Jump to content
House Price Crash Forum
Sign in to follow this  
2005

Is This A First?

Recommended Posts

Just go the local paper and this advert stood out.

The Village

(Picture of a teenage punk next to a block of newbuild flats)

WE CAN'T GUARANTEE HOW YOUR KIDS WILL TURN OUt IN 5 YEARS TIME

BUT WE CAN GUARANTEE THE FUTURE VALUE OF YOUR HOME

Assured Value Scheme

During the guarantee period, if the purcahser complets a sale of the property for less than the original purchase price (the net price after any incentives applicable), Countryside Properties ill reimburnse the difference. Guarantee period commences on the second anniversary of completion of the purcahse from Countryside Properties and expires on the fifth anniversary. Subject to addtional terms and conditions on request.

What do you think?

Share this post


Link to post
Share on other sites

Just go the local paper and this advert stood out.

The Village

(Picture of a teenage punk next to a block of newbuild flats)

WE CAN'T GUARANTEE HOW YOUR KIDS WILL TURN OUt IN 5 YEARS TIME

BUT WE CAN GUARANTEE THE FUTURE VALUE OF YOUR HOME

Assured Value Scheme

During the guarantee period, if the purcahser complets a sale of the property for less than the original purchase price (the net price after any incentives applicable), Countryside Properties ill reimburnse the difference. Guarantee period commences on the second anniversary of completion of the purcahse from Countryside Properties and expires on the fifth anniversary. Subject to addtional terms and conditions on request.

What do you think?

That's well open to fraud, surely? Sell your flat to mum and dad for a tenner, you pocket 160K. Bargain. ;)

Share this post


Link to post
Share on other sites

Just go the local paper and this advert stood out.

The Village

(Picture of a teenage punk next to a block of newbuild flats)

WE CAN'T GUARANTEE HOW YOUR KIDS WILL TURN OUt IN 5 YEARS TIME

BUT WE CAN GUARANTEE THE FUTURE VALUE OF YOUR HOME

Assured Value Scheme

During the guarantee period, if the purcahser complets a sale of the property for less than the original purchase price (the net price after any incentives applicable), Countryside Properties ill reimburnse the difference. Guarantee period commences on the second anniversary of completion of the purcahse from Countryside Properties and expires on the fifth anniversary. Subject to addtional terms and conditions on request.

What do you think?

They can't be serious. You could flip it to your mate for half the price and then get them to reimburse you.

Share this post


Link to post
Share on other sites

That's well open to fraud, surely? Sell your flat to mum and dad for a tenner, you pocket 160K. Bargain. ;)

That was my first thought by I bet the 'addtional terms' inlcudes something about having one of their valuers do an up to date valuation on the property before they could cough up.

Share this post


Link to post
Share on other sites

i think the company will have gone bust before they have to pay anything out.

are things really that bad that they have to use this to get people to buy.

you just cant go wrong with property.

I am sure this was the same development that was the first to start offering cars with every purcahse. They gave away a street Ka with every flat......most of those cars are now taking up floor space in car craft/yes car credit showrooms.

Share this post


Link to post
Share on other sites

There will be a list of exemptions as long as your arm and they probably get to choose the surveyor, these places are probably furnished too, so you will sign two contracts when buying the property, £20k for all the tat inside and the rest for the house.

Or maybe the developer simply doesn't expect to be in business in five years time if things got that bad that they needed to pay out.

Share this post


Link to post
Share on other sites

They are doing this in Kent . 1 stipulation is you must have 2 independant valuations from estate agents.

I am considering it because I am STR and I see this as a way of buying and having a guarantee 25% off when the market crashes.

Might stop the mrs nagging about renting as well

Share this post


Link to post
Share on other sites

They are doing this in Kent . 1 stipulation is you must have 2 independant valuations from estate agents.

I am considering it because I am STR and I see this as a way of buying and having a guarantee 25% off when the market crashes.

Might stop the mrs nagging about renting as well

how much confidence have you got in the vendor being able to afford to repay you.

Share this post


Link to post
Share on other sites

This can only be worth anything if there is an insurance policy backing up the scheme.

Infact the risk might already be offloaded via a policy.

The insurers would have made calculations before setting the premium.

Share this post


Link to post
Share on other sites

Or maybe the developer simply doesn't expect to be in business in five years time if things got that bad that they needed to pay out.

Yeah -that's what I thought when first read it. The guarantee period only starts 2years after sale - so they sell all the properties over the next 2 years and then go bust. eureka

Except it says CountryWide are paying?

Oh no-it's CountrySide not Countrywide,never heard of them

Edited by miro2021

Share this post


Link to post
Share on other sites

Assured Value Scheme

During the guarantee period, if the purcahser complets a sale of the property for less than the original purchase price (the net price after any incentives applicable), Countryside Properties ill reimburnse the difference. Guarantee period commences on the second anniversary of completion of the purcahse from Countryside Properties and expires on the fifth anniversary. Subject to addtional terms and conditions on request.

What do you think?

If you read the small print you will find that the company giving the guarantee is not actually Countryside but some obscure Limited company. Basically, if the shit really hits the fan and lots of people claim on the "guarantee", the Limited company will simply fold.

The same is by the way probably true for all guarantee schemes of this type, including rental guarantees.

Share this post


Link to post
Share on other sites

Or maybe the developer simply doesn't expect to be in business in five years time if things got that bad that they needed to pay out.

Sounds like you've worked for a company that does Council window replacement contracts.

Share this post


Link to post
Share on other sites

If you read the small print you will find that the company giving the guarantee is not actually Countryside but some obscure Limited company. Basically, if the shit really hits the fan and lots of people claim on the "guarantee", the Limited company will simply fold.

The same is by the way probably true for all guarantee schemes of this type, including rental guarantees.

Actually Countryside do have several developments under diferent Ltd companies

Countryside (XXXX) Ltd as opposed to the actual parent company

Share this post


Link to post
Share on other sites

Yeah -that's what I thought when first read it. The guarantee period only starts 2years after sale - so they sell all the properties over the next 2 years and then go bust. eureka

Except it says CountryWide are paying?

Oh no-it's CountrySide not Countrywide,never heard of them

Countryside is a well-established, Essex based builder

Edited by Casual Observer

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.