Me and my husband are acquiring a flat in Thornbury. My lawyer is not on the mortgage company conveyancing list. Am I still permitted to use my Thornbury conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
You have a couple of choices open to you here
- Complete the deal with your preferred Thornbury solicitor but your bank will no doubt appoint a solicitor on their approved list. The net result is additional fees together with likely delay.
- Choose a new solicitor to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the lender panel
I am about to put a bid on a leasehold apartment in Thornbury. The property agents assure me that it is normal for flats in Thornbury to have less than 75 years left on the lease. I am taking out a mortgage with Nationwide Building Society. Will the property be mortgageable given that the lease has 69 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 1/1/2026 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.
I am helping my sister sell her flat in Thornbury. Does the conveyancing solicitor order an energy performance certificate or should I organise this?
Following the abolition of HIPs, EPC’s remained a compulsory component of moving property. An energy performance certificate must be commissioned in advance of the property being advertised. This is not a task that law firms normally organise. If you are instructing a Thornbury conveyancing solicitor they may be willing to arrange EPC’s due to their contacts with long established local energy assessors
Can I be sure that the Thornbury conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Thornbury getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.
I had a mortgage agreed in principle with UBS. Thornbury conveyancing practitioners are instructed. How long does it take for UBS to issue the offer to the lawyer?
There is no definitive answer here. Have UBS done the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm purchasing my first flat in Thornbury with a mortgage from Nottingham Building Society. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my conveyancer about the deal as it would affect my loan with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In sourcing the world wide web for the words conveyancing in Thornbury it shows results of many conveyancerslocally. With so much choice what is the best way to find the right conveyancing solicitor for purchase transaction?
The preferential way of choosing a suitable conveyancer is through a trusted referral, so enquire of friends and relatives who have purchased a property in Thornbury or the respected estate agent or financial adviser. Charges for conveyancing in Thornbury vary, so it's sensible to request at least three estimates from varying types of companies. Dont forget to clarify that the fees are fixed.
What advice can you give us when it comes to appointing a Thornbury conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Thornbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Thornbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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If the firm is not ALEP accredited then what is the reason? Can they put you in touch with clients in Thornbury who can give a testimonial?
I bought a studio flat in Thornbury, conveyancing formalities finalised May 2009. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Thornbury with a long lease are worth £170,000. The ground rent is £50 per annum. The lease ends on 21st October 2104
With just 78 years left to run we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.