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New Build Flat with Help to Buy

3 replies

Lily7050 · 22/02/2015 00:00

I have reserved off plan flat to purchase it with Help to Buy scheme and will appreciate anyone sharing their experience.

  1. Help to Buy guide says that a buyer can reserve a plot off plan but cannot exchange contracts before 3 months to legal completion.
    The guide is dated August 2014. Is it still valid or this requirement has changed?
    Current estimate of completion is Sep/Oct 2015. However, both the builder and the mortgage advisor expect to get mortgage decision and exchange in mid April which is six months before the estimated completion.

  2. Having done some internet research I decided to get a snagging done buy professional before completion. However, I am not sure whether it is worth (and possible?) doing survey before exchange of contract.

  3. Both windows of the flat face north. Is it good or bad?

  4. Am I correct to expect that if flat faces the street, and the builder claims that the development "refreshes the street", the builder will try to finish it to a better quality?

Any feedback and information is much appreciated.

OP posts:
shabbycaddy · 22/02/2015 09:10

In relation to snagging before exchange it's not normally liked, now you could be sneaky and say you want to come in and measure for furniture whilst at the same time bring the person snagging with you and say they are a "friend". To be honest though you will most likely have 2 years worth of cover from the builder to cover any bits you spot if it's one of the larger developers, you then have the likes of nhbc or similar for 10 years after to cover any major problems on the building. In all fairness a lot of people complain about new build, but seem to forget that houses are essentially hand made and will have slight issues, sadly they don't come out of a factory production line which people nowadays expect in finish.

Lily7050 · 22/02/2015 12:35

shabbycaddy, many thanks for your reply.

OP posts:
Lily7050 · 22/02/2015 13:00

the development I reserved from is not huge, just 47 flats, but the builder is one of the large ones and has 10 year NHBC.

OP posts:
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