Reserving at Craggs View, Over Kellet
We released our newest development; Craggs View, Over Kellet in January 2022. We had a lot of interest even before this development was ‘officially’ released as people follow upcoming developments on the planning portal and news travels fast in a small place like Lancaster and Morecambe.
Over the past few months, we have been prospective buyers to register their interest via the website or by emailing info@fldl.co.uk. Since requesting this registration of interest we have had lots of questions regarding reservations and the process, so we have done an FAQ. Keep reading to find out everything you need to know.
Frequently Asked Questions (FAQs)
1. When will reservations for Craggs View open?
We are planning to open for reservations Monday 24th January 2022 10am for phase 1 (plots 1-17 and plot 22). If you have registered your details, you will be emailed this date directly.
We are planning to open for reservations Tuesday 29th March 2022 10am for phase 2 (plots 18-21). If you have registered your details, you will be emailed this date directly.
2. How will the reservation process work?
Our phone line and email will open at 10am on the nominated day and we will request information from you (see FAQ 4) to understand your reservation position. We will collate all this information from buyers in the first 24/48 hours from reservation opening and then return to buyers soon after with what plot we can offer you for reservation. After this plots will be reserved on a first come first basis. No plot is reserved until the reservation fee is paid and the paperwork is signed.
3. What position do I have to be in to reserve a plot?
It is important you only reserve a plot if you can exchange contracts with us by the required date for your chosen plot. We would expect to exchange on a plot as a minimum 12 weeks before completion, this can be sooner though. The completion month for each plot can be found on the Craggs View page.
Exchanging contracts on a property is done via a solicitor and makes the deal between selling and buying homes legally binding, see question FAQ 4 for what you need on reservation day to know you are position to exchange by the required date. We advise that you contact your solicitor for guidance on exchanging if required. You will be required to have a 10% of the house price deposit available at exchange. As per FAQ 4 we may ask for proof of these funds at reservation.
4. What information do I need to reserve?
Firstly, you need to have in mind what plot number you would like to reserve. As we have had a high level of interest, we recommend having a first and second choice in case your chosen plot is not available. We have several plots of the same house type so hopefully we can accommodate you.
You will need the following details ready to complete a reservation agreement form:
- Yours, and other buyers if more than one person is buying, address and contact details
- Your nominated solicitors’ details who are going to act on your behalf, they need to be appointed to act on your behalf
- Your mortgage / finance agreement in principle for the value of the plot and deposit e.g., proof of mortgage offer, proof of deposit or proof of funds if not mortgaging.
- Confirmation that you can exchange by the required date through one of the following;
- You are a first-time buyer and have a solicitor and funding agreement in place
- You have no house to sell (e.g. already sold and in rented) and have a solicitor and funding / a funding agreement in place
- You have accepted an offer on your house but have not yet completed but have exchanged and have a completion date within the required timescales and have a solicitor and funding agreement in place
Please note if you have not yet exchanged on your house (if you are in a chain) or your house is still on the market / not yet on the market we need to discuss further to understand your position. Please contact the sales team in this instance.
All the above information will be completed in a reservation agreement form and both Fellside and You will sign it. We need some time together to complete this so you will need to be able to come to our office to complete the form or be able to hold a telephone meeting and complete, sign, scan, and return. Your reservation is only legally binding when you have signed the forms and paid the reservation fee (see FAQ 5). Therefore, if you contact us once the phone / email opens we will arrange a date and time to complete this with you.
5. What is the reservation fee?
We take a reservation fee of £1000 to secure your plot. This is deducted from your house price at completion. Your reservation is only legally binding when you have paid the reservation fee so this will have to be paid on the day to reserve your plot. It can be paid by bank transfer, and we will provide the details when going through the reservation with you. Please note, if you are unable to fulfil your reservation, we reserve the right to withhold the reservation fee for any costs incurred.
6. I want to use the Shared Ownership scheme; do I apply for this before doing the reservation?
No, you do not need your Shared Ownership in place to reserve. We advise using a mortgage advisor such as PBS Lancaster to understand your funding routes though and will need to have your mortgage in principle. You apply for Shared Ownership once your reservation is in place.
7. What happens after we have completed the reservation agreement and paid the fee?
We will send all the details to our solicitor who will prepare a contract pack to send to your solicitor to start proceeding to exchanging and completing your house. We will then keep you informed of your plot progress and will be in touch as soon as we are able to take you on site to visit. Your house is reserved until the date agreed between us in the agreement and we cannot market your house to anyone else. You will be required to exchange by the reservation expiry date otherwise we reserve the right to remarket the plot from this date onwards.
8. What internal choices can I make to finish my house?
No personalised choices can be made until we have exchanged contracts. At the point of exchange our sales team will advise how far through the build your plot is and what is available to choose. The earlier that you progress to exchange the more choices you will have. This could be choices such as colour of kitchen cupboards and worktops, karndean flooring style, carpet colour and tile finish. Please see the house specifications on the Craggs View website page for more information on what is included as standard.
9. Can I visit my plot / the site before reserving?
At the point of reservations opening (January 2022) the site will still be work in progress and we are unable to allow visitors therefore you will be reserving off plan. At your reservation meeting we will go through a reservation check list to ensure you are aware of everything about your plot and the development. We do not plan to have any show homes but will allow you to visit your plot as soon as it is safe and practical on site to do so.
As time progresses, where possible, we would be happy to show you around the site but this will be out of site working hours; 16:30 onwards on working days, weekends or bank holidays. Appointments to site are strictly appointment only due to site health and safety.
Please contact our sales team on info@fldl.co.uk if you have any further questions.
