Completed the sale of my flat in Broughton In Furness last December yet the purchaser is whats apping me to say her lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your disposal your conveyancer is duty bound to send the transfer documentation and all additional paperwork to the buyer’s conveyancer. If applicable, your lawyer must also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There are no post completion steps unique to conveyancing in Broughton In Furness.
About to place a bid on a leasehold property in Broughton In Furness. The estate agents assure me that it is normal for flats in Broughton In Furness to have less than 75 years remaining. I am expecting a loan with The Mortgage Works. Is this going to be acceptable if the lease has Seventy One years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/4/2026 the requirements read as follows :
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
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 70 years
- 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 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 70 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 1.0% 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
- 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
- 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 reviewed and altered on any review basis or methodology
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 1.0% 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 the 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Broughton In Furness
There are many recorded licenced Conveyancers in Broughton In Furness and Solicitor firms in Broughton In Furness offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We had appointed conveyancers based in Broughton In Furness on the Virgin Money solicitor approved list. They have just invoiced me a separate fee for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This fee is not dictated by Virgin Money but by your Broughton In Furness lawyer. Plenty of firms on the Virgin Money panel will quote ’dealing with mortgage’ fee and others do not.
How can we know in advance if a Broughton In Furness conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Broughton In Furness getting recommendations is a sensible 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 advocate that you speak with the lawyer conducting your transaction.
I have justbecome aware that Action Conveyancing have closed. They carried out my conveyancing in Broughton In Furness for a purchase of a freehold house 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can carry out 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 Broughton In Furness conveyancing specialists.
I'm buying a new build house in Broughton In Furness benefiting from help to buy. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The sale representative told me not to tell my conveyancer about the extras as it may jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 have chosen a Broughton In Furness conveyancing solicitor for our house purchase (first time buyers) and have noticed in the engagement letter that they are not overseen by the Financial Conduct Authority. Should I be concerned or is that standard with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who set strict laws covering monies held on client account.