New Build Property Department Plans for 2018
Our New Build Property Department is looking forward to another busy year. With the upturn in New Build property purchases continuing last year, we are receiving increasing numbers of instructions from both purchasers and developers, seeking our specialist help in this field.
Government schemes help the New Build sector
The Government has done much to help improve the New Build sector, particularly with first time buyers. Schemes such as Help to Buy have kick-started the market for those struggling to get on the property ladder, but what about construction and development? In fairness, the Government are trying to help that side of the market too. Schemes such as the Starter Homes Fund, Housing Zones and Get Britain Building are all aimed at stimulating development plans in the industry.
With the construction industry being a huge employer in the UK, these kind of schemes can have a cumulative effect on the economy, also alleviating housing shortages and creating regeneration to improve the local infrastructure too. As a result, jobs will be created as brick layers, electricians, joiners, carpet fitters, roofers, all trades in fact, are in demand.
The New Build property sector therefore looks set to continue its influence on the economy and development plans in 2018.
The New Build Property Department at Ison Harrison
The team at Ison Harrison are very much prepared for an increase in New Build property demand to continue. Headed up by Jenny Bland, we have a 20-strong team of New Build conveyancing experts who all excel in what is a specialist legal field. Jenny is well known and respected in the New Build property sector, having worked with both purchasers and developers for many years.
New Build property conveyancing can become more complex than being involved in a more traditional property chain, as you are typically buying a plot from a developer who owns the whole site. There are often strict deadlines involved in exchange and completion and also detailed warranty schemes. We also deal with planning permission, building regulations and permissions for estate roads, sewers and drainage.
Within our team we have specialist Part-Exchange conveyancers, dealing with onward purchases for individuals buying properties that have been bought by builders by way of part exchange and are subsequently being sold on. They are effectively residential properties but with a New Build twist. The nature of the Contract may mean that the completion date is on notice rather than a traditional fixed completion date. There are other intricacies which mean that a New Build Conveyancer is best placed to deal with such contracts. We are one of very few law firms that offer such a specialist service.
The vast majority of housing schemes come from private enterprise, with a much smaller proportion coming via housing associations and local authorities. We are recommended to buyers by House Builders, Housing Associations and New Build Mortgage brokers all of whom recommend us based on service alone and not because we pay them any kind of referral fee.
The department dealt with over 2000 New Build Property instructions in 2017 and are well placed to expect a similarly busy year ahead.
If you have any queries relating to this article, please call our friendly team on 0113 284 5000.
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