Buying a new build - showing my interest and possible deposit - Pointers?

zarf2007

Dhrucku wrote: »

Thanks for all the feedback.

So I got a call from one of the sales advisors and she advised that by showing my interest on the phone she has entered me on to the waiting list.

I explained I was looking to "move in" during Q3 next year or so and she said it should work out fine with the waiting list as long as it is etc.

To me it sounds like they will not be taking a deposit for the reservation until a plot is free'd up and we move up the waiting list, which sucks a bit since I'm ready to part my "deposit" cash and get ready to commit to move in next year.

Another question: My girlfriend has her name on another property (having bought it with her dad) and is currently under her name alone as her dad dropped off. Does this mean if I was to go in with her for the joint mortgage we wouldn't benefit from the First time Buyer perks?

Unless your girlfriends existing mortgage is buy to let this will go against her for affordability on any mortgage application. It will also exclude her from help to buy as you cannot own another property at the same time (unless she is taking her name off the other property at the time of completion on the HTB home)

DJS1988

Hey,
I've looked at the same development, I love it there.
Just to let you know you have pretty much no chance of getting a house on the current plot. So you definitely won't be asked for a reservation fee.

I believe Ward hope to secure another plot of land in the area soon but no contracts have been signed. I've put myself on the interest register for the next development at Castle Hill, which is with Persimmon Homes.

Good Luck - the area is perfect for us, I was gutted to find out how big the waiting list was!

Dhrucku

DJS1988 wrote: »

Hey,
I've looked at the same development, I love it there.
Just to let you know you have pretty much no chance of getting a house on the current plot. So you definitely won't be asked for a reservation fee.

I believe Ward hope to secure another plot of land in the area soon but no contracts have been signed. I've put myself on the interest register for the next development at Castle Hill, which is with Persimmon Homes.

Good Luck - the area is perfect for us, I was gutted to find out how big the waiting list was!

True, waiting list is extensive to say the least!

Persimmon seems to have a contract but again that hasn't been signed. It will be very interesting to see the preliminary waiting list for that development.

The only one set in stone is the one for Ward Homes but then the waiting list is the blocker.

Question - So my fiance had her name put on a house that her dad originally bought and she paid the mortgage every month. I think the original documents were done on her dad's name and transferred to her name. If she were to take off her name, would she then qualify as a first time buyer with me? Not sure how the house contract will work in the end but as I am still a FTB do I qualify us both for it?

ethank

Dhrucku wrote: »

With my salary of 30.5k I can borrow roughly 120k you'd think (strong credit rating etc). Managed to get an AIP back when I was on 26k for 140k.

It appears that you are multiplying what you think you can get by 2. Have you spoken to a mortgage advisor? I think you may be surprised to find out your total mortgage would be likely to be up to £215k! Check out the calculator at http://www.moneysavingexpert.com/mortgages/how-much-mortgage-borrowing