Nationwide and incentives

Sheep

When do Nationwide ask whether I have any incentives included in my new build purchase?

I completed the application online and put the year built as 2015. I got an email asking me to send in docs which have been reviewed and passed. Phone call from Nationwide today to say valuation has been instructed but it has just hit me that they have never asked if aby incentives were included and it never asked during the full application online. The incentives are legal fee's, stamp duty, carpets and fitted wardrobes. All these come way below 5% of the house value and i know thats the magic number with alot of lenders.

Does anyone know when Nationwide ask for this info?

Thanks

kingstreet

They don't ask you.

The surveyor is given the CML form by the site at the valuation. This contains the full property/site and incentive information required.

Sheep

Thank you Kingstreet.

mesut_sanchez

I am in a similar situation with the Halifax. I am purchasing a new build flat that was built this year but no one has lived in. Therefore I am buying from the vendors.

I had the valuation done by Colleye's last week but they will not release the valuation report to Halifax until a CML disclousre of incentive form has been completed by the seller. The purchase has no incentives such as stamp duty, legal fees etc.

Can I assume the mortgage will be approved once the seller has completed the form for colleye's?

cakeforbrains

http://www.nationwide-intermediary.co.uk/lendingcriteria/schemes/equity_share_schemes#help_to_buy

This says it's 5%