My nephew is in the process of securing a newly built flat in Upminster Bridge with a mortgage from Nottingham. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Why do I have to pay up front when it comes to conveyancing in Upminster Bridge?

If you are buying a property in Upminster Bridge your lawyer will ask you put them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the sale price then this will be required immediately ahead of contracts are exchanged. The final balance that is needed should be transferred a couple of days ahead of the completion date.

About to purchase a new build apartment in Upminster Bridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Upminster Bridge

Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

I have been on the look out for a ground for flat up to £305k and found one close by in Upminster Bridge I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Upminster Bridge in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

I am a sole trader hoping to lease a unit on the high street. Can you recommend conveyancers offering fixed fees for non-domestic conveyancing in Upminster Bridge for below £2000?

We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Upminster Bridge, including the disposal and acquisition of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and complexity of the deal. Let us have your contact information or email us so that we may supply you with comprehensive commercial conveyancing quote.