I'm in the process of changing my current homeowner mortgage to a BTL Barclays mortgage. I was told by my mortgage that I must appoint a lawyer as part of the process. I spoke to the same Bootle conveyancing solicitor who who conducted the conveyancing when I originally acquired the house. The fee estimate supplied of £470 has shocked me as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The quote is fractionally on the expensive side. If you shop around you could shave off some of the cost by perhaps £100 plus VAT. That being said, assuming were content with the assistance the firm gave you mightlive to rue opting for an a cheaper conveyancer. Don't forget to enquire that the solicitor can also act for Barclays . You can employ our search tool to find a Bootle conveyancing firm on the Barclays conveyancing panel, which can often include conveyancing solicitors in Bootle.
We were just about to sign contracts for a leasehold flat in Bootle. We encountered a snag. The loan offer with Barnsley Building Society expires on 6/5/2025 but the owners are suggesting a completion date of 8/5/2025. Can one prolong the loan offer?
The person best placed to deal with your concern is your solicitors who will hopefully determine if they corresponding with the lender, vendor’s representatives, property agents or indeed all three based on what has happend in your conveyancing to date.
At what point does exchange of contracts happen for sale conveyancing in Bootle and am I required to be at the solicitors office?
If you are near to our conveyancing solicitors in Bootle you are welcome to attend to sign documents. However, the law practices we recommend offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you by post or email. The signing of the contract is not the critical part. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bootle)to be in the office at the appropriate time.
I am about to put a bid on a leasehold apartment in Bootle. The estate agents tell me that it is standard for flats in Bootle to have less than 75 years remaining. I am taking out a mortgage with Nationwide Building Society. Is this going to be a problem if the lease has 72 years remaining.
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 6/3/2025 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've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Bootle. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bootle ?
Most houses in Bootle are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Bootle in which case you should be shopping around for a Bootle conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
I acquired a 1st floor flat in Bootle, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Bootle with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2086
With only 61 years remaining on your lease the likely cost is going to span between £19,000 and £22,000 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 detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
Me and my partner are purchasing a leasehold property in Bootle. Conveyancing quotes are averaging around £1800. Does that seem right?
The average fee in 2014 for conveyancing in Bootle was £1,500 not including Stamp Duty and HM Land Registry charges.