Haggling with Gleeson Homes - FTB

bleeve

Hi

I am a FTB, this is probably the 5th house I've tried to buy now, the others keep falling through for various reasons (stressful)

Just spotted a nice little home for 119,995 in an area that has been re-developed (used to be council estate) We had a look around, they are on their 3rd phase now but have 3 homes left on the old 2nd phase they want to get rid of. I'd like to buy one of the remaining homes (on the 2nd phase) and liked what I saw, but when we spoke figures the sales woman said 'because they are already so cheap we cant budge on price' she then said 'if your getting 95% LTV we can't throw ANYTHING in because that is a deal by its-self'

We then discussed putting 10% down, to which she said 'We can gift you 5% if you throw 10% down or we can knock 5% off the house' I asked if she could do anything else she said no. I said there is another developer next door (Keepmoat) they have offered me a house much cheaper £106,000 with a free ps4, TV, everything only problem is the houses aren't built till summer. Her response was 'Oh they give everything away, but not us' End of conversation.

I am keen to sign but I dont feel that they are offering a good deal at all. I would like money off the house (5 to 10%), free white goods (fridge/washer) and furniture from their old show home (which she already said she wants to get rid of) I dont really have time to haggle as Im pregnant.

Does anyone know if this would be possible? Are Gleeson flexible with their negotiations?

Thanks in advance for anyone that can help

chanz4

The rooms look miniature, by the way nothing is free.

AnnieO1234

We are in a gleesons new build. Get everything and I mean everything in writing, don't trust them and don't use their recommended solicitor.

Which house style are you looking at? Gleesons will do as little as possible. Speak to Maxine Baxter their sales director to get anywhere.

We love our house and location but would never ever recommend this developer.

bleeve

Thanks, I think its called The Florence. An end terrace.

Yeah the rooms are a little small but for the price, what can I do. I can only afford around this price

kingstreet

You only have 10% deposit?

Which lender are you planning to use?

Leo2020

I would not recommend Keepmoat. Although the houses we looked at were bigger and cheaper than the Gleeson ones, Keepmoat's customer service is shocking.

I second getting everything in writing - I know from bitter experience how house builders will lie through their teeth.

bleeve

Yep just a 10% deposit which will be around 11-12 grand that's kind of good for us were only young so have been saving all year. It's been hard. There are quite a few lenders actually Halifax & natwest seem to be the brokers favourite. Post office & HSBC have the best rates but I heard they're pretty strict.

Hmm I'm not sure about keepmoat being social housing, I think they have to give a certain % of their properties for housing association to use but its like 5-10% of the whole site. They sell the rest, most developers are doing this I think.

I am abit put off now as there is a house on the development up for private sale it was bought from keepmoat 4yrs ago and so it's almost brand new. I might buy off them instead, my only fear is being gazumped then I'm back to square one (this happened twice to me now) 😔

kingstreet

Halifax* and NatWest definitely won't lend 90% on a newbuild house. The others are "direct only" so you'll have to ask them.

Max for most is 80% to 85%.

* Unless the builder is a member of their approved builder/broker panel.

Question_Time

Hi, which bank offers 5% to a first time buyer.. can I also use a 5% gifted so in total its 10%. How flexible were gleeson homes with the price, any discount? Need to know how much money I need to save for the deposit.

AnnieO1234

Have you looked at Gleesons own offerings to help FTBs? They're certainly better than help to buy scheme. But once again make sure that you get absolutely everything in writing from them.

From memory the Florence is a nice home.

Xx

ethank

Question_Time wrote: »

Hi, which bank offers 5% to a first time buyer.. can I also use a 5% gifted so in total its 10%. How flexible were gleeson homes with the price, any discount? Need to know how much money I need to save for the deposit.

As mentioned earlier, most lenders will ask for 85% LTV on a new build, as they initially lose value. Therefore you may need to fund 10% yourself in addition to a 5% gifted deposit.