We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help to buy loophole?
BobbingtonIII
Posts: 13 Forumite
Hi all,
We have been approved for our help to buy mortgage pending the valuation on the house, which is a new build.
Long story short, it has been undervalued by £4,750 by a surveyor who is supposedly banned from the site, but went when sales lady wasn't in. Asked builder to drop the price by 5k to match but they refused and asked us to try a new lender.
We both have new jobs so are very restricted on who we can go to lender wise.
However, I read something today that said when you provide help to buy, you have to sell the new builds at market value (i.e. the valuation) without any exceptions. A lady had managed to get her house at the valuation price after the HCA (homes and communities association) had spoken to the builder and reinforced the rules.. has anyone ever heard of this??? Not sure if this is a thing as I cant find any mention of it on help to buy website, or the HCA website.
Also not sure if builder would contest the rule if it exists as they are openly against the surveyor. They haven't offered to provide valuations for all the other houses the same as ours which have sold. which makes me wonder if they sold for less?!
Help!
We have been approved for our help to buy mortgage pending the valuation on the house, which is a new build.
Long story short, it has been undervalued by £4,750 by a surveyor who is supposedly banned from the site, but went when sales lady wasn't in. Asked builder to drop the price by 5k to match but they refused and asked us to try a new lender.
We both have new jobs so are very restricted on who we can go to lender wise.
However, I read something today that said when you provide help to buy, you have to sell the new builds at market value (i.e. the valuation) without any exceptions. A lady had managed to get her house at the valuation price after the HCA (homes and communities association) had spoken to the builder and reinforced the rules.. has anyone ever heard of this??? Not sure if this is a thing as I cant find any mention of it on help to buy website, or the HCA website.
Also not sure if builder would contest the rule if it exists as they are openly against the surveyor. They haven't offered to provide valuations for all the other houses the same as ours which have sold. which makes me wonder if they sold for less?!
Help!
0
Comments
-
A) Contact your help to buy agent and ask for their advice
If the houses have completed sale, google the street name and/or find post code then search below to find price:
http://landregistry.data.gov.uk/app/ppd/0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards