New Build News 01 10 2007 - News Archive

New Build News

There is a new scheme on the market from Barratt’s one of the largest house builders in the UK which will allow any borrower buying a new build property to defer the cash deposit. This new scheme is aimed at people wanting to delay paying out large suns of cash till their property is built. The scheme launched by Zurich will allow you to purchase a property deposit guarantee instead for a charge. This is excellent news for anyone who does not want to tie up their cash or cannot afford a large deposit straightaway.
Normally you would be expected to pay a deposit on new build of around 5%of the value of the property, even though you may have a long wait ahead for you home to be completed. For those buying abroad these figures are even higher. A typical deposit in Spain may be as high as 30% and a one – two year build time is not unlikely.
Barratt are the only company offering this guarantee scheme at the moment, it is expected other developers will follow.
 
:: Added on: 01:10:2007 ::

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