Our son is in the process of securing a house that has just been built in Swavesey with a mortgage from Aldermore. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

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 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How does conveyancing in Swavesey differ for newly converted properties?

Most buyers of new build or newly converted property in Swavesey come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Swavesey 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 conveyancers 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 used to new build conveyancing in Swavesey or who has acted in the same development.

I am looking for a leasehold apartment up to £305k and found one close by in Swavesey I like with open areas and station nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Swavesey for this price, so just wondered if I would be making a grave error buying a short lease?

Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

I'm refinancing my current property to a BTL loan with Platform Home Loans Ltd and I will use the rest of the raised equity as a deposit on a second house. The area we are talking about is Swavesey. Will your conveyancers be able to act for the two mortgage companies and tie in the transactions?

Do use our comparison tool on this page to be sure that the conveyancers are on the appropriate lender panels. Having checked that they are your lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and specify your expectations and requirements.

Estate agents have just been given the go-ahead to market my ground floor flat in Swavesey. Conveyancing solicitors are to be appointed soon, but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal given that all rents and maintenance invoices should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies 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.

Swavesey Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

Is there a share of the freehold? Does the lease have more than 82 years left? It would be prudent to discover as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily issues such as the upkeep of the common parts. You should not be afraid to ask other people whether they are happy with their service. In conclusion, be sure you discover the dates that you are obliged pay the maintenance charge to the relevant party and specifically what you get for your money.