New build insist on completion date

Phoenix1451

I have reserved a new build. The sales manager has told me this will be ready September but after receiving my contract it says completion in notice. Can I insist on a longstop date? Also I am using the help to buy equity loan and have read on the government website that we have to legally complete 6 months after exchange of contracts. Have I read that right and if so does that help me with insisting on a longstop date? 
The help to buy equity is withdrawn by the government in march 2023 that's why I'm worried about delays and need a longstop date as I don't know what would happen if the build was delayed passed March.
It's a bungalow and the roof isn't on yet it isn't weathertight 

I hope someone can help - the joy and excitement is slowly dwindling from buying this home

Slithery

You can always ask for a long stop date. Whether or not the developer agrees to it is a different matter...

Phoenix1451

Slithery said:

You can always ask for a long stop date. Whether or not the developer agrees to it is a different matter...

Thanks Slithery

If I keep insisting would the developer eventually pull out of the sale do you think?
I am more than prepared to lose the property, I feel a longstop date is more important are is that silly?

comeandgo

I don’t think the developer will pull out, you will have to if you are not happy about no long stop date.

Phoenix1451

comeandgo said:

I don’t think the developer will pull out, you will have to if you are not happy about no long stop date.

Can it just stay at a stalemate or will they force me to pull out? Im a first time buyer and I think there will be penalties from my conveyancer if it doesn't go to completion 

user1977

Longstop dates are fairly standard these days.

There aren't going to be "penalties" from your conveyancer but they may well charge you for whatever work they've already done by that point. Hopefully you're not using a conveyancer "recommended" to you by the developer?

Phoenix1451

user1977 said:

Longstop dates are fairly standard these days.

There aren't going to be "penalties" from your conveyancer but they may well charge you for whatever work they've already done by that point. Hopefully you're not using a conveyancer "recommended" to you by the developer?

Unfortunately yes in my niavety and not researching enough before reserving. I am using the developer  recommend conveyor which now I know is a bad idea 🙁 
I have told them I want a longstop date because after getting the contract I can see lots protecting the developer but can't see anything protecting me. I don't want to be legally bound to something I may not be able to follow through with if delays happen to far into the future. I hope the longstop is granted 

TheJP

Phoenix1451 said:

user1977 said:

Longstop dates are fairly standard these days.

There aren't going to be "penalties" from your conveyancer but they may well charge you for whatever work they've already done by that point. Hopefully you're not using a conveyancer "recommended" to you by the developer?

Unfortunately yes in my niavety and not researching enough before reserving. I am using the developer  recommend conveyor which now I know is a bad idea 🙁 
I have told them I want a longstop date because after getting the contract I can see lots protecting the developer but can't see anything protecting me. I don't want to be legally bound to something I may not be able to follow through with if delays happen to far into the future. I hope the longstop is granted 

Again a longstop is a way for if the developer cant complete by X date you can walk away without penalties (however you will be responsible for any conveyancing costs) but again the developers wont pull out if the longstop passes by as that will be your decision.

Phoenix1451

Sorry if I confused things I meant if I keep on insisting on a longstop date before I exchange and the developer keeps saying no will they eventually just pull out and sell the property to someone else or will they basically force me to pull out, can they say exchange today (for example) with completion on notice or we will re market the property 

user1977

If you refuse to exchange on terms they accept then yes, eventually one of you will get fed up and walk away.

Phoenix1451

user1977 said:

If you refuse to exchange on terms they accept then yes, eventually one of you will get fed up and walk away.

Thanks user 1977 I thinks it's really unfair there isn't more to protect the buyer - everything is in favour of the developer
Although I guess I should have done more research before getting involved with a new build. It's a great property, great area, great price 
I just can't do it without some sort of protection for my deposit