Buying with Barratt

Discussion in 'Barratt Homes' started by Cmoo, Apr 18, 2013.

  1. Cmoo

    Cmoo New Member

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    Thanks for the advice NHE and Ryan it's helped lots. To keep you all up to date we reserved the property yesterday and now have 28 days to exchange. It was written into our reservation agreement that we only need to exchange on 1k and the rest is due at completion. Completion is Nov-Dec so my mortgage offer (assuming we get one!) will still be valid and we can take advantage of Halifax's offer to pay stamp duty for FTBs which will save us a couple of grand :) We also got them to include all flooring and kitchen appliances so that the house will be ready to move into. I'll keep you all posted on my experiences going forward
     
  2. abbottswalk

    abbottswalk New Member

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    Cmoo, are you using the Help to Buy:Equity Loan? as i think you can only get the Authority to Exchange a maximum of 3 months before legal completion from the Homebuy agent.

    My other advice would be to see if you can get/keep hold of the detailed plans they show you. You probably get so little time with them in their office it's impossible to remember/think of everything at the time. (A digital camera might help here)
    Really, in this day and age developers should just be able to hand over a CD-ROM with them all, that would be customer service!
     
  3. Cmoo

    Cmoo New Member

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    Hi abbotswalk,

    I've just checked out the help to buy documentation and i have three months to exchange following authority to proceed, it doesn't mention completion so i think so long as we exchange we're ok :)
     
  4. abbottswalk

    abbottswalk New Member

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    Had a look back at the Homes and Communities Agency website: Help to Buy | Homes and Communities Agency (HCA)

    On the buyer's guide, page 17 of http://www.homesandcommunities.co.u.../our-work/help_to_buy_buyers_guide_080413.pdf
    "Q Can I buy a home off plan?
    Yes. You are able to reserve a new home off plan at any time. However, you cannot exchange contracts before three months to legal completion of the sale. You also need to ensure that your mortgage offer is valid through to legal completion."

    Although in the legal pack for builders and conveyancers:- http://www.homesandcommunities.co.u..._buy_equity_loan_funding_agreement_300413.pdf
    on page 84, your conveyancer needs to confirm to the Homebuy agent
    "the proposed completion date (which must be no more than six (6) months following the date of exchange); and"

    Sorry, not meaning to cause you extra worry, but i had to do a lot of this research when the developers were saying they had no information on the scheme. But it's better to check now before you get to exchange and have incurred more costs.
    It sounds like you should be ok if you get Barratt to set the "Anticipated Legal Completion Date" to 6 months after the exchange date. Even if that anticipated date then moves out in the coming months.
     
  5. NewHomeExpert

    NewHomeExpert Well-Known Member

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    Under the Consumer Code for Home Builders, (you were given one when you reserved? as it is a breach if they dont!) the house builder must give you a completion date and this should be kept up to date as each stage of the build is constructed. They are in breach if they don't!

    Ryan is right a camera for the plans is a good idea.
    I bet they won't let you take a photo though! All copyright excuses etc etc.
    Take a audio recorder though and record what you are told.
    This is now virtually essential if you need to prove builder wrong-doing at a later date.

    Finally, watch out that you home is not rushed for their "half year figures" near Christmas!
     

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