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the tide IS turning for developers

bukup
bukup Posts: 235 Forumite
in House buying, renting & selling
Lenders are no longer giving developers the comfort of selling off-plan. Well not in the time period they have had in recent years.No longer are they allowed to exchange unless the property will be complete within 13 weeks.This will surely have an impact,particularly for buyers who were exchanging off plan and getting generous discounts on average of 20% !

Comments

  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    Do you have anything to back up your statements?
    Gone ... or have I?
  • epz_2
    epz_2 Posts: 1,859 Forumite
    the generous discounts still left the places well overpriced, it might mean less newbuilds but people able to get a mortgage and after that sort of thing will still buy, just over a shorter period.
  • bukup
    bukup Posts: 235 Forumite
    dmg24 wrote: »
    Do you have anything to back up your statements?

    I will provide evidence but need to find it ! I will post this later on ,thanks.
  • guppy
    guppy Posts: 1,084 Forumite
    Part of the Furniture Combo Breaker
    A lot of new builds exchange and complete on the same day anyway.
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    ts_aly2000 wrote: »
    Buy yourself a stunning 1-bedroom bedsit, get on the housing ladder. Yeah. Live right outside a nightclub and have a foyer lit up in groovy neon blue!!


    Get on the housing PYRAMID.
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
This discussion has been closed.
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