I am progressing with the sale of my house in Yarmouth and the EA has just e-mailed to advise that the purchasers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. On what basis would a leading lender only work with certain solicitors rather the firm that they want to choose for their conveyancing in Yarmouth ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Finally the sale completed on my house in Yarmouth last June but our buyer keeps Skype messaging me to moan that his lawyer is waiting to hear from myconveyancer. What should have happened now that I have sold?
After completion of your sale your conveyancer should forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also send confirmation that the mortgage has been discharged to the buyers lawyers. There is unlikely to be post completion procedures specific conveyancing in Yarmouth.
About to place a bid on a leasehold flat in Yarmouth. The selling agents say that it is normal for flats in Yarmouth to have less than 75 years remaining. I am getting a loan with The Mortgage Works. Is this going to be acceptable if the lease has 72 years left.
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 26/9/2026 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.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The lawyers who conducted the conveyancing in Yarmouth 5 years ago are no longer around. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your lawyer will be aware exactly where to look for all the suitable documentation so you can purchase or sell your house without a hitch. If copies are not available, your lawyer can arrange cover in the form of insurance or indemnities protecting you against possible claims on your property.
I am using a search engine for the term cheap conveyancing in Yarmouth it shows results of numerous property lawyerslocally. How do I determine which is the right solicitor for purchase transaction?
The best way of seeking a suitable conveyancer is via personal recommendation, so ask colleagues and relatives who have bought a property in Yarmouth or the respected estate agent or financial adviser. Costs for conveyancing in Yarmouth differ, so it's a good idea to obtain at least three costs illustrations from different conveyancers. Dont forget to clarify what costs in the quote includes.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200,000 apartment in Yarmouth on Monday in a week. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Yarmouth?
Yarmouth conveyancing on leasehold apartments usually involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Yarmouth Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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Is the freehold reversion owned jointly by the tenants? Does the lease include onerous restrictions? The majority of Yarmouth leasehold flats will incur a service bill for the upkeep of the building set on behalf of the management company. If you acquire the flat you will have to pay this amount, usually in instalments accross the year. This can vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a large amount, say approximately £25-£75 but you should to enquire as sometimes it can be many hundreds of pounds.