This sounds like a sensible strategy to sell homes in the current economic climate - NOT!

[SlightlyMadScotland]

Local home builder is currently has teh following offer as an incentive to buy...

Buy 70% now...pay for 30% later.

Basically - you get a mortgage+deposit that adds up to 70% of the current value.

The remaining 30% is interest free for the next 10 years. You have to pay it back either when you sell (by which time you are likely to be in negative equity the way things are going) OR after 10 years (when you may or may not be in negative equity) whichever is sooner

Sounds like a spin on teh sub-prime l=ending to me

this is the offer

It is 75% not 70%.

And I had mis-interpretted abit...in that you pay back 25% of the value as it is at the time of sale or after 10yrs - not 25% of the purchase value.

Could still be very dodgy if prices fall by more than 25%.

Also a very risky strategy to allow people onto the market that can't really afford to (at 100%) IMO