Our son is about to exchange on a newly built flat in tipton with a home loan from TSB. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?

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 TSB 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 TSB 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 about to put a bid on a leasehold apartment in tipton. The property agents advise that it is standard for flats in tipton to have less than 75 years left on the lease. I am obtaining a mortgage with Platform. Is this going to be acceptable if the lease has Seventy One years left.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 30/1/2025 the requirements read as follows :

How does conveyancing in tipton differ for new build properties?

Most buyers of new build premises in tipton come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in tipton typically purchase 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 conveyancers 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 tipton or who has acted in the same development.

Last September I purchased a leasehold property in tipton. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

tipton Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Best to be warned if a new roof is being installed or some other major work is pending that will be shared amongst the tenants and could well dramatically increase the the maintenance charges or necessitate a one off invoice. What restrictions are contained in the tipton Lease? For most tipton leaseholds the outlay for major works tend not to be wrapped into the maintenance charges, although a few managing agents in tipton require leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance.

Is there a reason that tipton conveyancing costs are higher for leasehold and freehold properties?

When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control