About to place a bid on a leasehold property in Rickmansworth. The property agents advise that it is standard for flats in Rickmansworth to have less than 75 years unexpired on the lease. I am expecting a loan with Virgin. Will the property be mortgageable given that the lease has 72 years remaining.
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. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/12/2025 the requirements read as follows :
Are there restrictive covenants that are commonly identified as part of conveyancing in Rickmansworth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Rickmansworth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How do I use the search tool to get a fee calculation from a conveyancing practitioner in Rickmansworth on the approved list for my lender?
1st pick a lender such as Santander, Barnsley Building Society or Godiva Mortgages Ltd then type in your preferred area for example Rickmansworth. Conveyancing practices in Rickmansworth and nationally will then be shown.
Do you have any advice for leasehold conveyancing in Rickmansworth with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Rickmansworth can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ conveyancers. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Rickmansworth leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Where you dont have the approvals in place do not contact the landlord without contacting your conveyancer before hand. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled. Some Rickmansworth leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
I have had difficulty in trying to purchase the freehold in Rickmansworth. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Lease Extension matter before the tribunal for a Rickmansworth property is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The remaining number of years on the lease was 71 years.
Is there a distinction between surveying and conveyancing in Rickmansworth?
Conveyancing - in Rickmansworth or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to remedy the problems before you move in.