Can a developer hike the price of a new build at the last mi

Can a developer hike the price of a new build at the last minute?


I was hunting for a new home and had my heart set on a new build. Having been on several viewings, I found a two-bedroom house on a new development being built by a big household name firm which I wanted to make an offer on.
The price of this home was advertised as £320,000, and I confirmed this with the developer's representative at the viewing and in a subsequent conversation. 
Shortly afterwards, when the day came to pay a reservation fee to secure the home, the person I then spoke to informed me the price had risen £5,000.
When I queried this, they said that I could afford the increase based on a financial qualification check that I had done. Later in the conversation, they told me that another buyer was about to reserve the home anyway.

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