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Scunnered

Buy A House, Get A Free Mercedes

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Scotland on Sunday has an article on incentives being offered by house builders in Scotland (http://scotlandonsunday.scotsman.com/scotl...me-a.3834320.jp). These include the free £15,000 Mercedes, 105% part-exchange on your previous house, £500 a month towards mortgages, and a four-year guarantee to contribute towards an agreed rent on buy-to-let flats. You might think it would be easier just to lower the prices, but oh no, they can't do that. Are buyers actually taken in by this stuff? The four-year guarantee on the buy -to-let flats seems particularly dangerous for everyone concerned. Maybe the builders are just trying to get rid of the flats before they sell the company to someone else.

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Scotland on Sunday has an article on incentives being offered by house builders in Scotland (http://scotlandonsunday.scotsman.com/scotl...me-a.3834320.jp). These include the free £15,000 Mercedes, 105% part-exchange on your previous house, £500 a month towards mortgages, and a four-year guarantee to contribute towards an agreed rent on buy-to-let flats. You might think it would be easier just to lower the prices, but oh no, they can't do that. Are buyers actually taken in by this stuff? The four-year guarantee on the buy -to-let flats seems particularly dangerous for everyone concerned. Maybe the builders are just trying to get rid of the flats before they sell the company to someone else.

A "free" depreciating asset with each depreciating asset. Cool.

I wonder which will depreciate the fastest?

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A "free" depreciating asset with each depreciating asset. Cool.

I wonder which will depreciate the fastest?

at least you can only lose 15K on a mercedes.

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You have to ask yourself - Why don't they just reduce the asking price by £15,000 rather than stick a free Merc in the garage or help with with monthly mortgage repayments? The obvious answer is - this allows them to keep the selling prices recorded with the land registry high. No better than the scam exposed on BBC's panorama where the builders were offering to pay the 10% deposit for buyers and then including this amount in the figure given to the land registry. Just another bullsh*t scheme to keep house prices / market perception high :angry:

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Scotland on Sunday has an article on incentives being offered by house builders in Scotland

Why not just attend one of the many auctions offloading new build city centre flats?

They're having a BOGOF.

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Scotland on Sunday has an article on incentives being offered by house builders in Scotland (http://scotlandonsunday.scotsman.com/scotl...me-a.3834320.jp). These include the free £15,000 Mercedes, 105% part-exchange on your previous house, £500 a month towards mortgages, and a four-year guarantee to contribute towards an agreed rent on buy-to-let flats. You might think it would be easier just to lower the prices, but oh no, they can't do that. Are buyers actually taken in by this stuff? The four-year guarantee on the buy -to-let flats seems particularly dangerous for everyone concerned. Maybe the builders are just trying to get rid of the flats before they sell the company to someone else.

Problem is you still need 'mortgage money' in the deal somewhere in order to buy. Lenders are no longer turning a blind eye towards gifted deposits etc. and are knocking down new build valuations hard. So much so that mortgage offers are being made with all incentives stripped out, even then you're looking at 75% mortgages on new build flats. :)

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  • 297 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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