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Taylor Wimpey Offering Mortgages With 5% Deposit

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Keep getting these emails from Taylor Wimpey (had registered with them during boom years B). Was surprised to see this:

I can’t afford a big mortgage but I’m desperate to buy. What can I do?

With easystart moving has never been easier, faster or more affordable.

You only need a 5% deposit and you own 100% of your new home but pay only 85% now.** You have up to 10 years to repay the outstanding amount at market value.

I just can’t seem to save enough deposit and I’ve been saving for ages?:lol::lol:

We’ve got several ways we could help.

We have the solution for most moving difficulties and a team of experts on hand to make sure you get the right deal to suit you. For example, we can help you move if you don’t have enough deposit, as whatever deposit you’ve got saved we could double it, up to 10% of the purchase price, which means you’ll be able to get a smaller mortgage.

Things must be pretty bad if they have to offer such 'incentives'. Anyone else getting such emails? Look at the attached image.

Your Place - National Monthly Newsletter from Taylor Wimpey Group_1299679457913.png

post-13947-0-00179100-1299679652_thumb.png

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Had a look at the price and plans for a local one...2 beds, no garage, £160k, The Oak.

Our current Lounge is bigger than the entire floor plan.

second hand 3 bed homes are available locally much bigger, so really, the only person paying for the "incentive" is the buyer paying over the odds.

No wonder most reputable lenders wont touch newbuilds with a barge pole.

And of course, the HomeBuy schemes are gone now.

TBH, Id go for a place like that for half the money.

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Taylor Wimpey are building on a prime site near me a small site of the usual executive houses - from 290K to about 550K asking.

The footings are in and the first house has its walls up. I, and others I know, are staggered by how small they are for the price. Several of the houses will back on to a very busy road which is both a hill and a bend. The boy racers love screeching up and down there of an evening occasionally sounding their air horns.

Suffice to say the EA is advertising them still.

A relative, so I am told, has bought one. Part ex I am told. Returning to Swansea.

Edited by The Masked Tulip

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The footings are in and the first house has its walls up. I, and others I know, are staggered by how small they are for the price. Several of the houses will back on to a very busy road which is both a hill and a bend. The boy racers love screeching up and down there of an evening occasionally sounding their air horns.

Depressing. How do these builders get away with it? Just cannot fathom it. :angry:

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So in 10 years you need to find a chunk of cash ...

If you can't save now how will you when you have a house to maintain?

And there is the question that everybody taking out an Interest Only Mortgage should have been asked and required to provide a satisfactory answer to.

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The crash got underway in my area about a week or so ago when I put in an offer on a house that was on for a silly peak of market price of £325k last summer. After a series of drops down to £249k my offer of 200k was accepted. The vendor obtained a large drop on their purchase as that person has already gorn to OZ.

Perhaps when the anals of HPC history are written they will say it began in East Sussex and spread like wildfire from there. :D

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The crash got underway in my area about a week or so ago when I put in an offer on a house that was on for a silly peak of market price of £325k last summer. After a series of drops down to £249k my offer of 200k was accepted. The vendor obtained a large drop on their purchase as that person has already gorn to OZ.

Perhaps when the anals of HPC history are written they will say it began in East Sussex and spread like wildfire from there. :D

I didn't realise that had been accepted RB, I thought you said that was in doubt.

Well done you, right all along.

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The crash got underway in my area about a week or so ago when I put in an offer on a house that was on for a silly peak of market price of £325k last summer. After a series of drops down to £249k my offer of 200k was accepted. The vendor obtained a large drop on their purchase as that person has already gorn to OZ.

Perhaps when the anals of HPC history are written they will say it began in East Sussex and spread like wildfire from there. :D

Sorry RB, but I think you'll find Northern Ireland went down first. ;)

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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