14 YOUR BUYING GUIDE STEP 01 Reservation Once you’ve chosen the home for you, your sales executive will guide you through the reservation agreement. You’ll need to pay a reservation fee ‐ this could be as little as £250* and makes up part of your deposit. It also means, subject to contracts and meeting the timescales in the agreement, the home is yours at the price agreed. Now’s a good time, if you haven’t already, to ask us about how the Governmentbacked Help to Buy scheme ** can make buying your dream home more affordable. And if you’ve got a home to sell, our Easymove scheme could make moving easy as we’ll arrange an estate agent and even pay their fees. STEP 02 The Mortgage and Legal Advisor If you need a mortgage and haven’t already arranged one, you’ll need to do so quickly. We can give you the details of some reputable independent financial advisers and solicitors if you need a little help. All mortgage lenders will want to value your new home for themselves before they lend you the money – even on our homes which offer fantastic value for money. When moving house you need a solicitor to carry out the legal work of buying your home – this is called conveyancing. Your solicitor will handle all contracts, provide legal advice and carry out local council searches, work with the Land Registry and transfer the funds to pay for your property. STEP 03 Exchange of Contracts Four weeks after reservation (depending on the build stage of your new home) and if all the mortgage and legal documents are in place, we’ll exchange contracts†. At this point you’ll need to pay the balance of the deposit and the whole transaction becomes legally binding. Please remember that if your deposit is in an account that you need to give notice of withdrawal, make sure you let the bank know well in advance to avoid having to pay any penalties. WELCOME LOCATION TRAVEL LINKS SITE PLAN MAKE IT YOUR OWN SPECIFICATION YOUR BUYING GUIDE 30,000 HOMES & COUNTING *If you have a Help to Buy ISA please let us know as soon as possible so we can discuss this with you. **Help to buy is available on selected plots and subject to terms and conditions. † If the exchange does not take place on the agreed date we are within our rights to place the property back on the open market.
OFF BEACON LANE, CRAMLINGTON, NE23 8AZ 15 STEP 04 Build Completion STEP 05 Legal Completion STEP 06 Move in Usually around four weeks before your home is finished we’ll get in touch to let you know of your legal completion date. This is normally within 7 – 14 days of construction ending. Your home will also undergo thorough quality inspections, both internally and externally, to ensure that it meets our quality standards. It will also be subject to several inspections by the National House‐Building Council (NHBC). Around this time we’ll invite you to a home demonstration to familiarise yourself with your new home. During the demonstration we’ll show you everything from how to work your heating system and appliances to the location of your fuse box. You’re nearly there. Legal completion is when your lender releases the funds to pay for your home. This is all done through your solicitor. Through your advisor, you will be notified of the specific completion date, which will take place within a 2 week period after the physical completion of the property. We’ll then provide your solicitor with the title deeds of your home and register you as the home owner with the relevant utility companies. Your dream Keepmoat home and a great new life awaits… once you’ve unpacked all the boxes. Don’t forget, we’re always on hand to help you every step of the way even after you’ve moved in. Our regional customer care teams featuring highly trained staff can address any questions or issues that you may have with your new home.
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