New Build - Redrow - Off Plan

Thrugelmir

Sparx wrote: »

They are still selling the rest at the original purchase price.

Or appear to be.

Smoke and mirrors.......

Thrugelmir

Sideburno wrote: »

I've heard you can negotiate with developers and possibly get incentives up to the value of 5% of the property, is this a reality?

HTB costs the developer as they contribute to the Government guarantee scheme. The fund then covers lenders against any shortfalls should the borrowers default. So the Government isn't actually funding the scheme.

Hence the reluctance to offer cash "discounts" as such. A surveyor down valuing is a difference matter.

Sideburno

I've been told it has nothing to do with the developers, they pay into the NewBuy scheme but not the Help to Buy.

VortexSteve

Thrugelmir wrote: »

HTB costs the developer as they contribute to the Government guarantee scheme. The fund then covers lenders against any shortfalls should the borrowers default. So the Government isn't actually funding the scheme.

Hence the reluctance to offer cash "discounts" as such. A surveyor down valuing is a difference matter.

This is incorrect. The NewBuy scheme used to cost the developer 3.5% along with set up fees etc. HTB does not.

Sparx

Thrugelmir wrote: »

Or appear to be.

Smoke and mirrors.......

They are actually still trying to sell the rest at the original purchase price. How would they know my own lender's surveyor would down-value the homes?

Redrow just hope no one else uses Nationwide to buy my kind of plot.. Or a different surveyor thinks otherwise!

Thrugelmir

VortexSteve wrote: »

This is incorrect. The NewBuy scheme used to cost the developer 3.5% along with set up fees etc. HTB does not.

All House Purchaser Providers participating in the scheme pay the Treasury a "Commercial Fee". As specified under the Help to Buy: home purchase plan guarantee scheme rules - sub section 17.

Thrugelmir

Sparx wrote: »

They are actually still trying to sell the rest at the original purchase price. How would they know my own lender's surveyor would down-value the homes?

Land Registry. Though there is time lag before the information is published.

Lenders offer incentives in order to maintain the illusion of selling prices.

GeekTrek

Sideburno wrote: »

Hi GeekTrek,

We've reserved at Atherstone, Tudor Gardens. They've told us we don't need to pay the full reservation fee but have reserved it for us and we're using HTB.

We've been given upgraded flooring in the bathrooms, turfed rear, carpets everywhere else and solar panels installed too! We were shocked as we hadn't asked for any extras they just told us these will be included for us.

They've also told us that we're looking for completion Sept/August, the base is down and the houses before ours are moving along nicely right now from what I can see.

The sales lady was great, she got all the technical drawings out showing street lights, gradients, drainage etc for us.

Let me know how yours goes!

That's great news. Will let you know when I complete and what to expect...

Sideburno

Thrugelmir wrote: »

All House Purchaser Providers participating in the scheme pay the Treasury a "Commercial Fee". As specified under the Help to Buy: home purchase plan guarantee scheme rules - sub section 17.

We're using the Equity Loan, not the Mortgage Guarantee Scheme. The Help to Buy: Home Purchase Plan Guarantee Scheme Rules were published after the HTB Equity Loan was released.

donfanatico

kirkbyinfurnesslad wrote: »

Is it on a flood plain.

Why do people waste money on a new souless house

because some people might be sick of old run down houses that have damp, stupid layouts , are expensive to run , have yearly repair costs etc

I used to like houses full of character but i am swaying more and more toward new builds, and not all newbuilds are the same