told not to declare

panzer_pure

hi,

I'm buying my first house with the aid of help to buy
i was told i could not budge the asking price so i negotiated 6k of extras instead.

the house builders rep told me not to tell my solicitor about this deal though as is would affect my mortgage with the bank or some other reason. is this normal? as I'm filling out my paperwork to be sent to my solicitor so they can start the conveyancing and theres a part i need to fill out about extras.

thanks in advance

Guest101

panzer_pure wrote: »

hi,

I'm buying my first house with the aid of help to buy
i was told i could not budge the asking price so i negotiated 6k of extras instead.

the house builders rep told me not to tell my solicitor about this deal though as is would affect my mortgage with the bank or some other reason. is this normal? as I'm filling out my paperwork to be sent to my solicitor so they can start the conveyancing and theres a part i need to fill out about extras.

thanks in advance

Ask yourself this:

Should I trust the solicitor I'm paying for? Or the sales person I'm not?

dimbo61

So what are EXTRAS? Kitchen, bathroom, fence round the back garden?
Better kitchen or carpets, upgrade to the ensuite.
You are more than likely paying over the top for a new build so any EXTRAS are already included in the price.
The HOUSE comes with Carpets+Curtains, Bathroom, Kitchen, Appliances ETC

Argghhh

as long as the price of the house doesnt change it wont affect your mortgage offer, however if your solicitor is kept in the dark how will he have it put in the contract that these 6k of extras are included at point of exchange?

DTDfanBoy

And what recourse do you think you'll have when your negotiated extras never eventuate :eek:

Either inform your solicitor of what is being included in the sale, or don't complain when you move into a property missing the gold plated bath that was promised

panzer_pure

the extras are 5.5k towards there extras list and 500 was for the turf,
im to be going into the showroom next week to pick my extras as well as about 2k of my own money as well. I'm just worried that i don't want to compromise my mortgage offer. i have the extras on my reservation sheet if that helps?

oldbaldman

Get the offer of extras "in writing and as part of the deal" from a person authorised to offer them.

obm

panzer_pure

there must be someone here thats been through a help to buy, did they inform there solicitor of every bit that was negotiated?

DevCoder

Why wouldn't you? You'd be mad not to tie it all up legally.

davidmcn

panzer_pure wrote: »

there must be someone here that's been through a help to buy, did they inform their solicitor of every bit that was negotiated?

Yes, that would be the normal thing to do.

dating_thoughts

panzer_pure wrote: »

hi,

I'm buying my first house with the aid of help to buy
i was told i could not budge the asking price so i negotiated 6k of extras instead.

the house builders rep told me not to tell my solicitor about this deal though as is would affect my mortgage with the bank or some other reason. is this normal? as I'm filling out my paperwork to be sent to my solicitor so they can start the conveyancing and theres a part i need to fill out about extras.

thanks in advance

A house purchase is a massive thing in anyone's life in terms of financial commitment. Therefore I think you need to think about your situation and minimise any risk to your long term investment i.e your house. It also depends if you're the kind of person that would worry about this over the years to come and always worry a bit about it. Can you ask your own solicitor "off the record" just so you know where you stand and what additional risks you may be taking on? In addition to this, I have no financial education whatsoever although it does sound like the "extras" may in the view of inland revenue be an income so this extra money maybe something you'd have to report to them regarding tax payable.