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Halifax And Persimmon In Latest Ftb Con

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I just saw this press release, thought you might be interested in the latest scam to make people pay too much...

Halifax offer lifeline to first time buyers

Leading housebuilder, Persimmon Homes, and the UK's largest mortgage lender, Halifax, have teamed up to offer first time buyers a helping hand with a brand new initiative.

Persimmon Homes' new ‘Double your Deposit' scheme offers first time buyers the opportunity to double their savings, which they can then use as that all important investment in their first home.

The scheme helps first time buyers bridge the gap between their savings and the minimum deposit needed for their home. This is achieved by making regular deposits into a savings account, with Halifax or Bank of Scotland, for a minimum of six months, with an upper limit of £5,000. If the savings are used as a deposit on a brand new Persimmon home, Persimmon will match the savings exactly pound for pound, thereby doubling the deposit*.

For example, if £5,000 is saved after a minimum of six months, Persimmon will double this to £10,000, turning this into either a 10 percent deposit on a £100,000 property or five percent deposit on a £200,000 property.

The new scheme is designed to encourage young people to become savers rather than spenders, and give them the confidence that they can buy their own property in the not too distant future.

David Bryant, Group development director of Persimmon Homes, said: "This scheme is designed for any first time buyer, from students moving through further education, to people in their 20s and even 30s who have been unable to buy a home. Indeed, it can make a real difference in people's circumstances, on getting onto the property ladder or not.

"Not only will the ‘Double your deposit' scheme allow more people to be able to afford a deposit for a new home, it actually encourages young people to save instead of spend. We are delighted that Halifax is supporting this - as the UK's number one savings provider and leading brand for first time buyer mortgages, they have experience in helping this purchaser group onto the ladder, which is the ultimate aim of our campaign."

Mike Bottomley, national new build manager for Halifax said: "This is a great deal for first time buyers. By opening a new Halifax account and saving regularly, potential home owners are planning for the financial commitment of buying their first home. Doubling their deposit in this way should be a major incentive for first time buyers."

For further information on the ‘Double your Deposit' scheme, tips on saving and Persimmon developments across the UK, visit www.persimmonhomes.com/savings or call 08459 10 10 11.

Savers can choose any Halifax or Bank of Scotland savings account depending on their preferences. Current best buys include the Bank of Scotland instant access savings account at 6.5 percent AER or the Halifax guaranteed saver reward at 6.25 percent AER. Visit www.halifax.co.uk for further details.

*Terms and conditions apply

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I just saw this press release, thought you might be interested in the latest scam to make people pay too much...

Funny how this sort of stuff only turns up when buyers (and bank depositors for that matter) are in short supply. I can't recall them ever giving a ****** about helping FTBs when they had a steady stream of BTL punters queueing up to empty their wallets for anything they had going.

This has to be a classic indicator of carnage happening as we speak. BOL!

Edited by cheeznbreed

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Ivestors like very much:

PERSIMMON PLC 365.50 54.00 +17.34%

In fact, its housing stock frenzy time once again! Get in quick.

TAYLOR WIMPEY 53.00 7.25 +15.85%

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Guest DissipatedYouthIsValuable
I've saved £10,000 in the last few months merely by not buying a house :lol:

Similarly, my rent has paid for itself.

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this is as bad as when Nick o'Teen teamed up with Peter Sutcliffe to fight Roy Castle, Biddy Baxter and the Green Cross Man to win the opinion about all the harm smoking could do to your lungs.

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This is just a load of rubbish, the T&Cs will state, in many more words that in order to qualify you must take out a mortgage with an above market rate interest rate and / or overpay for the house by £5k.

Its not necessarily bad business by HBOS though, it will probably encourage a fair few savers, which is what they will be needing at the moment.

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This is just a load of rubbish, the T&Cs will state, in many more words that in order to qualify you must take out a mortgage with an above market rate interest rate and / or overpay for the house by £5k.

Its not necessarily bad business by HBOS though, it will probably encourage a fair few savers, which is what they will be needing at the moment.

Still waiting for that prat Howard to be replaced by Paul Daniels on the HBOS ads. If there's any real benefit here, they'll allow a mortgage by any lender for ANY Persimmon built home. Shit, no, that defeats the whole object of the scam.

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This level of collusion is nothing new, it epitomizes the last 10 years.

Utter corruption of the highest order :angry:

"Oi FSA..WAKE UP! you useless muppets", hell put the SFO on it! we pay for both departments and now it seems no one is out to protect Joe frigging public.

Anyone stoopid enough to fall for this SCAM (as that is what is is) should have full recourse to sue the shit outta both of em (IF THEY STILL EXIST???) in a years time.

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Heard an advert on the radio today from Barratt's saying buy the house for 85% of it's value and pay the remaining 15% in future. :huh:

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With New Builds just wait till one goes on the open market by a previous buyer, or at a reposession auction from a novice BTL (Buy To Let) and you will get a significant discount. Don't buy from the Developer do your own Research .

Its amazing all these New Builds were catered to the BTL market and now that BTL have all bailed out they are trying to pass these overpriced S***H*** to FTBs (First Time Buyers).

TIP : Be warned on any New Build Estate if BTLs have bought in recent years, the prices will drop significantly. BTL portfolios being reposessed are on the rise, this spiralling prices down in the vicinity.

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But, but Halifax give you 50 times extra. The freaky man in the advert told me so. He sells me his 400% interest rate saving account (50 times my existing one) and I'm tempted by it, I have to admit, I'm damned tempted. I might go to them and get one on my day off. I don't care how dodgy and irritatingly dancy they are, I want that 50 times extra savings. It belongs to me. It calleth me to their BRANCH. They just asking for me to be there and revel in their amazing glory!

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HBOS is one of the biggest lenders on commericial and develoment properties in the UK.

Seems to me that encouraging FTBs to save for a deposit then 'giving' them £5k to buy a house produces a double benefit for HBOS. It increases it regulatory capital and also gets the housing market moving.

I do not know if HBOS are a lender to Persimmon via their commercial division (and am not suggesting they are) but if they did have such a relationship then obviously working closely with Persimmon to shift houses of its books by offering these kinds of incentives and thereby bringing in cash to repay the HBOS loan would also be a third benefit.

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lived in a persimmons new build, bensham bank development just off the tyne. rules the gateshead skyline looking from the newcastle side.

what a pile of tatt, just awful cheap badly built crap.

horrid, this offer is also a joke.

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HBOS is one of the biggest lenders on commericial and develoment properties in the UK.

Seems to me that encouraging FTBs to save for a deposit then 'giving' them £5k to buy a house produces a double benefit for HBOS. It increases it regulatory capital and also gets the housing market moving.

I do not know if HBOS are a lender to Persimmon via their commercial division (and am not suggesting they are) but if they did have such a relationship then obviously working closely with Persimmon to shift houses of its books by offering these kinds of incentives and thereby bringing in cash to repay the HBOS loan would also be a third benefit.

This is a very good point. Most of these building firms and their numerous suppliers have debt with one bank or another, so it kind of makes sense that they would rather spread the debts around lots of unsuspecting individuals that they can persue for the next 12 years ratehr than a company that curn just go bankrupt. I am not sure about the specifics of Persimmon and HBOS, although it would probably not be that hard to find out.

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Truly amazing.

£5K off the average new build/FTB house (£150,000 ?)

is a discount of 3.3 %.

The average new build/FTB house will slide by

about ten times that (35% or thereabouts) over

the next 2-3 years.

Can anyone be stupid enough to be enticed by such

a ridiculous "incentive" ?

House prices are going down and nothing - but nothing - cna stop it happening.

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  • 396 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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