Hello people hoping to move into Sierra Golf
I have been following the threads with interest but I confess I am a little confused. Karen C's thread from an earlier post seemed to be based on experience. She said: '
'The land registry literally registers the property ( like in England), so therefore the property does not legally exist without it. Banks will not be able to issue mortgages without the land registry being granted. The LFO is the licence of first occupation - this is when the builders apply to the council to sign off the area - saying that the area is ready for habitation - ie all roads are built, all amenities ( gas, electricity, phone lines etc) all street lights etc. BUilders don't usually apply for this until they know they have met the standard as I think they can be fined if they fail. Until the builder is granted this, you will be on builders electric as the utility companies will not install until then. This can be applied for when each phase is completed. The first stage is the land registry, you need this before anything else.
The land registry for my development was applied for in October last year, and was only granted at Easter this year after much pressure from our builder. As a lot of us have bought as second/holiday homes many of us needed a mortgage to complete. The only people living on our development before this, were those who bought outright but they took as chance as until the land registry is granted, you are unable to sell on, as the house literally does not legally exist'.
In plain terms, does anybody know:
. What exactly is the licence that Masa has applied for?
. What does this particular company mean by the term 'handover'?
. By the term 'handover', does it mean that it will still need to apply for a licence of first occupation that seems to be indicated on an earlier thread?
. Is it the case that only BBVA will grant a mortgage immediately as it is financing the development
Any clarification from any source would be appreciated.
Thank you
Hoping