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ingermany

Act Now: First Come First Reserved: Persimmon Homes

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Persimmon Ad today: Invest in Your Future with a Buy to Rent Property in a British Army paper:

" Look at This!-Outgoing £385pcm-incoming £800 pcm"

The ad quotes a recent satisfied customer example:

" We gave him:

:) 25,995 discount of original price of 179995

:) 5% deposit

:) £1000 towards legal fees

:) arranged the mortgage

:) arranged a rental for £800 per month

HE PAYS JUST £385 PER MONTH!"

Zero deposit/100% mortgages for Buy to Let are being pushed. If the quoted example is correct it's easy to see why people would buy. Is this going on elsewhere?

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Thats a miniscule 14% reduction on an over-inflated new-build price

when we are on the brink of further price falls.

Stupid is as stupid does.

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:) House price deflation = -£1000 per month

:) Void periods = £0 a month incoming

:) Maintenance = £100 per month outgoing

:) Reversion to SVR = another £500 per month outgoing

:) Total loss about £1200 per month, if you're lucky :):)

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:) House price deflation = -£1000 per month

:) Void periods = £0 a month incoming

:) Maintenance = £100 per month outgoing

:) Reversion to SVR = another £500 per month outgoing

:) Total loss about £1200 per month, if you're lucky :):)

Just £1,200!

Where do I sign?

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Sure, there's bound to be a catch................... but it looks like the builder can secure the 100% loan, and is obviously making pretty extravagant "predictions" on the investment potential. I'm not saying I'd be tempted, but I guess many will be. With no up front costs if someone offers you a scheme to put in £385 per month and get £800 back, you might be tempted.

I did like the bit on the Ad that says ACT NOW: IT's FIRST COME FIRST RESERVED!!

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Sure, there's bound to be a catch................... but it looks like the builder can secure the 100% loan, and is obviously making pretty extravagant "predictions" on the investment potential. I'm not saying I'd be tempted, but I guess many will be. With no up front costs if someone offers you a scheme to put in £385 per month and get £800 back, you might be tempted.

I did like the bit on the Ad that says ACT NOW: IT's FIRST COME FIRST RESERVED!!

Nope builder cannot secure the loan.

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Nope builder cannot secure the loan.

I would have thought that too, but that is what they are offering.............literally "we arrange your mortgage" and even odder "we instruct your solicitor"(note: your solicitor)...............both of those promises would send me running in the opposite direction, but the builder appears to be making that promise.

The selling point is that you have zero outlay in money (or effort) and then get income from the house. The old addage of "if it seems too good to be true, it probably isn't" might apply, but I guess you would only learn that after you sign on the dotted line (especially if you take up the kind offer of their in-house solicitor).

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Hmmm.

I would think that they have attempted to lead you to believe that a builder gifted deposit mortgage will be available without actually saying so.

Crap strategy which will only piss off those who enquire and find that it's nort what they thought it was.

Lenders will not consider this scheme any longer.

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Hmmm.

I would think that they have attempted to lead you to believe that a builder gifted deposit mortgage will be available without actually saying so.

Crap strategy which will only piss off those who enquire and find that it's nort what they thought it was.

Lenders will not consider this scheme any longer.

To be fair, the builder is actually saying so, at least that's how it reads to me. Looks like 100% mortgage on BTL which I thought had stopped about 2 years ago..........:

img2397o.jpg

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To be fair, the builder is actually saying so, at least that's how it reads to me. Looks like 100% mortgage on BTL which I thought had stopped about 2 years ago..........:

img2397o.jpg

The question you have to ask yourself is ' why would any business give money away ?'. If they honestly believe their own figures they would do it themselves.

How stupid can people be ? -- ooh look this builder wants to give me money - yes of course they do - now be a good boy and take the medicine.

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I doubt if they have even arranged the rental. They are just guaranteeing the rent payment, so its like cash back. Really it ought to be taken into account when the mortgage is arranged and the property valued but suspect dodgy surveyors will be employed.

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I really really f**king hate Persimmon, when I say "really" I mean, really really f**king hate them.

I bought a house off them 10 years ago. It was a joke. Not a straight (or flat) wall in the building. Nothing worked. Lots of problems. Boiler blew up !!! I mean, they do this for a living and they dont know what a right angle is or can fit plumbing.

When I complained, I basically got threatened !!!

The house itself was badly designed, I thing they have monkeys in their architects department, though from what I see they only have about 6 styles of houses, which I would name...

1) Small and sh*t

2) Not as big, but just as sh*t

3) Small with a single garage that you cant park a fiat 500 in ( original fiat 500 that it ), and sh*t

4) very very small...and sh*t

5) So small no one in their right ming would buy it...and sh*t.

6) f**king tiny, and sh*t

A friend of mine bought a "Bloor" home ( i think it was them ) at the same time. It was actually smaller, but better designed, and felt bigger. The finish was 100 times better as was the service...They never got threatened when they complained about problems and the problems were fixed immediately.

Personally, I relish the day when I hear they have gone belly up and their main share holder/owner has used himself and a 4 foor piece of rope to demonstrate a persimmon plumb line.

Did I mention I f**king hate persimmon and wouldnt touch them with a barge pole...or a immigrant pole for that matter :lol:

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I really really f**king hate Persimmon, when I say "really" I mean, really really f**king hate them.

I bought a house off them 10 years ago. It was a joke. Not a straight (or flat) wall in the building. Nothing worked. Lots of problems. Boiler blew up !!! I mean, they do this for a living and they dont know what a right angle is or can fit plumbing.

When I complained, I basically got threatened !!!

The house itself was badly designed, I thing they have monkeys in their architects department, though from what I see they only have about 6 styles of houses, which I would name...

1) Small and sh*t

2) Not as big, but just as sh*t

3) Small with a single garage that you cant park a fiat 500 in ( original fiat 500 that it ), and sh*t

4) very very small...and sh*t

5) So small no one in their right ming would buy it...and sh*t.

6) f**king tiny, and sh*t

A friend of mine bought a "Bloor" home ( i think it was them ) at the same time. It was actually smaller, but better designed, and felt bigger. The finish was 100 times better as was the service...They never got threatened when they complained about problems and the problems were fixed immediately.

Personally, I relish the day when I hear they have gone belly up and their main share holder/owner has used himself and a 4 foor piece of rope to demonstrate a persimmon plumb line.

Did I mention I f**king hate persimmon and wouldnt touch them with a barge pole...or a immigrant pole for that matter :lol:

Classic Rant :P

A friend of mine has a persimmon house and decided to change the work tops......big mistake. The walls were so out of plumb that the kitchen fitters actually cut the sh*t boarded walls out and slotted it in to place....amateurs. Also whats with the fu8king sh*t trademark stone that adorns every single fu8king house.

Nearly forgot, the estate was also voted the worst new development in the U.K.

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