Reaching handover on an off-plan purchase is exciting, but a few careful steps protect your investment before the final mortgage drawdown. Snagging and completion checks ensure you receive the property in the condition you paid for.
What is snagging?
Snagging is a detailed inspection of your completed unit to identify defects — from finishes and fittings to plumbing and electrical issues. Many buyers appoint a professional snagging company to produce a report the developer must address before you take possession.
Aligning mortgage drawdown with handover
For off-plan purchases, the mortgage typically disburses around completion and handover. Coordinate timelines so your financing, developer completion notice, and DLD registration align. Confirm your pre-approval remains valid and your final loan terms are ready as handover approaches.
Protecting your investment
Complete your snagging inspection, ensure defects are rectified, verify utility connections, and confirm the title transfer process before final payment. Getting these steps right means your mortgage funds a property that fully meets expectations.