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Deposits for a new build
carlyhall
Posts: 1 Newbie
Hi can anyone help me? I have two questions I need help with.
1- I have seen a property for £280,000 and being told on the show around its £280,000 the estate agent’s have now told use they want £290,000 for the property? Is this how things happen?
2- we have also been told by our broker we need a 20% deposit if we would like a new build property. I was under the impression new builds are 10%?
Someone please help?
0
Comments
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Hi there. Until exchange happens (assuming that you are England and Wales ) no price or agreement is set in stone. So either party can pull out or change terms up until the exchange.
Your broker may be telling you that you need 20% deposit because your income cannot service the greater mortgage.0
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