My god-son is purchasing a new build apartment in Crymych with a home loan from TSB. 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 involved in the purchase. 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 asked. 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.

We are looking to buy a property and require a conveyancing solicitor in Crymych who is on the Nationwide solicitor panel. Can you recommend a local conveyancing firm?

Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Crymych.

I am purchasing my first flat in Crymych benefiting from help to buy. The sellers would not budge the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not inform my solicitor about the deal as it will jeopardize my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a ground for flat up to £305k and identified one near me in Crymych I like with a park and transport links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Crymych for this price, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.

I’m about to sell my garden apartment in Crymych. Conveyancing solicitors are to be appointed soon, but I have recently had a half-yearly service charge invoice – what should I do?

It best that you discharge the maintenance contribution as usual as all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Crymych Leasehold Conveyancing - Sample of Queries Prior to buying

The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent is directed by the tenants. Best to be warned whether redecorating or some other significant cost is due in the near future that will be shared amongst the leaseholders and will materially increase the the service charges or require a specific invoice. How long is the Lease?