Friday, May 16, 2008
Panic on the streets of Belfast.....
Belfast Telegraph: Developer to pay first-time buyers' deposit
"One of the province's top residential property developers today threw a much-needed lifeline to beleaguered first-time buyers by offering to pay a 5% deposit and stamp duty."
Mr Fraser explained the offer would relate exclusively to the development's remaining Phase 4 homes.
"Our view at the moment is that there are many potential home buyers out there who are being hindered from getting on to the property ladder by the recent changes to lending criteria by many banks here and in Great Britain which we feel is rather unfair," he said.
PHONE NUMBER AND EVERYTHING - WHY IS THIS BLATANT ADVERT BEING RUN AS A NEWS STORY?
Posted by shipbuilder @ 03:23 PM (784 views) Add Comment
13 Comments
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1. Piledhigheranddeeper said...
Since relative normality has returned to the Province even a cat stuck up a tree is news but I suspect Mr Fraser's cat would be of considerably more interest to the Hacks than mine!
2. Rental John said...
"Our view at the moment is that there are many potential home buyers out there who are being hindered from getting on to the property ladder by the recent changes to lending criteria by many banks here and in Great Britain which we feel is rather unfair,"
recent changes to lending criteria = you can only get a mortgage on a property you can afford!
Get the impression they can't give them away.
3. pelethar said...
Nice spot sb - absolutely unbelieveable
4. jonb said...
Why is this news?.
Don't they all do that? And isn't it called mortgage fraud?
5. sosoon said...
Nothing new and a bit late, buyers now require a 25% deposit for all overpriced developers property
6. hpwatcher said...
They will do absolutely anything.........
BUT
reduce the price
7. Lagansider said...
Hmm, yet again the word that springs to mind, allegedly, is 'Advertorial' .
8. converted lurker said...
5% dipper won't be enough. try 25% and they'll be there, after all, that's the usual deposit lenders now require on new build.
9. inbreda said...
I would buy one if they offered a 5% deposit.
But only after haggling the price down by 50%!!
10. Slysmiles said...
1 word: Desparate.
11. malct said...
would it help to take some pressure off this evolving website if admin created at system whereby posters could communicate one 2 one but still annon?
just a thought.
12. Dcbert said...
The Belfast Telegraph run it as a story as they own Propertynews.com, the main property advertising site for estate agents in N Ireland.... why print bad news about the housing market if it materially affects your profits?
13. it_is_going_with_a_bang said...
When how does that work then?
If someone is selling you something for £100k and they only 'get' £95k from you then obviously they sold it to you for £95k.
Mortgage fraud again simple as that.
Anyway surely they could just 'over value' the property by the 5% anyway.
Surely if you declare to your lender what is happening they will just say NO it is being sold at 95% of 'asking price' now stump up the 5% of the 95% asking price.