Does anyone want to join me waiting for new build to be built and complete

alice_kate_2

Hi all,

I'm tentatively joining you all! We have reserved a Barratt new build but don't want to get hopes up until we have our mortgage offer!

It's a Hexham so a beautiful house just keep fingers crossed it all goes through!

Will keep you updated - good luck to everyone else with their purchases too!

mleach101

visidigi wrote: »

Interesting one this morning. Valuation done to new build.

Valued £10k less than we are paying - seems very odd - they did it without visiting it seems - as the site wasn't aware it had been done.

The problem I have is we haven't even done the fixtures and fittings and already its been valued below.

Concerned now...

Mortgage is still good though as we under LTV for the product and have enough deposit.

Contemplating seeking more from the builder than we are getting. I suspect this may be why these houses were dropped in price by about 9k not long before we reserved.

I'd speak to your broker first (if you have one) just to get their view but I'd be off to have a chat with the builders and see if they'll drop the price to match, meet you half way or throw in some extras! Chances are they'll insist on another valuation but I think you've just been given a very good negotiating starting point.

Hou

alice_kate wrote: »

Hi all,

I'm tentatively joining you all! We have reserved a Barratt new build but don't want to get hopes up until we have our mortgage offer!

It's a Hexham so a beautiful house just keep fingers crossed it all goes through!

Will keep you updated - good luck to everyone else with their purchases too!

Welcome to the party!!:T

bt1

So our exchange deadline is 15th April, paid the deposit over today, and had a call from solicitor to say they were ready to go, sounded like they were going to exchange today! Then they said they called to get TW approval to exchange, but they said no (!!) because there were changes to the plans (!!!????!?)


No idea what this means! The sales office is open again on Thursday so will have to pop in then :-/

millie1985

I've been lurking this thread for a little while now and thought I'd share our saga! Sorry for rambling in advance...

We reserved a house on a small development in a village in Kent at the end of Feb and have just hit a bit of a roadblock!! The house is built - kitchen going in this week - and they want us to exchange asap and complete at the end of April.

We were delayed in applying for the mortgage until mid-March as I needed a letter from my employer confirming my upcoming salary increase - completed full mortgage application with Natwest on 16/3 and just before Easter came back as approved pending valuation - so, given I'd mostly been worrying about affordability (mortgage is in my sole name as partner is self employed and doesn't have enough years accounts) I relaxed!

Well...valuation (using E-Serve?) came in at £40k (just under 10%) under the asking price - disaster!!! The surveyors rationale was lack of local comparables and that its on a main road (through a village, which sees more horses than cars...!).

The builder actually laughed, and I sort of get their point - it's difficult as there's nothing really comparable in ~3mile radius but new builds in the town centre with smaller plots and nearer to the motorway are ~£15k more than our asking price! And, they've sold 3 of the other plots (out 17 in total) and apparently valuations have come in in line with expectations - I appreciate I only have their word on that.

So, am now looking at applying again with Nationwide and hoping that 1) affordability works and 2) they don't use E-Serve. If it comes back under again then I don't know what we'll do. We have of course completely fallen in love with the house and started picking out what we want to buy / where our furniture will go!!

Slightly worried we're paying over the odds but there's nothing in a 20mile radius similar for cheaper! Except "second hand" but we're using HTB Equity loan to stretch to buy our forever home. We don't have the cash to make up the difference either...

baxt3r

An update from our end.

We completed last Friday and have spent the last few days moving in and getting ourselves sorted.

So we're now in our new build and the reality is..... we couldn't be happier. We've found the quality with Redrow to be extremely good and everyone on site to be very helpful.

Yes,, we have the odd small issue but they're very small, things like shower rail needs a new attachment or the odd bit of plastering need sorted. Our snagging list is tiny and all are very small items so we're really pleased with the decision we made.

I hope everyone else ends up as pleased as we are. I'm sure things will crop up as they do on any house but we've definitely made the right decision.

Baxt3r

Tygermoth

Yay! congratulations Baxt3r

We got the dreaded email last night with the conclusion to our saga.

They will not be putting access in to the back of the house. Their resolution is 'add a front gate'

This only solves the bins issue (the only one that the council planning team are hot under the collar about) doesn't solve any of the access problems. So doing the very least they can.

So we are going to send them a backdoor or we're out email today.

On the up side, lovely house on a two year old DW development has come on the market, 20K less than our build and they obviously had all the upgrades (karndean, full tiling, fancy kitchen and uplighters) also right next to a park, sunny and almost exactly the same layout.

visidigi

Tygermoth wrote: »

Yay! congratulations Baxt3r

We got the dreaded email last night with the conclusion to our saga.

They will not be putting access in to the back of the house. Their resolution is 'add a front gate'

This only solves the bins issue (the only one that the council planning team are hot under the collar about) doesn't solve any of the access problems. So doing the very least they can.

So we are going to send them a backdoor or we're out email today.

On the up side, lovely house on a two year old DW development has come on the market, 20K less than our build and they obviously had all the upgrades (karndean, full tiling, fancy kitchen and uplighters) also right next to a park, sunny and almost exactly the same layout.

I know what I would do - get an offer in for that 2 year old build.

You've still got the guarantee and you get a house that you 'really really want', not a 'we wanted it but not like that' house.

MrJB

millie1985 wrote: »

I've been lurking this thread for a little while now and thought I'd share our saga! Sorry for rambling in advance...

We reserved a house on a small development in a village in Kent at the end of Feb and have just hit a bit of a roadblock!! The house is built - kitchen going in this week - and they want us to exchange asap and complete at the end of April.

We were delayed in applying for the mortgage until mid-March as I needed a letter from my employer confirming my upcoming salary increase - completed full mortgage application with Natwest on 16/3 and just before Easter came back as approved pending valuation - so, given I'd mostly been worrying about affordability (mortgage is in my sole name as partner is self employed and doesn't have enough years accounts) I relaxed!

Well...valuation (using E-Serve?) came in at £40k (just under 10%) under the asking price - disaster!!! The surveyors rationale was lack of local comparables and that its on a main road (through a village, which sees more horses than cars...!).

The builder actually laughed, and I sort of get their point - it's difficult as there's nothing really comparable in ~3mile radius but new builds in the town centre with smaller plots and nearer to the motorway are ~£15k more than our asking price! And, they've sold 3 of the other plots (out 17 in total) and apparently valuations have come in in line with expectations - I appreciate I only have their word on that.

So, am now looking at applying again with Nationwide and hoping that 1) affordability works and 2) they don't use E-Serve. If it comes back under again then I don't know what we'll do. We have of course completely fallen in love with the house and started picking out what we want to buy / where our furniture will go!!

Slightly worried we're paying over the odds but there's nothing in a 20mile radius similar for cheaper! Except "second hand" but we're using HTB Equity loan to stretch to buy our forever home. We don't have the cash to make up the difference either...

Nationwide use Countrywide I believe to carry out their mortgage valuation surveys. Have the other properties which have been sold completed? It maybe worth checking because obviously if they have not completed then any valuer is going to have the same problems as before.

x0emz0x

Hi all, sorry to hijack this thread! I'm loving reading all of your updates.

Myself and my partner are looking at purchasing a new build, however the show home of the size house we want to purchase is no longer available, it has been sold.

We have viewed the 3 bed show home but we want the 2 bed, so want to have a look at sizes etc. We have seen photos but don't want to commit such a big purchase on just photos.

Would it be extremely cheeky if we were to knock on a door to ask if we are able to have a quick look around?

Thanks
Emma