PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

5 manholes in a brand new house (garden & drive way)...

Options
1246

Comments

  • BartyBoy
    BartyBoy Posts: 407 Forumite
    Part of the Furniture Combo Breaker
    Have you asked about any possible covenants on the property?

    No, I haven't asked this question.

    When I spoke to the guys yesterday, I told them what my future plan was to the property. It was a long story. This development site used to be an open field with some number of trees. All these trees are now cut down. I was told some of these trees were quite big and old so any properties sit on top of these trees' roots, they must have a deeper/thicker foundation, my property is one of them.

    So going back to the question. When I mentioned my plan yesterday, none of these guys said there was a covenant/limit/restriction on the property (or do I need to ask this specially?), but the site manager did make a point straight away that I will need to a special foundation, a planning permissions, etc. due to the states of the land. That was the only comment I received from them. Not sure if they didn't think it will be a problem, or something else...
  • ERICS_MUM
    ERICS_MUM Posts: 3,579 Forumite
    Part of the Furniture 1,000 Posts
    BartyBoy wrote: »
    No, I haven't asked this question.

    When I spoke to the guys yesterday, I told them what my future plan was to the property. It was a long story. This development site used to be an open field with some number of trees. All these trees are now cut down. I was told some of these trees were quite big and old so any properties sit on top of these trees' roots, they must have a deeper/thicker foundation, my property is one of them.

    So going back to the question. When I mentioned my plan yesterday, none of these guys said there was a covenant/limit/restriction on the property (or do I need to ask this specially?), but the site manager did make a point straight away that I will need to a special foundation, a planning permissions, etc. due to the states of the land. That was the only comment I received from them. Not sure if they didn't think it will be a problem, or something else...

    Walk away NOW ! You will struggle every step of the way to transform this house and it will cost a fortune in the process. If you are prepared to do the amount of work you mention, why not look at older houses that are "liveable" at the mo but would be reasonably easy to develop and add genuine value to.
  • BartyBoy
    BartyBoy Posts: 407 Forumite
    Part of the Furniture Combo Breaker
    ERICS_MUM wrote: »
    why not look at older houses that are "liveable" at the mo but would be reasonably easy to develop and add genuine value to.

    Unfortunately I am using the Help to Buy scheme to buy a property and I am only allowed to buy a new build to qualify for the 20% government loan. *sign*
  • SeduLOUs
    SeduLOUs Posts: 2,171 Forumite
    BartyBoy wrote: »
    Unfortunately I am using the Help to Buy scheme to buy a property and I am only allowed to buy a new build to qualify for the 20% government loan. *sign*

    Thought that changed ages ago from just being for new builds.
  • BartyBoy
    BartyBoy Posts: 407 Forumite
    Part of the Furniture Combo Breaker
    No, still have restrictions on what type of properties to buy. Sorry to sound disgraceful, but I do feel at some points the Help to Buy scheme is not as good as it should be. Anyway that is a different subject...
  • fairy_lights
    fairy_lights Posts: 9,220 Forumite
    Did the possibility of a reduction on price come up when you were talking to the sales guys?
  • Marktheshark
    Marktheshark Posts: 5,841 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    How high above the rain water one is the house door, Hydraulic pressure in a summer down pour will blow any lid, screwed down or not, it can lift thousands of tonnes.
    If the door is almost level and it blows the house will flood and will become uninsurable.
    I do Contracts, all day every day.
  • BartyBoy
    BartyBoy Posts: 407 Forumite
    Part of the Furniture Combo Breaker
    Did the possibility of a reduction on price come up when you were talking to the sales guys?

    The guys did not make any signs of reducing the property price at all. And because I am using the Help to Buy scheme, so I guess if the property price now changes, I will need to re-apply the loan.

    The only thing that I could sense from the guys was I can pull out now and have my full deposit back, not sure if I can negotiate with them about the money that I have already paid my solicitor for the search, bits and bobs related to this purchase...
  • BartyBoy
    BartyBoy Posts: 407 Forumite
    Part of the Furniture Combo Breaker
    How high above the rain water one is the house door, Hydraulic pressure in a summer down pour will blow any lid, screwed down or not, it can lift thousands of tonnes.
    If the door is almost level and it blows the house will flood and will become uninsurable.

    I actually don't know. Thanks for raising this important point to me. I am writing a list of questions and comments to Taylor Wimpey, so your question is now on my list. Thank you!
  • Arthien
    Arthien Posts: 1,513 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    edited 8 May 2015 at 10:57AM
    BartyBoy wrote: »
    Unfortunately I am using the Help to Buy scheme to buy a property and I am only allowed to buy a new build to qualify for the 20% government loan. *sign*

    http://www.helptobuy.org.uk/mortgage-guarantee/eligibility

    According to point 1 on this website, 'the property you are purchasing could be an existing or new-build home in the UK, priced up to £600,000' so there's no reason why you should stick with a less-than-perfect new-build for the sake of it.

    Edit: here's the MSE page which says the same http://www.moneysavingexpert.com/mortgages/mortgage-schemes

    Basically you want the second HTB scheme, not the first.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.