New build extras included in house price?

stalkah · 14 February 2015 at 9:06AM

Morning All,

Will be looking to purchase a new build later this year but didn't know how the extras work.

So if the house price was 300k as standard but wanted £15k of extras would the purchase price now be £315k and we get a mortgage for 75% of that or do we have to pay the £15k separately to the mortgage?

Thanks

comeandgo · 14 February 2015 at 10:23AM

Well, when we bought our new build nine years ago, our extras, which were double garage instead of single, and had it built so there are rooms above, was paid as invoiced, in one payment to builder. Mortgage had been arranged prior to the changes so we left it as it was. This is Scotland though where things are different

ethank · 14 February 2015 at 12:50PM

Quite often they want paying for the extras on exchange of contracts.

stalkah · 14 February 2015 at 2:15PM

Just checked with the builder as was driving past and they say the extras are paid for separately on completion unless they need to order anything before exchange of contracts then it's a 50/50 split paid on order and completion. That's with Taylor Wimpey

arbrighton · 14 February 2015 at 5:30PM

I used to work for a housebuilder, processing requests for extras- they were pay or nothing will happen, regardless of whether you had exchanged and if it had passed the build stage where it can be done, it wouldn't be done