Our son-in-law is in the process of securing a newly built flat in Cotswolds with a mortgage from Skipton. His conveyancer 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 form 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 Skipton conveyancing panel as a standard part of the process, and to the valuer 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 Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

It is 10 years ago since I bought my home in Cotswolds. Conveyancing solicitors have now been appointed on the sale but I am unable to find the title documents. Is this a major issue?

Don’t worry too much. First there is a possibility that the deeds will be retained by the mortgage company or they could still be with the solicitor who acted in the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in Cotswolds relates to registered property but in the rare situation where your property is unregistered it is more problematic but is resolvable.

How does conveyancing in Cotswolds differ for new build properties?

Most buyers of new build or newly converted property in Cotswolds approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Cotswolds typically acquire the land, 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 property lawyers 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 accustomed to new build conveyancing in Cotswolds or who has acted in the same development.

I am looking for a flat up to £305k and found one round the corner in Cotswolds I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Cotswolds for this price, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a mortgage the shortness of the lease will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension 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 speak to your conveyancing solicitor about this matter.

I’m about to sell my basement flat in Cotswolds. Conveyancing is yet to be initiated, but I have recently had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as normal as all rents and service charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I acquired a 1st floor flat in Cotswolds, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Cotswolds with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2085

With 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.