Home Buying Process

  • Can I reserve a property before it is released for sale?

    Yes, get in touch with our sales team to find out if your preferred property is on a pre-release list.

  • How do I reserve a new home?

    Speak to our experienced sales team who will be able to let you know of available plots and prices and they’ll ask you a few questions to ensure you’re in the best position to reserve the home of your choice.

    On reservation we will require our filled in reservation form (which our team will provide) a Mortgage Agreement in Principal (AIP) which is obtained through your own mortgage adviser or via our recommended independent advisers and, a £1,000 refundable reservation fee*.

    Once your home is reserved it will be withdrawn from sale and will not be subject to any price increases.

    After you have appointed your solicitor we’ll ask you to exchange contracts and pay a standard deposit of 10% of the purchase price, less the reservation fee already paid this is usually around six weeks after reservation.

    * T&C’s apply ask sales adviser for more information.

  • How much is the reservation fee?

    We require £1,000 as a reservation fee on all properties.

  • How long is the reservation period?

    The property will normally be reserved for 6 weeks as this is when exchange of contracts is expected to take place.

    If you haven’t exchanged within at least 12 weeks and the legal process has not progressed, we reserve the right to re-market the property or increase the price.

  • Is my reservation fee refundable?

    Should you cancel your reservation then Albemarle Homes will retain a proportion of the reservation fee to cover reasonable costs and expenses, and the rest of the balance will be returned. This fee is payable at any point after the day of reservation.

  • What do I need to provide on reservation?

    We require one form of ID, such as Passport or Driving Licence and Proof of Address along with a copy of your mortgage AIP or confirmation from a broker that you are financially able to loan the required amount. You will also need to provide payment for the £1000 reservation fee.

  • Is there a waiting list for plots that are not released?

    Our sales team holds a list of first refusals who are interested in particular plots that are yet to be released so that all parties are informed when the plot is released for sale.

    You can also sign up to our newsletter for automatic updates by registering your details on our website.

Legal and Financial Questions Answered

  • What is a valuation survey?

    Your mortgage lender will have the property valued for mortgage purposes.

    Please be aware that the value the lender puts on the property is a valuation for loan purposes and may not reflect the open market value of the property. If you purchase optional extras for your new home, the full value of these may not be reflected in the value the lender puts on the property.

  • What is Stamp Duty?

    Stamp Duty Land Tax (SDLT) is payable on all homes over a certain purchase price in England.  Reduced rates apply from 23rd September 2022. The amount you will have to pay will be based upon the selling price of your home.

    Currently the scale charges (which apply regardless of whether you are buying your first home or have owned a property before) are as follows:

    • Nothing on the first £250,000 of the property price.
    • First time buyers pay no SDLT on purchases up to £425,000.
    • 5% payable from £250,001 – £925,000.
    • First time buyers pay 5% SDLT from £425,001 – £625,000.
    • Second home purchases pay 3% premium for valuations over £40,000.


    A first time buyer is someone who has never owned freehold or leasehold interest in a dwelling before and who is purchasing their only or main residence.  Residential property anywhere in the world is counted when determining whether someone is a first-time buyer.  Where there are joint purchasers, all purchasers would need to be first time buyers.

    NB – these figures are set by the Government, and are subject to change.

  • Are Albemarle Homes freehold or leasehold?

    All Albemarle properties are Freehold.

    Freehold means – full ownership of both the property and the land on which it stands

  • When does the house sale become legally binding?

    The house sale becomes legally binding on exchange of contracts. Your solicitor will arrange for you to sign a binding purchase contract. Your agreed deposit will need to be paid at this time.

    We will also sign a copy of the contract and send it to our solicitors.

    Exchange of contracts is to be within 6 weeks of contracts issued via our solicitor, which means to be able to reserve a property you will need to be in a position to proceed.

  • How much is the deposit?

    The deposit you will have to pay is 10% of the value of the property.  This is paid on exchange of contracts to our solicitor.

  • What are Local Authority Search Fees?

    Local Authority search fees establish if your new home will be affected by any possible planning decisions or other proposals that may arise.

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