My son-in-law is buying a house that has just been built in Buckfastleigh and Dean with a home loan from Skipton. His lawyer has advised him of a delay in completing 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 Skipton 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 Skipton 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 Buckfastleigh and Dean differ for new build properties?

Most buyers of new build premises in Buckfastleigh and Dean contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Buckfastleigh and Dean typically 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 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 accustomed to new build conveyancing in Buckfastleigh and Dean or who has acted in the same development.

I am looking to sell my home. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Buckfastleigh and Dean if that makes things easier.

You should use our search tool to help you find a solicitor for your conveyancing in Buckfastleigh and Dean. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.

I've recently bought a leasehold flat in Buckfastleigh and Dean. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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. However, 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).

I acquired a ground floor flat in Buckfastleigh and Dean, conveyancing having been completed in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Buckfastleigh and Dean with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2077

With just 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my house purchase in Buckfastleigh and Dean , but I am keen proceed. Do I have options?

You can accept a smaller deposit. Most sellers will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute