Advice on buying a brand new home > House Builders

Reservation fee refund - Inland/Anderson Homes

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gemmalouise24:
Hi,
We recently reserved a new home. Put the £500 down and then got all of the mortgage information secured.

After this was all in place, we went ahead and bought tiles and carpet with the home builder. Unfortunately after this, our official mortgage offer was withdrawn.

We were told as we were help to buy we would get all the money spent on the home so far, back.
We haven't and now they are telling us we only get our house reservation.

Does anyone have any insight or experience in this matter?

New Home Expert:
You should get a full refund of your reservation fee, less any justifiable, reasonable and previously notified administration costs.

As for the money you paid for upgrades or extras, if these have been put in the home then I am afraid you will lose this money. If they have not you should insist on a full refund.

It must be said that in the current financial environment, I find it hard to understand why you cannot get another mortgage offer with another lender.
Current Best Buys

gemmalouise24:
As far as I know nothing has yet been installed as the build was put on hold while they sorted out some electric cable issues.

We are both self employed, once it went to the final underwriter they thought it was too big of a risk, even though we can afford the mortgage payment x3.

New Home Expert:
You should and must get a full refund of the optional extras/upgrades you paid for.
However, normally you should pay for the upgrades on Exchange of Contracts.

Re the mortgage, I would try again with a different broker.

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