New build price drop after exchange advice

Mickygg

happy35 wrote: »

Thanks everyone, the price has been dropped by the developer, if it had been a re-sale it wouldn’t be an issue.

The solicitor and financial adviser can’t guarantee there will be no issues with a mortgage extension now the price has dropped, that is the real cause for concern- they are obviously really upset as they were told prices would rise as more houses were released and they have fallen.

Oh dear rule number 1 don’t believe sales people with remarks such as next phase prices will increase.
When I bought my new build I was even told garden was south facing when I had the brochure in front of me telling me it was north.
They will say anything for a sale. Mine certainly did.

happy35

Mickygg wrote: »

Oh dear rule number 1 don’t believe sales people with remarks such as next phase prices will increase.
When I bought my new build I was even told garden was south facing when I had the brochure in front of me telling me it was north.
They will say anything for a sale. Mine certainly did.

No I don’t either, they have bought in a new phase and were told that when others were released they would be st the same price as the one they bought.

I feel sorry for them, they are both early 20s and were very excited after saving hard up until yesterday.

csgohan4

Mickygg wrote: »

Oh dear rule number 1 don’t believe sales people with remarks such as next phase prices will increase.
When I bought my new build I was even told garden was south facing when I had the brochure in front of me telling me it was north.
They will say anything for a sale. Mine certainly did.

Agreed, I was looking ta new builds and said it was the last one, was still selling 6 months after I bought an older house

Crashy_Time

The real bargains will probably come after Corbyn gets in?

https://www.estateagenttoday.co.uk/breaking-news/2019/4/anger-at-labour-plans-to-control-house-price-rises?source=newsticker

Sibz

markin wrote: »

Help to buy helps push up the price, As soon as its not new its more expensive that a 10 year old house for no real reason.

Actually - it just helps increase the affordability so you have more potential buyers. A lenders isn't just going to fund another several grand because someones using HtB. The house is valued like any other house.
You may argue that the use of HtB widely across the UK has lead to house prices rising for new builds but it has also lead to their value rising as given by surveyors.