I have Fifty Six years left on my lease and need a lease extension for my flat in Wooburn Green. 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 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 9/9/2025 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 just acquired a house at auction in Wooburn Green. Conveyancing is necessary. What is next?
Given that you are now exchanged you will need to instruct a conveyancing lawyer soon as you will have a fast approaching a drop dead date to complete the purchase. All auction property will have a bespoke legal pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am currently in the process of buying my council flat in Wooburn Green. I have a mortgage offer with Clydesdale. 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 Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
After what seems like an age I have had an offer on an apartment in Wooburn Green agreed to, the sellers do nevertheless have a tied purchase. The owners have put an offer on on an apartment, however it’s not yet tied up, and are looking at other flats in the pipeline. I have selected a local conveyancing solicitor in Wooburn Green. What do I do now? At what stage do I apply for the mortgage with Co-operative?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Wooburn Green conveyancing search costs, etc). The first thing to do is ensure that your lawyer is on the Co-operative approved list. As to the subsequent steps this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. During a buoyant market the majority of buyers will apply for the mortgage with Co-operative and pay for the valuation and only if it was satisfactory would they ask their solicitor to press on with searches.
I am buying a new build apartment in Wooburn Green. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wooburn Green
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Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
My husband and I are a fortnight into a freehold purchase having been referred to solicitors by the high street agent to perform conveyancing in Wooburn Green. I am am extremely disappointed with the level of service. Could you help me find new lawyers?
A solicitor would have to be really poor to suggest replacing them. Has the mortgage been sent? In the event that it has you will need to inform them of the new contact details and get the loan are issued to the new lawyers. Your new conveyancer should be on the mortgage company approved list to avoid escalating charges and frustration. So that should be your starting point. Our find a solicitor tool will assist you in finding a bank approved conveyancer for your home move in Wooburn Green
I've recently bought a leasehold flat in Wooburn Green. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a split level flat in Wooburn Green, conveyancing having been completed 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Wooburn Green with over 90 years remaining are worth £201,000. The ground rent is £45 per annum. The lease ceases on 21st October 2090
With just 65 years remaining on your lease the likely cost is going to span between £13,300 and £15,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Is it true that a Wooburn Green conveyancing practice got sued by a client for not carrying out comprehensive conveyancing investigations?
We are not aware of such a Wooburn Green conveyancing matter but according to a recent report, clients buying a house elsewhere in England successfully won a claim against their lawyer as a consequence of development plans to construct a wind farm not being picked up in conveyancing searches.
If you are contemplating buying a home in Wooburn Green It is essential that your solicitor carry out all Wooburn Green conveyancing searches necessary to ensure you have relevant and up to date information before acquiring a property.