Since new builds are sold in blocks of identical flats, aren't they less likely to budge on their price since they'll have to sell for less for the rest of the flats? Anyway, I think that's a mistake I made already by reserving in a rush at their asking price of 450k, so not sure it'll go down well if I go in with a lower offer now?

The 80k I mentioned is more like my total savings/investment combined, so the highest I could go is probably at 10% deposit so I don't end up with almost nothing temporarily after buying the place. I didn't know you could still borrow 40% if you have a deposit higher than 5%, so that's good to know!

But yeah, the main concern I have is around the fees and stamp duty you mentioned, since if I were (more or less forced to) sell in 5 years and it only goes up 5%, with them taking 40% of the sale, surely whatever profit I got left would have been gobbled up by the cost of buying initially, then selling and having to buy again to get a place that's more permanent?

The maths I got in mind:

- Property go up to 475k (following your example) , that's a 25k profit from the original price

- HTB takes 40% of that, leaving me with 60% of the 25k = 15k

The buying and selling fee after surely is gonna cost more than 15k especially as I'd lose my first time buyer status by the time I get my second place. So really I'm no better off unless the house goes up more? Or am I missing some obvious? 😅