If you are purchasing a new build property with the aid of the government help to buy scheme, please read the following guide and supply the documentation requested in this checklist.
At any early stage, you must liaise with your mortgage broker with the Help to Buy process. They will complete various documents as well as the main application. You will need to provide your reservation form and a completed PIF (a special HTB form) to submit your application and this should be submitted as soon as possible.
Help to Buy will issue as Authority to Proceed: confirmation that the Developer has allocated funding available and that you have qualified to be accepted for the Help to Buy scheme.
The legal formalities in your transaction will usually begin and (if not already done so) the developers’ solicitors will provide us with the plot contract documentation to enable us to report to you and detail the next steps for you to take as we work towards exchange.
We must also be in receipt of your mortgage offer. This is something your broker / financial advisor will be dealing with on your behalf and you should liaise with them to ensure this is being dealt with as quickly as possible.
Once we are in receipt of the Authority to Proceed, the documents below and the mortgage offer (as well as completing the other legal formalities), we will then need to apply for the Authority to Exchange to allow us to proceed to exchange. This can take several days to obtain and is ecessary to commit you to exchange of contracts.
Help to Buy are exacting in their standards and requirements. Even the most minor errors in the Authority to Proceed (for example, spelling errors in your details or the property address which must exactly reflect the reservation form) could cause delays later as this may need to be reissued. It is important you provide your broker/financial advisor with accurate information and check the Authority to Proceed carefully.
With this in mind, we ask that you supply us with additional documentation so that we can comply with the Help to Buy Requirements.
Checklist
Certified copies of your identification
- Certified copy of your valid full passport; or a valid HM Forces identity card with signatory’s photograph; or a valid UK photo-card drivers licence AND
- A utility bill in your name no less than three months old.
You have various options in relation to the certified copy of your documents;
- Attend a Blaser Mills Law office at a mutually convenient time (and by appointment only). We charge £35 plus VAT per person for this service.
- Attend at a local firm of solicitors to you and have your ID certified. Please note there may be a charge for this service.
Unfortunately, this is an additional step required by Help to Buy, and we cannot rely upon your Credas checks carried out as part of the firm’s AML policies and procedures. Help to Buy are very strict with their requirements.
Source of Funds
We will need to supply certified copies of the documents which make up the source of the funds required for your purchase. Help to Buy ask for this. We refer you to our source of funds questionnaire for further information. Generally speaking Help to Buy will be looking for bank statements showing the funds being available from the relevant source, wherever possible. If you are unsure as to what to provide here, please contact a member of the team to discuss in the first instance. Please ensure that the documents supplied are certified. This can be done as above.
First Time Buyers Declaration
At the same time as the Authority to Proceed is issued, Help to Buy will produce a First Time Buyers Declaration for you each to sign and return. This will be sent to you by us and should be signed and returned as quickly as possible. This declaration sets out and confirms your eligibility for the Help to Buy scheme.
Mortgage Valuation
Please ensure that you send us a copy of your mortgage valuation as soon as it is available so that we can supply the same to Help to Buy. Blaser Mills Law are legal experts and have a dedicated New Homes Team who can guide you through this daunting process. There is a great deal of paperwork that you will be asked to read and sign. We can assist you with any queries or concerns that you may have.
Law Society’s Conveyancing Quality Scheme
All those in Blaser Mills’ Residential Property team are members of the Law Society’s Conveyancing Quality Scheme, the mark of excellence for the home-buying process. The rigorous assessment by the Law Society, in order to secure CQS status, marks us out as a team that consistently meets high standards in residential conveyancing processes and also delivers excellent customer service.
Contact us
We understand the importance of working proactively to complete transactions as quickly as possible and stay by your side through your sale or purchase to make sure that you are kept informed of progress.
To speak to one of our expert property solicitors, contact Shabina Hussain on +44 (0) 203 814 2020, email shh@blasermills.co.uk or fill in our contact form.