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jb5000

Bovis offering to pay my deposit

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Out of idle curiosity we went for a look round a couple of new build houses roughly in the area we like. They'd slashed the price a few times so I was starting to sniff some desperation.

Houses were really average, bedrooms fine but the living space was miniscule. Usual crap 2 oblong rooms downstairs in a "5" bed show house. Barely room for a dining table, no utility area etc etc. Salesman went to see if a completed home might be available, when he left the office we just got in our car and left.

Since then I've had a voicemail every few days, and today I got a text message:

"Bovis Homes - 5% deposit paid for you... Saving you £25,000 on our stunning 5 bed homes! Come and visit this weekend"

Are we actually back in 2008?? Are Bovis set to collapse with this level of sales desperation? Is this even legal?

Walked past one of the occupied homes at a different Bovis site wondering if it might be different and in the window someone had taped A4 paper with "BOVIS - WHEN WILL YOU FINISH MY HOME AND GARDEN?? IT'S BEEN 2 YEARS YOU BUNCH OF .." and you can imagine the rest :lol:

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I went to see a Crest Nicholson development in outer london (sunbur) The sales chat was fixed price, no discounts...but we can "help" with stamp duty or even better do a great deal on a part exchange (average of 3 EA valuations... and nothing round here sells at EA vals anymore). I concluded they must be doing anything possible to get the land reg vals as high as possible to a) placate the mugs that have already bought B) anchor the mugs that have yet to buy to high prices.  

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Agree. It's bonkers.  But mid- and top-end are dead. Lower end alive. 300  - 400k seems to be what 2 "normal" full time salaries x 4.5 + a bit of BOMAD deposit will get you. 

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19 minutes ago, btd1981 said:

400k though :s

Do people not realise that's quite a lot!?!

Indeed, that's f'king mental.

Should be 2.5x joint salary as a ready reckoner for the long term.

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I often think that if I was a normal earner needing a property in the UK and had no morals, I'd do one of those teaser rates, deposit paid 100% deals, and hide all my assets in gold/other stuff, and just move in and pay the mortgage until the teaser rate ended and then go bankrupt.  Why don;t more people do this?

 

When the game is stacked against the common man so badly, breaking the board is the only logical move.

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On ‎07‎/‎04‎/‎2017 at 4:45 PM, jb5000 said:

 

Walked past one of the occupied homes at a different Bovis site wondering if it might be different and in the window someone had taped A4 paper with "BOVIS - WHEN WILL YOU FINISH MY HOME AND GARDEN?? IT'S BEEN 2 YEARS YOU BUNCH OF .." and you can imagine the rest :lol:

HA ha Quality

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20 hours ago, The Preacherman said:

Hope that its 2008 all over again. Where is this?

The timelines have gotten all messed up. Last time around Barratt Homes were doing 25% equity loans, now the Treasury is doing 20% equity loans.

As we now have the builder's 2005 equity loans going sour at the same time as the Treasury are making equity loans of their own the only rational course is re-boot the system with a colossal house price crash.

 

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