About to place an offer on a leasehold flat in Silvertown. The selling agents tell me that it is usual for flats in Silvertown to have less than 75 years unexpired on the lease. I am obtaining a mortgage with Nationwide Building Society. Is this going to be acceptable if the lease has 72 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing 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 13/4/2026 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.
My stepmother advised me that in buying a property in Silvertown there could be various restrictions preventing external alterations to the property. Is this right?
There are a number of properties in Silvertown which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Silvertown should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had chosen conveyancers located in Silvertown on the Skipton solicitor panel. They are now charging me an additional amount for handling the Skipton mortgage. Is this an additional conveyancing fee set by Skipton?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor can charge a fee for this. The charge is not set by Skipton but by your Silvertown lawyer. Numerous firms on the Skipton panel will quote ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I have decided to exercise my right to buy my property in Silvertown off the council. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I am buying a house and the solicitor has identified Chancel Repair to which the house could be obligated to pay given it’s proximity to the area of such a church. She has recommended insurance. Is this really necessary for conveyancing in Silvertown
Unless a prior purchase of the house took place after 12 October 2013 you may assume that lawyers conducting conveyancing in Silvertown to continue to propose a a chancel search and or insurance against a claim.
I completed on my home on 2 May and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Silvertown advises it would be registered in less than a month. Are properties in Silvertown particularly slow to register?
As far as conveyancing in Silvertown registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. As of today roughly three quarters of submission are fully dealt with within 12 days but occasionally there can be protracted delays. Historically registration is effected after the new owner has moved in to the property therefore an expedited registration is not always top priority yet if it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
I am a sole trader wishing to take an assignment of a lease of an office on the high street. Can you recommend solicitors offering fixed costs for non-domestic conveyancing in Silvertown for under £1,200?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Silvertown, including the sale and purchase of businesses as well as simply property. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or call us so that we may provide you with a detailed commercial conveyancing quote.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Silvertown. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Silvertown are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Silvertown in which case you should be shopping around for a Silvertown conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I am the leaseholder of a second floor flat in Silvertown. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Lease Extension case for a Silvertown residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired term as at the valuation date was 69.77 years.