My wife and I are acquiring a brand new apartment in Poundbury and my lawyer is informing me that she has to the mortgage company to reveal incentives from the builder. I am under pressure to exchange contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why do I have to pay up front for my conveyancing in Poundbury?
If you are buying a property in Poundbury your lawyer will request that you put them with monies to cover the search fees. Ordinarily this is asked for to cover the fees of the conveyancing searches. When the down payment is as part of the sale price then this will be needed immediately before exchange of contracts. Any further balance that is due should be sent to your lawyer a few days ahead of the completion date.
About to place a bid on a leasehold apartment in Poundbury. The property agents tell me that it is usual for flats in Poundbury to have less than 75 years left on the lease. I am taking out a mortgage with Platform. Will the property be mortgageable given that the lease has 69 years left.
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. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/3/2026 the requirements read as follows :
How does conveyancing in Poundbury differ for newly converted properties?
Most buyers of new build premises in Poundbury contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Poundbury usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Poundbury or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Poundbury I like with a park and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Poundbury suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Poundbury and how can you help?
The 1954 Act provides protection to commercial lessees, giving them the dueness to apply to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Poundbury