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Barratt Builders - Miss-selling
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No, actually they did promise it would be restricted to 17%. They told us that was the percentage that all new developments were required to have. They gave us the plan which showed the exact properties which were ear-marked for social housing and were advised that all the rest were being sold to private buyers. The fact that this development now has over 50% SH has certainly had a massive impact on the property prices..0
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What does the impact on property prices matter? Even if you get somewhere with your 17% complaint (you won't), property prices are at the whim of an enormous number of variables, of which Barratt Homes basically have no input.0
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Chocolate58 wrote: »No, actually they did promise it would be restricted to 17%.
No, they didn't.They told us that was the percentage that all new developments were required to have. They gave us the plan which showed the exact properties which were ear-marked for social housing
Exactly. 17% was the bare minimum.and were advised that all the rest were being sold to private buyers.
Small problem... There were no private buyers in 2008/9.The fact that this development now has over 50% SH has certainly had a massive impact on the property prices..
You'll be telling us next that they promised you a certain growth in your property price...0 -
Not sure about the tone of your post towards me... We were there for the sale. I'm not aware that you were.. I know what was said and what we were shown. They said there would be no changes to the plan.. We were not to know that they were going to sell the rest off to a HA. The value of our properties in the future is of course important to us. Eventually we will want to sell. We also have to contribute to the running costs of the development. These are now much higher than quoted because less than 50% of people pay into it. SH/HA don't have to pay into this. Why would I be telling you next that they promised a certain growth in our property price????0
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The property prices are enormously important to us, as they are to anybody who buys a property. I understand very well the variables in property prices, but turning a development into 50% social housing has had a very negative impact on what these properties sell for. The SH percentage comes up on searches so there is no way round it. I understand all the variables but this is in addition to those. This is our home, we are not doing this as a buy to let. For us the property price is hugely important. We're not rich enough for it not to be...0
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Chocolate58 wrote: »They said there would be no changes to the plan.
There hasn't been a change to the site plan. The same properties are in the same places. Only the ownerships have changed. Because they couldn't sell them to the people they intended to sell them to - what should they have done? Left them empty?Why would I be telling you next that they promised a certain growth in our property price????
If they didn't, then you don't have a leg to stand on when it comes to whinging about lack of growth.0 -
Chocolate58 wrote: »The property prices are enormously important to us, as they are to anybody who buys a property. I understand very well the variables in property prices, but turning a development into 50% social housing has had a very negative impact on what these properties sell for. The SH percentage comes up on searches so there is no way round it. I understand all the variables but this is in addition to those. This is our home, we are not doing this as a buy to let. For us the property price is hugely important. We're not rich enough for it not to be...
Sigh. The homes under the hammer generation have it in their heads that property prices only go one way - they don't. Any development built in 2007/8 is bound to have issues - housebuilders were going bust left right and centre back then! Some you win, and some you lose. You literally have no case for misselling.0 -
Given my advancing years, trust me I'm not from The Homes Under The Hammer generation but thanks for the compliment! Having worked in property, including developing, I probably have a better understanding than many about this but thank you for your valued opinion...0
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What exactly do you want Barratts to do?If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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Chocolate58, do you have any of their promises in writing?0
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