Next steps to buying your home
Step 1. The mortgage and legals
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 tried and tested independent financial advisers and solicitors if you need a little help.
Find out more about mortgages, what your solicitor does and the costs involved with buying a new home.
Step 2. Exchange of contracts
About four to six 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.
You’ll need to pay the balance of the deposit at this stage 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.
Step 3. Build completion
It’s great to see your home taking shape and many of our customers love to see their home during construction. We never forget that it’s your home and providing it’s safe to do so, your sales adviser will be able to arrange this for you.
Usually around five to six 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).
It’s around this time we’ll invite you to a home demonstration to familiarise yourself with your new place. We’ll show you everything from how to work the heating system and appliances to the location of your fuse box.
Step 4. Legal completion - the final step
You’re nearly there. Legal completion is the final step. This is when your lender releases the funds to pay for your home. This is all done through your solicitor.
If your new home is already built when you make your reservation, completion will be as soon as possible after the exchange of contracts. In either case your solicitor will arrange for funds to be transferred to us. We’ll then provide them with the title deeds of your home and register you as the homeowner with the relevant utility companies. We’ll also take meter readings on the day of legal completion.
If you need access to your home the day before completion, for carpet fitters, delivery of white goods etc., it’s no problem. You’ll just need to sign an indemnity form and make sure your insurance is in place.
Don’t forget, we’re always on hand to help you every step of the way. And we’ll do whatever we can to make sure you can move in and start enjoying life in your new Keepmoat home and as soon as possible.