Frequently Asked Questions



Q: How is it I can save money and have more choice by choosing a Custom Build option?

quoteBy paying us for the land, and then paying for the construction in stages as the work proceeds, we don’t need to borrow as much money from the banks, we work on smaller profit margins as there is less risk and we spend less money on marketing and showhomes; we can then pass this benefit onto you. We can also offer a range of different house designs to choose from. You can visit any of our current developments to see the choice of house designs.

 

Q: How much stamp duty do I pay?

quoteYou will only pay Stamp Duty Land Tax on the cost of the land, not on the total building contract; giving you a fantastic saving on your new home and leaving you with the spare cash to fit out the interior as you wish.
- zero stamp duty on land up to £125,000
- just 1% stamp duty on land between £125,000 and £250,000

 

Q: Can I get a self-build mortgage?

quoteYes, subject to status, you should be able to arrange a 'Stage Release' Mortgage. It’s important that you use a specialist broker who is an expert in this field; we will assist you with this and introduce you to a specialist broker who deals directly in the self build marketplace.

 

Q: Is there a downside?

quoteThere is no downside however you do have to have available funds to proceed, either as cash or as a 'Stage Relief Mortgage'.

 

Q: Can I buy the plot and employ my own builder or build myself?

quoteOn every plot we build to a 'shell' or 'watertight' stage. This ensures each home is built to industry regulations and within health & safety requirements. After this you are welcome to fit out your home to your own specification, employing different contractors, however we are also happy to do this for you.

 

Q: Will I have a warranty on my Custom Build new home?

quoteYes, an independent warranty will be provided for all work carried out by Fairgrove Homes. If you take over the finishing of your new home after the home has been built, you would need to take over the warranty as well and there may be an additional charge for this from the new provider. The main warranty providers are NHBC, Premier Guarantee and Checkmate.

 

Q: Will I have to pay VAT on the construction cost?

quoteNo, in most cases there will be no VAT to pay. VAT is only payable on refurbishment construction work, not on new homes. If you take over the finishing of your new home you can register for VAT as a self-builder to reclaim the VAT on materials. More information is available at www.hmrc.gov.uk. Search for form 431NB.

 

Q: Will I be responsible for extra costs if there are delays due to bad weather?

quoteNo, we will not charge you extra for weather related delays, but you will be responsible for any additional costs you incur related to changes to the house design.

 

Q: Will I be able to inspect construction work on site?

quoteYes, we can arrange an appointment for you to inspect the work on site, and we will also arrange a monthly meeting with you to keep a check on the progress of your new home. We recommend pre-agreed appointments as we have to adhere to strict health & safety regulations on-site.

 

Q: How will I know when my house will be finished?

quoteThe build programme will be reviewed at each monthly meeting. Initially we will forecast the month of completion, and as it gets nearer we will confirm the exact date.

 

We are happy to discuss any questions or concerns you may have relating to a new Custom Build home. Contact us to discuss your requirements.