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Fudge

0% Deposit On Selected Properties

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Did some shopping in Kettering today and in all the windows of Bairstow Eves estate agents it

had 0% deposit on selected properties.

Is this the same dodge the developers have been found out using?

Stick 10% on top of the price of the property and seller gives 10% cash to the buyer so they can

get the 90% mortgage.

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Did some shopping in Kettering today and in all the windows of Bairstow Eves estate agents it

had 0% deposit on selected properties.

Is this the same dodge the developers have been found out using?

Stick 10% on top of the price of the property and seller gives 10% cash to the buyer so they can

get the 90% mortgage.

Allen and Harris are advertising a £99 down scheme in Oxford as well. Details here.

Terms & Conditions

Based on paying 5% of the price, stamp duty, £500 legal and £500 towards mortgage-fees. On selected developments and properties only, Terms and Conditions apply. Offer can be withdrawn at any time and is subject to using the recommended mortgage broker who will provide independent advice, details available on request.

Edited by Timm

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Offer can be withdrawn at any time and is subject to using the recommended mortgage broker who will provide independent advice, details available on request.

This is something that should be stopped.

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Well you can't have too much of a good thing...

I pity the people who fall for this. And damn the swines who set these traps.

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http://www.sheffieldforum.co.uk/showthread...6780&page=2

Noticed this posted by an EA on a Yorkshire forum. Vendor pays deposit? What a great idea! :rolleyes: Isn't this sort of logic how we got in this mess in the first place?

Quote: the estate agent i work in have had a few sales fall through due to the 100% mortgage offer falling through. Some lenders now offer a maximum of 85% mortgage with the other 15% put down as a deposit by yourselves.

We are now urging our vendors to offer a vendor paid deposit which should ease this problem as it will make the proeprty cheaper for the purchaser and eventually end up in a sale. Not sure how the vendors are taking this!

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Noticed this posted by an EA on a Yorkshire forum. Vendor pays deposit? What a great idea! :rolleyes:Isn't this sort of logic how we got in this mess in the first place?

Yes. It is. In the absence of Eric:

These deals are fraud.

I've posted before about how my area manager threatened to sack me when I kicked up a stink when the then Hambro Countrywide introduced vendor paid deposits.

That was in 2000.

Unlike in 2000, the victims of the fraud now will be those who take these deals, and people who have money invested in the deals, or in companies who make them.

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Yes. It is. In the absence of Eric:

These deals are fraud.

I've posted before about how my area manager threatened to sack me when I kicked up a stink when the then Hambro Countrywide introduced vendor paid deposits.

That was in 2000.

Unlike in 2000, the victims of the fraud now will be those who take these deals, and people who have money invested in the deals, or in companies who make them.

Well thats what I thought. This is blatant fraud made to look like normal business.

Well desperate times call for desperate measures. What else can estate agents do?

If they don't they may as well shut up shop and go home.

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Well thats what I thought. This is blatant fraud made to look like normal business.

Well desperate times call for desperate measures. What else can estate agents do?

If they don't they may as well shut up shop and go home.

Indeed, perhaps they should. They could always retrain - I have.

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Indeed, perhaps they should. They could always retrain - I have.

Just seen this post now...

Well - here we go --- TOTAL DESPERATION by the VI's. I just hope and pray that no one takes it up. Anyone know who this should be reported to? :P Yes - I know - little point --- all this INSTITUTIONAL FRAUD is positively encouraged - after all - look how MPs have been milking the system for years......

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Vendor pays 10-15% deposit for the buyer?

Disguising a 10-15% fall in prices. If this is widespread it means all the house price stats are meaningless. Also makes a mockery of the lender's "independent" valuation. Reminds me of the Albanian pyramid scams. When the crims running the scams knew that collapse ws imminent they started pushing the schemes with incentives, discounts and great deals. This is a sure sign of impending disaster.

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Vendor pays 10-15% deposit for the buyer?

Disguising a 10-15% fall in prices. If this is widespread it means all the house price stats are meaningless.........

They actually always have been --- certainly over the past decade. The WHOLE thing is an organised scam....

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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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