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Builder deposits and incentives
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JM2194
Posts: 17 Forumite
Hi,
we are in the process of buying a new build house, we accepted an offer on our current property for £115k, the buyer later pulled out of the sale. We have now accepted £112k, with the view of the builder giving us £3k cash back on completion to pay off an outstanding debt which we want to clear to get the mortgage. However, the builder is already giving us a 5% deposit contribution so an extra cash incentive they give us would be beyond our mortgage lender ( platform) criteria, we don’t want to borrow the money from family. Does anyone have any good ideas, or been in a similar situation?
thank you!
we are in the process of buying a new build house, we accepted an offer on our current property for £115k, the buyer later pulled out of the sale. We have now accepted £112k, with the view of the builder giving us £3k cash back on completion to pay off an outstanding debt which we want to clear to get the mortgage. However, the builder is already giving us a 5% deposit contribution so an extra cash incentive they give us would be beyond our mortgage lender ( platform) criteria, we don’t want to borrow the money from family. Does anyone have any good ideas, or been in a similar situation?
thank you!
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