Everything You Need To Know
Buying Your New Home
Your Guide For
Buying Your New Home
What happens when we buy our new home?
At Brindle Homes we understand that moving home is a big step. With this in mind, we try and make everything as simple as possible. Below is a list containing the main steps you will take when you buy your new Home. If there are any terms you are unfamiliar with please see the Jargon Busters.
Buying Your Home
- You have now found your new home with Brindle Homes. At this stage we explain exactly what is included within your new home and show you examples (if it is not complete)of how the internal and external parts of your house will be finished.
- We will give you copies of the floor plans of your home so you can see the sizes of all of your rooms and start planning your furniture layout.
- We will discuss you bathroom and kitchen fittings and also the heating systems provided within your property.
- We will give you the best indication possible as to when we believe the other properties around you will be completed. Although we can never give a definite time, we will keep you informed of any updates.
- The details have now been finalised and you are aware of the costs. The next step is to reserve your house or plot by signing a preliminary sales contract and paying a small reservation fee.
- The next step is the “exchange process” where both of our solicitors agree all of the legal matters including the final full purchase price. At exchange, you are required to pay a deposit of up to 10% of the final price. This guarantees the sale of the house or plot with an estimated completion date for you to move in. We usually set a six week time period between reservation and exchange.
- Now it is time to customise your home. We will show you the available optional extras and you can then choose the extras which work best for you in your new home.
- It is important to note that if there are any extras you require you either need to pay for these up front or have exchanged contracts prior to these items being installed.
- Approximately two weeks prior to your moving in date, we will confirm the completion date. On completion day, all legal matters are paid and completed and you will receive the keys to your new home.
- Congratulations! You are now the owner of a faantastic new home.
Keeping You Informed
- We know you are as keen as we are for you to enjoy your new home. Therefore, when you exchange contracts, we give you an estimated completion date. We try our upmost to make this date.
- We will be in constant contact with you regarding the production on site and a month before your proposed move in date we will confirm the estimated date your property will be ready.
- Two weeks later we will give you your final move in day, this will allow you enough time to speak with your solicitors, organise transport of your furniture and get everything in place to complete.
On the Big Day
- We understand moving is a big process, so to make it easier for you, we will organise a meeting to show you around your new home. This will include showing you everything from where the light switches are, to how the heating system works. If there are any further questions we are only one call away.
- At this time, we also provide you with meter readings for your gas, water and electric so you know in your own comfort you will not be paying for any services until the day you move in.
Your Guide For
Consumer Code for Home Builders
The Consumer Code for home builders was brought into practice to protect you, the customer. The code contains guarantees that Brindle homes takes very seriously. But more importantly, the code gives you, the customer, an opportunity to be protected when you buy a new home either complete or simply off plan.
With your new Brindle Homes property you can relax in the comfort that it has been protected by an LABC licence. The Cover LABC give you is for a full ten years. This scheme protects you against any serious defects that may occur once you have purchased your home. Brindle Homes also offers a full warranty on all plumbing, electrical and house fittings for one year. Please see the terms and conditions of your warranty.
Health & Safety
Health and Safety is very important to us. Looking after your family is at the forefront of Brindle Homes. A building site if not managed properly can be a dangerous place. If we see it necessary you will be given any Health and Safety guidance needed to walk around our sites. It is very important for you to know that you must book a site viewing with our sales team so that works can be appropriately programmed with you in mind. Most importantly while on site you must keep children close by at all times. For more information contact firstname.lastname@example.org
Stamp Duty Explained
Stamp Duty is the common phrase for ‘stamp duty land tax’. This is a tax which arises when one party buys a plot of land from another. From 4th December 2014, SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band.
The table below shows the fees payable on the portion of the purchase price which falls into each price bracket.
|Portion of Purchase price||Rate of Stamp Duty|
|Up to £125,000||0% (nothing)|
|Over £125,000 – £250,000||2% (two per cent)|
|Over £250,000 – £925,000||5% (five per cent)|
|Over £925,000 – £1.5million||10% (ten per cent)|
|Over £1.5million||12% (twelve percent)|
Below is a table which shows the current SDLT for each property at Abbeystead Gardens as of 4th December 2014:
We understand that sometimes words are used when buying a home which you may not be familiar with. Here is a guide to what some of them mean:
‘Contract’ , ‘going to contract’ and ‘exchange of contract’ are all common legal phrases used when a sale has been agreed with yourself and Brindle Homes. At the point of contract, the purchaser (yourself) gives over the agreed deposit to your solicitor. It is very important at this stage that you are able to raise the sum for completion – Brindle Homes advises that you discuss your finances with a financial advisor before contract.
The reservation fee is a fee that you pay to reserve the plot or home you want. Reservation fees may vary. We set a contract date at a maximum of six weeks after reservation for you to pay your deposit at exchange of contracts, dependant on the stage of the build.
Deposit is the amount of money you pay at the contract stage. This is typically 10% of the property price. A simple sum of 0.10 x (the house price) = the deposit figure.
Extras refers to additional fittings you require within your property, upgrades to the style of bathrooms, kitchens, garden design and flooring types. Extras have to be paid for in full before being installed – these will usually be discussed prior to exchange of contracts.
This is the stage where you have been given your move in day, typically two weeks before the date. This is the time where the remaining funds will be transferred across to your solicitor ready for Completion.
CONGRATULATIONS, you are now the proud owner of a new Brindle Homes Property. We Hope your new home is everything you wished for and you are very happy within it.
Title Deeds is the legal term relating to the paperwork regarding ownership of the property you are going to buy or have just bought.
A Bridging Loan, is a short term finance which allows to bridge the gap between selling your own property and buying your new home.
This means that you own both the property and the land it sits on
This means that you own the property but not the land it sits on. Typically in this case you will pay a ground rent (normally a nominal sum) per annum to the owner of the free hold. Please discuss this with your chosen solicitor.
This is a very important point to consider. It consists of two areas: contents (to be sorted by the day you move in) and Buildings insurance (which you need from the day you exchange contracts). Please discuss with your insurance or mortgage advisor for more information.
A management company may be involved to maintain communal grounds/roads. The costs for any maintanance is usually divided by the residents.
Sold Subject to Contract
Is a phrase used when the sale of a house has been agreed in principle, but the plot has not been fully secured legally as the deposit and contract have not been completed under English law.
We understand that sometimes problems can occur in your home. At Brindle Homes we take all issues very seriously, our customer care team put as much care into resolving problems as they put in to building your home. We guarantee all of our homes for a year from the day your purchase along with providing an LABC warranty for any issues up to ten years after you buy your home. This gives you complete piece of mind that if a problem occurs you are covered. Please see your LABC warranty pack for more information. Or do not hesitate to call Brindle homes or contact : email@example.com