Future of AH

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brokebetty

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My friend brought up an interesting point last night, wondering if the slow down in house sales is likely to make anymore available under the affordable housing scheme than would be otherwise as a means for developers to get rid of them?
 
Yes absolutely, without a doubt. I think we are seeing it already, developments which would have been the type to buy out of any affordable or social housing presence are now more than happy to get a large proportion of guaranteed sales to county councils at the same "cost price" as they charged them at the peak.
 
I think your friend is right.
My cousin got an appointment to view an affordable apartment recently and got his keys within five weeks!
Seems the developer was in a real hurry to get rid of them.
 
Think your friend is right, I got an offer of a affordable house, we're taking it, there was 18 houses being released for affordable on a first come first served basis. Its a first time buyers market out there, anyone that is a first time buyer should jump at the chance
 
carrieann said:
Its a first time buyers market out there, anyone that is a first time buyer should jump at the chance
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Why would you jump at the chance of purchasing a property with a clawback clause in the contract for a 'discounted' price which probably really reflects the current market value ?? Makes no sense to me. I reckon councils will have to seriously review the AH scheme. People should save and wait a few months until they can buy a property outright and not be stuck with a property they paid 280K under the AH scheme only to discover in 1yr or mores time that the property is only worth 250K and they can't afford to pay back the discount. !! Be wary !
 
Teknon, it really depends on weather your buying a home that you plan to live in for a good while, or a person that just wants to get on the ladder,in my case I q'd over night for the house I wanted as I was buying a home that I could live in for more then 10 years. So that way the affordable housing is a cant scheme in that repect
 
Teknon said:
... stuck with a property they paid 280K under the AH scheme only to discover in 1yr or mores time that the property is only worth 250K and they can't afford to pay back the discount. !! Be wary !
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If the value of the property goes below the affordable price you paid for it then there is no claw back to pay the council.
 
brokebetty said:
My friend brought up an interesting point last night, wondering if the slow down in house sales is likely to make anymore available under the affordable housing scheme than would be otherwise as a means for developers to get rid of them?
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From what I'm hearing from DCC it's happening already....I was offered a 2 bed in Belmayne and was told if I go ahead I'll be buying it directly from the builder...dont know whether that means DCC are out of the loop or whether I'm getting an apt for sale on the open market for the affordable price...somehow I doubt it!!!
I was up at Belmayne last night and there are loads of vacant apartments (maybe in snagging/moving in stages I dunno ) but there's also another entire block of them behind hoarding that are still in the process of being completed.....there must be about 60 apts in this block waiting to be finished.
 
Maybe it means you don't have to deal with an Estate agent....instead it's directly with the builder. I wonder if this is a way of the builder saving some more money by not having to pay the Estate Agent...???
Usually dealings in the past were via the estate agent.
 
FB1975, for some affordable housing offers you deal directly with developer, don't get your hopes up about getting an AH price with open market terms and conditions. Its just an admin thing, although you should make an open market offer to developer when you're viewing, you never know your luck!
 
monos said:
FB1975, for some affordable housing offers you deal directly with developer, don't get your hopes up about getting an AH price with open market terms and conditions. Its just an admin thing, although you should make an open market offer to developer when you're viewing, you never know your luck!
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Hi Monos,
yeah I had a feeling it was probably something like that....I'm just wondering what are the advantages/disadvantages in dealing directly with the developer....and where do DCC come into it. Do they wash their hands of the whole deal once I put down my booking deposit or what? I wish DCC would produce some sort of handbook on this, they're doing it long enough now to have come across all the usual FAQs:confused:
 
in order for it be affordable housing the councils would need to be buying them from the developers. I dont think the government will sanction this. i think what will happen as someone else said people will just buy without the AF scheme as the prices are as cheap now.
 
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