My god-son is in the process of securing a house that has just been built in Bagshot with a mortgage from UBS. His lawyer has advised him of 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 form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when requested. 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

My wife and I own a 4 bedroom Georgian property in Bagshot. Conveyancing lawyer represented me and Aldermore. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?

You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bagshot and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.

Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Bagshot I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Bagshot for this price, so just wondered if I would be making a grave error purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.

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I am employed by a long established estate agent office in Bagshot where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Bagshot conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Bagshot - Examples of Queries Prior to Purchasing

It would be wise to discover as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. Ask other people what they think of their management. Finally, be sure you discover the dates that the service fees are due to the managing agents and precisely what you get for your money. Is there a share of the freehold?