My nephew is purchasing a house that has just been built in Kirkbymoorside with a home loan from Yorkshire BS. His conveyancer has said that there is a delay in receiving 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

What happens if my solicitor is suspended from the RBS Conveyancing panel ahead of completing my conveyancing in Kirkbymoorside?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Various online forums that I have come across warn that are the main cause of stalling in Kirkbymoorside house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Kirkbymoorside.

Are there restrictive covenants that are commonly picked up during conveyancing in Kirkbymoorside?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Kirkbymoorside. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Planning to sign contracts shortly on a studio apartment in Kirkbymoorside. Conveyancing solicitors assured me that they will have a report out to me 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 Kirkbymoorside should include some of the following:

Details of the parties to the lease, for instance these could be the tennant, superior lessor, freeholder Do you need to have carpet in the flat or are you allowed wood flooring? You need to be informed what is to be regarded as a Nuisance in the lease An explanation as to the provision as set out in the lease to pay service charges - with regard to both the building, and the wider rights a leaseholder has Ground rent - how much and what the invoice dates are, and be on notice if this is subject to change

I invested in buying a leasehold flat in Kirkbymoorside, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Kirkbymoorside with over 90 years remaining are worth £216,000. The ground rent is £50 per annum. The lease ceases on 21st October 2093

With only 69 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.