Section 104 / 38 a legal requirement to complete mortgage?

jessnat995 · 23 May 2017 at 9:34PM

Hi.

Could anyone please share any information.
I am still yet again waiting for paperwork to go to my solicitor regarding the 104 / 38 agreement.

My question is,

Is this a LEGAL requirement to complete on our house?(only paper work we require)

This has now been going on for months and delaying us.

If anyone could give an answer i would be very grateful

J.

Thrugelmir · 23 May 2017 at 9:48PM

jessnat995 wrote: »

Is this a LEGAL requirement to complete on our house?(only paper work we require)

You don't require it. Your lender does. While it may only be paperwork it's extremely important. Who is your developer? Local or a PLC outfit.

jessnat995 · 23 May 2017 at 9:56PM

I know I don't need it! It was a term I just used.

My developer is a small company.

I'm wondering if the lender requires it or can it be overridden by my preference?

Section 104 / 38 a legal requirement to complete mortgage?

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