Our son-in-law is in the process of securing a house that has just been built in Daventry with a home loan from TSB. His lawyer 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 document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the surveyor 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Will my conveyancing lawyers need to check that the building insurance when buying a house in Daventry. My lender is Nationwide Building Society

Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 16/11/2024, the requirements read as follows :

The estate agent has sent us the confirmation of our purchase of a new build flat in Daventry. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Daventry

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision.

I opted to have a survey carried out on a house in Daventry prior to retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some mortgage companies tend not grant a loan on a flying freehold property.

It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Daventry. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Daventry to see if the conveyancing costs will increase in light of this.

We're FTB’s - had an offer accepted, but the property agent advised that the owners will only issue a contract if we instruct their preferred lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Daventry

It is unlikely the vendors are behind this. If they require ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to instruct your preferred Daventry conveyancing solicitors - as opposed tothe ones that will give their estate agent a introducer fee or achieve conveyancing figures set by head office.