Reservation & Exchange
Overview
From Reservation to Successful Completion
We provide a clear, step-by-step guide to help you secure your property investment efficiently and confidently. Understanding the process from reservation through to completion gives you full control and peace of mind.
Step by Step
The Purchase Process
01
Reservation
Once you've chosen your property, the first step is to complete a reservation form and pay a reservation fee (typically £2,000–£5,000). This removes the unit from the market and fixes the purchase price.
Documents typically required:
- Passport / ID
- Proof of Address (utility bill or bank statement)
02
Legal Process
Your solicitor is instructed to handle all legal aspects. They will:
- Review the draft contract and lease
- Raise enquiries about the property, title, or planning
- Conduct necessary local authority searches
This process usually takes 21–28 days.
03
Exchange of Contracts
Once your solicitor is satisfied, you will sign the contract and transfer your deposit (minus the reservation fee already paid).
Key points:
- At this stage, the purchase becomes legally binding
- Deposit: Typically, 20–30% of the purchase price
- Note: Deposit protection may vary depending on the developer and your solicitor's arrangements
04
Completion
Upon completion of the build, the remaining balance (mortgage + cash) is transferred. You then legally own the property and receive the keys.
Benefits
Why Follow This Process?
Secure & Binding
Ensures your purchase is secure and legally binding
Investment Protection
Protects your deposit and investment
Transparency
Provides transparency and peace of mind throughout the purchase