My Llanbedrog solicitor has discovered a discrepancy between the assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor says that he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have Fifty Six years left on my lease and need a lease extension for my apartment in Llanbedrog. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions correct?
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 23/9/2025 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.
A relative pointed out to me me that in purchasing a property in Llanbedrog there may be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are a number of properties in Llanbedrog which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Llanbedrog should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Llanbedrog conveyancing practitioner on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
It is not clear whether my bank requires a lease extension. I have called into my local Llanbedrog bank branch on various occasions and was informed it wasn't an issue and they would lend. My Llanbedrog conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their published requirements. Who do I believe?
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm converting the mortgage on my existing house to a BTL loan with TSB and I will use the ballance of the raised equity as a deposit on a second house. The location we are interested in is Llanbedrog. Will your conveyancers be able to act for both sets of banks and tie in the transactions?
Do use our comparison tool on this site to check that the conveyancers are on the relevant lender panels. Having checked that they are the lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make apparent your expectations and needs.
Planning to sign contracts shortly on a studio apartment in Llanbedrog. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Llanbedrog should include some of the following:
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Whether the lease restricts you from renting out the property, or having a home office for business What options are open to you if a neighbour breaches a clause of their lease? Where does the liability rest for maintaining the window frames Rent payments - how much and what the invoice dates are, and be on notice if this will change in the future Are you allowed to have a pet in the flat?
Llanbedrog Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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On the whole the cost for major works tend not to be incorporated into the service charges, although there some managing agents in Llanbedrog ask leaseholders to pay into a reserve fund and this is used to offset against major repairs or maintenance. How much is the service charge and ground rent on the flat? Can you inform me if there are any major works in the near future that will likely add a premium to the service charges?
Me and mywife and I are in the market for a trustworthy conveyancing lawyer in Llanbedrog to buy a house. I I am concerned about being overcharged and there are plenty Llanbedrog conveyancing firms to choose from...who's the best?
A trustworthy personal recommendation via a friend or family member who has instructed a conveyancing lawyer previously is no doubt a preferable. You are sure to know someone who has used a conveyancing lawyer previously. Do use our tool to compare Llanbedrog conveyancing quotes