Mortgage Question

Sweats. said:
I’m not swinging. It’s true. People tend not to read the small in their mortgage offer when buying a brand new house.

There is a caveat which stipulates that should you sell within five years you will lose money.

from a valuation perspective as a mortgage valuer you have what is termed as new build premium or first owner premium. This essentially means people will pay 15-20% more for a new house than a second hand one of equivalent size. You are reliant of the market rising over 5 years and should be able to sell or remortgage for the same or in some areas slightly more than what was paid.

Mira come down from the government to encourage developers to build and male huge profits. So when doing a mortgage valuation on a brand new house we have to use comparables from the same site. So they can basically charge daft folk who buy them way over the odds without risk of down valuation. We can also take comparables from other brand new sites. Or make adjustments from second hand ones and add 20% to justify the mortgage.
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TL : DR

But is it fair to say in summary, that Luv is a ****?
 
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Sweats. said:
Can’t you just fook off and bore people on a more suitable thread.

this thread was designed for my knowledge and work experience. Though have never done mortgages.
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You were designed to crap out your arse.
 
Libby said:
Luv's waited a long time for that victory for WALES.
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They do the same thing this side of the border too. He might be right there may be lenders which do a discounted rate. Or something on fees though they aren’t always the best rates available.
 
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Sweats. said:
They do the same thing this side of the border too. He might be right there may be lenders which do a discounted rate. Or something on fees though they aren’t always the best rates available.
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Just emailed. The lender pays the company commission, my next question was does that get added onto my mortgage and if it does, will that show in the mortgage illustration and the reply was no it doesn't get added and we don't pay for it.

That sounds ok to you? You seem to know what you're doing.
 
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