Reserving a new build home is an exciting milestone, but it’s just the beginning of your buying journey. Whether you’re a first-time buyer or a seasoned mover, understanding the next steps will help you move forward confidently.
Here’s a clear, step-by-step guide to what happens after you reserve a new build property.
Step 1: Pay the Reservation Fee
Once you’ve told the developer you’d like to proceed, you’ll be asked to pay a reservation fee, usually between £500 and £2,000. This:
- Takes the property off the market
- Locks in the price
- Starts a formal reservation period (typically 28-42 days)
Tip: Check whether the fee is refundable and what happens if you change your mind.
Step 2: Sign the Reservation Agreement
The developer will ask you to sign a reservation agreement, which outlines:
- The purchase price
- What’s included (e.g. upgrades, appliances)
- Estimated build completion date
- Key deadlines (e.g. exchange within 28 days)
Step 3: Instruct a Solicitor or Conveyancer
You’ll need to appoint a solicitor or licensed conveyancer to handle the legal side of the purchase. They will:
- Conduct searches and legal checks on the land and title
- Review the developer’s contract
- Liaise with the developer’s legal team
- Guide you to exchange of contracts
Important: You are not obligated to use the developer’s recommended solicitor, you can choose your own.
Step 4: Apply for a Mortgage
If you’re using a mortgage to buy your new build:
- Apply immediately after reserving
- Submit required documents for approval
- Arrange a valuation survey (the lender will confirm the property value)
- Receive your formal mortgage offer
Delays at this stage can risk losing the reservation, so act quickly and stay in regular contact with your broker or lender.
Step 5: Exchange of Contracts
Your solicitor will confirm when it’s time to exchange contracts, usually within the 28-day reservation window.
At this point:
- You’ll pay your deposit (typically 10% of the property price)
- Both you and the developer become legally committed
- The completion date is confirmed or given as “on notice” (if the property isn’t finished yet)
Note: Once contracts are exchanged, you can’t back out without serious financial consequences.
Step 6: Build Completion & Final Touches
If your home isn’t finished yet, the developer will:
- Send progress updates
- Invite you to a home demonstration to walk through how everything works
- Notify you of the completion date
Once the build is complete and the final payment is made, it’s key handover day!
Step 7: Snagging & Aftercare
Just because it’s brand new doesn’t mean it’s perfect. You’ll be able to report any small issues, known as “snags.”
- Developers usually allow a 2-year defect period for snagging repairs
- You’re covered by a 10-year structural warranty (NHBC, LABC)
- Always keep a record of any issues and follow up with the aftercare team
Final Thoughts: What to Expect
The time between reservation and completion can fly by, especially with the right support. Here’s a quick summary:
| Step | What to Do |
| Reservation Fee | Pay and sign agreement |
| Legal | Instruct a solicitor |
| Mortgage | Apply ASAP |
| Exchange | Pay deposit, sign contracts |
| Completion | Wait for build and move in |
| Aftercare | Report snags and enjoy your new home! |
Quick Tips for Buyers:
- Stay in regular contact with your solicitor and developer
- Be mortgage-ready before reserving
- Don’t skip the home demo – it’s your chance to learn how everything works
- Keep paperwork and emails in one place for easy reference
Ready to Move into Your New Build?
Knowing what happens after reserving a new build gives you clarity and confidence. If you’re just getting started or approaching exchange, keep this guide handy, and enjoy the journey to your brand new home!
