Buying new build, made clearer.

A new build is a home that has been newly built and not lived in before. You can buy one off-plan, while it's still being built, or once it's finished.

The main differences are the reservation process, the build timetable, the warranty and the incentives developers can offer. You still need a solicitor and, usually, a mortgage.

It's a payment that takes a plot off the market while your solicitor and mortgage are arranged. Whether it's refundable, and when, depends on the reservation agreement, so read it before you pay.

Some developers offer to cover all or part of it on selected plots, usually as a contribution at completion. The offer's conditions vary, so confirm them in writing.

The developer buys your current home so you can move without selling it on the open market. The price is usually below open-market value, so compare it with an independent valuation.

Most come with a structural warranty, often for around ten years, from providers such as NHBC. The cover and its length differ, so ask for the details of the specific home.

Many new houses are freehold. New long leases for flats in England and Wales generally can't charge a financial ground rent, but service charges still apply, so ask for the full running costs.

No. Our guides and tools are general information to help you ask better questions. Speak to a qualified mortgage adviser and solicitor about your own situation.