Buying new build

Dogsarethebest2025

Hey, I need advice about the timeframe of the whole buying process. 

We found our dream home. We are selling ours first whilst saving more for a deposit then renting as I know newbuilds tend to be delayed etc. 

We know you can reserve a home 3-6 or even 9 months before it’s completed and you can move in. 

So the developer has another 2 years of building but only a selection of houses that I like will be built so I want to get in there as soon as possible to reserve. 

If I reserve a home in February 2026 and it’ll take for example 6 months for home to be completed. Do you sort the mortgage out asap? I’m confused because the sales advisors always say they want to exchange within 12 weeks but the house isn’t ready for another few months so do you pay mortgage in between? 

When is the deposit, stamp duty and legal fees paid? When contracts are exchanged or when you complete? 

Dustyevsky

(Deleted)

Just spotted your other thread. You're further advanced in your thinking than it appeared here.

kingstreet

Yes. You will usually be expected to exchange contracts quickly with a long period before the property is completed. Many lenders have newbuild mortgage offers with a longer duration, perhaps twelve months or six months with a six month extension available.