We are buying a newly built apartment in Llansamlet and my solicitor is telling me that she is duty bound to the bank to reveal incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should conveyancers request an advanced payment when it comes to conveyancing in Llansamlet?
Where you are retaining lawyers for conveyancing in Llansamlet your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the conveyancing searches. When the down payment is as part of the purchase price then this will be needed immediately ahead of exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
I have 71 years remaining on my lease and require a lease extension for my apartment in Llansamlet. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions right?
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 5/3/2026 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.
I am helping my sister sell her property in Llansamlet. Will the solicitor commission an EPC or do I organise this?
After the abolition of HIPs, energy assessments was kept a mandatory element of moving property. An energy performance certificate needs to be commissioned in advance of the property being put on the market. It is not something that solicitors normally organise. If you are instructing a Llansamlet conveyancing lawyer they might help arrange energy assessments due to their relationships with reputable Llansamlet providers
Does a directory service exist listing Co-operative panel solicitors in Llansamlet on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings viewable online. Where you are in need of a Llansamlet solicitor on the Co-operative please use our facility.
I am expecting a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Llansamlet solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Llansamlet solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Have purchased a a terraced house in Llansamlet , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Llansamlet conveyancing solicitor has been very slow, so I want to be certain that my ownership is recorded.
As far as conveyancing in Llansamlet is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. As of today in the region of 80% of such applications are fully addressed in less than three weeks but some can be subject to extensive delays. Historically registration takes place once the purchaser is living at the premises thus 'speed' is not usually an essential issue but where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
We're first time buyers - agreed a price, but the estate agent advised that the vendor will only issue a contract if we appoint the agent's preferred solicitors as they want an ‘expedited deal’. We would rather use a local solicitor used to conveyancing in Llansamlet
It is highly unlikely the owners are driving this. Should the seller want ‘a quick sale', turning down a serious purchaser is counter productive. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your preferred Llansamlet conveyancing solicitors - as opposed tothe ones that will earn their estate agent a referral fee or meet his conveyancing thresholds set by corporate headquarters.