Re: Stage Payments

#87743
angie
Blocked

Charlie, I think stage payments should be a thing of the past, we don’t pay them on UK property as Developers fund the build themselves, not the purchaser.

Stage payments are just another disguised scam IMO, with Promoters setting themselves up as builder/developer.

The sooner people walk away from stage payment Development the better, sooner or later it would change to a 10% down with balance on completion giving far better protection to purchasers instead of Developers.

Once you’ve paid maybe 60-70% stage payments and the specification, views and build quality don’t match up, it’s much harder to withdraw from completion, or, get all your money back quickly.