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Disclosure of incentives... affecting mortgage offer?
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vs747221
Posts: 25 Forumite
Hi,
I am close to exchange and completion of a new build property.
( i already have mortgage offer etc)
My solicitor mentioned that we need to send a disclosure of incentives form off to my lender before exchange as they developer is now paying my stamp duty - this was agreed after offer and after valuation - so was not aware when i applied for mortgage.
I am just wondering if this is ever a problem or could cause any issues with my mortgage offer? The house price is the same and the property came upto valuation...
Help much appreciated
I am close to exchange and completion of a new build property.
( i already have mortgage offer etc)
My solicitor mentioned that we need to send a disclosure of incentives form off to my lender before exchange as they developer is now paying my stamp duty - this was agreed after offer and after valuation - so was not aware when i applied for mortgage.
I am just wondering if this is ever a problem or could cause any issues with my mortgage offer? The house price is the same and the property came upto valuation...
Help much appreciated
0
Comments
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I don't think stamp duty will be a problem. If it was becoming a builder gifted deposit case they might have a concern.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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