New build completion

slwj89

Hi all.

any have experience with new build completion dates?

our new build now has a roof on it, we have been given the vague estimate of end of June, our mortgage offer runs out on the 30th June 🤦‍♀️🤦‍♀️😳 
apparently things are looking good, materials are in constant supply, no delays and developer seems confident the date shouldn’t move. 

However I am very dubious about their confidence and the thought of having to extend the mortgage is giving me nightmares lol.

any one have any experiences of time scales etc? 

Thank you xx

andyf1980

Yes we do. Our build was delayed and the mortgage offer expired. We got a new offer without any problem but it was quite stressful. 

slwj89

andyf1980 said:

Yes we do. Our build was delayed and the mortgage offer expired. We got a new offer without any problem but it was quite stressful. 

May I ask what it entailed to get a new offer? Was it like applying all over again? 

My nerves are shot to bits at the moment lol

how delayed was your home? X

andyf1980

As it happens we applied with a different lender. I can’t remember why but they probably had a better rate. 

When we bought it was at the foundations stage. It ended up being six months delayed but it sounds like yours is much further along so hopefully won’t be so long. 

It was very stressful but worth it in the end though as we have been happy in the house. We are moving after 5 years. 

slwj89

andyf1980 said:

As it happens we applied with a different lender. I can’t remember why but they probably had a better rate. 

When we bought it was at the foundations stage. It ended up being six months delayed but it sounds like yours is much further along so hopefully won’t be so long. 

It was very stressful but worth it in the end though as we have been happy in the house. We are moving after 5 years. 

It’s nice to hear some positive comments regarding new builds, we have had nothing but negative remarks.

yes I am hopeful this is the case, roof is on etc, my husband is a builder and has said he can’t see why they can’t get it done by end of June. 

But I’m worse case scenario we can extend mortgage for another 30 days. 

Thanks for your help x

good luck with new move. 

GDB2222

Buying new builds off plan is such an awful, unfair, one sided, and stressful process, that it’s amazing that anyone does it. Yet, developers sell 100-200k new homes a year, and mostly the process, somehow or other, works okay. 

poppy12345

Yes, i know someone that had their new build delayed 3 times and it was fully built. Delay reasons included health and safety concerns outside on the road. First date was November, 2 further delays after this. Their mortgage offer expired and the lender refused to extend it.

They found another lender with a better rate so they had to apply again, which took quite a few weeks. They finally moved in a few weeks ago.

kingstreet

slwj89 said:

Hi all.

any have experience with new build completion dates?

our new build now has a roof on it, we have been given the vague estimate of end of June, our mortgage offer runs out on the 30th June 🤦‍♀️🤦‍♀️😳 
apparently things are looking good, materials are in constant supply, no delays and developer seems confident the date shouldn’t move. 

However I am very dubious about their confidence and the thought of having to extend the mortgage is giving me nightmares lol.

any one have any experiences of time scales etc? 

Thank you xx

Which lender please? The process is different in pretty much every case.

slwj89

kingstreet said:

slwj89 said:

Hi all.

any have experience with new build completion dates?

our new build now has a roof on it, we have been given the vague estimate of end of June, our mortgage offer runs out on the 30th June 🤦‍♀️🤦‍♀️😳 
apparently things are looking good, materials are in constant supply, no delays and developer seems confident the date shouldn’t move. 

However I am very dubious about their confidence and the thought of having to extend the mortgage is giving me nightmares lol.

any one have any experiences of time scales etc? 

Thank you xx

Which lender please? The process is different in pretty much every case.

Pepper money 

kingstreet

Ninety day offer with up to two thirty day extensions is what my notes tell me.

Racky_Roo

I bought off plan end of July 2020. At that point it was watertight and when I went back in Sept all internal walls were up, bathroom tiling done and electrics and plumbing done. Mine was due to be ready end Oct but I moved in mid Dec. Main delays were materials and then getting building control sign off as at the time a lot were still furloughed. I was porting my existing mortgage so it wasn't a disaster but my buyer wasn't overly happy with the delays.

I would assume there will be a slight delay as there are still material shortages so maybe start looking into getting the mortgage extended, at least you are prepared then

I'm also really happy in my new build, no regrets at all. I chose one of the houses being completed later on the site as I wanted my own flooring and worktop choices and am glad I waited. Mine looks so much nicer than the ones which came as standard.