The buying process
1. First steps
You’ll usually need to speak to a Mortgage Advisor or your bank or building society to find out how much you can borrow, how much deposit you have and about all the costs involved in buying a new home. You’ll then get a mortgage agreed in principle (there are no ties here, you can always switch to a different lender later if you want to). Now you’ll know what properties are available in your price range and have a better idea where to look.
2. Looking for your new home
Here’s where it starts to get exciting! Click on our find a home page to see what's available. Then go and have a good look around the sales area and show homes and picture yourself living there! Our on-site sales advisors will be there to assist you and answer any questions. Many of our sites are open seven days a week for your convenience.
If we don’t have the right home for you at the moment, get in touch to let us know you’re looking and we’ll keep you updated with anything suitable that comes up.
3. Found your dream home? Reserve it!
Once you’ve found the home that’s right for you, be quick to reserve it so no one else can. We’ll ask you for a few details and then a deposit (usually £500) which we'll need before we take your plot off the market, all under the terms of the Consumer Code for House Builders, which we’ll explain to you.
4. Legal work
At this point you’ll need to instruct a solicitor to handle the purchase of the property and make it legally yours when the sale is complete. You would usually ask several legal firms for a quote and we can provide you with details of some firms to approach if you want us to. As with many things in life, the cheapest quote might not always be the best, but we’re happy to give you advice if you’d like us to. If you're purchasing using Help to Buy your solicitor will guide you through the additional steps needed.
5. Secure your mortgage
Go back to your mortgage advisor or bank/building society and give them the details of your new home. They’ll ask you for funds to cover your application and to pay for a mortgage valuation. This valuation ensures that your home is suitable security for the mortgage and is worth what you’re paying for it. The lender will then start work on preparing your mortgage offer.
6. Exchange contracts
When you've received your mortgage offer and your solicitor has finished the legal work, he or she will ask you for your deposit in preparation for you to exchange contracts. When you exchange contracts, you're legally bound to complete the sale but the property isn’t quite yours at this point. If your home is already build complete, we’ll give a fixed date on which the sale will complete and you can move in. If your home is still being built, we’ll usually exchange with completion ‘on notice’. This notice period is usually two weeks, but it can vary according to the build stage.
7. Completion. It's time for your keys
You’ve made it! You’re the legal owner of your new home and completion has taken place. Your mortgage lender transfers all the money (the full cost of your new home) to us via your solicitor.
We’ll take you round your new home, show you where things are and how everything works. Then it’s all yours, you have the keys and you can move in!