A developer's letter with a date in it
A buyer reserves a plot on a new development. The developer's solicitors send the contract pack with a covering letter: exchange is required within a set period or the reservation may be cancelled. The mortgage offer is not in yet, the plot's planning documents are part of a large shared pack, and the case handler has six other plots on the same development with slightly different dates.
Months later, the developer serves notice that the property is ready and completion is due within the notice period. The buyer's mortgage offer is close to expiring.
Why new build files are hard to track
New builds add dates that do not exist on other purchases: the reservation expiry, the developer's exchange deadline, the anticipated completion window, the notice to complete, and the long-stop date. They are set by the developer and vary by development and plot.
Files for the same development share most of their documents: planning, estate plans, road and sewer agreements, the developer's standard enquiries. Each case handler may review the same pack separately, and a point spotted on one file may not reach another.
| New build date | Why it matters |
|---|---|
| Reservation expiry | Reservation can lapse if exchange is not reached |
| Developer's exchange deadline | Set in the developer's letter, easy to miss |
| Anticipated completion window | Drives the mortgage offer timeline |
| Notice to complete | Short period once the property is ready |
| Long-stop date | Relevant if the build is delayed |
What a missed new build date costs
A missed exchange deadline can put the buyer's reservation at risk. A mortgage offer that expires before the build is finished causes a scramble at the worst moment. Reviewing the same development pack many times over wastes case handler time and risks inconsistent reports to buyers on the same development.
Developers also notice which firms keep to their timetable, which matters if you want to be recommended to their buyers.
How we build new build tracking
- Development record: each development has one record with the developer's solicitors, the shared pack and its documents, and the standard terms.
- Shared review: the development pack is reviewed once by a nominated case handler, and their notes are shared with every file on that development. Plot-specific documents are reviewed on each file.
- Plot deadlines: the reservation and developer's letter for each plot are read, and the exchange deadline and any other dates are set on the file with reminders.
- Mortgage offer watch: the anticipated completion window is compared with the mortgage offer expiry, and files at risk are flagged early.
- Notice to complete: when the developer serves notice, it is logged on the file with the completion date, and the file's pre-completion steps are listed.
- Development view: the team sees all plots on a development, their stages and deadlines, in one list.
What new build work looks like afterwards
Every plot's deadlines are set from the developer's letters, not remembered. The shared pack is reviewed once and the notes reach every file. Mortgage offers at risk of expiring are spotted while there is still time. When a development releases many plots at once, the team can see the whole picture.
Buyers on the same development get consistent reports.
Do you handle new builds like this?
- Developer exchange deadlines are tracked by hand on each file.
- The same development pack is reviewed separately by several case handlers.
- Mortgage offers expire before build completion.
- Notices to complete arrive and cause a rush.
- Nobody can see all plots on a development together.