Barratt Homes Over Valuing & Mis selling new homes

geemoney01

Hi Everyone,

I could do with some help in relation to my new build that I purchased through the help to buy scheme from Barratt homes.

2 years ago I was offered 1 of 2 properties (both identical) under the scheme at the price of £125,000 I picked 1 of the properties and a few months later I moved in. The sales man on site assured me that the house attached to mine had been sold to a gentleman in London under the same scheme and he was moving up to Manchester shortly. A few months past and a young couple moved into the property I was surprised to find that the young couple were renting the property through a company called choices that Barratts own saleman had recommended to them. I later found out that the gentleman from London had purchased the property as a buy to let and not under the help to buy scheme he'd also paid £32,000 less than I had!

On further investigation none of the properties were sold by Barratt at the price I paid despite all being identical and one lady paid £45,000 less than I had for mine.

I have contact Barratt Homes only to be told they can't discuss any of the other homes due to data protection and they didn't mis sell me my property.

Does anyone have any advise on where I go next?

Thanks in advance!

Mallotum_X

Maybe a negotiation course?

The prices they sold anything else for is irrelevant. You were happy at 125k, and bought at that. The fact other people negotiated harder or bought at a time when property had dropped in price may be frustrating but is not mis-selling.

You could perhaps call it - mis-buying, but thats basically your error.

I know this wont be what you want to hear, but you have no where to go with this.

Leo2020

How were you miss sold? Barratts may have thought they guy was going to be living there (he could have lied), even if they knew and lied about it doesn't mean they miss sold your house.

You paid what you paid, it doesn't matter what anyone else paid. You agreed to £125,000. And I doubt that someone paid £80,000 for the same house as you. Maybe a few thousand less but £40,000?

Fiveboy

My understanding it was harder to get a discount on price when using HTB. Maybe demand for the houses dropped and they needed to sell them fast and the buyers had great Negotiation skills.

Did you ask for money off the price?

Is your Postcode showing on the Land Registry site to confirm the sale prices?

Also some houses could be sold as Shared Ownership?

You were not mis-sold as you agreed to the price of the property and the Mortgage company agreed to the valuation.

sinizterguy

They didn't mis-sell you the house.

You chose to buy it, and agreed to pay the price you paid for it.

Who they sell to, what price they sold at, and what any other buyer chooses to do with their house is none of your concern.

mrginge

If you found out they'd sold the house next door for £150k would you be sending them a cheque?

No, didn't think so.

kingstreet

Help To Buy - Equity Loan wasn't launched until April 2013, so it must have been one of the earlier variants of shared equity, FirstBuy perhaps?

Either way, a builder or vendor of any property advertises it for sale and you offer what you think it is worth to you.

Cornucopia

I agree that the notion of Barratts mis-selling a house is conceptually flawed. They cannot mis-sell because they only have their own interests to safeguard.

The issue for me would be with a surveyor or valuer, if one were involved. There might, possibly, be some comeback there, but even that is a long-shot, and it is unlikely to lead to compensation.

lincroft1710

geemoney01 wrote: »

Does anyone have any advise on where I go next?

Yes. Carry on with your life as usual. Barratts have done nothing wrong so you have no case against them.

geemoney01

All the properties were sold off plan and all identical so I guess you are right my own fault for being the 2nd person to put my name down for one instead of waiting until the prices dropped when they couldn't shift them.

I appreciate all the replies though and strangely I do feel a bit better now.

Thanks again and have a fab day

Lord_Baltimore

geemoney01 wrote: »

All the properties were sold off plan and all identical so I guess you are right my own fault for being the 2nd person to put my name down for one instead of waiting until the prices dropped when they couldn't shift them.

I appreciate all the replies though and strangely I do feel a bit better now.

Thanks again and have a fab day

Well done for taking the advice on the chin.

The good thing is you'll learn from the experience and not only that, you've joined the MSE forum - next time come for advice first