1

Initial enquiry

Register your interest in one of our properties and we will email you the relevant information. You can contact our team on sales@newlon.org.uk or 0207 613 7480 if you would like more details.

2

Application form and financial assessment

You must complete our application form and a financial assessment with an approved Independent Financial Adviser. Once we receive this, we will contact you to arrange a viewing or invite you to a launch event.

3

Expression of Interest/Reservation

When attending a new homes launch event or viewing, you will have the opportunity to complete an Expression of Interest Form and pay a reservation fee of £500.

4

Offer of a property

Once you’ve paid your reservation fee, we will review your application and request final sign off from a financial adviser then we will contact you to make a formal offer. 

The formal offer letter will confirm the details of the property offered together with a Confirmation of Acceptance Form. You will have five working days to complete and return this form confirming you wish to proceed. This period gives you the opportunity to investigate legal and mortgage costs, appoint a solicitor to act on your behalf and to make your mortgage application.

Upon receipt of your Confirmation of Acceptance Form, we will produce a Memorandum of Sale (MoS) and instruct solicitors.  

5

Memorandum of Sale (MoS)

This document outlines the basic terms of your proposed purchase. It is issued to both sets of solicitors and your mortgage adviser/lender (you will also receive a copy)

6

Mortgage offer 

Your financial adviser/mortgage broker will arrange for a valuation of the property you’re purchasing. This is carried out on behalf of your mortgage lender, after which you should receive your mortgage offer. Your mortgage offer will be sent to your solicitor, who will forward to Newlon’s solicitor for approval. Your solicitor will then ask you to pay a deposit of 5% of the equity share you are purchasing.

7

Exchange 

Once you have paid your deposit and signed your contract, exchange of contracts can take place. You are then legally bound to buy your home and Newlon are legally bound to sell it. 

8

Completion 

Completion is the date when the money is exchanged via solicitors, and we meet you at your new home for a brief familiarisation session and the handover of your keys.