Reserving at Laureston, Heysham
We released our newest development; Laureston, Heysham last week. 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.
Since releasing the development we have been asking prospective buyers to register their interest via the website by leaving contact details and providing information on the house type, price bracket and buying position. It means that once we can take formal reservations, we have details on file, and they can be contacted first. If you haven’t yet done this yet and you are interested in a Laureston plot please do this here > https://fldl.co.uk/developments/laureston-heysham/ by clicking on the ‘Register Your Interest’ button on the left hand side and completing the form.
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 Laureston open?
We are planning to open for reservations early November 2020. If you have registered your details at the link above, you will be emailed at least a week in advance with confirmation of the exact date so rest assured you will be in the first group of people who will know.
2) How will the reservation process work?
Our phone line and email will open at 9am on the nominated day and plots will be reserved on a first come first serve basis from those parties who are able to reserve, see FAQ 3.
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. The forecast date for exchange for each plot is here > https://fldl.co.uk/wp-content/uploads/2020/09/LAURESTON-PLOT-PRICES-AND-DATE.pdf
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 the day to know you are position to exchange. We advise that you contact your solicitor for guidance on exchanging if required.
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 number 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:
- Your, and other buyers if more than one person is buying, address and contact details
- Your nominated solicitors’ / conveyancers’ details who are going to act on your behalf
- Your mortgage / finance agreement in principle for the value of the plot
- Confirmation that you can exchange by the required date through 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 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
- If your house is still on the market, you need to put your house on the market or want to part exchange we can discuss this with you further to understand if you would be in a position to exchange and this would be dealt with on a case by case basis
All the above information will be completed in a reservation agreement form and both parties 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 £500 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.
6) I want to use the Help to Buy Equity Loan scheme, do I apply for this before doing the reservation?
No, you do not need your Help to Buy agreement in place to reserve. We advise using a mortgage advisor such as PBS Lancaster to understand your funding routes though. You apply for Help to Buy 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.
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 Laureston 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 (November 2020) 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.
10) What happens if I am not able to reserve on the reservation opening day?
We cannot anticipate how fast or which plots will be reserved. We will keep our website updated daily with the plots remaining and if they are still available after opening day then we will continue to take reservations on a first come first serve basis.
Please contact our sales team on firstname.lastname@example.org or 01524 737270 if you have any further questions.