Financial and Legal
Our Sales Advisor can arrange a telephone call or appointment with our nominated Mortgage Broker, New Homes Mortgage Helpline. They specialise in New Build mortgages, and have access to exclusive products that are not available on the high street. The Helpline are available for advice 7 days a week, and they will arrange to meet you at a time convenient to yourselves. See Mortgage Services for full details of the service provided.
Prior to approving your mortgage application, your chosen lender will have the property valued for mortgage purposes and a fee will normally be payable.
Please note that the value the lender puts on the property is a valuation for loan purposes only. This valuation figure may not be reflective of the open market value. You should also be aware that if you order numerous bespoke extra additions to your new home, the full value of these may not be reflected in the value the lender puts on he property.
This Search will establish if your new home is likely to be affected by any planning decisions or other proposals close to the new development.
Leashold means the Land is held under a Lease for a specified term of years on which a ground rent is paid. Freehold means you have full ownership of both the property and the land on which it stands.
Stamp Duty is payable on all homes with a purchase price of over £125,000. The amount you will have to pay will be based upon the purchase price of your new home. Currently the scale charges are as follows:
|Purchase price||SDLT rate|
|Up to £125,000||Zero|
|Over £125,000 to £250,000||1%|
|Over £250,000 to £500,000||3%|
If the value is above the payment threshold, SDLT is charged at the appropriate rate on the whole of the amount paid. For example, a house bought for £130,000 (by someone who is not a first-time buyer) is charged at 1%, so £1,300 must be paid in SDLT. A house bought for £350,000 is charged at 3%, so SDLT of £10,500 is payable.
This fee is to register your ownership of your property with the Land Registry. The fees are set by the Government.
House Buying Process
Where Part Exchange is offered it varies depending on the property you wish to purchase and the property you have to sell. Usually, there needs to be a differential of around 30% between the value of your current home and the new Bellway Home. We also offer our Express Mover Scheme which has more flexibility to help sell your current home. By using a local agent to market your property, Bellway will do all the chasing to ensure you find a buyer as quickly as possible. Please ask our Sales Advisor for more details.
If you are selling your home and buying a new home, it is your solicitor's responsibility to ensure that both sets of contracts – i.e. the sale of your existing home and the purchase of your new one - are exchanged simultaneously and a suitable moving day agreed. It is not always possible to co-ordinate the sale of your existing property and the completion on your new Bellway Home and if this is the case you may have to consider some form of temporary accommodation until your new Bellway Home is ready. (England only)
Your reservation fee reserves your new home and during this reserved period your new home will be withdrawn from sale and it will not be subject to any price increases. We will then ask you to exchange contracts and pay a deposit on exchange which is usually within 28 days of reservation. The reservation fee and deposit are then deducted from the price of your home. (In Scotland, missives must be concluded in 10 working days)
The property will normally be reserved until the date stated on your reservation form in England as this is when contract exchange is expected to take place. (England only)
We usually require a minimum £250 as a reservation fee however this is subject to regional variations and the amount can also vary depending upon the purchase price of the property.
Following the guidelines under the Consumer Code, a homebuyer has the right to be reimbursed the reservation fee but an amount of up to a maximum of £250 can be retained to cover administration costs. If you are buying the property for investment purposes, your reservation fee is non refundable.
If you are reliant on the sale of your home to finance your new Bellway home, you must have sold your property before you reserve a new Bellway home. This is to ensure that contracts can be exchanged 28 days after reservation. (England only) If you have not sold your house and wish to buy a Bellway home, we offer a Part Exchange Scheme and Express Mover Scheme both of which are available to help make your move as hassle free as possible.
As part of our Sales service, you will be kept informed of all progress of your purchase. This includes regular chasing of the broker for progress on your mortgage application and survey, to making sure all your legal paperwork is ready on time with your solicitor, to allow the exchange of contracts and legal completion to go through smoothly. We also keep you fully up to date on the build progress of your new Bellway home.
We aim to make moving home as simple as possible, and from the day you walk on to our Development to the moment we hand over the keys to your brand new home, we undertake to provide you with the best possible customer service. Our Customer Service Charter describes the level of service and standards that you can expect from Bellway.
Our Sales Advisor will be there on the day you move in to ensure you settle in as smoothly as possible. Three days after moving in, we will make a courtesy call or visit to ensure you are happy with your new surroundings.
The Site Manager will contact you within seven days of legal completion to arrange to complete any reported items. You will also be provided with Our Customer Care Department contact details so that there will be someone there you can speak to about any outstanding issues.
Just like a new car, your new home needs to 'run in'. During this period, the main thing to bear in mind is that your house is still drying out, since thousands of litres of water were used in the construction. As you new home dries out, it will release moisture into the air which can create condensation on cold surfaces such as windows and exterior walls. You can reduce this by keeping background central heating as low as possible, and you may choose to open windows for a while each day, to circulate fresh air round the house. During this period, a few small cracks may appear in the walls and timberwork, this is quite normal and can be cured when you re-decorate.
You will be provided you with our "Homecare" booklet upon moving into your new home which gives you essential advice on all aspects of maintaining your new home.
Emergencies are classed as:
- Complete failure of the heating and/or hot water system during winter (October-April)
- Complete loss of water or gas supply (you need to check with relevant authority/supplier that the problem is not caused by a temporary supply interruption)
- A water leak that cannot be contained or is penetrating an electrical fitting
- Gas leaks (you should also call out your gas supplier who will isolate the leak and have your home made safe)
- Loss of electricity supply. You must check first with your supplier to ascertain whether there has been an interruption, such as a local power failure, to the supply. This will only be considered an emergency situation if there is a complete loss of power to the entire unit which cannot be rectified by resetting the trip switch on the consumer unit
Upon completion, you will be contacted by our Customer Care Department and they will outline the process in the event of an emergency in your new home.
There will be a number you can call for day time assistance and a separate number for out of office hours so that you always have someone you can speak to in case of an emergency.
Your new home includes a manufacturers two year warranty that covers the central heating system, boiler, kitchen and bathroom appliances. Your new home will be also covered by the NHBC or similar industry regulated 10 year insurance scheme covering the structural integrity of your new home. Full details of the cover is outlined in the NHBC "Guide to Your New Home" leaflet, which will be given to you prior to legal completion.