% or 85% loan to value, so you're going to need £30k+ deposit on a £200k purchase.

1987_l

Halifax offer 90% on new build so thats good news for me but i wouldnt be Able to go up to 200k

kingstreet

1987_l wrote: »

Halifax offer 90% on new build so thats good news for me but i wouldnt be Able to go up to 200k

From Halifax lending criteria;-

Maximum LTV on new build properties (houses and flats) is 80% (65% if the scheme type is a second home loan or buy to let).