Our son-in-law is purchasing a newly built flat in Bishops Stortford with a mortgage from Nottingham. His conveyancer has advised him of 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 Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I own a freehold property in Bishops Stortford but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Bishops Stortford and has limited impact for conveyancing in Bishops Stortford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

When it comes to mortgage companies such as RBS, do Bishops Stortford lawyers incur a fee to be on the list of approved solicitors?

We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

I have paid off my mortgage with Coventry BS. I assume I don't need a Bishops Stortford conveyancing practitioner on the Coventry BS panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Coventry BS has sent the Land Registry the discharge electronically, and
3. Coventry BS has instructed the Land Registry to do so

I have decided to exercise my right to buy my property in Bishops Stortford off the council. I have a mortgage offer with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.

I got the keys to my flat on 1 November and the transaction details is not yet registered. Need I be worried? My conveyancing solicitor in Bishops Stortford advises it should be dealt with in a couple of weeks. Are properties in Bishops Stortford uniquely lengthy to register?

There is nothing unique about conveyancing in Bishops Stortford registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd parties. As of today in the region of 80% of such applications are completed within 12 days but some can be subject to longer hold-ups. Historically registration takes place once the buyer has moved in to the property therefore 'speed' is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.

I am a negotiator for a busy estate agency in Bishops Stortford where we see a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Bishops Stortford conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Bishops Stortford Leasehold Conveyancing - Sample of Queries before buying

It is important to be aware if a new roof is being put on or some other major work is pending that will be shared by the leasehold owners and could well materially increase the the maintenance fees or result in a specific invoice. Be sure to enquire if the the lease includes any adverse restrictions in the lease. For example it is very common in Bishops Stortford leases that pets are not permitted in in a block in Bishops Stortford. If you love the flatin Bishops Stortford but your cat is not allowed to make the move with you then you have a very difficult decision.