Problems with my new home

[xserax]

I bought a new home with Taylor Wimpey last August  and was told I would have contracts very soon.
The completion date they gave was for January.
At the end of October I received a letter to say the contract was delayed but no explanation was given.
I enquired several times and was told the hold up was due to the house not having any electricity but it was all in progress. Today I was given the same reason that they were still waiting for the electric issue to be resolved and they hope to have a completion date in February 2017. They have not told me what the issue is again just electrics.

However one of the sales team that has left the office told me before leaving that there is a legal dispute on the land and Taylor Wimpey are unable to provide electricity as it fringes on someone else's land.
I don't know what this means and if I should be pulling out?

I'm a first time buyer and buying on my own and very confused and alarmed and not sure how concerned I should be? Please help ?

[New Home Expert]

It comes to something when you only got the truth from someone at Taylor Wimpey who was leaving them!

Please do not exchange contracts.
I take it you have reserved so you have at least fixed the price you will be paying.
There are requirements in the Consumer Code for Home Builders regarding completion dates. (Requirement 3.2)
Clearly this delay is out of Taylor Wimpey's control but is something they should have foreseen and sorted out long before they started works on site.

So what should you do?
You could wait it out but then your mortgage offer might expire and you will be presumably wasting money renting for longer.
If you haven't exchanged contracts you could walk away and get a fuill refund of your Reservation fee and any other related expenses.  If Taylor Wimpey refuse you can claim this money using the Consumer Code for Home Builders Adjudication Scheme.

My advice would be to walk away if you can and buy a home from a better house builder!