We were about to choose a conveyancing solicitor in Astwood Bank found by you but stumbled across some other fee calculations on the internet look less pricey – why is this?
You can find numerous firms advertising supposedly cheap conveyancing, but extracharges end up with the completion invoice being inflated. Solicitors ought to ensure fees set out in terms of business should be equitable and be applied The law firms that we list for conveyancing in Astwood Bank specify all charges for a residential conveyancing transaction.
I am about to put an offer on a leasehold property in Astwood Bank. The property agents say that it is normal for flats in Astwood Bank to have less than 75 years unexpired on the lease. I am expecting a mortgage with Nationwide Building Society. Will the property be mortgageable given that the lease has 69 years unexpired.
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. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 24/11/2025 the requirements read as follows :
- There must be at least 30 years remaining at the end of the mortgage term (regardless of the length of lease at the start).
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
- Where lending is over 85% of the purchase price/valuation on a second hand flat and the unexpired lease term on the offer is 90 years or more - only advise us if the actual lease term is less than 90 years.
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 55 years
- Unexpired lease term less than 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat
- 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 is 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 55 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% 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 (Minimum 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat)
- 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 (does not apply to Shared Ownership)
- 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 charged which is more than on a peppercorn basis
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% 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 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.
I had a mortgage agreed in principle with Virgin Money. Astwood Bank conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money conducted the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Intending to buy a apartment in Astwood Bank. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Astwood Bank solicitor is on the UBS conveyancing panel.
I had an offer accepted on a house in Astwood Bank on 6/10/2025, valuation was booked five days later, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Astwood Bank is the location of the property. Can you offer any advice?
Flying freeholds in Astwood Bank are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Astwood Bank you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Astwood Bank may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Can you offer any advice when it comes to finding a Astwood Bank conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Astwood Bank conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Astwood Bank conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
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How experienced is the practice with lease extension legislation? How many lease extensions have they carried out in Astwood Bank in the last year?
Leasehold Conveyancing in Astwood Bank - Sample of Queries Prior to Purchasing
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What restrictions are there in the Astwood Bank Lease? It is important to be aware whether fixing the lift or some other major work is coming up to be shared amongst the leaseholders and will materially impact the level of the maintenance charges or result in a specific invoice. In the main the outlay for major works are not incorporated into the maintenance charges, although some managing agents in Astwood Bank require leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance.
My intention is to purchase a garden flat in Astwood Bank. Conveyancing solicitor is awaiting, from the owner, building insurance schedule. This morning I was advised that the vendor needs to forward the insurance paperwork for the flat above also. Why does my property lawyer want to check the insurance for the other flat? Is it strictly necessary? We have been in hold for the last month…
It is not unheard of in leasehold conveyancing in Astwood Bank to discover Conveyancing in Astwood Bank in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats as opposed to the landlord insuring the entire block - which is definitely preferable. Do clarify with your conveyancer but it would seem that your conveyancer is looking to verify that the entire building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed due to lack of insurance.