fbpx

FAQS

All your frequently asked questions about WPV Homes answered.

Do I need to make an appointment to visit the show home or sales centre?

It is not necessary to make an appointment at the sales centre, however, if you wish to discuss something with our homes adviser in detail, we would recommend calling in advance to ensure the show home is not busy. You can also book an appointment via our get in touch page. Otherwise, please feel free to visit our sales centres anytime during opening hours.

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

Unfortunately, you are not able to reserve a property before it is released for sale. However, you can advise the onsite Homes Advisor of your interest in a particular plot. We can then let you know when the plot is released for Sale.

What is a mortgage?

Most people will take out a mortgage, or a loan in order to purchase their house. A mortgage is a loan that is secured on your home. It is a legal agreement by which a bank, building society or outside party lends money at interest in exchange for taking the title of the debtor’s property. There are many different types of mortgages available and you should speak to your Independent Financial Adviser (IFA) in order to discuss the best mortgage option for you.

What is the legal completion?

This is where ownership of the home passes across to the new owner. This may also sometimes be referred to as the ‘handover’.

What happens at an exchange of contracts?

At this point, the sale of your new home becomes legally binding to both parties. A deposit is payable and you should be well on your way toward completion of your new home.

Do I need to sell my home before I can reserve a WPV Home?

If you need to sell your home to finance a new WPV Home, you must sell your property before reserving. This ensures contracts can be exchanged within six weeks. If your home is not yet sold and you wish to buy a new build, we may assist; please speak with a sales advisor.

How do I reserve a new home?

To reserve your new home you must pay the reservation fee of £1,000 and fill in the reservation agreement which sets out the key terms of your home. This will withdraw your property from sale and will not be subject to any price increase. Once this fee has been paid your new home is reserved for 6 weeks before we expect to exchange contracts with you.

What do I do if I can't find a solicitor?

Here at WPV Homes, we work with an experienced panel of solicitors, so if you are struggling to find one, don’t hesitate to contact our sales team and they can send you in the right direction!

What is a mortgage valuation?

Prior to approving your mortgage application, your chosen lender will have your chosen property inspected and valued for mortgage purposes for a small fee. In most circumstances, your lender will insist on a survey before agreeing to give you a loan.

Please note that the value the lender puts on the property is a valuation for loan purposes only. The figure of this valuation may not be reflective of the open market value. You must also be aware that if you add additional extras to your home, the full value of these may not be reflected in the value the lender puts on the property.

Who are independent financial advisors/mortgage advisors?

These are professionals who will offer independent advice on financial matters to clients and would recommend the most suitable financial product to suit your individual needs.

What are land registry fees?

This fee is to register your ownership of your WPV Home with the Land Registry. The fees you must pay are set by the government.

What sort of warranty will you provide with my new home?

When you move with WPV Homes, your new home is protected by Advantage Home Construction Insurance (AHCI) which gives you a 10-year structural warranty as well as a 2-year fixture and fitting warranty as standard.

How long will our property be reserved for?

We will reserve your property for six weeks before we expect an exchange of contracts from you.

What is a freehold house?

There will be an additional cost to purchase a freehold house. If you make this payment when you first buy the house you will become the absolute owner of the property and the land that it is built on. No lease will ever arise which means you will not pay ground rent each year.

Is the property leasehold or freehold?

All of our properties are freehold – unless they are an apartment, these properties will be sold leasehold.

How do I reserve a new home?

After your reservation fee has been paid, your new home is reserved for six weeks before we expect to exchange contracts with you. Throughout this period, your new home will be withdrawn from sale and it will not be subject to an increase in price. The reservation fee and deposit are then deducted from the price of your home.