Our son-in-law is in the process of securing a new build apartment in Woore with a home loan from Virgin Money. His solicitor 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 form 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 Virgin Money 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 Virgin Money 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 Woore differ for new build properties?

Most buyers of new build residence in Woore contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Woore tend to purchase the site, 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 Woore or who has acted in the same development.

I am looking for a leasehold apartment up to £245,000 and identified one close by in Woore I like with amenity areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Woore for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.

Taking into account that I will soon spend 450k on a garden flat in Woore I wish to talk to a lawyer about myhome move in advance of giving the go ahead to the firm. Can this be arranged?

This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your property ownership legalities in Woore.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Woore should be the figure that you are charged.

I've recently bought a leasehold property in Woore. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Leasehold Conveyancing in Woore - A selection of Queries Prior to Purchasing

You should want to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the communal areas. Ask other tenants what they think of their management. On a final note, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. Be sure to enquire if the the lease includes any unreasonable restrictions in the lease. For instance some leases prohibit pets being permitted in in a block in Woore. If you love the propertyin Woore yet your dog is not allowed to live with you then you will be presented with a hard determination. This question is important as a) areas can result in problems for the building as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have all the details