Our god-son is purchasing a new build apartment in Bursledon with a home loan from Nationwide. His solicitor 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide 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 Nationwide 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 buying a house and the solicitor has identified Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly appropriate for conveyancing in Bursledon

Unless a prior purchase of the premises took place after 12 October 2013 you could assume that solicitors conducting conveyancing in Bursledon to remain encouraging a chancel search and or chancel repair liability policy.

I'm converting the mortgage on my current property to a BTL mortgage with TSB and intend to use the remaining equity as a deposit on another house. The neighborhood we are talking about is Bursledon. Will your lawyers be able to act for both sets of lenders and link together the two deals?

Make use of our search tool on this page to be sure that the lawyers are approved by both mortgage companies. On the basis that they are your solicitor will be able to connect the two conveyancing matters but you should talk with you conveyancer and make clear your desired outcome and needs.

I am attracted to a two apartments in Bursledon which have about forty five years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Bursledon is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bursledon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a basement flat in Bursledon, conveyancing having been completed May 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Bursledon with a long lease are worth £195,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2088

You have 63 years left to run we estimate the price of your lease extension to range between £16,200 and £18,600 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

Can you recommend a property lawyer for conveyancing in Bursledon (or nearby)? This is for lease extension.I had one appointed but just found out that are not on the panel for Clydesdale.

The purpose of this site is restricted to being a directory service for conveyancing practitioners who want to be listed as being on the approved conveyancing panel for Clydesdale in certain areas such as Bursledon . We dont recommend any particular conveyancer.