Thanks Drakan – I stand corrected.
Unfortunately the banks still refuse to lend without an LFO (my experience in any case) which means the majority of buyers will not and cannot buy a property.
Yes, this is true. Banks refuse to lend if there is no LFO. Another reason more to request it before completion.
However the developer’s bank, the one that granted the developer the mortgage to build, normally lend you money even if there is no LFO. But only them Inez. 😉