New build conveyancing can be more complex than buying a pre-owned property and comes with its own unique challenges – here are some top tips to help make the transaction smoother:

  1. Do your research: Before reserving a property make sure you research the planned development, the developer, their past estates and reviews. This will all help towards deciding as to which property may be best suited for you and your needs.
  2. Find out about any deadlines: Developers can usually request that exchange takes place within 28 days of your reservation being made, if the property is not yet built or you are also selling your home this can make the deadline difficult to meet and it is worth considering before paying any reservation fees.
  3. Find out the predicted completion date: Usually with new build properties, you will find that a fixed completion date cannot be offered if the property is not yet finished and signed off by Building Control therefore a long-stop date is usually implemented. This means that exchange can take place with no fixed completion date, notice will be served to give you 10 days to complete once the property has been deemed habitable. A long-stop date is usually put in place should the build exceed a reasonable timeframe to completion, after this time the contract can be rescinded without the loss of your deposit. Where there is a chain involved it may be difficult to get a long-stop date agreed as you may need to consider such matters like expiry of mortgage offers and searches etc.
  4. Check the consents: Planning permission, building regulations and new homes warranty should all be available and in place when you are buying a new build property, it is important to establish who the warranty is expected to be placed with as some lenders have a list of approved warranties only and the chosen warranty provider may dictate which lender you can obtain your mortgage with.
  5. Check your mortgage offer: Most mortgage offers only last for 6 months, therefore establishing a timeframe on how long until the property is due to complete is imperative and you may also wish to establish with your lender what their rules are in relation to extending the mortgage offer should the completion surpass the 6 months lifetime of the offer.
  6. Check for any Estate or Service charges: Most new build estates will have maintenance and service charges which will be payable once the development is finished, the costs will cover maintenance of the communal areas, such as; parks, infrastructure, roads, communal green spaces, pathways etc. It is worth noting that it is unlikely you will receive a budget of what the costs will look like at the stage of purchasing the property, but there will be details of what the management company will do in return for the service/ estate charge however you will receive a demand in the future for contribution towards the noted maintenance. When you come to sell you will also be responsible for obtaining a management pack for your buyer for a fee.
  7. Restrictive Covenants: It is common that you will be asked to enter into a deed of covenant with the Transferor/ Management Company (if applicable) to confirm you will comply with the legal obligations noted within the title. It is important that you review these and ensure you comply with these covenants during your ownership. If the property is subject to an estate/ service charge you will likely find this included within the deed of covenant to confirm you will pay the same during your ownership.
  8. Snagging Survey: It is strongly recommended that you hire a surveyor to carry out a physical inspection of the property before you move into the property, this allows you the opportunity to pick up and get rectified any defects noted.

The key takeaway is simple: do your homework, rely on professional advice, and establish the developer’s timeframes. With the right preparation, you’ll not only secure a legally sound purchase but also enjoy peace of mind knowing your new home is built on solid foundations — both literally and legally.

How we can help

If you would like help and advice when buying a new build property, please do get in touch on freephone 0800 011 6666 or via email at legal@timms-law.com. Alternatively, a guide giving further details can be found on our website here or to obtain a conveyancing quote, please click here.