Our nephew is about to exchange on a house that has just been built in New Romney with a home loan from Co-operative. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The form 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 Co-operative 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

At what point does exchange of contracts happen for sale conveyancing in New Romney and am I required to attend the conveyancers office?

If you are round the corner to one of the conveyancing solicitors in New Romney you are invited in to sign documents. However, the law practices we work with supply countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you electronically. The executing of the contract is not the important part. Signing on the dotted line simply enables the firm to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in New Romney)to be in the office at the appropriate time.

I'm buying my first flat in New Romney benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The sale representative told me not reveal to my conveyancer about the extras as it could impact my mortgage with the bank. 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'm remortgaging my existing property to a buy to let loan with Norwich and Peterborough Building Society and intend to use the remaining equity towards a second property. The location we are talking about is New Romney. Will your conveyancers be able to act for both sets of mortgage companies and tie in the conveyances?

Make use of our comparison tool on this page to check that the lawyers are approved by both banks. On the basis that they are your solicitor should be able to connect the two deals but you should have a chat with you conveyancer and make apparent your desired outcome and needs.

Last October I purchased a leasehold house in New Romney. 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 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. A critical element 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).

New Romney Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

What restrictions are contained in the New Romney Lease? It is important to be aware if redecorating or some other major work is due shortly that will be shared amongst the leaseholders and will dramatically increase the the service charges or require a one off payment. It would be wise to investigate if there is anything that is prohibited in the lease. For instance some leases prohibit pets being allowed in in a block in New Romney. If you love the flatin New Romney however your cat is not allowed to live with you then you will be faced difficult determination.