My wife and I are buying a newly constructed flat in Longridge and my conveyancer is informing me that she is duty bound to the mortgage company to disclose incentives from the seller. The Estate Agents are hassling me to sign contracts and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am about to put a bid on a leasehold apartment in Longridge. The estate agents advise that it is the norm for flats in Longridge to have less than 75 years left on the lease. I am taking out a loan with Tesco Bank. Will the property be mortgageable given that the lease has 70 years to go.
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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/9/2025 the requirements read as follows :
What can a local search tell me concerning the property my wife and I buying in Longridge?
Longridge conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search plays an important part in many a Longridge conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications applicable to the premises (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 thirteen topic areas.
I'm purchasing a new build house in Longridge with a loan from Godiva Mortgages Ltd. The builders refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it may adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 opted to have a survey carried out on a property in Longridge before appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders tend refuse to give a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Longridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Longridge to see if the conveyancing will be more expensive.
I am a negotiator for a long established estate agency in Longridge where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Longridge conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a 1 bedroom flat in Longridge, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Longridge with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease terminates on 21st October 2082
With only 57 years remaining on your lease we estimate the premium for your lease extension to be between £28,500 and £33,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.