Our nephew is buying a house that has just been built in Marshalls Park with a home loan from Nationwide. 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 Nationwide conveyancing panel as a standard part of the process, and to the valuer 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 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 my first flat in Marshalls Park with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The estate agent told me not to tell my lawyer about the side-deal as it may adversely affect my loan with The Royal Bank of Scotland. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a flat up to £195,000 and found one round the corner in Marshalls Park I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Marshalls Park in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?

If you need a home loan the shortness of the lease will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.

How do I search for a Marshalls Park solicitor on the Norwich and Peterborough Building Society conveyancing panel? I have a car and am happy to travel upto 10kilometers to meet the conveyancer.

Feel free to make use of the search on this website. Please pick a lender and your location and you will see a number of Marshalls Park conveyancing lawyers locally. We have detailed some Marshalls Park conveyancing firms towards the end of this page and you can ring them to see whether they are on the Norwich and Peterborough Building Society panel

Do you have any top tips for leasehold conveyancing in Marshalls Park with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Marshalls Park can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
Some Marshalls Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I inherited a 1st floor flat in Marshalls Park, conveyancing formalities finalised in 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Marshalls Park with over 90 years remaining are worth £265,000. The ground rent is £50 per annum. The lease ceases on 21st October 2100

With 76 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.