Cala homes target completion date

debtout

Hello has anyone had any dealings with Cala homes?. We have a new build reserved with them and Target completion date is 1st September to 31st October. Are they always good with meeting these target dates as our mortgage offer is only for upto 5 months. 

andyf1980

Hi, we have not had dealings with Cala but I think all developers are not great at completion dates. We were due to move in March but didn’t until September. Our mortgage offer expired and we had to apply again from scratch having already exchanged. Depending on the lender, some are more flexible about being able to extend the offer. 

debtout

andyf1980 said:

Hi, we have not had dealings with Cala but I think all developers are not great at completion dates. We were due to move in March but didn’t until September. Our mortgage offer expired and we had to apply again from scratch having already exchanged. Depending on the lender, some are more flexible about being able to extend the offer. 

Hi many thanks for sharing your views. That's terrible! I'm worried that it's going to be the same for us, as I really would rather not go through the whole stress of having to apply again. Was yours a help to buy equity loan as well? Did you have to reapply for the equity loan? 

debtout

Can anyone else share their experiences with developers target end dates please? Did your developer meet the target date? 

simon_or

New builds have always been terribly prone to delays. I can't imagine that the current situation is any more conducive than it was a few years ago. But at least if your are using help to buy, I think they HAVE to complete by 31 March 2023. Ask your solicitor about the long stop date.

user1977

debtout said:

Can anyone else share their experiences with developers target end dates please? Did your developer meet the target date? 

You're probably better looking at the House-Buying board, as this isn't really a mortgage question. But generally target dates can only be a rough estimate, and delays often happen for reasons outside the control of developers (whether that's global pandemics, supplies being stuck somewhere, or utility companies being slow to connect up the development).

K_S

debtout said:

Hello has anyone had any dealings with Cala homes?. We have a new build reserved with them and Target completion date is 1st September to 31st October. Are they always good with meeting these target dates as our mortgage offer is only for upto 5 months. 

@debtout I've never heard of Cala homes but generally speaking, both anecdotally and from experience, new-build completion dates do get pushed back all the time, often by a good few months.

It depends on the lender but generally speaking mainstream new-build offers are valid for 6 months initially, plus allow an extension of at least 1 / 3 / 6 (differs across lenders) additional months.

debtout

Hi all many thanks for your input. Will post this on the home buying thread...