When does exchange of contracts take place for purchase conveyancing in West Brompton and do I need to attend the conveyancers branch?
If you are near to our conveyancing solicitors in West Brompton you are invited in to sign the paperwork. However, the firms we recommend supply countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you digitally. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the firm to address the formalities at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in West Brompton)to be in the office available at the end of the phone to exchange contracts.
I have just over seventy years unexpired on my lease and need a lease extension for my flat in West Brompton. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining 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 30/3/2025 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.
We are due to move property in June. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you recommend a removal company in West Brompton. Conveyancing lawyer was organised prior to coming across this website.
On the afternoon of completion you will need to collect the house keys from the selling agent but this should only be done once the previous owners conveyancers advise the agent that the monies to complete are in and the keys can be collected. Subsequently you should inform the removal men that you are ready to move in. We are not in a position to recommend a specific removal company but can assist you in finding a conveyancing in West Brompton or a lawyer that specialises in conveyancing in West Brompton.
We are getting the release of further funds on our mortgage from Barclays as we want to conduct improvements to our home in West Brompton. Are we obliged to choose a high street West Brompton solicitor on the Barclays conveyancing panel to deal with the legals?
Barclays would not normally appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a West Brompton lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Have completed on a a terraced house in West Brompton , What is the estimated time for the Land Registry to register my ownership? My West Brompton conveyancing solicitor has been very slow, so I want to check that my purchase is recorded.
As far as conveyancing in West Brompton is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry need to notify any interested parties. At present roughly 80% of submission are fully dealt with in less than three weeks but some can be subject to longer delays. Registration takes place after the buyer is living at the premises thus 'speed' is not typically top priority but where there is a degree of urgency associated with the registration then you or your lawyers must speak with the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a house in West Brompton in advance of appointing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will not give a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in West Brompton. Conveyancing may be slightly more expensive based on your lender's requirements.
I require the services of a bank panel solicitor in West Brompton. Can you assist?
Unfortunately it’s not apparent why you need a West Brompton panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in West Brompton are on their panel . If you do find such a firm in West Brompton not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site