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Buying a house...
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My boyfriend are looking to buy our first home, at some point/eventually, and whilst looking at the photos of the one I want (I've already found my dream home!), the listing has been updated with the offer of a 75%-25% deferred equity scheme. Can anyone tell me the pros and cons of buying a home like this?
The house is a new build and been on the market for over three months now. It seemed a bit overpriced at the time we went to view it, but my friend, the estate agent that showed it to us, said the developer would probably accept a lower offer back then, too.
My boyfriend has around a quarter of the house's worth available as a deposit, but I'm not sure if that has any bearing on the scheme? I would appreciate any general advice, please. Thanks. :)
The house is a new build and been on the market for over three months now. It seemed a bit overpriced at the time we went to view it, but my friend, the estate agent that showed it to us, said the developer would probably accept a lower offer back then, too.
My boyfriend has around a quarter of the house's worth available as a deposit, but I'm not sure if that has any bearing on the scheme? I would appreciate any general advice, please. Thanks. :)
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i dont know anything about this scheme, but i would check that the shared ownership meant that both any increase AND decrease was shared.
If prices do fall in the next year or so you dont want to find yourself liable for another 25%.
New builds are often overpriced too and its easy to get carried away with all the nice looking extras, dishwashers / washer dryers etc. But just think that youll be paying for 25 years + for those extras.
If prices do fall in the next year or so you dont want to find yourself liable for another 25%.
New builds are often overpriced too and its easy to get carried away with all the nice looking extras, dishwashers / washer dryers etc. But just think that youll be paying for 25 years + for those extras.
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