I am about to put an offer on a leasehold apartment in Kirkby In Furness. The selling agents assure me that it is normal for flats in Kirkby In Furness to have less than 75 years unexpired on the lease. I am obtaining a loan with Nationwide Building Society. Will the property be mortgageable given that the lease has 72 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing 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 13/11/2026 the requirements read as follows :
- Our minimum unexpired lease term is 55 years, except where lending is over 85% of the purchase price/valuation on a second hand flat, in which case our minimum unexpired term is 90 years.
- 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 a proposed Lease Extension does not meet these requirements, however you feel that this is in the best interest for our mutual client, please refer all details to the Issuing Office for us to consider.
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 am aiming to move home in December. Should my conveyancing solicitor call the removal company on the completion day. As an aside, can you suggest a removal company in Kirkby In Furness. Conveyancing solicitor was organised prior to coming across your website.
On the day of completion you can collect the house keys from your property agent but this can only happen after the previous owners solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be given over. Subsequently you should tell the removal company that you are ready to move in. As a matter of policy we do not recommend a particular removal organisation but can help you find a conveyancing in Kirkby In Furness or a firm that specialises in conveyancing in Kirkby In Furness.
We are buying a 4 bedroom semi-detached house in Kirkby In Furness. We would like to carry out a loft conversion at the property.Will legal investigations on the property involve investigations to see if these alterations are allowed?
Your conveyancer should check the deeds as conveyancing in Kirkby In Furness will sometimes identify restrictions in the title documents which prevent certain changes or need the permission of another owner. Many extensions need local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
Can you help - my lawyer says that flying freehold insurance is necessary on my purchase. What is the level of cover for Kirkby In Furness conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Birmingham Midshires and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I used Stirling Law several years past for my conveyancing in Kirkby In Furness. Now, I need my documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Kirkby In Furness of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Kirkby In Furness is where the house is located. Is there any advice you can give?
Flying freeholds in Kirkby In Furness are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kirkby In Furness you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kirkby In Furness may decide 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 residence.
Do I need to be concerned about brokers that I am dealing with are recommending an online conveyancing firm rather than a local Kirkby In Furness conveyancing firm?
As with lots of service providers, often input from relatives can be extremely useful or valuable. Yet there are many players in a conveyancing deal; estate agents, financial adviser and banks may put forward lawyers to instruct. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the recommendation. You have the right to choose your own conveyancer. Don't forget that some lenders have an approved list of lawyers you are obliged to use for the mortgage aspect of your transaction.
I own a leasehold flat in Kirkby In Furness. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Kirkby In Furness who acted for me is not around. What should I do?
First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Kirkby In Furness conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Kirkby In Furness Leasehold Conveyancing - A selection of Queries before buying
-
Are there any major works in the near future that could add a premium to the service fees? Who are the managing agents? Make sure you enquire if there are any onerous prohibitions in the lease. By way of example it is fairly common in Kirkby In Furness leases that pets are not permitted in in a block in Kirkby In Furness. If you love the apartmentin Kirkby In Furness but your cat is not allowed to make the move with you then you will be faced hard compromise.