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Own New Rate Reducer
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hgift7
Posts: 7 Forumite
Hi, what's everyone's thoughts about this New Build Scheme. Where they will give 3% or 5% deposit contribution which will give you lower mortgage rates
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Just a disguised discount off the asking price isn't it?0
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A newbuild incentive can be taken as deposit, cashback, mortgage subsidy etc so why not as a means of obtaining a better rate? I did the training on it the other day. It'll be another idea to help people to buy.
Newbuild is what it is. Some people love it, others have the polar opposite view and I accept that. We have a chronic housing shortage and without newbuild it would be a lot worse. Are there lousy practices in the sector and should it be more stringently regulated? Absolutely!I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Because it's just smoke and mirrors? Developers could just lower the headline price of their new builds. To make the whole thing a bit less opaque.kingstreet said:A newbuild incentive can be taken as deposit, cashback, mortgage subsidy etc so why not as a means of obtaining a better rate? I did the training on it the other day. It'll be another idea to help people to buy.
Newbuild is what it is. Some people love it, others have the polar opposite view and I accept that. We have a chronic housing shortage and without newbuild it would be a lot worse. Are there lousy practices in the sector and should it be more stringently regulated? Absolutely!0
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