New Home Owners And Snagging Forum

Home Owners => Buying and Selling => Topic started by: Chen234 on June 06, 2020, 06:49:09 pm

Title: Buying from a developer who has a dissolved company
Post by: Chen234 on June 06, 2020, 06:49:09 pm

I’m midway through purchasing a new build property and decided to look up the developers on Companies House. It is showing the company dissolved in January 2018 so now I’m really concerned.

Has this happened to anybody else, is this legal, should I be concerned?
Any help would be much appreciated as this is my dream house 😩

Title: Re: Buying from a developer who has a dissolved company
Post by: Midwest on June 07, 2020, 07:29:35 am

That's something your solicitor should be checking. Have you informed your solicitor? Its a bit of a murky world in Companies House. They may have ceased trading in one name, and carried on in one slightly different for various reasons, not all of which are nefarious. Best ask your solicitor.

Title: Re: Buying from a developer who has a dissolved company
Post by: New Home Expert on June 08, 2020, 10:50:42 am

First thing is make sure the new home is covered by an NHBC warranty and not any other warranty provider.
That way, if they decide to go bust again the NHBC Buildmark covers you and gets your home built.
My guess is they wont be NHBC registered builder because they are a risk.
Check this here: http://www.nhbc.co.uk/Homeowners/check-the-register/

If they are not registered do do not buy this home!

The entry at Companies House may just signify a change of name, which can be for any  variety of reasons.

Title: Re: Buying from a developer who has a dissolved company
Post by: Bri on October 01, 2020, 01:15:09 pm

Who is the builder? You will find they usually have multiple companies.
Did you go ahead with the purchase?