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Frequently Asked Questions

How much will conveyancing cost?

We have recommended solicitors who have agreed lower fees if you use them when you buy a Rectory home.  The Sales Executive will give you the information of the solicitors so that you can choose who you would prefer to use. We will give you a £250 allowance if you choose to use them.

How much will stamp duty cost?

Please refer to the stamp duty rates on the SDLT website

Do I need a survey?

Everyone who takes out a mortgage will be required to have a survey. The mortgage valuation will confirm to the lender that the property they are lending against is worth what you are borrowing. You will be required to pay a survey / valuation fee when you make your mortgage application. Once paid, the lender will instruct a surveyor to carry out the valuation survey.

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How long will it take to complete my purchase?

When you reserve a Rectory home, you will be advised of the expected exchange date by the Sales Executive. Exchange is to take place within 28 days of receiving draft contracts after making a reservation. Completion will depend on the stage of construction at the time of exchange of contracts.  If the property is build complete, a fixed completion date can be agreed and is usually within two weeks of exchange of contracts taking place. If your chosen property is still under construction, you will exchange on notice which is 10 working days. This means that when your new home is build complete, we will serve notice to legally complete in accordance with the contract.

What are searches?

Your solicitor will request searches from the local authority in order to check any matters that may affect your new home.   You will need to provide your solicitor with funds in advance of these searches being carried out. They will usually request this when you instruct them.

When do I need to pay a deposit?

You will need to pay this to your solicitor in order for exchange of contracts to take place. This money is forwarded to our solicitor on exchange (unless it is Help To Buy). This must be “cleared funds” prior to exchange taking place. If you are selling a property you may be able to use the exchange deposit that has been paid by the buyers below you in the chain.

When do I need to pay insurance?

Usually once you exchange contracts.  Your mortgage lender will insist on buildings insurance being in place.  You may be able to include contents insurance with the same policy or you can take separate policies.

When do I sign contracts?

Once you have made your reservation your solicitors will receive draft contracts from our solicitors.  Your solicitor will request searches and raise enquiries on the contract.  Once you have received your mortgage offer and your solicitor is satisfied everything is in order you will be invited in to go through the documents to sign

When will my mortgage lender release funds?

Once notice has been served to complete, your solicitor will request funds to arrive on the agreed completion date.  This can take up to 5 working days in some cases.

Can I change my mind?

Right up until exchange of contracts, yes you can. Please note you may be liable for admin fees, these would have been explained to you when you made your reservation. Once exchange has taken place then you can't change your mind.

When can I get my keys?

Once our solicitor has confirmed they have received all the completion monies, key release will be granted.  A member of staff will meet you to walk through your new home, read the utility meters and handover your keys.