New Build Property Buyer’s Guide

New Build Property Buyer’s Guide

Considering a new build? There’s never been a better time. With stricter regulations in place, buying a newly constructed home is now more protected than ever. Let’s break down what you need to know.

Codes of Conduct:

Most developers adhere to a code of conduct that outlines best practices for marketing, building, and selling new homes. This ensures accountability and provides a framework for addressing any issues that may arise. Look for developers who are members of organizations like the New Homes Quality Board (NHQB).

Transparency and Consumer Protection:

  • Clarity: Developers must provide clear information about the property, including any changes made during construction.
  • Deposit Protection: Deposits are safeguarded to protect buyers’ interests.
  • Fair Sales Practices: High-pressure sales tactics are prohibited, ensuring a stress-free buying experience.
  • After-Sales Support: Developers are obligated to provide after-sales service for up to two years.

Snagging and Quality Checks:

  • Snagging Inspections: Before moving in, consider hiring a professional snagging company to identify any defects.
  • NHQB Responsibilities: Developers registered with the NHQB are required to address snags within 30 days.

Complaints and Dispute Resolution:

  • Ombudsman Services: If you encounter issues, you can utilize services like the New Homes Ombudsman to resolve disputes.
  • Independent Dispute Resolution: For developers signed up to older codes, independent dispute resolution schemes are available.

By understanding these key points, you can make an informed decision and enjoy a smooth new build experience.

Need a Mortgage? Modern Mortgage Experts can guide you through the entire process, from finding the right mortgage to navigating the intricacies of buying a new build or any other property. Our expert team will ensure you make informed decisions and secure the best financing options available.

Contact us today to schedule a consultation and get started on your homeownership journey.

Remember: A mortgage is secured against your property. It’s essential to make timely repayments to avoid repossession.

Your home may be repossessed if you do not keep up repayments on your mortgage or any loan secured against it.

Wealth Financial Services Ltd is an Appointed Representative of Marklay Mortgages Ltd. (FCA reference number 930490), which is authorised and regulated by the Financial Conduct Authority. Wealth Financial Services Ltd is entered on the Financial Services Register under reference number 997684.

Please note that the Financial Conduct Authority does not regulate some forms of Business Buy to Let mortgages or commercial mortgages arranged for limited companies.

A fee may be payable for mortgage advice. The exact amount will depend on your individual circumstances and will be clearly explained and agreed with you before you proceed.

The information and advice provided on this website is subject to UK regulatory requirements and is intended primarily for consumers based in the United Kingdom.

Wealth Financial Services Ltd is registered in England and Wales (Company Number: 14754538). Registered Office: Crown House, Suite 302, 60 North Circular Road, London, NW10 7PN.

Commission Disclosure: We are a credit broker, not a lender. We have access to a wide range of lenders and, following an assessment of your needs and circumstances, we will recommend a suitable lender and product. You are under no obligation to follow our advice or recommendations. We typically receive commission from the lender once your mortgage or loan completes. The commission is usually calculated as a percentage of the amount borrowed and may vary depending on the lender and product selected. The level of commission received does not affect the amount you pay under your credit agreement.

Complaints Procedure: We are committed to providing a high standard of customer service. If you are dissatisfied with our service and wish to make a complaint, please contact: Compliance Department, Wealth Financial Services Ltd, Crown House, Suite 302, 60 North Circular Road, London, NW10 7PN or call on 020 8050 1856. If we are unable to resolve your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service.