Risk of developer going bankrupt after home purchase.

[Adamski89]

I'm new on forum, I tried to search for similar topic but didn't find anything.

I have recently purchased a new build some from small local developer who had his company registered for 9 years and was doing single builds before only.
There are already some houses sold (10+) on this development and all of them are awaiting gardens to be flattened and turf laid.

At the present, all construction works has stopped for at least 2 months and everybody is aware that builder is struggling financially.
In the price of the house everybody been promised front & rear gardens turf and alarms installed.

I'm wondering what will happen if developer goes bankrupt before finishing all snagging and installing that turf & burglar alarm?
What can I do in this case?
Should I see the lawyer ASAP? (my solicitor which I used for purchase were kind of useless saying that with habitation certificate I'm obliged to buy this house ASAP - They just wanted their money really).

House has been sold with 10 year Premier Guarantee.
I took a gamble with this purchase but builder was very keen with all snags until he run out of money (for example, I complained that all windows are scratched and all of them have been replaced - after purchase was made what, some of them had only small scratches which surely were withing tolerances).

Builder is assuring that this construction will be back on track and once they will have people working on site then all houses will get turf and snags done.

Any advice if I can secure myself if developer will goes bankrupt/Liquidaton  ?

Thanks in advance.

[New Home Expert]

First of all, if the builder goes out of business before completing all the works to finish your home the Premier Guarantee Warranty covers this. Likewise I assume for any defects or snagging works.

The problem is (unlike the NHBC Buildmark warranty) Premier Guarantee Warranty has an excess to be paid by the homebuyer of £1,000. This is very likely to be higher than the cost of all the snagging works let alone each item.

I would advise seeing a new solicitor and delaying legal completion until all the works and snagging has been completed. I doubt you could be forced to legally complete the purchase, in any case it would cost the bankrupt builder too much in legal fees and take longer than it would to do the small amount of works.