LISA - when to submit conveyancer /investor declaration forms?

Arghbloodyhouse

I've been ready to complete on my house for six weeks but we've been held up by local searches further up the chain.

I just tonight saw online about the conveyancer /investor declaration forms and read up about them and it says the following two things on my bank (Skipton) :

1. The forms must be sent 30 days before completion

2. If the forms do not include a completion date, we will release funds 30 days after submission.

3. The money can be used only within 90 days of it having been released

My solicitor has not mentioned these forms although she does know I'm using a LISA. 

I'm confused! 

Does it mean that it will take 30 days for funds to release regardless of whether you know your completion date?

Or does it mean you need to submit at least 30 days before expected completion **unless** you know your completion date, in which case it can be done more quickly?

Should I instruct my solicitor to do this ASAP? Or do I wait to know a completion date? My solicitor has not advised me or anyone else in the chain that there would be a 30 day wait from our side.

Tomdarkness

I'm currently in the process of buying a house with a Skipton LISA and my solicitor sent me the investor declaration form to complete literally days after I instructed them, even before they'd carried out any searches. They said they wanted it early for exactly the reason you said, Skipton say it can take up to 30 days to send the funds.

I'd get on to your solicitor to inquire about this. Also you need to send the investor declaration to your conveyancer, not direct to Skipton.

SamualGangee

I've just bought a house and used my Skipton LISA. I believe Skipton say that it can take up to 30 days (I guess to  cover themselves). However when I did mine it took 4 days to have the money released. If you think your completion date is less than 30 days away I would get it done asap

shaunad93

I'm also in the process (you may have even seen the house thread where I asked about it).  It sounds like I'm in the exact same scenario as you, been advised everything my end is complete but waiting on things further up the chain and also that my solicitor knows I'm using a Skipton LISA but hasn't mentioned the forms either.  As soon as I discovered what forms were needed (only yesterday), I printed my own as well as the one the solicitor needs to do and plan on taking them to the solicitor and delivering by hand. I don't have much faith in my solicitor firm to be honest hence printing their version too.  I'm confused when they apply, ideally I'd love them to request my funds now so I know it's done and in the process but equally know if it's not done in 90 days then they have to request an extension, something I'm sure my solicitor won't want to do.  It's nice to know from SumalGangee that theirs only took 4 days though as I too was starting to worry that my solicitor would only request my deposit when ready to complete and then this would delay things by a further 30 days.