Our conveyancer has identified a a problem with the lease for the property we are buying in Cobham. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must ensure that the bank is happy with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions have to be complied with.
I have Fifty Six years remaining on my lease and require a lease extension for my flat in Cobham. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions correct?
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. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/4/2026 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 Cobham. Conveyancing is required. What are my next steps?
Having for all intents and purposes signed on the dotted line you now have to appoint a conveyancing lawyer soon as you are facing a fast approaching a drop dead date to complete the property. All auction property will have an associated legal pack. This will likely include evidence of title and search results. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should hand this to the conveyancer working for you ASAP. You also need to ensure that you have funds organised to complete on the on the contractual date .
Can I be sure that the Cobham conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Cobham obtaining recommendations is a good 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 suggest that you speak with the solicitor conducting your transaction.
Co-operative have agreed my home loan in principle, my bid on a apartment in Cobham has been accepted, what happens next?
The estate agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s approved list). Telephone Co-operative or your financial adviser and complete any relevant paperwork. Co-operative will instruct a valuer who will get in contact with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Co-operative will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cobham.
I am buying my first flat in Cobham benefiting from help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my solicitor about this side-deal as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How easy is it to switch solicitor as I have to select a firm on the The Mortgage Works conveyancing list. I hired a family conveyancing solicitor in Cobham five minutes from me but the firm is not approved by The Mortgage Works
It would be our pleasure to help you select a conveyancing solicitor in Cobham on the The Mortgage Works panel. Please note that the property lawyers that we list do not pay us fee if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Cobham. In utilising search facility on this website, you can contrast fees for conveyancing solicitors in Cobham and beyond.
I am four weeks into a freehold purchase having been recommend to solicitors by the selling agent to perform conveyancing in Cobham. I am not happy. Could you help me find new conveyancers?
A conveyancer would need to be really bad to suggest diss instructing them. Has the loan offer been issued? In the event that it has you will need to inform them of the new contact details and ensure the offer are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid added expenses and frustration. That should be your first question of the new lawyers. The find a solicitor tool can assist you in finding a bank approved conveyancer for your conveyancing in Cobham