Purchasing a new build property

Verisona conveyancing is part of bpl solicitors. We have a number of offices located in the North of England and we can support you when you are purchasing a new build property.

Working above your expectations.

At Verisona Conveyancing, all of our team are experienced and dedicated to make sure that you have the best legal advice possible. When purchasing a new build property, it is important that additional checks are carried out as the process is slightly more complex. Our knowledgeable team will make sure that the developer has been granted property planning permissions, that the new development has correct access to all of the services (roads and sewers), register the property on the land registry and will organise a long stop completion date (extended period of time from exchange to completion meaning that the contract is not open ended). Our skilled team will be able to help you throughout your transaction without added stress.

Help to Buy scheme

It is important to inform your conveyancer and chain of any government backed schemes on instruction so there are aware of the additional work needing to be carried out. Additionally, if you are using the ‘Help to Buy’ scheme, it is important to let your legal representative know as it is drawing to a close at the end of 2023. This means that you will have a set deadline and if it is not met you will be missing out on the government scheme.

Additional surveys that might be required

When purchasing a newly built home you are not required to have additional surveys other than your mortgage valuation (If you are not a cash buyer) as you will receive a structural guarantee. At Verisona Conveyancing, we will always happy discuss this as you might have concerns about the property that extra examinations might ease.

New build properties and leases

It is important to make sure you know the tenure of the property you are purchasing is, as this can determine what you can do with it. In addition to this, if your property is leasehold you may be subject to paying fees such as ground rent and services charges. At Verisona Conveyancing we will always be honest and truthful about how a lease will affect your transaction and we will be more than happy to advice if the ground rent, service charges and if a lease is fair.

If you would like to further details visit our purchasing a leasehold property webpage here.

Restrictive covenants or additional payments on new build properties

When purchasing a new build property, you might find that you have to contribute to an estate charge. These charges will pay for road and estate maintenance. You will have to factor these charges into your yearly costs. Furthermore, it is important to know of any restrictive covenants as you might find you are unable to make alterations to the property for a fixed period of time (Removing garage doors for windows/doors, changing the style of your windows or front door or adding an extension).