About to place a bid on a leasehold apartment in Tooting. The selling agents assure me that it is usual for flats in Tooting to have less than 75 years remaining. I am obtaining a mortgage with The Mortgage Works. Is this going to be a problem if the lease has Seventy One years to go.
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. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/2/2026 the requirements read as follows :
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
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 70 years
- 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 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 70 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 1.0% 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
- 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
- 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 reviewed and altered on any review basis or methodology
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 1.0% 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 the 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.
Should our conveyancer be making enquiries about flooding as part of the conveyancing in Tooting.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Tooting. There are those who acquire a property in Tooting, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Tooting. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to determine if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer may bring a legal claim for losses resulting from an incorrect answer. The purchaser’s solicitors should also order an enviro report. This will higlight if there is a recorded flood risk. If so, more detailed investigations should be conducted.
I am purchasing a new build house in Tooting with the aid of help to buy. The builders would not budge the price so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my solicitor about this extras as it may affect my loan with the lender. Is this normal?.
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.
I am looking to sell my property. My former solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Tooting if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Tooting. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
We're first time buyers - had an offer accepted, but the selling agent advised that the vendor will only move forward if we instruct their chosen solicitors as they want an ‘expedited deal’. We would rather use a family conveyancer who is familiar with conveyancing in Tooting
We suspect that the owner is not behind this ultimatum. If they require ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Tooting conveyancing lawyers - as opposed tothe ones that will provide the estate agent a introducer fee or meet his conveyancing thresholds pre-set by HQ.
I note that you have a post code search directory identifying law firms on the bank conveyancing panel. Do Tooting conveyancing companies pay you a commission if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Tooting.