Our grandson is in the process of securing a new build apartment in Pontllanfraith with a mortgage from Clydesdale. His conveyancer has advised him of 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How does conveyancing in Pontllanfraith differ for new build properties?

Most buyers of new build residence in Pontllanfraith contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Pontllanfraith tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pontllanfraith or who has acted in the same development.

Due to the advice of my in-laws I had a survey completed on a property in Pontllanfraith before instructing lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some lenders may not issue a loan on a flying freehold house.

It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact 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 Pontllanfraith. Conveyancing will be smoother if you use a solicitor in Pontllanfraith especially if they are accustomed to such properties in Pontllanfraith.

I was pointed in your direction by a few selling agents in Pontllanfraith to get a quote from a conveyancer on your site. What’s the financial inducement for Estate Agents to market your site rather than another?

We don’t make any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.

What advice can you give us when it comes to finding a Pontllanfraith conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Pontllanfraith conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Pontllanfraith conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:

What volume of lease extensions has the firm conducted in Pontllanfraith in the last 12 months?

Leasehold Conveyancing in Pontllanfraith - A selection of Queries before Purchasing

Most Pontllanfraith leasehold properties will have a service bill for maintenance of the building invoiced by the landlord. Where you acquire the property you will have to meet this charge, usually periodically accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a significant figure, say approximately £50-£100 but you should to enquire as sometimes it can be surprisingly expensive. How is the lease structured? Is anyone aware of any major works anticipated that could increase the maintenance fees?