Buy one of our homes by taking advantage of the 3 year price guarantee offer and you can protect yourself against a fall in the housing market of up to 15% for the first 3 years of ownership.*
Offer available on selected plots only, subject to availability. Offer available on completions on or before 19/12/08. Remaining 15% deferred loan is payable on the sale or transfer of the property or any time up to 10 years from completion.
1. Offer cannot be used in conjunction with any other David Wilson Homes offer other than £1,000 voucher and the David Wilson Homes Shared Equity deal offer to delay payment of 15% of the value of your new home for up to 10 years.
2. Offer only available on selected plots up to a maximum purchase value of £300,000.
3. David Wilson Homes will reimburse a drop in value up to a maximum of 15% of the original net purchase price at the date of original legal completion if you complete on the future sale within 3 years from the date of legal completion.
4. Valuations of any future sale price for the purposes of this offer will be based on Regional House Price Indexes (see www.landregistry.gov.uk for details of current house price index) and may be subject to a specific valuation by an independent valuer appointed by David Wilson Homes. All decisions by David Wilson Homes' independent valuer on the future value of your property are final.
5. In the event that a property has suffered anything more than the reasonable amount of wear and tear associated with living in a new build house for up to three years, or the property has been deliberately devalued in any way, David Wilson Homes reserves the right to withhold that amount of any shortfall attributed to this dilapidation as may be determined by an independent valuer.
6. This offer is not available for buy to let properties.
7. No shortfall payment will be made for sales completing within the first 6 months of ownership from the date of legal completion of your purchase.
8. If you buy a home with your own deposit and mortgage (not on a Shared Equity basis), any shortfall in the value of the property at the time of sale will be credited to the person or persons named on the deeds to the property, within 28 days of completion.
9. If you buy a home on a Shared Equity deal, that portion of the outstanding loan at the time of completion up to 15% will be written off by Barratt.
10. Where there is any conflict between the terms and conditions of a shared equity offer and this offer (if taken in conjunction with one another), the terms and conditions of this offer will prevail.
11. You must notify David Wilson Homes in writing of any intention to sell to take advantage of this offer in any future sale. Please provide copies of all valuations to David Wilson Homes finance director at the registered office of BDW Trading Limited immediately upon receipt to claim any shortfall if you are advised by your agent that the property is likely to achieve less than the original purchase price.
12. This offer lapses following the first sale or transfer of the property following legal completion of your David Wilson Homes purchase and is non-transferable to future purchasers of the property.
13. David Wilson Homes are only liable for any shortfall where the shortfall arises from a genuine transaction at an arms length and not to transfers between friends or family members. Vendors may be asked to sign a confirmation at the time of sale stating that the sale is a bona fide transaction at an arms length and that there has been no transaction at an undervalue.
14. A seller should obtain the best price available for their property on the open market. Failure to do so may result in a refusal to pay all or part of the shortfall claimed by the seller at the time of sale. Legal completion of your purchase must be by 19 December 2008.
15. This offer becomes null and void in the event of personal insolvency or repossession of the property by the Mortgage Holder.
16. David Wilson Homes reserves the right to terminate this offer for anyone found to be in breach of these terms and conditions and to refuse to pay or take proceedings to reclaim any amount already paid out by way of a shortfall in the event of dishonesty on the part of the purchaser.
17. Failure to notify the person set out at clause 11 in writing with the formal provision [in the form of written confirmation from your estate agent] of all valuations within 7 days of placing your property on the market may result in this offer being withdrawn. In any event, if you do not agree the value of any drop in sale price with David Wilson Homes before legal completion, David Wilson Homes will not be liable for any portion of that drop which has not been agreed. This applies to the whole amount in the event that you fail to notify David Wilson Homes of your intention to sell and provide valuations before legal completion.
18. In the event of a dispute over the valuation, the value of any drop will be calculated on the basis of the valuation of the independent RICS valuer appointed by David Wilson Homes.
19. David Wilson Homes will only provide payment for any shortfall upon compliance with these terms and conditions and receipt of a formal letter from your solicitor confirming legal completion has taken place.
Any promoted David Wilson Homes offer is subject to contract and status. Offers are on selected plots only and are subject to availability. The offers advertised cannot be used in conjunction with any other offer on the same plot unless expressly stated otherwise. Prices and details are correct at time of going to press. All images are typical of David Wilson Homes and are for illustrative purposes only. Please contact the development in which you are interested for further details.
David Wilson Homes reserve the right to withdraw or alter any of these offers at any time prior to the payment of a reservation fee. The current specific offers being advertised in relation to selected David Wilson Homes developments are also subject to these terms and conditions (please note that these offers may vary from time to time and you should refer to current advertisements to discover which offers are available on certain plots and developments).
These terms and conditions do not affect your statutory rights.
David Wilson Homes is trading names of BDW Trading Limited (Registered Number 03018173) which is a subsidiary of Barratt Developments Plc (Registered Number: 00604574) both with registered offices at Barratt House, Cartwright Way, Forest Business Park, Bardon Hill, Coalville, Leicester, LE67 1UF.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE