I'm in the process of changing my current homeowner mortgage to a Buy to Let Barclays mortgage. The bank has said that I need a conveyancer as part of the process. I got in contact with my former Winchmore Hill conveyancing practitioner who acted on my behalf when I originally purchased the house. The costs illustration issued of £470 is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The quote is fractionally on the steep side. If you shop around you might reduce the fees marginally by as much as £100 plus VAT. That being said, if you were satisfied with the assistance the firm offered you couldcome to rue opting for an an unknown lawyer. Remember to be sure the conveyancer can represent Barclays . You can utilise our search tool to choose a Winchmore Hill conveyancing firm on the Barclays approved list of lawyers, which can often include conveyancing solicitors in Winchmore Hill.
About to place an offer on a leasehold apartment in Winchmore Hill. The estate agents tell me that it is standard for flats in Winchmore Hill to have less than 75 years unexpired on the lease. I am getting a mortgage with The Mortgage Works. Will the property be mortgageable given that the lease has 72 years unexpired.
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 20/2/2025 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.
I am helping my step-mother sell her house in Winchmore Hill. Will the conveyancer order an energy performance certificate or it is for the seller to see to?
Following the abolition of Home Information Packs, energy assessments was kept a compulsory component of moving house. An energy performance certificate should be commissioned in advance of the property being marketed. This is not something that solicitors normally arrange. Where you are using a Winchmore Hill conveyancing solicitor they might be able to arrange energy performance certificates given their relationships with long established local providers
I am due to move home in April. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you suggest a removal company in Winchmore Hill. Conveyancing lawyer was found before I stumbled across this site.
On the afternoon of completion you will need to pick up the keys from your estate agent but this should only be done after the previous owners conveyancers inform the agent that they acknowledge receipt of the completion payment and the keys can be passed over. After that you can advise the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in finding a conveyancing in Winchmore Hill or a lawyer with expertise in conveyancing in Winchmore Hill.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Winchmore Hill bank branch on numerous occasions and was told it wasn't an issue and they would lend. My Winchmore Hill conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancing practitioner is on the lender panel, they must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have a renovated Georgian house in Winchmore Hill. Conveyancing practitioner acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Winchmore Hill and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing solicitor who completed the work.
I'm remortgaging my current home to a buy to let loan with TSB and I will use the rest of the raised equity as a down payment on a second property. The area we are looking at is Winchmore Hill. Will your solicitors be able to act for both sets of lenders and tie in the transactions?
Make use of our comparison tool on this page to be sure that the solicitors are approved by both mortgage companies. Assuming that they are your lawyer should be able to simultaneously deal with the two deals but you should have a chat with you lawyer and specify your desired outcome and requirements.
I am contemplating instructing an online lawyer as opposed to a Winchmore Hill conveyancing firm. Should I ‘stay local’?
Various benefits exist in having the opportunity to pop in to a local Winchmore Hill conveyancing solicitor for instance
- signing documents same day
- getting one on one explanations of matters that you need help with
- the ability to raise concerns if things go pear-shaped
When comparing fees, look out for hidden extras. Most decent Winchmore Hill high street solicitors give an all-inclusive price. Many online agents appear to offer low cost prices, but have burried 'extras' in the fine print.