Will I be compensated for the delay?

    We are not able to compensate for the delay. Unlike some private developers, as a social housing charity, we do not have a compensation contingency budget. These delays are unforeseen and have additional financial cost to us in order to complete these homes.

    Do I still need to exchange now?

    We still expect buyers to exchange on notice as agreed during your reservation. Exchanging on notice is a legal commitment from both seller & buyer.

    What are my options now?

    Please speak to your solicitor to discuss your options.

    My mortgage offer will expire, what should I do?

    Please speak to your mortgage advisor, if you have an expired mortgage offer, or an offer which is due to expire within the next month, please refrain from obtaining a new offer until we can provide our next update. 

    I’m currently in a rental property and need to give notice, when should I hand in my notice?

    Please refrain from handing in your notice until we can be confident with a move in date. 

    Will Southern Housing cover the stamp duty increase if the project is delayed past April 2025?

    The Government has announced that as of April 2025, the stamp duty land tax thresholds will change. The thresholds will vary based on individual circumstances. There will also be differences in the way buyers have elected to pay stamp duty that will determine whether any stamp duty is paid at the point of purchase. We will not cover any increased costs relating to stamp duty for this reason. 

    We advise you to consult with your solicitor for advice on whether your stamp duty cost will increase if there is a delay into April. The advice will depend on your individual circumstances and on how you have elected to pay.