Our god-son is purchasing a house that has just been built in Newton Abbot with a home loan from Nottingham. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?

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.

Can you clarify what the consequences are if my solicitor is suspended from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Newton Abbot?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

Will our conveyancer be making enquiries concerning flooding as part of the conveyancing in Newton Abbot.

The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Newton Abbot. Some people will buy a house in Newton Abbot, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Newton Abbot. The conventional set of property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine if the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a purchaser could bring a claim for damages as a result of such an inaccurate reply. A buyer’s solicitors should also order an enviro report. This will higlight if there is any known flood risk. If so, additional investigations should be conducted.

I completed on my home on 10 July and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Newton Abbot expressed confidence that it should be formalised inside ten days. Are transfers in Newton Abbot uniquely lengthy to register?

As far as conveyancing in Newton Abbot registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. At present roughly 80% of such applications are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Registration occurs once the new owner has moved in to the property thus 'speed' is not always an essential issue but where it is urgent that the the registration takes place urgently then you or your conveyancer can contact the land registry and explain the circumstances.

Do you have any top tips for leasehold conveyancing in Newton Abbot with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Newton Abbot can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers’ lawyers.
Some Newton Abbot leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. 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 will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing. Many landlords or Management Companies in Newton Abbot charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Newton Abbot.

Leasehold Conveyancing in Newton Abbot - Sample of Queries before buying

Its a good idea to discover as much as you can concerning the managing agents as they will affect 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 practical issues such as the tidiness of the communal areas. Don't be afraid to ask other people whether they are happy with them. Finally, find out the dates that you are obliged pay the service charge to the managing agents and specifically what it includes. Is there a share of the freehold? Are any of leasehold owners in arrears of their service charge liability?