I am about to put a bid on a leasehold property in Aspley Guise. The estate agents assure me that it is standard for flats in Aspley Guise to have less than 75 years left on the lease. I am taking out a loan with The Mortgage Works. Is this going to be a problem if the lease has Seventy One years left.
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. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 29/1/2026 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.
Have just purchased a probate house at auction in Aspley Guise. Conveyancing is necessary. What happens now?
Now that you have for in every practical sense signed on the dotted line you will need to choose a conveyancing practitioner quickly as you are faced with a pending a drop dead date to complete the transaction. An auction property should have a bespoke auction set of papers. This will include most,if not all of the paperwork that your lawyer requires. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to pass this on to the lawyer working for you ASAP. Do make sure that your finances are in order to complete on the date specified in the contract.
Forgive me if this question is silly but I am wet behind the ears as a 1st time purchaser of a ground floor flat in Aspley Guise. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Aspley Guise?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be invited to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I'm the only beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Aspley Guise. The Aspley Guise property was put into my name in December. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this requirement chiefly exists to pick up on subsales or the wholesaling and assigning of properties.
I used Stirling Law several years past for my conveyancing in Aspley Guise. I now require my file however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Aspley Guise of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How do I search for a Aspley Guise law firm on the National Westminster Bank conveyancing panel? I have wheels and am happy to travel upto 25miles to meet the lawyer.
You can use the facility on this website. Please choose the lender and your location and you will see a number of Aspley Guise conveyancing lawyers located nearest you. We have detailed some Aspley Guise conveyancing firms towards the end of this page and you can ring them to check if they are on the National Westminster Bank approved list
I've recently bought a leasehold house in Aspley Guise. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Aspley Guise Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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The best form of lease arrangement is a share of the freehold. In this scenario the tenants have control and although a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. This information is useful as a) areas can cause problems in the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will want to know about it Most Aspley Guise leasehold properties will be liable to pay a service bill for maintenance of the block set on behalf of the landlord. Where you buy the flat you will have to meet this charge, normally periodically accross the year. This can vary from a few hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a ground rent for you to pay yearly, normally this is not a large sum, say about £50-£100 but you should to check as sometimes it could be many hundreds of pounds.
What are my options where I am unhappy with the solicitor who handled our conveyancing in Aspley Guise?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that occasionally matters do not go as planned. That being said there is recourse if you were unhappy with your conveyancing in Aspley Guise. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If you remain dissatisfied you may consider enlisting the help of the Legal Ombudsman.