Barratts new build negotiation

hg1234

I was looking at some guidance as to what negotiations I could wiggle into my purchase.

I am looking at a 3 bed semi (in Wales) its priced at £162,500 and I would be doing the Help to Buy scheme. I have a £23,000 deposit which would knock the mortgage right down to £110,000.

Just wondering what negotiations people have achieved, I would hope for a deposit match up to 5% which would be £8,125 and carpets laid throughout.

Would this be realistic to achieve?
The property will be built ready for June which I understand is the end of their tax year and it is one of the last houses to be built on the development.

TIA

teddysmum

If the houses are popular, the builders will have no incentive to offer any reductions or free extras. Being one of the last available, could actually increase popularity where many want new, rather than 'second hand', homes.

hg1234

Its been advertised on right move since November, and Barratts are chasing me a lot i.e. ringing me everyday to ask how things are going, so i am guessing they are keen for the sale...

She also stated on the phone 'i'm sure I can sort something out for you' so I am not sure how to take that. I know that I would be able to have flooring throughout included so I am guessing this is a sign that there is some room for negotiation.

tootiemac

Our "House" has bee advertised on rightmove etc for a few months and they've not even started building it yet.
the most we managed to negotiate was extra fencing because the sales person agreed the plans were a little silly when it came to that.
unless its actually built and waiting to sell my experience is that there is little to give on these houses.

We're waiting to hear back on some compensatory items but its been a battle so far to get them to give anything. my mother would say its been like trying to get blood out of a stone.

If you can get incentives just watch it doesn't affect your mortgage offer. i think the rule of thumb is incentives worht 5% of the value of the house (or more) and it can affect the mortgage. Someone may be more certain but i think its especially so with cash incentives over fittings (i.e. carpets etc)

hg1234

This particular property comes quite high spec anyway i.e. with fencing, out door lighting, turf, fencing all included as standard so theres not much that i need to negotiate on there...
On the actual site its got a sign up stating 'ask about our 5% deposit match' so it may be worth asking them and then discussing further with my mortgage broker.

Thank you for that information as I did not know that it could affect mortgage applications!