Solicitors

Welcome to the Solicitors Page.
 
This page contains information about timescales, document templates and FAQ’s.
 
Timescales for issuing out documentation

Authority to Proceed – 4 Working Days

Authority to Exchange – 3 Working Days

Authority to Complete – 2 Working Days

DOCUMENTS WE REQUIRE BEFORE EXCHANGE

Completed Form 1, Copy of the Mortgage Offer, Valuation Report and CML Form.
You must not exchange until we issue out an Authority to Exchange.

DOCUMENTS WE REQUIRE BEFORE EXCHANGE

Completed Form 2 and Certificate of Title
You must not complete until we issue out an Authoirty to Complete.
 

USEFUL DOWNLOADS

The solicitors pack includes all of the information about the scheme, undertakings and guidance on how to fill the forms out. The templates below are what we require completing at different stages of the process.

Download The Solicitors Pack here

Form 1 Template

Form 2 Template

 
FAQS 

We are acting for a buyer but have yet to receive their approval documents?

We will always send the documentation out to the solicitor that has been listed on the Property Information Form. If you haven’t received the documents then please get in touch and we can look in to the case for you.

We have a contact list set up for solicitors so if there is a generic email you would prefer documents to go to then please let us know. 
 
Where do the Equity Loan funds come from?

The equity loan funds are released through the Investment Management System (IMS) and will go to the bank account that is set up by the developer when they apply for Help to Buy. To ensure funds are received on completion we advise that there is a 12 working day gap between exchange and completion.

The valuation price has come back at lower than the selling price, can we still proceed?

No. We will not allow a case to proceed if it has been valued at less than the Full Purchase Price. The property would have to be either re-valued or the builder lower the price.


How long is the Authority to Proceed valid for?

The Authority to Proceed is valid for 3 months. Within this period of time we would expect to have received the pre exchange documents, issued out an Authority to Exchange and for Exchange of Contracts to have taken place.

Where do the equity loan funds get sent to?

When a developer registers for Help to Buy they have to provide bank details of where they want the equity loan funds to go to. The funds will be sent to that bank account.

The figures on the mortgage offer don’t match the Authority to Proceed on file, what do I need to do?

The figures that are on the Authority to Proceed are the figures that we gave the applicant(s) approval on. If the figures do differ then we will need to issue out an amended Authority to Proceed. In order for us to do so, we will have to run the new figures through our Affordability Calculator so there is no guarantee that the figures will be amended.

What is a CEF?

This is a confirmation of exchange form, it will be sent out with the Authority to Exchange. We expect the form to be completed and sent back to us within 2 working days from when exchange takes place. 

My client has a Help to Buy ISA, how do I claim the funds for them?
 
The Help to Buy ISA is a separate product to the Help to Buy Equity Loan and is dealt directly between Homes England and the mortgage lender. For more information please visit: https://www.helptobuyisaadmin.org.uk/conveyancers/the-scheme

Once exchanged, how long do we have to complete?

6 months from when exchange took place. If it doesn’t take place within this period of time then the house builder will need to contact Homes England to request an extension.
For anymore queries you may have then please feel free to contact us at admin@helptobuyneyh.co.uk or on 0113 825 6888