What is the first thing I need to know regarding purchase conveyancing in Manor House?
Not many law firms or advisers will tell you this but conveyancing in Manor House or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the legal transfer of property. E.g., the vendor, selling agent and on occasion the lender. Choosing a solicitor for your conveyancing in Manor House an important selection as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to act in your legal interests and to keep you safe.
Sometimes a potential adversary will attempt to convince you that it is in your interests to do things their way. As an example, the estate agent may claim to be assisting by suggesting your solicitor is wrong. Or your financial adviser may advise you to do take action that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
About to place an offer on a leasehold property in Manor House. The estate agents tell me that it is normal for flats in Manor House to have less than 75 years left on the lease. I am obtaining a loan with Nationwide Building Society. Is this going to be a problem if the lease has 70 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting 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 1/9/2025 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.
A colleague advised me that in buying a property in Manor House there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in Manor House which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Manor House should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to move home in November. Should my conveyancing solicitor call the removal company on the completion day. On a separate note, can you put forward a removal company in Manor House. Conveyancing solicitor was organised prior to coming across this page.
On the afternoon of completion you will need to pick up the house keys from the selling agent however this can only be done once the sellers lawyers inform the agent that they have the completion monies and the keys can be given over. After that you will need to advise the removal company that they can start moving you in. We do not suggest a particular removal organisation but can help you locate a residential property solicitor in Manor House or a lawyer with expertise in conveyancing in Manor House.
Is there a list of Nottingham panel conveyancers in Manor House on the Council of Mortgage Lender’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 visible online. Where you are seeking to appoint a Manor House property lawyer on the Nottingham please make the most of our facility.
I note that there are debates on Chancel Insurance on online forums. Do I need this when buying a house in Manor House? or I am told that there is a law dating back centuries that could mean that homeowners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this applicable for conveyancing in Manor House?
Unless a prior purchase of the property completed post 12 October 2013 you may assume that solicitors carrying out conveyancing in Manor House to remain recommending a chancel search and or chancel repair liability insurance.
I have been on the look out for a flat up to £235,500 and found one near me in Manor House I like with a park and station nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Manor House in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I am tempted by the attractive purchase price for a two maisonettes in Manor House which have approximately forty five years remaining on the lease term. Do I need to be concerned?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
I have had difficulty in trying to purchase the freehold in Manor House. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Manor House conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Manor House flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case related to 1 flat. The number of years remaining on the existing lease(s) was 71 years.