New Build Solicitors

Because you are often buying a property that may not be completed—or even started—at the point of purchase, the legal process can be more involved than buying an existing property. There are a few key areas that set it apart: 

Short Reservation Period: You will usually pay a reservation fee to secure your chosen plot, and you are then given a short time, often around 28 days, to exchange contracts. If you miss this deadline, the developer could offer the plot to someone else, and you risk losing your reservation fee. 

Deposit Payment & Protections: A deposit of 10% of the agreed purchase price is usually payable on exchange. Your solicitor or conveyancer must ensure that it is protected by way of an insurance policy, should the developer fail to complete the build. 

Uncertain Completion Date: Because many new build homes are sold off-plan, it’s rare to have a fixed completion date. Completion is typically “on notice,” meaning it occurs when the property is structurally finished and final certificates (such as Building Regulation approval) are issued. This can be difficult to coordinate if you’re selling another property at the same time. 

Mortgage Offer Timing: You often need to have your mortgage finance in place and be prepared to move quickly when the property is declared ready. Mortgage offers can expire if the build takes longer than expected, so timing is crucial. 

Potential Temporary Accommodation: If the exact build completion date is unclear, it can be challenging to align the sale of your current home and the completion of your new one. In some cases, you may need to consider temporary accommodation unless the developer offers a part-exchange scheme for your old property. 

The timescale for new build conveyancing can be unpredictable, but here is a step-by-step guideline that you may find useful:  

• You will be asked to pay a reservation fee to secure your preferred plot 

• You will be given a range of time to exchange contracts, usually around 28 days 

• A deposit of the purchase price will be paid upon exchange, usually 10% 

• Your solicitor will ensure an insurance policy is in place, in case of a developer's failure to complete 

• Completion will be triggered when property has been structurally completed, usually when the Building Regulation Certificate and/or new build warranty note is issued 

• Make sure you have a mortgage or funding ready as you will be given a range of time to complete the purchase and pay the remaining purchase balance, usually this is 2 weeks 
   

You may be persuaded to use a solicitor on the developer’s chosen panel, which can be tempting as they will usually be offering a lower legal fee than a truly independent solicitor or conveyance.

However, a panel conveyancer may be more susceptible to the developer's pressure for an early exchange of contracts.  

The choice of solicitor or conveyancer is entirely yours. Our residential team has many years of experience to ensure that they act in your best interests at every step of the process.  

• We have been ranked as a Top Tier law firm by the Legal 500 for the last seven years. 
• You will have access to more than 30 property experts across the Myerson Property Group, including residential property, property litigation, construction, commercial property, conveyancing and development. 
• You will receive city-quality residential property legal advice at regional prices. 

• We provide a partner-led service to ensure you receive the very best legal advice and commercially minded support. 
• We have a large team which can meet your deadlines. 
• We understand that each transaction is bespoke to your circumstances and that you need support from a conveyancing lawyer who is experienced in dealing with a wide variety of clients and types of work. 
• We are a full-service law firm operating from a one-site office, which means our property teams communicate effectively and efficiently. 
• We use the latest technology to ensure that we are working as efficiently as possible, and that geographical distance is no bar to us from providing excellent client service. 

• Look at the Myerson Promise for further benefits of working with us here.