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Buying a New Build using HTB? Watch Your Dates
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Sorry, just seen your reply. I mentioned something on your other thread just now. I should pay more attention to my notifications! I may well do the same. Thanksrobrymond said:I've tweeted and emailed Robert Jenrick but no replies. I'm trying to lobby and hopefully others do too.0 -
What on earth, they're telling you over a year when the foundations are already in?!
The site I do some extra work on is expecting delays of 8 weeks, which is the 8 weeks they chose to not work! Almost all of the trades are socially distanced on new builds anyway, the only time we weren't was when we chose to be next to eachother! Tradesmen are gagging for work, and they're currently working nationwide with social distancing not being an issue.0 -
Any new updates0
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Safe'n'Sound said:I have very recently been informed by the developer that my reserved new build home is no more. Well, not for me anyway. It all centers around the new delays in getting the house built and to the legal completion stage. The foundations are in, drains are covered and ground concrete has been set. The next stage is bricks/walls and upwards. We were forecast to move in Sep 2020 but that is now Jun-Aug 2021 due to it taking (the very large developer) 4 times more because of social distancing. This means we would have to use the new Apr 2021 HTB scheme which has an area price cap. Our reservation price is above that cap, too much to sort ourselves. There is talk of a cutoff date Dec 2020, as in if your house is not built by then, move onto the Apr 2021 HTB rules. I have asked HTB and awaiting confirmation before I throw the towel in.
I know some may say this is a blessing in disguise, but I mostly disagree. We were really set on this home as FTB's.
no updates at all in todays statement by Chancellor. maybe we have to wait till autumn. what will builders and developers do0 -
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Interesting, thanks for the info. I know they don't like links being posted here but here's a more open one. The FT is subscription, so you just see the headline.Dinpraad said:
https://www.financialreporter.co.uk/mortgages/government-drawing-up-plans-to-extend-help-to-buy-scheme.html
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