I have 71 years left on my lease and need a lease extension for my apartment in Bearsted. Conveyancing solicitors on the Nationwide Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/10/2025 the requirements read as follows :
- There must be at least 30 years remaining at the end of the mortgage term (regardless of the length of lease at the start).
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:
Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer
- Where lending is over 85% of the purchase price/valuation on a second hand flat and the unexpired lease term on the offer is 90 years or more - only advise us if the actual lease term is less than 90 years.
New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer
Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.
SECOND HAND PROPERTIES
Unacceptable - advise Issuing Office (Will be declined):
- Unexpired lease term less than 55 years
- Unexpired lease term less than 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period is less than or equal to 5 years
Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 55 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial, etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary
Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than 85 years (Minimum 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat)
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI
NEW BUILD PROPERTIES (includes office conversions)
Unacceptable - advise Issuing Office (Will be declined)
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house (does not apply to Shared Ownership)
- Any lease which is subject to a Ground Rent (or Annual Rent) being charged which is more than on a peppercorn basis
- Any lease which is subject to a Ground Rent (or Annual Rent) being charged which is more than on a peppercorn basis
Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary
Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- A lease subject to a peppercorn Ground Rent (Annual Rent) charges
For the avoidance of doubt, any New Build properties completed but not sold pre-30 June 2022 will only be acceptable if the Lease conforms to the above guidance.
* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years.
Lease Extensions
We require all Lease Extensions to be completed under the Leasehold Reform Housing and Urban Development Act 1993 and to meet the above criteria as a minimum. Where you become aware that it does not meet these requirements, please refer to Issuing Office.
Please ensure that all lender enquiries are submitted (with full documentation/requirements) at least 2 weeks prior to exchange to allow sufficient time for review and decisioning.
Will my conveyancer be asking questions about flooding as part of the conveyancing in Bearsted.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Bearsted. Some people will acquire a property in Bearsted, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a number of searches that may be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Bearsted. The conventional set of property information forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine if the premises has suffered from flooding. If the residence has been flooded in past which is not revealed by the owner, then a purchaser may commence a legal claim for losses resulting from an misleading response. The buyer’s solicitors will also commission an enviro report. This should indicate whether there is any known flood risk. If so, additional investigations will need to be carried out.
Have completed on a a terraced house in Bearsted , What is the estimated time for the Land Registry to register my ownership? My Bearsted conveyancing solicitor has been very slow, so I want to be sure that my ownership is recorded.
As far as conveyancing in Bearsted registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can adjust depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any interested parties. At present in the region of three quarters of such applications are fully addressed in less than three weeks but occasionally there can be protracted delays. Historically registration takes place once the new owner is living at the premises thus post completion formalities is not usually top priority yet where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
Do I need to be wary that estate agents that I am dealing with are suggesting an online conveyancing firm rather than a local Bearsted conveyancing practice?
As is the case with lots of service providers, often referrals from relatives can be worth their weight in gold. Yet there are numerous players in a conveyancing deal; estate agents, mortgage brokers and lenders may recommend solicitors to instruct. Sometimes the lawyers might be known to one of the organisations as experts in their field, but occasionally there may be a commercial relationship behind the recommendation. You are free to choose your own lawyer. However, bear in mind that most lenders operate an approved list of solicitors you are obliged to use for the mortgage aspect of your house move.
My husband and I are a fortnight into a leasehold purchase having been recommend to solicitors by the selling agent to carry out the conveyancing in Bearsted. I am am very dissatisfied with the quality of service. Could you you assist me in finding new lawyers?
A lawyer would have to be really poor in order to consider replacing them. Has the mortgage been generated? If so you will need to make them aware of the replacement lawyer and have the offer are issued to the new lawyers. Your new conveyancer needs to be on the banks panel to avoid escalating fees and complications. That should be your starting point. The find a solicitor tool will help you find a lender approved solicitor for your conveyancing in Bearsted
I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Bearsted. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Bearsted ?
Most houses in Bearsted are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Bearsted so you should seriously consider shopping around for a Bearsted conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
Leasehold Conveyancing in Bearsted - Examples of Queries Prior to Purchasing
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What is the maintenance charge and ground rent on the apartment? The majority of Bearsted leasehold properties will incur a service charge for maintenance of the building invoiced by the landlord. If you purchase the property you will have to meet this charge, usually periodically throughout the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a ground rent for you to pay annual, this is usually not a significant sum, say about £50-£100 but you need to enquire as sometimes it could be prohibitively expensive. Does the lease have onerous restrictions?