When you purchase a brand spanking new house directly from a developer, we refer to it as a new build. New builds allow you to purchase a transfer of part or lease granted by the developer. Developers often offer incentives to entice people to buy a new build.
Checks to make
Our experience in dealing with new build purchases means we are in a great position to help you get the best deal. Enlisting the help of the experts means you will not miss any important information that could come back to haunt you further down the line. We therefore carefully check the lease to ensure there are no hidden charges or onerous conditions attached to the land or the property. This means we check:
- Amenity areas
- Whether contributions are required to maintain common areas
- Adoption of roads
- Water pipes
- Disused mine shafts
- Environmental and contamination issues
- Ground rent reviews
- Covenant checks
We carry out these checks to ensure your move is as swift and stress-free as possible, giving you the peace of mind that your new home purchase will be the realisation of a dream come true, and not the beginning of a nightmare.
Contracts are usually exchanged within 28 days, so it is vital that your mortgage offer is valid for your completion date. You should liaise with your mortgage lender and/or Financial Advisor in respect of this.
