I am not well enough to travel far from Alresford. I would like to know the reason why all Alresford conveyancing practitioners aren't included on all mortgage company panels?

A decade ago most mortgage companies demonstrated an attitude to risk which differs from the current day. The FSA in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. As a result, banks have subsequently soughtmore data from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of law practices have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum volume of transactions the lenders required.

My son-in-law is about to exchange on a new build apartment in Alresford with a home loan from Nationwide. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?

The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How does conveyancing in Alresford differ for newly converted properties?

Most buyers of new build property in Alresford contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Alresford typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Alresford or who has acted in the same development.

Due to the encouragement of my in-laws I had a survey completed on a house in Alresford prior to retaining lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies will not give a mortgage on this type of property.

It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Alresford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Alresford to see if the conveyancing will be more expensive.

Can you provide any top tips for leasehold conveyancing in Alresford from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Alresford can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers’ lawyers.
You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or Management Companies in Alresford charge for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Alresford. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Arranging a new share certificate is often a lengthy formality and slows down many a Alresford conveyancing deal. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible. If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.

Alresford Conveyancing for Leasehold Flats - Sample of Queries before buying

Who is in charge of the building? Are there any major works in the near future that could add a premium to the maintenance fees? What is the maintenance charge and ground rent on the apartment?