Q:Occasionally we offer incentives to buyers to move in before the property is actually finished. Practical completion then takes place after legal completion. Is it true that we no longer be able to do this?

April 1, 2003
Yes. From April 1 2003 lenders will not release the mortgage funds for a new property until the buyer&’s conveyancers receive confirmation in the form of a cover note that the property has received a satisfactory final inspection, and that a full new home warranty will be in place on or before legal completion. It is envisaged that immediately after …

Continue reading

To continue reading this article please login or register.

Login

Forgot your password?

Register for free

Quick and free registration

Register