Our god-son is about to exchange on a house that has just been built in Aspley Guise with a mortgage from HSBC. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Over the last few months I have been searching for a flat up to £305k and found one close by in Aspley Guise I like with open areas and railway links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Aspley Guise suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.

I am using a search engine for the phrase cheap conveyancing in Aspley Guise it brings up many property lawyerslocally. How do I determine which is the suitable conveyancing solicitor for purchase transaction?

The ideal way of finding the right conveyancer is via trusted referral, so enquire of friends and those you trust who have purchased a property in Aspley Guise or a reputable estate agent or financial adviser. Charges for conveyancing in Aspley Guise differ, so it's sensible to request at least four fee estimates from varying types of conveyancers. Dont forget to clarify that the fees are fixed.

Back In 2005, I bought a leasehold flat in Aspley Guise. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Aspley Guise who acted for me is not around. Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Aspley Guise conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Leasehold Conveyancing in Aspley Guise - A selection of Questions you should consider Prior to buying

The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is often retained where the building is larger than a house conversion, the managing agent is directed by the tenants. This information is useful as a) areas could cause problems in the building as the common areas may begin to deteriorate where repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have full disclosure

Why can I not complete our conveyancing in Aspley Guise on Easter Monday?

Because on completion the purchase price will be transferred electronically between the banks of the buyer and owner’s lawyer and at present this can only occur on a working day. So you can't complete on a weekend either.