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How long can they keep putting back our new build completion date?

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rugbygirl27
rugbygirl27 Posts: 61 Forumite
in House buying, renting & selling
My partner paid our 10% deposit in March for a new build from Bellway which was due to be completed in October. We have been back to the site a couple of times and every time we do the completion date has slipped. First it went to 3rd week of November and now it's the 12th December. Very little work has been done on the house since March and we're not optimistic that the 12th December deadline will be met if we get the bad summer the forecasters are prediciting.

How much can they push the completion date back? We've already lost one mortgage offer because of a screw up by the lender but if we get another one now it may run out before the house is complete if it goes into next year. The reason they have given for the delay is that they've had to lay off brickies, but if they lay off more (as has happened to all other building companies) how long can they reasonably expect us to wait?
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Comments

  • lonestar1
    lonestar1 Posts: 560 Forumite
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    Depends very much on what the contract you signed says. Re Read it and look for anything that mentions completion dates or slippage of
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    First Anniversary First Post
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    If they've no money they may never complete it.
  • rugbygirl27
    rugbygirl27 Posts: 61 Forumite
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    LandyAndy wrote: »
    If they've no money they may never complete it.

    To be honest that wouldn't be the worst outcome, so long as they give our deposit back which one would assume they'd have to?
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
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    rugbygirl27 wrote: »
    To be honest that wouldn't be the worst outcome, so long as they give our deposit back which one would assume they'd have to?

    Do they have to keep it in a separate account or does it just go in 'the pot'. If the latter it may have been lost if they go bust.

    Sorry to be so gloomy.
  • rugbygirl27
    rugbygirl27 Posts: 61 Forumite
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    LandyAndy wrote: »
    Do they have to keep it in a separate account or does it just go in 'the pot'. If the latter it may have been lost if they go bust.

    Sorry to be so gloomy.

    I suspect it just goes in the pot but thankfully deposits are covered by the NHBC so we would get it back. As I say, may not be the worst thing for us.
  • SouthCoast
    SouthCoast Posts: 1,985 Forumite
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    deposits are covered by the NHBC

    Do the NHBC actually have enough money?

    Search this Board for Bellway.
  • rugbygirl27
    rugbygirl27 Posts: 61 Forumite
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    SouthCoast wrote: »
    Do the NHBC actually have enough money?

    Search this Board for Bellway.

    I would certainly hope the NHBC would have enough money. And surely if they are responsibly for repaying deposits in the case of bankruptcy they must be insured by someone to cover the costs?

    Have looked at previous posts on Bellway, wish we'd never got involved with them to be honest!!
  • geoffky
    geoffky Posts: 6,835 Forumite
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    Time to start negations on those falling prices i think..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • AMILLIONDOLLARS
    AMILLIONDOLLARS Posts: 2,299 Forumite
    First Anniversary Combo Breaker First Post
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    So have you actually exchanged, or is this deposit a holding fee to secure the property? It would be interesting to see what valuation your building society now places on the build. There must be something in your contract that mentions a reasonable delay, laying off bricklayers would not be seen as reasonable by the courts only your solicitors can advise you. Unless they have been appointed by the developers, whereby a conflict of interest may have arisen. Book an appointment to see them in person, they should be looking after your interests foremost, if they are not, a complaint to the law society and looking for another firm of solicitors would be in order.

    AMD
    Debt Free!!!
  • GDB2222
    GDB2222 Posts: 24,949 Forumite
    Name Dropper First Post First Anniversary
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    RugbyGirl did you just hand over a cheque for (many) thousands of Pounds to Bellway? Did you have a solicitor involved?
    No reliance should be placed on the above! Absolutely none, do you hear?
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