UK Finance disclosure of incentives form?

onthemend88

Our application has gone in with Precise and I am looking at their document checklist and because we are buying a new build, we need a UK Finance disclosure of incentives form. 

Do I just need to give this to our builder to complete and then forward it on to our Broker? 

kingstreet

No. The builder will already have done it and should have it ready for the surveyor ahead of the valuation. Your broker should have asked the builder for a copy when they obtained a copy of the reservation.

onthemend88

Thanks @kingstreet

I have just emailed the builder to ask for it because we didn't get one when we completed the reservation form. We didnt need to give the reservation form to our broker either

Dont know if it is because it is a smaller, local builder/developer (i.e. not companies like taylor wimpey, redrow etc) that we are going through whether it makes a difference? 

kingstreet

It doesn't. There is always a reservation and always a UKFD form. If your broker doesn't have a copy of the reservation, how does he know the anticipated legal completion date, any ground rent/service charge etc? The reservation and UKFD also show cash and non-cash incentives which are an issue for many lenders and you might avoid some lenders based on the incentives negotiated.

onthemend88

Thanks @kingstreet, builder has emailed me back and is on the case with it now so will hopefully get it sorted soon, might just delay the progress of the mortgage application.