Bellway Discounts????

glen8

poppy10 wrote: »

LOL, look forward to seeing you on the bankruptcy forum in 12 months time. :beer:

What a stupid thing to say based on the limited information provided. Maybe they have some money coming to them in the future, or own other properties which they can sell. Future job prospects etc etc etc

I would have expected better from someone who joined this forum on Sept 2006 :eek:

poppy10_2

glen8 wrote: »

I would have expected better from someone who joined this forum on Sept 2006 :eek:

Why?
Was that a particularly good month for MSE recruits?

glen8

poppy10 wrote: »

Why?
Was that a particularly good month for MSE recruits?

that made me chuckle, I like that

consnmattsmom

poppy10 wrote: »

LOL, look forward to seeing you on the bankruptcy forum in 12 months time. :beer:

What the hell do you know about my circumstances? Just because we have a 95% mortgage dont mean we cant afford to pay for it!!

poppy10_2

consnmattsmom wrote: »

What the hell do you know about my circumstances? Just because we have a 95% mortgage dont mean we cant afford to pay for it!!

You have a 100% mortgage. The developer has inflated the price by 5% and "gifted" this back to you in the form of a deposit.
With prices on their way down, this puts you in instant negative equity. :T

Plus, the fact that you haven't had the discipline to save up even a minor deposit, and had no equity in your last house, tells me everything I need to know about your leet financial skillz. :hello:

consnmattsmom

Really!!!

U dont know crap about our financial status therefore as this site is to not make judgement but give advice then I would shut up!!

If I thought we would be repossessed or have to go bankrupt in years to come do you think I would go thru with it? This new house is going to be our house for years and years who knows what will happen over the next few years we have a good fixed rate and we will be in a position to save quite a lot over the first few years to pay off a lump sum when it comes to swapping in a few years time.

SquatNow

poppy10 wrote: »

You have a 100% mortgage. The developer has inflated the price by 5% and "gifted" this back to you in the form of a deposit.
With prices on their way down, this puts you in instant negative equity. :T

Plus, the fact that you haven't had the discipline to save up even a minor deposit, and had no equity in your last house, tells me everything I need to know about your leet financial skillz. :hello:

You've failed to add that new-builds loose 20-30% of their value the moment you move in.

TBH it's a pointless conversation anyway as there is no-way in hell he's going to get a mortgage on those terms.

The banks surveyor will walk in, spend 10 seconds looking around and write £140,000 on his valuation form, then walk out again.

Add in that most banks wont lend more than 75% LTV on new builds.

consnmattsmom

SquatNow wrote: »

You've failed to add that new-builds loose 20-30% of their value the moment you move in.

TBH it's a pointless conversation anyway as there is no-way in hell he's going to get a mortgage on those terms.

The banks surveyor will walk in, spend 10 seconds looking around and write £140,000 on his valuation form, then walk out again.

Add in that most banks wont lend more than 75% LTV on new builds.

That is where you are wrong. Its valued at £169995 and also we have the mortgage offer from RBS. They are aware of the incentives.

Jorgan_2

Update on my next door neighbour buying a Bellway flat, he's pulled out. Noting to do with the credit crunch, just decided he was better off living at home, rent free. He was buying at £88k with a 5% depoist paid by Bellway, mortgage of about £70k. Bellway rang last week offering the flat for £60k!

iyiarz

Developers are a bit greedy still. We viewed some new houses over the weekend. they had 1 1/4 million pounds 'worth' in a single 4 house terrace which occupied a piece of land the size of a postage stamp. You couldn't play with one of those tenis ball on a pole things in the back garden it was so small.

A new 5 bed+study detached house I viewed yesterday was on at £325,000 but they said I could offer well below the £300,000 mark. Its location on the site wasn't the best, but not terrible. It was 'stock' they needed to shift.