Off plan property for sale London

Buying your home off-plan

When it comes to finding a home in London, we want everyone to have choice and flexibility and that includes choice in the way you buy. 

What is buying off plan?

Our new-build developments are usually all sold before they’ve been fully built, and this is known as ‘buying off-plan’. 

It means when you view you can see a show home and floor plans, but you won’t be able to see your exact home until it’s fully built and you’ve exchanged contracts. 

The date you move in is always estimated because there could be delays with the build schedule - if that happens, you’ll need to keep your mortgage date up to date and you’ll need to cover these costs.

Benefits of buying a home off plan

• Cost-savings: You may be able to secure a property ‘off-plan’ at a discounted price, meaning cost savings long term.
• Personalisation: Buying a home off plan sometimes gives you the opportunity to add your own style or upgrades, prior to moving in.
• Ready to move in: Fixtures, decorating and final touches are completed before you move in – meaning no DIY
• Energy-Efficiency: New build homes are designed and built to the latest standards, which generally will help save money on energy bills.
• First homeowner: You will be the first owner of the home meaning that there will be no historical owners or hidden issues.

What steps are involved in buying a home off-plan?

1. Find your property
2. Speak to a mortgage advisor
3. Reserve your home
4. Choose a solicitor or conveyancer
5. Secure a mortgage
6. Exchange of contracts
7. Paying your deposit
8. Completion Day

Buying Off-Plan FAQ

Mortgages & Solicitors FAQs

Are there any limitations on the mortgage broker or solicitor I can choose?

• We have a list of recommended mortgage brokers and solicitors available here, however, it is ultimately the individual buyers choice.

Do I need a mortgage offer before reserving an off-plan property?

• Yes, a mortgage offer is typically required when purchasing an off-plan property. Its important to check the timing of this, as it will depend on your chosen lender's requirements and the expected build completion date.

How long does a mortgage offer last, and what if the build is delayed?

• Mortgage offers typically last 6 months. 
• If the build of your new home is delayed, you may need to reapply or request an extension from your lender.

Can I use the Shared Ownership scheme to buy off-plan?

• Yes, some NHG developments support schemes like Shared Ownership. Check individual developments for eligibility.

Do I need to appoint a solicitor, and what should they specialize in?

• Yes, you will need a solicitor experienced in conveyancing and off-plan purchases to review contracts and ensure your interests are protected.

When do I pay the deposit for an off-plan property?

• The deposit is usually payable upon exchange of contracts, typically within 28 days of reserving the property.

About the Development FAQs

How can I be sure of the quality of the property before it’s built?

• NHG Homes offers detailed specifications, floor plans, and computer-generated images (CGIs) to give you an accurate representation. You can also visit show homes if available.

Can I visit the site during construction?

• Site visits may be arranged, but access depends on health and safety considerations. Your NHG Homes sales consultant can advise on this.

What guarantees or warranties come with an NHG Homes property?

• All NHG properties come with a 10-year NHBC warranty or equivalent, covering structural issues, plus a 1-2 year developer warranty for fixtures and fittings.

What if the property doesn’t match the plans provided?

• Minor variations may occur during construction, but any significant changes will be communicated with you. Your solicitor will ensure any changes or queries are addressed in the contract.

Will the development include amenities or green spaces?

• Most NHG developments include features like communal gardens, parking, or gyms. Check the specific development details for included amenities.

Moving In FAQs

When will I know the exact completion date?

• Completion dates are estimated initially but become more precise as construction progresses. The NHG Homes team will keep you updated regularly.

What happens if the completion date is delayed?

• Delays can occur due to unforeseen circumstances. Your contract will outline your rights, and NHG Homes will ensure clear communication throughout the process.

Can I customise or choose finishes for my property?

• Depending on the build stage, you may have the option to choose certain finishes like flooring or kitchen units, enabling you to personalise your home before move in.

What is the process for snagging and identifying issues before moving in?

• A pre-completion inspection will be arranged to identify any issues. NHG Homes will address these before you move in.

When do I collect the keys to my property?

• Keys are handed over on the completion day, once the final payment has been made, and your solicitor confirms the transfer of ownership.

General FAQs

Why should I consider buying off-plan?

• Buying off-plan allows you to secure a property in a competitive market, choose preferred units, and potentially benefit from property value increases during construction.

Are off-plan properties cheaper than completed homes?

• Off-plan properties can offer better value at the point of reservation, but pricing depends on market conditions and location.

What happens if I change my mind after reserving?

• You may lose your reservation fee if you withdraw after reserving. However, details will be clearly outlined in your contract.

How does NHG Homes keep buyers updated during construction?

• Regular updates are provided via email, newsletters, or meetings, ensuring you are informed of milestones and progress.