- Step one - establish your affordability
- Step two - reserve your new home and pay your reservation fee
- Step three - instruct a legal representative
- Step four - issue of draft contract, conveyance plan and any other required information to your legal representative
- Step five - the mortgage application
- Step six - conduct a survey
- Step seven - mortgage offer
- Step eight - sign your contract
- Step nine - exchange of contracts
- Step ten - completion
How to buy a new-build home
Our step-by-step guide to buying a new-build home provides a handy overview to what you can expect:
Step one - establish your affordability
Speak with an independent financial advisor to establish what you can afford to spend on your new home.
Step two - reserve your new home and pay your reservation fee
The reservation process is carried out with the sale executive at the development you’re choosing to buy on. Your reservation fee will be held on file and deducted from the final purchase price at point of completion.
Should you cancel your reservation after 14 days then Tilia Homes will reimburse your fee minus any reasonable costs and expenses that have been incurred during the process. You will get a full refund if you cancel within 14 days.
Step three - instruct a legal representative
The instruction of your legal representative should take place immediately after you have reserved your Tilia home, the details of which are to be submitted to the sales advisor. This legal representative will undertake all the legal formalities and look after your interests throughout the buying process.
Step four - issue of draft contract, conveyance plan and any other required information to your legal representative
This is all the information specific to your plot.
Step five - the mortgage application
By now you will have been in contact with a financial advisor to discuss your affordability and suitable mortgage products, but you will now be required to formalise your application. This application will be specific to the property you are now purchasing. Please keep the Tilia Homes sales executive informed of the progression of this process.
Step six - conduct a survey
When applying for your mortgage you will have paid your valuation fee. When the application has been processed an appointment will be made for the surveyor to come out and value the Tilia home you are purchasing.
Step seven - mortgage offer
Once the survey has been carried out, your mortgage offer will be issued. You will need to check this offer, sign it and return to your lender. Please ensure that both your legal representative and the onsite sales executive are aware of this.
Step eight - sign your contract
You will discuss the terms of the contract with your legal representative and determine how your deposit monies will be paid upon exchange of contracts, as well as upon completion. You will sign the contract documents in preparation for exchange.
Step nine - exchange of contracts
Your legal representative will exchange contracts and transfer the deposit to our solicitors. At this point both parties are legally bound by the terms of the contract and your deposit will be protected from exchange to completion by the NHBC Buildmark Cover. It protects you if the builder becomes insolvent, you will receive two years warranty cover from Tilia Homes and insurance cover from NHBC until the end of the policy.
Step ten - completion
Upon completion the remaining funds will be transferred to the developer and your keys to your new home can be released. You will now legally own your new Tilia Homes property.
All you have to do then is move in!