Question about exchanged contracts with pandemic

[moonk98]

Hiya,

Looking for some advice.

We reserved a new build back in Nov 19, expected completion was Feb 20 but pushed back. The house is fully build, just snagging to do.

We've paid all solicitor fees, had a mortgage offer and now exchanged contracts.

Then the pandemic started in March so handover and last bits of work required for the house were put on hold.

My question is, as we've already exchanged contracts and we're literally just waiting for completion date, we're not likely to lose out on the house now are we?

Thanks for your time!

Not unless you decide to pull out, no.

How long is your mortgage offer valid for? It might be worth checking with your provider that they will extend it due to the pandemic. Your contact probably allows the builder to give you two weeks notice to complete, and believe me, once they are able to work, they will be wanted to get sales through ASAP.

@PuzzledObserver Thanks so much for your reply. Our offer runs out the beginning of next month so I will be calling them next week. Their website (and our solicitor said) that they can extend the offer for 3 months. Yes we have a 2 week notice to complete. Not sure about the correct terms but we're on a 'completion on notice' sort of thing!