Sunday, Jul 23, 2006

Barratts, the first time buyers friend....

Firstrung: Barratts look into parents pockets to aid first time buyers

Once again we find a builder offering the much criticised 'gifted deposits' in a different guise. Fact - most new builds are significantly over-priced and if there is to be a price correction historically the new build gets hit first and hardest. This should not escape the first time buyer. You could be left holding a property worth less than you paid for it and having received parental assistance the plight will be much worse if you witness your 'together' deposit simply evaporate in terms of value.

Posted by converted lurker @ 10:36 AM (520 views)
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1. sirgoogle said...

Interesting development. Perhaps as the Vested Interests in the media start to get more and more desperate to keep the Titanic floating, they will start advocating euthanasia for the Grandparents to release capital for the FTBs.

If I was an FTB I would look very carefully at the tax situation on "gifts" before entering into these arrangements with Builders and Parents.

Sunday, July 23, 2006 01:24PM Report Comment

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