Buying Guide

Your Step-by-Step Guide to Buying a New Home

Buying a new home doesn’t need to be complicated. Our simple guide walks you through the process, helping you move forward with confidence from reservation to moving day.

Step 1: Get Ready to Buy

Before reserving a new home, it’s important to be in a position to proceed.

• If you have a property to sell, it should be Sold Subject to Contract with a complete chain

• Understand your budget and deposit position

Many new homes are sold off plan, so timescales can vary. Buyers in a chain are often happy to wait when expectations are clear. Alternatively, some buyers choose to sell first and move in with family, friends, or into short-term rental accommodation.

Some house builders may also offer incentives such as Part Exchange, Assisted Sale, or Early Bird reservations to help simplify your move.

Step 2: Understand Your Finances

Knowing what you can afford will help you focus on the right properties.

• Speak to an independent financial advisor early in the process

• They can assess your circumstances and recommend suitable mortgage options

Most lenders require a 10% deposit, however developers may allow you to purchase with as little as a 5% deposit.

Using an advisor experienced in new-build purchases is highly recommended.

Please note: Stamp Duty rates differ for second-home purchases. See our Stamp Duty guide for more information.

Step 3: Choose the Right Home

New homes are in high demand and often sell quickly, so it pays to be prepared.

We recommend:

• Researching local areas and developments online

• Speaking with local agents

• Visiting show homes to understand layouts, space, and specification

Consider factors such as schools, transport links, and commuting times when choosing your location.

Step 4: Make an Offer & Reserve

Once you’ve found the right home:

• Discuss your position with the house builder or agent

• If required, complete a financial qualification (there is no obligation to use a preferred advisor)

If your offer is accepted:

• The property is reserved

• A reservation fee is paid (usually from £2000, depending on the builder)

• The sale remains subject to contract until exchange

Most house builders require exchange of contracts within 28 days of reservation.

Step 5: Appoint a Solicitor

Choose a solicitor or conveyancer experienced in new-build transactions.

After reservation:

• A memorandum of sale is issued

• Your solicitor will request paperwork and funds to begin searches

• Promptly returning documents helps avoid delays

Step 6: Sales Progression

Our sales progression team supports you throughout the process by:

• Liaising with solicitors, lenders, financial advisors, and house builders

• Providing regular updates

Your mortgage application is submitted, the lender arranges a valuation, and your solicitor prepares contracts once searches and your mortgage offer are received.

Step 7: Exchange of Contracts

When contracts are exchanged:

• The sale becomes legally binding

• A completion date is agreed

For off-plan homes, completion is often on notice. Once your home is ready, the builder will serve notice (usually up to two weeks).

You will normally be invited to a Home Demonstration before completion.

Step 8: Completion & Moving In

On completion day:

• Purchase funds are transferred

• Keys are released once funds are received

• You can move into your new home

If part of a chain, completion may take a few hours — we’ll keep you informed throughout.

Need Help?

Our experienced team is here to guide you every step of the way.

Speak to the Team to discuss your next move.