Purchasing a home is one of the most exciting and biggest decisions many of us will make.
Our dedicated team are here to help you every step of the way if you wish to speak to them. To simplify the process, we have set out the main milestones below.
Once you have chosen your ideal property with London Square, you will need to complete a reservation agreement and pay a reservation fee to secure your home. You should already be financially qualified and have decided whether you will need a mortgage for purchase.
To proceed with the reservation, you will need to appoint an independent solicitor to legally manage your sale and advise you of any legal formalities throughout the sale. London Square has a 42-day reservation to exchange period, including a 14-day cooling off period to ensure you are happy to proceed with your purchase and are in receipt of necessary information.
You should also let your solicitor know if you are selling a property to purchase your new home, so they can help align both sale and purchase.
After 42 days, you will exchange contracts on your new home. This is a big milestone as it means the purchase is legally binding so there are a few important steps to check before you exchange:
- If you are obtaining a mortgage, you should ensure this is confirmed before exchange and valid for the completion date.
- You will need to agree how you will be paying your deposit for exchange and remaining funds for completion.
Ahead of completion, you will receive quarterly newsletters to keep you updated on the build progress and any events London Square are arranging for a chance for you to meet your neighbours.
At least 6 months before completion, please check your mortgage is approved and valid. If you're a cash buyer, please ensure you are prepared to transfer the funds in time to your solicitor.
Legal notice to complete will be sent to your solicitor from London Square's solicitor, as per the contract terms.
Your solicitor will then send you confirmation of the completion date. This is 10 working days from when legal notice is served.
London Square will make sure that your solicitor has received all the documents required including a completion statement.
Your solicitor will send and request you to sign all the completion documents necessary.
You will need to ensure that all remaining monies are sent within the agreed timeframe to your solicitor and not tied up in bonds, overseas accounts or elsewhere.
If you are using Help to Buy, an Authority to Complete is required - your solicitor will be able to advise.
Your solicitor will then send the completion funds to London Square.
Completion takes place.
The Sales Team will call to arrange an appointment to handover your keys.
You have been receiving our quarterly newsletter and these will continue until the development is occupied. We will share a guide to legal completion, so that you know what to expect once we have served notice to complete. Now is a good time to start assessing what furniture you will need for your new home, ready for your Meet the Builder appointment so you can check measure before ordering.
Our sales team members will be in touch regularly to discuss the countdown to completion. We will identify the month you can move into your new apartment. You will receive an invite to ‘Meet The Builder’ an opportunity for you to meet the construction team, view your apartment and ask any questions you may have.
We will be serving legal notice 10 days before completion. During these 10 days, you will be invited to attend a home demonstration in your new home conducted jointly by customer care and the sales team.
Once you have legally completed, the sales team will be in touch to book your handover appointment with our dedicated Customer Care team. Meter readings are taken and keys handed over, now all that’s left to do is move in!
Quality is built into the very fabric of our homes, so you can buy with complete confidence. All our homes carry the reassurance of a 10-year Building Warranty as well as our 2-year London Square Customer Care Warranty.
Our team is exemplary, achieving the 2022 In-House Gold Award for customer service for the third year running.