What to consider when you buy a new build
Home >
All >
What to consider when you buy a new build
Are you thinking of buying a new build? The good news is there are more regulations than ever that protect buyers of newly built homes. It can be difficult to keep up with these changes, so here’s what you need to know.
Codes of conduct
Most developers are signed up to a code which lays out best practice for the marketing, building and selling of new builds. Check which code your builder follows, so you know who is holding them to account if any issues arise. Many developers were signed up to the Consumer Code for Home Builders until 2021, when the New Homes Quality Board (NHQB) was launched.
The guidelines
Transparency is at the forefront of both the Consumer Code for Home Builders and the New Homes Quality Code from the NHQB. Consumers have the right to withdraw from the purchase if the housebuilder makes any changes to the home. Deposits must be protected and high-pressure sales tactics are prohibited to protect vulnerable customers. The housebuilder must also provide an after-sales service for up to two years after legal completion.
Check for snags
Defects with the property – otherwise known as snags – are a common problem with new builds. Buyers can commission a professional snagging company to inspect the new build before they move in. If the developer is registered with the NHQB, they are required to rectify any snags within 30 days, unless there is a suitable reason for delay.
Complaints procedure
Each code has a process and timeframe for the handling of complaints. The New Homes Ombudsman Service is free for anyone whose developer is registered with the NHQB. Meanwhile, issues with housebuilders signed up to the Consumer Code for Home Buyers can be taken to the Independent Dispute Resolution Scheme.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
Other Insights of interest
25th June, 2025
Residential Property Review – June 2025
May sales hit post-2022 high as housing market regains momentum Rightmove says May 2025 was…
Read full insight
25th June, 2025
Commercial Property Market Review – June 2025
City investment rebounds with biggest deal in over a year as recovery continues London City’s…
Read full insight
17th June, 2025
Closing the investing gap
A recent report1 estimates 13 million UK adults are sitting on £430bn of cash savings….
Read full insight
11th June, 2025
Four in five clients see financial advice as ‘value for money’
People with a financial adviser are more optimistic about their financial future. That’s one of…
Read full insight