At which point should I complete my Investor Declaration form?

eddiejones

Sorry, I am sure this sort of thing has been covered somewhere but I did do a quick search and uncovered nothing specific.

So I've had an offer accepted, and (am about to) have a solicitor.

Looking at https://www.skipton.co.uk/mortgages/first-time-buyers/using-your-lifetime-isa, I need to fill in the Investor Declaration form and give that to my solicitor. Who will then fill in their form and send both off to Skipton. Who will then take some time to transfer the money.

My question is. At what point should I fill this form in? Now? After a survey has been done? I am thinking I should try and get the ball rolling ASAP.

Also, there's a field where you state how much you want to withdraw. My balance could go up between now and when the form makes it to Skipton.... Do I just put the balance as it is now, and assume something sensible will happen?

Alexland

It's such a quick job its not going to make any difference to your timeline. One you have a solicitor you will explain how you intend to pay for the property, they will complete the searches and tell you when they need the form to draw the money.

Alex

eddiejones

Thanks. I was looking on Skipton's page and it was talking about 'up to 30 days' but maybe that is worse case, or I was reading lazily (definitely possible!).

Alexland

eddiejones wrote: »

Thanks. I was looking on Skipton's page and it was talking about 'up to 30 days' but maybe that is worse case, or I was reading lazily (definitely possible!).

Yup sounds about right. Buying a property usually takes several months plus. The longest one we had was our current house which took around 6 months. We have not had any take less than 3 months.

Alex