My son-in-law is about to exchange on a new build apartment in Eastleigh with a home loan from Aldermore. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?

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

I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Eastleigh with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?

There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

Should commercial conveyancing searches reveal impending roadworks that may impact a commercial property in Eastleigh?

Many commercial conveyancing solicitors in Eastleigh will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Eastleigh. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Eastleigh.

For each commercial conveyancing transaction in Eastleigh it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Eastleigh commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Eastleigh.

How does conveyancing in Eastleigh differ for newly converted properties?

Most buyers of new build property in Eastleigh approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Eastleigh typically purchase the real estate, 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 accustomed to new build conveyancing in Eastleigh or who has acted in the same development.

I am looking for a flat up to £195,000 and found one close by in Eastleigh I like with a park and transport links nearby, however it only has 52 remaining years left on the lease. There is not much else in Eastleigh for this price, so just wondered if I would be making a mistake acquiring a short lease?

If you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.