Please help with this developer (new build flat)!!!!

Yella77

Pls Help with buying a new build flat!!!
I was initially told that a new build flat we were looking to buy was going to be ready for Dec 2008. in Sept. when i was shopping around to buy one. I was then advise last week that the date i was given would not be feasible anymore due to uforeseen circumstances as they have not stopped all construction work on site.

I would not have been bothered normally, since this would really allow me to save up more money whilst waiting for my new falt to be built. But I was then told that the date i was given in March 2009 is only a tentative date as there is no gurantee that this would happen. My offer with Halifax expires in Feb 2009 and halifax has said this would not be extended and would have to re-apply all over again!

Now my question is about getting my money (reservation fee) and the valuation fee paid to halifax back from the developer as they have surely not informed me as to true state of things before i commited to buy.

R there any laws i can pursue (miss selling maybe?!?).

Any advise/help would be greatly welcomed.

Thanks

PasturesNew

This is quite common with new build flats. Their contract will probably include something that says they can string it out if they want.

You need to get your solicitor to look at the contract to see if you can get out of it.

Yella77

Well....There's really no contract @ the moment,; all i was told was that i need to make the reservation to secure the plot and would be ready for Dec. only to be told like a month after that this would not be!
Surely i would have thought i can get my money back since they did not keep their end of the bargain!

Incisor

Yella77 wrote: »

... Surely i would have thought i can get my money back since they did not keep their end of the bargain!

Only if you gave a deposit against a reservation to be available in Dec? They won't be liable for your costs spent with 3rd parties.

GDB2222

I agree that it's not fair. There is no Ombudsman you can go to, so it's just a matter of negotiating with the builders. Can I ask what documents you signed, how much reservation fee you paid, and which builder this was? The best you can hope for is getting your reservation fee back, not your survey fee.

If the builders refuse to give you the reservation fee back, you can sue them, but it will probably ost more than the reservation fee. Also, those docs you signed .... what EXACTLY do they say?

Yella77

Thanks..The only thing i signed was paper for the reservation and it was £1000 with Bryant homes South Wales.

We have not gotten to the stage where they are refusing to refund my money, I can't just afford to re-apply for another Mortgage come March 2009 when they 'think' it might be ready!

I have already spoken with my Solicitors (who was recommended by Bryant Homes to me anyways) and she did not seem really concerned about getting the money back for me and was just saying i would loose the money if i pull out!

Yella77

Thanks..The only thing i signed was paper for the reservation and it was £1000 with Bryant homes South Wales.

We have not gotten to the stage where they are refusing to refund my money, I can't just afford to re-apply for another Mortgage come March 2009 when they 'think' it might be ready!

I have already spoken with my Solicitors (who was recommended by Bryant Homes to me anyways) and she did not seem really concerned about getting the money back for me and was just saying i would loose the money if i pull out!:mad:

silvercar

Did your solicitor warn you of the risks of exchanging with no firm completion date?

You may be able to get the valuation fee back from the Halifax; presuming they have not yet done the valuation as there is nothing to value at the moment.

Yella77

Well, to be fair with my Solicitor she advised that i don't agree to any future completion date for the property since they themselves (the developers) don't even have a confirmed date as to when it would finished.

It seems they are just trying to get people to reserve plots only to be told that this would only be finished next year.

The valauation done by Halifax was based on part completion of the flat..Work is about 70%-75% finshed from what i can see from the outside.
Well, i guess i might not be able to get the valuation fee (£280) back but i would definitely want my £1000 back.

I have been exploring the small claims court option. But wanted any advise really on this forum.

Many thanks

GDB2222

Yella77 wrote: »

Thanks..The only thing i signed was paper for the reservation and it was £1000 with Bryant homes South Wales.

We have not gotten to the stage where they are refusing to refund my money

Yes, what EXACTLY does the "paper for the reservation" say on it?

Yella77

There's nothing on it about any terms and conditions if that is what you are asking,..I have it in front of me now and its a copy of the amount, my details, the amount of the property, solicitors details lenders details and their signature and mine!