About to place an offer on a leasehold apartment in Consett. The selling agents assure me that it is the norm for flats in Consett to have less than 75 years unexpired on the lease. I am getting a mortgage with Accord Mortgages. Is this going to be a problem if the lease has Seventy One years to go.
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. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 6/3/2026 the requirements read as follows :
What will a local search reveal concerning the house we're buying in Consett?
Consett conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Consett conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
Are there restrictive covenants that are commonly identified during conveyancing in Consett?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Consett. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey carried out on a house in Consett in advance of retaining conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to give a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Consett. Conveyancing will be smoother if you use a solicitor in Consett especially if they are accustomed to such properties in Consett.
I'm converting the mortgage on my current home to a buy to let loan with TSB and I will use the ballance of the raised equity as a down payment on another house. The neighborhood we are interested in is Consett. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our search tool on this site to ensure that the solicitors are on the appropriate lender panels. Having checked that they are your lawyer will be able to simultaneously deal with the two transactions but you should talk with you lawyer and communicate your expectations and requirements.
What are your top tips when it comes to finding a Consett conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Consett conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Consett conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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How many lease extensions have they carried out in Consett in the last 12 months?
I inherited a studio flat in Consett, conveyancing having been completed July 1995. How much will my lease extension cost? Similar properties in Consett with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease runs out on 21st October 2083
You have 57 years unexpired we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.