We understand that buying a new home is a big decision and especially if it’s your first home, it can all be a little overwhelming. Our step-by-step guide to buying a new home means you can tick each stage off your list and enjoy what should be an exciting process.
At this stage it’s all about finding the right home and mortgage for you, so come to the development you wish to purchase at and speak to one of our highly trained Sales Consultants. You may be surprised at what you can afford with schemes such as Help to Buy now available.
You may also want to speak to one of our recommended Independent Financial Advisors if you don’t already have one, and our Sales Consultants at your selected Hodson development will be happy to put you in touch.
This is the exciting bit! Now you know what you can afford it’s time to kick off the search for your new home at your chosen development. We often have many varieties of homes within the same price range at our developments, from apartments with balconies to houses with gardens, so why not start your journey by browsing our specially designed new home search tool or asking your Sales Consultant to show you all the fabulous range of homes available at the development of your choice.
You may also be able to choose custom options that you want, like kitchen and bathroom colours and finishes. The options available to you depend on how far along the build process we are but we’ll always try to be as helpful as possible.
Now you’ve found your new home it’s time to reserve it through our Sales & Marketing Suite. With the help of one of our Sales Consultants you’ll be able to relax knowing no one else can reserve it now and the home will soon be yours.
The reservation fee will vary depending on your property but it is typically between £500 and £3,000. Exchange of contracts will normally happen between 21 and 28 days from reservation and we can assist you all the way.
You’ll need to hire a Conveyancing Solicitor to act on your behalf and take care of all the legal aspects of the home-buying process.
To help save you time and hassle we have a list of recommended independent Conveyancing Solicitors who we know are very good at what they do and are reasonably priced. They will act solely for you and we receive no benefits or other from these firms. If you’d like to speak to one of them please feel free to talk to our Sales Consultants who will organise this for you and you can then instruct them if you are happy to proceed.
Once you have appointed your Solicitor, please provide their details to your dedicated Hodson Developments Sales Consultant and we will take it from here.
Our Solicitor will then make contact with your Solicitor to get the legalities of the purchase up and running.
All the legal documents will be sent to your solicitor outlining the legal requirements of the transaction. They will include the draft contract, conveyancing plans and other documents. Your solicitor will discuss these with you and walk through the documents.
There are plenty of options to consider when it comes to a mortgage. We can also assist you with this and put you in touch with specialist independent advisers who have access to the most affordable and suitable mortgage products on the market, just speak to our Sales Consultants in the Sales & Marketing Suite for more information.
Your chosen mortgage lender will want independent confirmation about the new property you are purchasing from us. To do this they will organise a property valuation and survey report of the property. The survey normally takes about an hour and checks the condition of your proposed new home, which is much more of a formality when it’s a brand new Hodson Developments property, but a legal necessity nonetheless.
Once your lender is satisfied the mortgage offer documents will be sent to you. Check your mortgage offer, discuss it with your solicitor, sign it and return it to your lender. Please then confirm with our Sales Consultants that your mortgage offer has been received and that you have accepted the offer.
Contact your legal advisor to discuss and finalise the contract which will formally transfer ownership from us to you. Your solicitor will look after this for you and advise you all the way. Some of the main points you will need to discuss with you solicitor are:
Once the legal work is complete, our solicitors will exchange contracts with each other. This is when you pay your deposit (normally 10% of the purchase price) and we both commit to the transaction taking place in an agreed timeframe. Your completion/move in date is now fixed.
Upon Exchange of Contracts you will then be introduced to our Customer First Team who will be your dedicated point of contact from this point on along with your Sales Consultants.
You can now get officially excited and start planning your move!
If you would like some extra help, our Customer First Team will be on hand to advise you of some specialist removal companies who you can get a quote from.
We understand that moving to a new house is a busy time, so we’ll arrange your New Home Demonstration at a time and date to suit you.
At the meeting we will show you how all the functions and facilities of your new home work.
Some of the points of discussion could be:
The New Home Demonstration can take as long as you need and we will answer every question that you may have (well we’ll try!). Our aim is to make sure that when we part ways you have complete peace of mind with your new home and how to operate it.
On the date of completion, you will become the legal owner of your new home. Congratulations! The full cost of the property is transferred from your mortgage lender to your solicitor then on to our solicitor.
On the day, our Customer First Team will meet you for a walk through inspection confirming that the home is in good order and you are 100% happy. The keys are now yours and you can move in. You’re now the proud owner of a brand new Hodson Developments property… It’s time to make the house your home!