New Build Purchase - 28 Day exchange - being pushed to use builder's recommended solicitors

user1977

TELLIT01 said:

user1977 said:

TBG01 said:

You're getting a mortgage. You can't skip searches. Your lender requires them.

Most lenders accept search indemnity insurance:

https://lendershandbook.ukfinance.org.uk/lenders-handbook/englandandwales/question-list/2081/

In any event, searches for newbuild properties are fairly pointless as the planning process flushes out anything weird - what's more relevant is whether the developers have complied with the conditions in their consent for the development.

That is very clearly not always the case.  There have been cases reported recently where small strips of land are not actually part of the purchase, have been sold off, and people are being asked silly money to buy what they always believed was part of their property.  I'm not saying any other solicitor would have spotted it, just that the statement is inaccurate.

Planning is nothing to do with checking that the developer owns the site (and is often granted before they buy the site anyway) - what we're talking about (I think!) are the local authority searches (generally the most time-consuming part of the process). I wasn't suggesting anyone should skimp on verifying that the buyer is getting ownership of the plot they're expecting.

In any event, such problems are often just because the builders have plonked the fences in the wrong place, not something apparent from the paperwork at all.

wjr4

info_maniac said:

I reserved on Thursday evening and I have been given a 48 hour deadline to instruct the solicitors and apply for mortgage,

There is a stamp duty contribution incentive involved and also this house had some upgrades installed which do not come as standard (the previous buyer chose them as part of his option upgrades). I am told that these incentives are valid only when keep the 48 hour deadlines and exchange between 28 days.

When I insisted that I will use my own solicitors, I was told that I will have to exchange within 28 days even if search results are not back by then

How much is your stamp duty? 

[Deleted User]

Never, ever use the builder's recommended solicitors.

Thrugelmir

info_maniac said:

I reserved on Thursday evening and I have been given a 48 hour deadline to instruct the solicitors and apply for mortgage,

Have you now achieved this? 

Borders2017

this is all a sales tactic to ensure they get a sale locked.

get used to being pressured or walk away.

As its a !!!!!! newbuild I would suggest walking away and saving more money and looking elsewhere

NEVER use the buiders solicitors

and be PREPARED for lots of headaches and snagging issues

You sound very green I would do some more research into the site, the builder etc before you jump

Thrugelmir

Borders2017 said:

this is all a sales tactic to ensure they get a sale locked.

If people weren't prodded they'd stall to their own benefit. Developers will want to move on to the next project as soon as possible. 

stuartm100

I am completing on a new build on Friday (first time buyer) and used the builders recommended solicitors, and have been perfectly happy. 

They have been quick at replying to my emails (usually within the hour) and have been efficient with everything. I missed the 28 day exchange because of a down valuation delaying the mortgage offer and they weren't too fussed because it was still progressing along - anyone new reserved it and they'd have to start from the beginning again.

The sales office on site also had access to the solicitors case portal so they could see how the case was progressing without having to chase me for updates all the time

Chumy

stuartm100 said:

I am completing on a new build on Friday (first time buyer) and used the builders recommended solicitors, and have been perfectly happy. 

They have been quick at replying to my emails (usually within the hour) and have been efficient with everything. I missed the 28 day exchange because of a down valuation delaying the mortgage offer and they weren't too fussed because it was still progressing along - anyone new reserved it and they'd have to start from the beginning again.

The sales office on site also had access to the solicitors case portal so they could see how the case was progressing without having to chase me for updates all the time

You are missing the points.
Things will go smoothly with the recommended solicitors mostly because there's no hard questions to answer or surprises. 

The surprises usually comes on completion and sometimes years later when a dispute/issue arises or you come to sell and the buyer solicitor starts letting you know of stuff you should have know when you were buying

Hope it turns out well for u

Thrugelmir

Chumy said:

stuartm100 said:

I am completing on a new build on Friday (first time buyer) and used the builders recommended solicitors, and have been perfectly happy. 

They have been quick at replying to my emails (usually within the hour) and have been efficient with everything. I missed the 28 day exchange because of a down valuation delaying the mortgage offer and they weren't too fussed because it was still progressing along - anyone new reserved it and they'd have to start from the beginning again.

The sales office on site also had access to the solicitors case portal so they could see how the case was progressing without having to chase me for updates all the time

The surprises usually comes on completion and sometimes years later when a dispute/issue arises or you come to sell and the buyer solicitor starts letting you know of stuff you should have know when you were buying

Solicitors have professional standards to uphold.  While they have a connection to the developers. They are not in the developers pocket. No one throws there entire livelihood by providing a substandard service intentionally. 

stuartm100

Thrugelmir said:

Chumy said:

stuartm100 said:

I am completing on a new build on Friday (first time buyer) and used the builders recommended solicitors, and have been perfectly happy. 

They have been quick at replying to my emails (usually within the hour) and have been efficient with everything. I missed the 28 day exchange because of a down valuation delaying the mortgage offer and they weren't too fussed because it was still progressing along - anyone new reserved it and they'd have to start from the beginning again.

The sales office on site also had access to the solicitors case portal so they could see how the case was progressing without having to chase me for updates all the time

The surprises usually comes on completion and sometimes years later when a dispute/issue arises or you come to sell and the buyer solicitor starts letting you know of stuff you should have know when you were buying

Solicitors have professional standards to uphold.  While they have a connection to the developers. They are not in the developers pocket. No one throws there entire livelihood by providing a substandard service intentionally. 

Agreed

My other half is a Solicitor (not a conveyancing one) and he's always paranoid about getting something wrong and putting his practicing certificate at risk