Conveyancing

New Build Conveyancing

At Davisons, our specialised team of new build solicitors comprehensively grasp the unique legal procedures and stringent timelines inherent in new build purchases. Our proactive approach ensures swift action to safeguard your interests, streamlining the property acquisition process for a hassle-free experience.

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What should you do before conveyancing starts?

The first step is to arrange your mortgage. Most mortgage offers are only valid for six months which means that if your property is not ready within that time frame, you may need to reapply. Some lenders offer new build mortgages which have longer deadlines.

Before you pay a reservation fee to reserve a new build property, check what the developer will do to protect you if building work is delayed due to a shortage of building materials or extreme weather conditions. For example, is there a warranty in place that protects you from losing the deposit you pay on exchange of contracts if there are delays beyond anybody’s control?

Ensure you are well informed on your new build purchase. Review property plans, check previous developments by the same developer, and explore offered incentives like fixture choices or SDLT assistance.

Finally, check what incentives the developer is offering. Sometimes developers allow buyers to choose fixtures and fittings or offer to pay stamp duty land tax (SDLT).

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Contact our expert team today and receive your free initial assessment

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How does the new build conveyancing process work?

Conveyancing is the process of transferring legal ownership of a property from one person or business to another. Like every type of conveyancing, new build starts as soon as you make an offer on a property.

Find a specialist new build conveyancing solicitor

To speed up the new build conveyancing process, it is advisable to find a solicitor as soon as you start looking at properties. That way, you can complete initial paperwork such as proof of address and proof of identity so your solicitor can hit the ground running when you make an offer. This is particularly important with new builds because time is of the essence.

Pay a reservation fee

To reserve a new build property, you need to pay a reservation fee which can be anything from £500 to several thousands of pounds. This fee is deducted from the final price you pay for the property, but it is non-refundable if you do not exchange contracts on the property within an agreed timeframe. Before making a reservation, it is important that you have agreed a mortgage in principle with your mortgage lender.

Conveyancing checks are carried out

After submitting your reservation fee, typically, you're given only a four-week window to finalise contract exchanges; otherwise, your reservation fee is forfeited. Opting for a dedicated new build solicitor for conveyancing is essential, as they aware of the importance of swift action. Your solicitor will carry out the following processes:

Ensure all relevant planning permission has been obtained and that the property meets planning permission regulations.
Check that roads are adopted and drains and all utilities are in place.
Carry out local authority searches such as water searches, environmental searches and other searches applicable to the local area.
Check title deeds for any restrictive covenants that could stop you from making certain alterations to the property in the future.
Make sure there's a 'snagging provision' included in your contract with the developer. This is crucial, especially if you can't inspect your property until it's completed. With a snagging provision, the builder is obligated to promptly fix any issues.
Discuss with you the new build guarantee currently in effect and ensure it comprehensively safeguards your interests.

Instruct a snagging surveyor

Most newly built properties have a ten-year NHBC (National House Building Council) warranty which provides you with protection against any structural defects that occur. As NHBC resolution can be prolonged, it's essential to hire an independent surveyor for a snagging survey before completing your property purchase, if possible. Be clear on what the warranty covers. Make sure you know exactly what is covered in the warranty.

Exchange of contracts

You pay a 5%-30% deposit on the property and exchange contracts with the developer. At this point, you are legally committed to purchasing the property. Your mortgage lender will have instructed their surveyor to conduct a valuation of the property as soon as construction is complete. If the property's value falls between the time you paid the deposit and sale completion, your mortgage provider may not lend you the money you need to pay the balance. You will then find yourself in breach of contract with the developer. To protect yourself from this, it is advisable to find out whether the sale price written in the developer’s contract is locked or not. If it is locked, ask the developer what will happen if prices fall or rise between now and completion. Warranties such as NHBC can protect your deposit, but this may only be up to 10%.

Completion

Completion is when you pay the final balance for your new build property, and you receive the keys and all relevant documentation. If your completion day is delayed by more than six months the Consumer Code for Home Builders gives you the right to withdraw from the transaction and receive a full refund. Before completion, your solicitor will carry out final property searches and complete all the documentation that transfers legal ownership of the property to you. They will also arrange for mortgage funds to be ready for completion day.

Why choose Davisons new build solicitors?

Our specialist new build conveyancing solicitors know that your property purchase relies on a fast and thorough conveyancing process. We are dedicated to protecting your interests and minimising stress by resolving issues promptly. We will communicate with you at every step, so you are always reassured that your move is on track.

Many new builds can be purchased with government Help to Buy schemes at a discounted market value. Our solicitors understand these schemes and are experienced in carrying out the additional processes and checks required.

Have any questions or need any help?

Our team of specialist lawyers are experts in their field. Be confident in their advice and decisions to help get the right outcome for you. Contact us today to see how we can help

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New Build Conveyancing FAQs

Do you need a conveyancer for a new build property

Yes, once your offer on a new construction home is accepted, it’s crucial to promptly engage a conveyancer and secure your mortgage, as the window for exchanging contracts is typically narrow. While extensions are possible, adhering to agreed-upon timelines may come with financial benefits.

How long does conveyancing take on a new build in the UK?

The conveyancing process typically initiates following the acceptance of an offer and you have up to 4 weeks to exchange contracts. It’s essential to promptly locate and engage a conveyancing solicitor after your offer has been approved.