New Build Home - Reservation Fee and potential rogue traders

Simon1878

comeandgo wrote: »

That company name, are you sure it's correct? Is it a ltd company as you mention director but a company of that name is on companies house but nothing to do with the person you mentioned.

The person I mentioned has a son HK

Berkshire Homes (Northern) Limited

kingstreet

The Consumer Code For Homebuilders

http://www.consumercode.co.uk/

covers builders who are, for example, members of the NHBC.

They have to state how much of a reservation fee will be refunded.

However, if a builder chooses to offer Help To Buy, it agrees to be bound by the rules of the Homes & Communities Agency, which stipulates the maximum reservation fee for a HTB purchase is £500 and the fee MUST be refunded in full, no deduction in the event of cancellation.

kingstreet

Any builder will want you to exchange contracts within 28 days of reserving.

You need to stick the name and address of a solicitor on the PIF. You don't have to spend anything to do that. Phone a solicitor, ask them to open a file and send out a welcome letter. They won;t be able to do anything until you sign and send back their terms, so you are risking nothing.

Process;-

Check HCA Affordability Calculator
Obtain agreement in principle
Preliminary reservation done with builder and solicitor selected
Property information form and reservation submitted
HTB - EL Authority To Proceed issued (ATP)

All the above is done in the first week.

Formal reservation completed
Full mortgage application submitted
Lender valuation done and supporting docs submitted
Mortgage Offer issued
Solicitor handles legal work
Solicitor submits Authority to Exchange (ATE)
Contracts exchanged with completion "on notice" when build over

All of the above is done within 28 days of ATP issue.

Property finished and kitted out to buyer's spec
Demonstration visit and snagging inspection
Notice given
Solicitor submits Forms 1 & 2 for Equity Loan release
Completion takes place, keys and money change hands and mortgage payments commence.

All of the above several months later and can be upto nine months from ATP, upto six months from ATE.

Simon1878

Right I'm pulling out. Spoken to someone who has bought an house from him and the horror stories are shocking. The value is in reality 80k but he paid 180k.

The son is acting as a front for his old man Brendan Kiely

this is the family
https://wikivisually.com/wiki/User:Unofficialautobiographies/Kiely_Family_Manchester

This is his dad
http://www.bbc.co.uk/blogs/watchdog/2012/04/brendan_kiely.html

comeandgo

Please either change or delete the company name in your first post, the company you have named has nothing to do with your problem or this family.

Simon1878

comeandgo wrote: »

Please either change or delete the company name in your first post, the company you have named has nothing to do with your problem or this family.

Yes it does. BERKSHIRE HOMES (NORTHERN) LIMITED.

If you meant because I missed the (Northern) Limited bit off I have now edited it but that is the company.

comeandgo

You have to have the exact name, not part of it, you had totally the wrong company and I think their lawyers would have been pretty pi..ed off you were giving false information about it. You have changed it.

Simon1878

kingstreet wrote: »

The Consumer Code For Homebuilders

http://www.consumercode.co.uk/

covers builders who are, for example, members of the NHBC.

They have to state how much of a reservation fee will be refunded.

However, if a builder chooses to offer Help To Buy, it agrees to be bound by the rules of the Homes & Communities Agency, which stipulates the maximum reservation fee for a HTB purchase is £500 and the fee MUST be refunded in full, no deduction in the event of cancellation.

Sorry to mither you but have you got more information on the HTB and the rules of the homes and communities agency as I can't seemk to find where it says this.

Thank you.

kingstreet

It doesn't say it to the consumer, it's in the rules the HCA demands the builders sign up to.

Phone your local HTB Agent if you want verification.

Simon1878

kingstreet wrote: »

It doesn't say it to the consumer, it's in the rules the HCA demands the builders sign up to.

Phone your local HTB Agent if you want verification.

Getting through seems to be a nightmare.

Thank you anyway, I'll persevere. :beer: