Buyers Guide

The buying steps
1
Reserve your property

Reserve your property with a NON-REFUNDABLE payment of £1000 - £5000, depending on the price of the property.  

Your new home will be marked 'reserved' for 42 days.

2
Show proof of funds

Please provide us with proof of how you will be funding your purchase, whether you are a cash-buyer or using a mortgage.

3
Instruct solicitor within 14 days

Please instruct a conveyancing solicitor who can carry out all searches and paperwork within 28 days.

4
Prepare your deposit

Please be ready to pay a deposit of 10% of the agreed price.  The deposit will be paid on exchange to your chosen solicitor.

5
Exchange contracts

Our solicitor will aim to exchange contracts with your solicitor within 42 days.

6
Pre-payment of interior choices

If you have the option to make interior choices, 100% upfront pre-payment is required.

7
Progress updates

SY Homes will keep you informed of progress on your development, and specifically your property.

The 'short stop' date is the date we expect the property to be ready.

8
Notice to complete

As we approach the 'short stop' date, we will serve you with notice to complete (minimum of 10 days).  This allows time to prepare your funds and finalise the purchase.

You may undertake a pre-completion inspection at this stage.

9
Complete your purchase

The solicitors will agree a date for completion, when you can transfer your balance of funds and move in!

We will provide an information pack with all appliance manuals and warranties, plus details of the building management company.

10
After-sales care

We will provide you with contact details for our comprehensive after-sales service.  

Your home is covered by Thomas Miller Insurance home owners' warranty.

A personalised service

Sharon Sidell, our Sales and Property Manager, will guide you through every step of your purchase.

The New Homes Quality Board (NHQB) provide a useful glossary of terms.

The deposit

Upon exchange of contracts, the deposit must be paid to your chosen solicitor.  The deposit is 5% of the agreed sale price minus the reservation fee.

Choosing your interior options

Some buyers will have the option to choose interiors, such as kitchen colours, flooring type, and style of fitted wardrobe.  Choices depend on the development and the build stage.

All choices must be paid for in full and upfront to SY Homes.

Leasehold agreement

All apartment properties are sold on a leasehold agreement with a ‘peppercorn’ ground rent (value of £0).  Compliant with the Leasehold Reform (Ground Rent) Act 2022.  Home buyers will then own a share of the Freehold.  Please check your leasehold agreement for details. 

Service charges and other expenses

Service charge is based on the size of apartment.  Please ask Sharon for pricing for each property you are interested in. 

Your lease sets out the way the service charge is organised, which may include:

  • charges for running or maintaining the building
  • insurance of the building (not the contents)
  • a reserve fund to help cover any unexpected maintenance or repairs

Building management

Once construction is complete, SY Homes nominates management of the central facilities to a building management company.

  • Albury Place is managed by LSH Residential (formerly known as HLM and HLM Property Management).
  • Old Coleham Court will managed by LSH Residential.

After-sales care

On completion, SY Homes provides:

  • Information pack with all appliance manuals and warranties
  • Details of the Building Management company
  • 12 months snagging
  • Thomas Miller Insurance home owners 10 year warranty.

We pride ourselves on building homes of the highest standards with excellent attention to detail.  We measure our success on receiving a low number of call-outs and positive testimonials from home owners.

Home-owners will be provided with a contact to call or email with any snagging issues or defects (including out-of-hours emergencies).