My grandson is buying a new build apartment in Swansea City with a mortgage from RBS. His lawyer has said that there is 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 document is intended to provide information to the main parties engaged in the transaction. 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 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have Fifty Six years unexpired on my lease and need a lease extension for my flat in Swansea City. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 5/4/2025 the requirements read as follows :
Various online forums that I have visited warn that are a common cause of delay in Swansea City conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Swansea City.
I have recentlybecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Swansea City for a purchase of a leasehold flat 10 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The easiest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Swansea City conveyancing specialists.
I have recently realised that I have Fifty years remaining on my lease in Swansea City. I need to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole a specialist would be helpful to carry out a search and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Swansea City.
Swansea City Leasehold Conveyancing - Sample of Queries before Purchasing
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The best form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and even though a managing agent is often retained if it is larger than a house conversion, the managing agent retained by the leaseholders. If a Swansea City lease has no more than 80 years it will have adverse implications on the value of the property. Check with your bank that they are willing to lend given the lease term. A short lease means that you will probably require a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for two years in order to be legally able to exercise a lease extension. How many years remain on the lease?
After what feels like an age I have had an offer on an apartment in Swansea City agreed to, the seller does nevertheless have a dependent purchase. The owners have offered on somewhere, however it’s not yet tied up, and are looking at other apartments booked. I have chosen a local conveyancing lawyer in Swansea City. What do I do now? When should I get the mortgage application with Bank of Ireland started with Bank of Ireland?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx one thousand pounds, then valuation, Swansea City conveyancing search costs, etc). The first course of action is to ensure that your solicitor is on the Bank of Ireland approved list. As to the subsequent stages this very much depends on the uniqueness of your case, desire for this property and on the state of the market. During a buoyant market the majority of home buyers will apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it comes back ok would they request their conveyancer to move forward with searches.