Our grandson is purchasing a new build apartment in Sneyd Park with a mortgage from RBS. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can I be sure that the Sneyd Park conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Sneyd Park obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your transaction.
I recently had an offer accepted on an apartment in Sneyd Park. My mortgage broker recommended their conveyancers. I paid an on account payment of £150. Not long after, the conveyancer called me sheepishly admitting that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My offer was accepted on an apartment in Sneyd Park on 15/1/2026, valuation was booked 3 days after, received a clean bill of health. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Are Lloyds entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are a common cause of delay in Sneyd Park conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Sneyd Park.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Sneyd Park I like with open areas and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Sneyd Park in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Can you offer any advice when it comes to appointing a Sneyd Park conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Sneyd Park conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Sneyd Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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Can they put you in touch with clients in Sneyd Park who can give a testimonial? What volume of lease extensions have they conducted in Sneyd Park in the last year?
I acquired a 1st floor flat in Sneyd Park, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Sneyd Park with over 90 years remaining are worth £260,000. The ground rent is £45 yearly. The lease expires on 21st October 2100
With only 74 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
What is the reason for new build conveyancing in Sneyd Park being more expensive?
Buying a brand new property is completely different from the normal house buying conveyancing in Sneyd Park. Firstly housebuilders ordinarily insist contracts to exchange within a tight deadline, so there is a a great deal of pressure on your conveyancer to ensure everything is in order. Furthermore new build conveyancing often necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company obligations are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.