Early Redemption Penalties

Tiddler_2

Has the builder given you any incentives when buying the property (discount, contribution to deposit or additional items such as carpets, white goods etc)? Some lenders will not include these in a valuation.

I presume you bought off plan, and have exchanged contracts already - but even so you could be cheeky and ask the builder if they would be prepared to knock a bit off the price seeing as you committed early and the market has taken a downturn. 2.5% in the last month on average, and 2.5% of £390k is around £10k, so asking them for £6k would be less than this!!

All they can do is say no!