My husband and I are purchasing an apartment in Murton. My property lawyer has never been on on the bank approved panel. Is it possible for me to continue with my Murton conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
You have a couple of choices available to you here
- Carry on with your existing Murton solicitor but your lender will no doubt instruct a property lawyer from their approved panel. The net result is additional charges and probable interruption.
- Get a new solicitor to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Appeal to your conveyancing practitioner to apply to join the mortgage company panel
I purchased a freehold house in Murton but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Murton and has limited impact for conveyancing in Murton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I have 70 years unexpired on my lease and require a lease extension for my flat in Murton. Conveyancing solicitors on the Nationwide Building Society panel can deal with such extensions correct?
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 25/2/2025 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.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a garden flat in Murton. Do I collect the keys to the property on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Murton?
On the day of completion you will not be required to go to the conveyancers office in Murton. Your solicitors will arrange to send the purchase money to the vendor’s conveyancers, and once they have received this, you will be invited to receive the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
Can you point me to a directory of Clydesdale panel solicitors in Murton on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings viewable over the internet. If you are looking for a Murton conveyancing practitioner on the Clydesdale please make the most of our tool.
I'm spending time viewing houses in Murton and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Coventry BS.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Murton is where the house is located. Can you offer any advice?
Flying freeholds in Murton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Murton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Murton may determine 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 property.
My business partner and I are intending to lease a unit on the high street. Can you recommend lawyers offering competitive fees for non-domestic conveyancing in Murton for under £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Murton, including the disposal and acquisition of businesses as well as simply premises. If you are hoping to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. As for the costs these will vary based on the structure and terms of the deal. Please provide us with your contact information or phone so as to enable us to supply you with a detailed commercial conveyancing calculation.