Our nephew is about to exchange on a newly built flat in Finedon with a home loan from Barclays. His solicitor has said that there is a delay in receiving 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 Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Why is leasehold purchase conveyancing in Finedon costs more?

Finedon leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

A relative advised me that in purchasing a property in Finedon there could be various restrictions preventing external alterations to a property. Is this right?

There are anumerous of properties in Finedon which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Finedon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

I have decided to exercise my right to buy my property in Finedon off the council. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.

Aldermore have agreed my home loan in principle, my bid on a property in Finedon has been accepted, what are the next steps?

Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Telephone Aldermore or the broker and finish off any outstanding forms. Aldermore will sellect a valuer who will get in contact with the estate agent or vendor to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Aldermore will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Finedon.

I moved into my house on 6 May and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Finedon expressed confidence that it will be formalised in less than a month. Are properties in Finedon particularly slow to register?

As far as conveyancing in Finedon registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can differ according to who lodges the application, whether there are errors and if the Land registry have to notify any other parties. At present roughly three quarters of such applications are fully addressed within two weeks but some can be subject to longer delays. Registration occurs once the buyer has moved in to the premises therefore 'speed' is not always primary concern but if there is a degree of urgency associated with the registration then you or your solicitor can contact the land registry and explain the circumstances.

Due to sign contracts shortly on a basement flat in Finedon. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Finedon should include some of the following:

Changes to the property Ground rent - how much and what the invoice dates are, and also know whether this is subject to change You should have a good understanding of the insurance obligations Details of the parties to the lease, for example these could be the tennant, superior lessor, landlord Does the lease prohibit wood flooring?

I bought a garden flat in Finedon, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Finedon with over 90 years remaining are worth £176,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2106

With 80 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.