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Completion question
exotictramp
Posts: 28 Forumite
When you complete and get your keys, do your mortgage and insurance payments start then?
for information we are FTB moving in to a new build property, currently renting. If for any reason we cant complete on the legal completion date, are we able to arrange with the developer to move in later ?
for information we are FTB moving in to a new build property, currently renting. If for any reason we cant complete on the legal completion date, are we able to arrange with the developer to move in later ?
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Comments
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Yes. Payments will begin just after legal completion.
The builder's solicitor will give notice to your solicitor and you will have to complete when the notice ends, normally within two weeks.
You can move in any time after that, but you won't be able to change the completion date once notice is given, assuming you've already exchanged contracts.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 -
we have not exchanged yet, we may be exchanging sunday but waiting on solicitors.
is it possible to agree on a completion date with the developer at exchnage of contracts?0 -
Yes, if the property is completely finished.
If it remains unfinished, completion will be "on notice."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 -
thanks for your help.0
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