Own New Rate Reducer

hgift7

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

Veteransaver

Just a disguised discount off the asking price isn't it? 

kingstreet

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!

Veteransaver

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!

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.