I am about to put a bid on a leasehold apartment in Maidstone. The property agents say that it is the norm for flats in Maidstone to have less than 75 years remaining. I am taking out a mortgage with Tesco Bank. Is this going to be acceptable if the lease has 69 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 14/9/2025 the requirements read as follows :
My lawyer has informed me that breach of easement insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Maidstone?
The right level of breach of easement indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such insurances.
Can I be sure that the Maidstone conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Maidstone obtaining 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 advise that you speak with the solicitor handling your conveyancing.
We have agreed to purchase a house in Maidstone. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
As your lender is Clydesdale your lawyer must check the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Clydesdale. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Clydesdale where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Maidstone.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Maidstone for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make 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 Maidstone conveyancing specialists.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Maidstone I like with open areas and railway links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Maidstone suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I am tempted by the attractive purchase price for a two maisonettes in Maidstone which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Maidstone is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Maidstone conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a 2 bed flat in Maidstone, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Maidstone with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2092
You have 67 years left to run the likely cost is going to span between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues 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 placing reliance on this information without first getting professional advice.
Our financial adviser has recommended their conveyancer for my conveyancing in Maidstone - won’t it be easier to just instruct them?
You need to establish if the selling agent is recommending a conveyancing practitioner or introducing to a conveyancer. There are plenty of Maidstone estate agents who recommend two or three Maidstone conveyancing firms purely based on those lawyers offering a great service.