It has taken forever and a day but a loan agreement from Santander for the refinancing of my 3 room maisonette is coming any day now. Can you propose a low cost conveyancing law firm in Shrivenham?
This site is not designed to aid those in pursuit of a cheap conveyancing in Shrivenham. We can offer you affordable conveyancing but our intention is not to work with the cheapest lawyers. Resist the temptation to appoint organisations offering ninety nine pound conveyancing in Shrivenham. At best, in deciding on low cost conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in additional fees and still not end up with the service expected.
We have rather brash sellers who has suggested a lock out agreement with a non-refundable deposit 6,000. Are such agreements sensible?
Exclusivity contracts are agreements between a property owner and purchaser granting the buyer a ‘clear field’ to the sale of the premises for a certain period of time. Essentially, an exclusivity is a document stating that you will have a contract at a later time being the main conveyancing contract. It is generally used for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are many pros and cons to having an agreement but you need to check with your lawyer but note that it may end up incurring more in conveyancing charges. In light of these reasons these agreements are unusual in relation to conveyancing in Shrivenham.
I have just over seventy years unexpired on my lease and require a lease extension for my apartment in Shrivenham. 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 10/8/2025 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.
I purchased my flat on 3 August and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Shrivenham expressed confidence that it will be registered in a couple of weeks. Are transfers in Shrivenham uniquely lengthy to register?
There is nothing unique about conveyancing in Shrivenham registration formalities. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. As of today in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Registration is effected after the purchaser is living at the property therefore post completion formalities is not always primary concern but if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
Due to the encouragement of my in-laws I had a survey completed on a house in Shrivenham in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend not issue a mortgage on such a home.
It depends who your proposed lender is. HSBC has different instructions from Halifax. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shrivenham. Conveyancing will be smoother if you use a solicitor in Shrivenham especially if they are accustomed to such properties in Shrivenham.
What makes a Shrivenham lease problematic?
There is nothing unique about leasehold conveyancing in Shrivenham. All leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
Shrivenham Leasehold Conveyancing - Sample of Questions you should ask before buying
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Is there a share of the freehold? Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Shrivenham obliged leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance. How much is the maintenance charge and ground rent on the property?