# New build conveyancing: reservation, exchange deadlines, warranties and snagging > Moving home & conveyancing · Last updated 25 September 2026 Canonical HTML: https://moneyguide.org.uk/moving-home/new-build-conveyancing/ Markdown mirror: https://moneyguide.org.uk/moving-home/new-build-conveyancing.md ## Quick answer Buying a new build follows the normal conveyancing steps, but the developer sets the pace. You pay a reservation fee, your conveyancer checks the developer's contract, plans and warranty, and you usually have to exchange by a deadline in the reservation agreement. Completion follows a notice to complete once the home is finished, so the date can move. ## Who should skip this Skip this if you're buying a home someone has already lived in: our guide to conveyancing when buying covers that. If the new build is shared ownership or a leasehold flat, read those guides as well. With a new build you're buying from a company, often before the home is finished, on the developer's own contract. The developer sets the reservation terms, the exchange deadline and the completion notice, and your protection comes from the warranty and the consumer code the developer has signed up to. This guide explains those differences, mainly for England, Wales and Northern Ireland, with notes on Scotland. ## Key facts - Under the New Homes Quality Code, a reservation agreement must include a cooling-off period of at least 14 days with a full refund of the reservation fee - For homes reserved from 2 March 2026 with a registered developer, the exchange deadline must be at least six weeks after reservation unless you ask for an earlier date - NHBC's Buildmark is a 10-year policy: insolvency cover before completion, a two-year builder warranty, then usually eight years of insurance for damage caused by defects in certain parts of the home - The New Homes Ombudsman Service is free for buyers from developers registered with the New Homes Quality Board. The statutory scheme in the Building Safety Act 2022 isn't in force - Help to Buy: Equity Loan is closed to new applications in England. Help to Buy – Wales takes applications until 31 March 2027 - Stamp Duty works as for any purchase. A first-time buyer pays nothing on a £300,000 new build in England ## How is buying a new build different? The legal work is similar, but the developer controls the timetable and the paperwork. Your conveyancer checks the draft contract and transfer (or lease, for a flat), the plans and boundaries, planning permission, whether roads and drains will be adopted, the warranty and any estate or service charges, often using the Law Society's TA8 new home information form. Developers can sign up to one of two consumer codes: the New Homes Quality Code, run by the New Homes Quality Board (NHQB), or the Consumer Code for Home Builders, and NHBC says the builder should tell you which applies. This guide quotes the New Homes Quality Code. It only protects you if your developer is 'active' on the NHQB's Register of Developers and you reserved on or after its registration start date. In Scotland the equivalent of exchange is concluding missives, and the Code says a new home in Scotland isn't complete until the local authority has confirmed it's ready to live in. ## What are reservation agreements and fees? A reservation agreement is a short contract that takes the plot off the market while the legal work is done, in return for a reservation fee. Under the New Homes Quality Code it must set out the fee, the price and how long it's valid, your cancellation rights, the warranty provider, the tenure and estimated yearly management costs. The developer must also give you an affordability schedule of known ground rent, management and maintenance costs over the next five years. Every reservation agreement under the Code has a cooling-off period of at least 14 days. If you cancel for any reason in that time, you get the whole fee back. After that, the developer can keep any deductions set out in the agreement, but it must refund the rest within 14 days of your cancellation. While the reservation is valid, the developer can't cancel it or sell the plot to someone else. The Code doesn't cap reservation fees, but it caps optional 'early bird' plot-option fees at £150. In England, Wales and Northern Ireland the reservation is 'subject to contract': it isn't legally binding until contracts are exchanged. ## When do you exchange and complete on a new build? The developer sets the exchange deadline in the reservation agreement. For homes reserved from 2 March 2026 with a registered developer, the New Homes Quality Code says it must be reasonable and at least six weeks after reservation (28 days plus the 14-day cooling-off period), unless you ask for an earlier date. Other reservations may be on different terms, so read your agreement and start your mortgage application and searches straight away. The contract of sale sets out when the developer can serve notice to complete and what happens if the home isn't ready. Contracts usually give an estimated completion date and a 'long-stop' date after which you can withdraw if the home still isn't finished. Under the Code, the contract must say when you can cancel, for example after an excessive or unreasonable delay. You also get 14 days to cancel with a full refund if the developer makes a 'major change' to the size, layout, appearance or value of the home. When the home is finished, the developer serves notice to complete. The Code says the notice period is usually expected to be at least 14 calendar days unless you both agree otherwise, and completion can only take place on a finished home that meets building regulations and has warranty cover. Check your mortgage offer will still be valid if the build runs late, and see [buying and selling at the same time](/moving-home/buying-and-selling-at-the-same-time/) if you have a sale to line up. ## What does a 10-year new-build warranty cover? GOV.UK says new-build warranties usually cover structural repairs for the first 10 or 12 years. NHBC's Buildmark is a 10-year policy in three parts. Section 1 covers the loss of your deposit, or the extra cost of finishing the home, if the builder becomes insolvent before completion. Section 2 is a builder warranty, usually for two years, during which the builder must put right defects that breach NHBC's requirements, and NHBC guarantees that the builder will. Section 3 is usually eight years of insurance for damage caused by defects in specific parts of the home, such as foundations not built to NHBC's requirements. Warranties don't cover everything. NHBC excludes anything covered by other insurance or manufacturers' guarantees, wear and tear, poor maintenance, and later alterations such as extensions. For the main insurance cover, a claim must exceed the minimum claim value on your policy, and on an older home earlier owners' claims may have used up part of the cover. Other providers have their own terms, so ask your conveyancer for the policy documents. The Code also requires the contract to include a two-year builder's liability period, and developers must run an after-sales service for at least two years after completion. ## What is snagging, and how do you complain? Snags are finishing faults that the developer should put right, from paintwork to doors that stick. The Code notes there are usually some to fix after you move into a new home, and developers must deal with them through their after-sales service as soon as possible. Under the Code you can inspect the home between notice to complete and completion, yourself or through a qualified inspector from a recognised professional body, using the NHQB's Pre-Completion Inspection Checklist. The developer should fix anything that breaches the warranty's technical standards before completion, or within 30 days if that isn't possible. There is no official data on what inspections cost, so get quotes. If you can't settle a complaint with the developer, the New Homes Ombudsman Service can investigate for free, as long as your developer is registered and you reserved on or after its registration date. You have two years from reservation or completion, whichever is later, to complain. The statutory new homes ombudsman scheme in the Building Safety Act 2022 isn't in force, so this protection depends on your developer having joined the Code. ## Will you pay service charges or estate charges? You might, even on a freehold house. On some new estates the council doesn't take over the roads, green spaces or play areas, and homeowners pay a management company to look after them. New flats are usually leasehold with a service charge, so read our [leasehold conveyancing](/moving-home/leasehold-conveyancing/) guide too. The Code requires the developer to tell you how shared spaces and roads will be managed and to give a five-year costs schedule that flags charges likely to rise as more facilities open. The Law Society's LPE2 form similarly warns buyers on new developments that maintenance costs may go up a lot once the site is complete. The Leasehold and Freehold Reform Act 2024 includes new rights for freehold homeowners who pay estate management charges, such as a reasonableness test and the right to take disputed charges to a tribunal. The government has consulted on the details, but those sections were not in force on 25 September 2026. ## Do you pay Stamp Duty on a new build? Yes. It's worked out the same way as for any purchase, based on the price, where the home is and your circumstances. There's no special relief for new homes. Worked example: a first-time buyer pays £300,000 for a new-build house in England. First-time buyer relief means 0% on the first £300,000, so there's no Stamp Duty. Someone who has owned a home before pays £5,000: 2% of £125,000 (£2,500) plus 5% of £50,000 (£2,500). HM Land Registry's fee is £330. A new-build house is normally a transfer of part of the developer's land, and a new flat is a newly granted lease, and neither gets the online discount. The table assumes the buyer owns no other home. Try your own figures in our [Stamp Duty calculator](/tools/stamp-duty-calculator/). *Tax on a £300,000 new-build home at the rates in force on 25 September 2026 (our calculator)* | Where the home is | First-time buyer | Has owned a home before | | --- | --- | --- | | England or Northern Ireland (SDLT) | £0 | £5,000 | | Wales (LTT) | £4,500 (no first-time buyer relief) | £4,500 | | Scotland (LBTT) | £4,000 | £4,600 | ## What if the home was bought with Help to Buy? Help to Buy: Equity Loan is closed to new applications in England, but anyone who used it must repay the loan when they sell. You repay your equity loan percentage of the market value or the agreed sale price, whichever is higher, plus any interest, fees and arrears. GOV.UK's example: a home bought for £200,000 with a 20% loan (£40,000) and later worth £250,000 means repaying £50,000. Selling involves extra steps: a RICS valuation report addressed to Homes England (valid for 3 months), a £200 administration fee (per Homes England's guidance, last updated November 2023), and a legal undertaking from your conveyancer before Homes England issues an 'Authority to Complete'. In Wales, Help to Buy – Wales still offers an equity mortgage of up to 20% of the price on new builds from registered builders, and applications must be made by 31 March 2027. For the wider schemes, see [Help to Buy and shared ownership](/mortgages/help-to-buy-and-shared-ownership/). ## Frequently asked questions ### Can I get my new-build reservation fee back? If your developer is registered under the New Homes Quality Code, you get the full fee back if you cancel within the cooling-off period, which is at least 14 days. After that, the developer can keep deductions set out in the reservation agreement and must refund the rest within 14 days. Check which code your developer follows. ### How long do I have to exchange contracts on a new build? The developer sets the deadline in the reservation agreement. For homes reserved from 2 March 2026 with a developer registered under the New Homes Quality Code, it must be at least six weeks after reservation unless you ask for an earlier date. Other developers may set different terms. ### What does NHBC Buildmark cover? Buildmark is a 10-year policy. It protects your deposit if the builder goes bust before completion. Then there's a builder warranty, usually for two years, during which the builder must fix defects. After that comes usually eight years of insurance against damage caused by defects in certain parts of the home. Wear and tear and later alterations aren't covered. ### Do I need a snagging survey on a new build? It's up to you. Under the New Homes Quality Code you can inspect the home yourself, or appoint a qualified inspector using the official checklist, after notice to complete and before completion. There's no official data on inspection prices, so get quotes. ### Can I complain to the New Homes Ombudsman? Yes, if your developer is registered and active with the New Homes Quality Board and you reserved on or after its registration date. You must use the developer's complaints process first, and you have two years from reservation or completion, whichever is later. ## Primary source https://www.nhqb.org.uk/wp-content/uploads/2026/02/New-Homes-Quality-Code-V2-March-2026.pdf, https://www.nhqb.org.uk/the-code/, https://www.nhqb.org.uk/homebuyer/am-i-covered/, https://www.nhbc.co.uk/homeowners/buildmark-cover, https://www.nhbc.co.uk/homeowners/buildmark-cover/before-you-complete, https://www.nhbc.co.uk/homeowners/buildmark-cover/first-two-years, https://www.nhbc.co.uk/homeowners/buildmark-cover/after-3-years, https://www.nhbc.co.uk/homeowners/guidance/consumer-codes, https://www.legislation.gov.uk/ukpga/2022/30/section/136, https://www.lawsociety.org.uk/topics/property/transaction-forms, https://www.lawsociety.org.uk/topics/property/leasehold-forms, https://www.gov.uk/government/consultations/enhanced-protections-for-homeowners-on-freehold-estates, https://www.legislation.gov.uk/ukpga/2024/22/section/73, https://www.gov.uk/shared-ownership-scheme, https://www.gov.uk/help-to-buy-equity-loan, https://www.gov.uk/guidance/how-to-repay-your-equity-loan-when-you-sell-your-home, https://www.gov.wales/help-buy-wales, https://www.gov.uk/stamp-duty-land-tax/residential-property-rates, https://www.gov.uk/guidance/stamp-duty-land-tax-relief-for-land-or-property-transactions, https://www.gov.wales/land-transaction-tax-rates-and-bands, https://revenue.scot/taxes/land-buildings-transaction-tax/residential-property, https://www.gov.uk/guidance/hm-land-registry-registration-services-fees ## Related - [How long does conveyancing take?](https://moneyguide.org.uk/moving-home/how-long-does-conveyancing-take/) - [Leasehold conveyancing](https://moneyguide.org.uk/moving-home/leasehold-conveyancing/) - [First-time buyer step by step](https://moneyguide.org.uk/mortgages/first-time-buyer-step-by-step/) - [From mortgage offer to completion](https://moneyguide.org.uk/mortgages/mortgage-offer-to-completion/) - [Help to Buy and shared ownership](https://moneyguide.org.uk/mortgages/help-to-buy-and-shared-ownership/) - [Stamp Duty calculator](https://moneyguide.org.uk/tools/stamp-duty-calculator/) --- Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.