Readers put their property questions to our guest panel of experts:
solicitors, mortgage advisers, property gurus and shared ownership providers
First home, first worries: what your New Build Warranty really covers
I’m buying a new build flat through the First Homes scheme, but I keep hearing worrying stories about defects. What exactly does the warranty protect me from, and how long does the cover really last?
Maisie Edwards, Coventry
The shine of a new build can fade quickly if the boiler packs in during January or the balcony doors refuse to slide. That is why the warranty is not just paperwork in the drawer but your financial safety net.
Most new builds in the UK are covered either by NHBC Buildmark or LABC Warranty (other warranty providers exist), both of which run for 10 years. The first two years are crucial: during this time the developer is responsible for fixing almost all defects, from leaky taps and faulty wiring to windows that do not shut properly. After that, the cover narrows to major structural problems only, such as unstable foundations or a roof that lets in water.
Where many buyers slip up is in assuming all issues are automatically included. In reality, the clock starts ticking the day you move in, and strict deadlines for reporting defects mean that problems must be raised promptly. Miss them and you may have to shoulder the costs yourself.
This is why experienced buyers often commission a snagging survey before moving in. An independent inspector can highlight everything from cracked tiles to ill-fitted doors, giving you a checklist for the builder to put right while it is still their responsibility. Without this, you risk months of chasing repairs that could have been resolved from day one.
It is also worth confirming that your developer is properly registered with the warranty provider. If a builder goes bust, the policy is designed to step in, providing reassurance that you are not left stranded. With the Building Safety Act reshaping obligations, the direction of travel is towards stronger protections for new homeowners.
So treat the warranty with the same care as your mortgage. Know who provides it, understand its limits, and keep good records of any issues. Done right, it should give you confidence to settle into your first home without looking over your shoulder.
Jeremy Marcus
Guidance on websites
Do property websites include explanations or step-by-step guidance that make it easier for people who haven’t bought a home before?
James Armstrong, Enfield
The short answer is yes, absolutely. Property websites are designed to be accessible to all types of buyers, from young first time buyers to older downsizers who may not have as much tech experience. Most property portals have a first time buyer hub, where you can find informative guides to buying your first property, including advice on saving, budgeting, Stamp Duty and all of the “hidden” fees of homebuying explained.
If you’re buying new, most new build developers also have handy tools on their websites that help explain the buying process to first time buyers, such as step-by-step blogs, guides to buying schemes such as Shared Ownership and mortgage calculators.
A relatively new feature that we’re seeing many developers now integrating into their websites is a live chat. Similar to many other industries, this function allows visitors to the website to ask a question to a chat bot and get an immediate answer. If you’re looking for specific information on the homebuying process, give the live chat a go. It will either give you an answer, direct you to a page on the website that should answer your query, or provide you with contact details of a real person in the sales team who will be able to help. It’s definitely a great one to try!
You could also take a look at social media if you’re wanting accessible, easily-digestible information. Many developers and property portals post engaging content such as infographics and real-life buyer stories that you can watch to find out more about buying with that particular developer.
I’d personally recommend TikTok as a brilliant way to get information on buying a home too. If you’re better at taking in information from a video rather than reading lots of text, you can find hundreds of videos from real people who have recently bought or are currently buying their first home.
Clive Lewzey
Help from parents
I am a first time buyer and my parents want to help – what are the options please?
Siobhan Taylor, Brentwood
A Rising house prices and higher deposit requirements mean many first time buyers turn to the “Bank of Mum and Dad” for support. According to Savills, in 2024 parents gifted or loaned a total of £9.6bn to first time buyers. That support reached 173,500 buyers – around 52% of all first time buyers.
How can parents help?
The most common option is a gifted deposit – money given outright to boost savings. This can unlock cheaper mortgage deals and lower monthly repayments. Most lenders will accept a gifted deposit, but they’ll usually want written confirmation that it’s a true gift, not a loan. Parents should also consider inheritance tax rules: each parent can give £3,000 a year tax-free, while larger gifts only fall outside inheritance tax if the giver survives seven years. A deed of trust can help protect a gift if the buyer is purchasing with a partner.
If gifting isn’t possible, parents may lend the money instead. A formal loan agreement should cover repayment terms, but be aware that lenders often count repayments as an outgoing, which can reduce borrowing power.
Parents might also raise funds by releasing equity from their own home through a retirement interest-only mortgage. Other specialist products include:
Guarantor mortgages, where parents use their savings or property as security
Family offset mortgages, which link savings to reduce interest
Joint mortgages, combining incomes (though this can trigger extra Stamp Duty)
Joint Borrower, Sole Proprietor mortgages, where parents share responsibility for the mortgage but not ownership of the property.
Don’t forget the legal paperwork
Whenever money changes hands, it’s important to get the paperwork right. Solicitors will usually ask for proof of funds and written confirmation of whether money is a gift or a loan. If you are buying with a partner or friend, a deed of trust can make clear who the gift was intended for and what happens if circumstances change. Parents may also want to update their Wills to reflect large gifts, while first time buyers should consider writing one too.
The bottom line
The Bank of Mum and Dad is often the key to unlocking that first home – but everyone needs to understand the options, protections and long-term implications. You can find details on all your options, pros and cons of each, and more free expert guidance at hoa.org.uk.
Paula Higgins
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
