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Find a Rickmansworth Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Rickmansworth? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Rickmansworth transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Rickmansworth conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Rickmansworth

Please could you recommend a Nationwide Building Society approved Rickmansworth conveyancing solicitor who can have us moved in within 28 days? Would it be better to use a local Rickmansworth firm or a nationwide conveyancer?

We can recommend some very good Rickmansworth conveyancing firms. Another option is to visit the high street in Rickmansworth. Approach two or three law practices and ask to see a conveyancing solicitor for a quote. Explain your requirements together with your reasons and ask for an assurance on your deadline. Choose the one that appears most efficient.

I have 70 years unexpired on my lease and need a lease extension for my apartment in Rickmansworth. Conveyancing solicitors on the Nationwide Building Society panel can deal with such extensions correct?

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. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/7/2019 the requirements read as follows :

- Our minimum unexpired lease term is 55 years.
- There must be at least 30 years remaining at the end of the mortgage term (regardless of the length of lease at the start).

Ground Rents and event fees must be reasonable at all times during the term of the lease. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us for Valuer consideration. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Issuing Office (Will be declined):
- Unexpired lease term <55 years
- <30 years remaining at the end of the mortgage term
- Ground Rent >0.5% of the property value
- Ground Rent doubles <every 20 years (e.g. doubles every 5, 10 or 15 years)
- Ground Rent is compounded RPI
- Ground Rent review period ≤5 years

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 55 to 85 years
- Ground Rent >0.1% and ≤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 >5 and <10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial, etc
- Estate Rent Charges >£500 p/a (please provide details of what the charges cover)
- Service Charges >0.5% 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 >85 years
- Ground Rent ≤0.1% of the property value
- Ground Rent review period ≥10 years
- Ground Rent escalation ≤RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Issuing Office (Will be declined)
- Unexpired lease term <125 years on a new build flat or <250 years on a new build house (does not apply to Shared Ownership)
- Starting Ground Rent >0.1% of the property value
- Ground Rent review period ≤ 5 years
- Ground Rent doubles < every 20 years (e.g. doubles every 5, 10 or 15 years)
- Ground Rent is compounded RPI

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges >£500 p/a (please provide details of what the charges cover)
- Service Charges >0.5% 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 ≥125 years on a new build flat or ≥250 years on a new build house
- Starting Ground Rent ≤0.1% of the property value
- Ground Rent review period >5 years
- Ground Rent escalation ≤RPI

* 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

When it comes to lenders such as Lloyds, do Rickmansworth lawyers have to pay an annual charge to be on the list of approved solicitors?

We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

Is there a list of Leeds Building Society panel solicitors in Rickmansworth on the Council of Mortgage Lender’s Website?

No. There is no such directory service on the CML or Building Society Association sites. Very few lenders make their panel listings visible over the internet. If you are looking for a Rickmansworth conveyancer on the Leeds Building Society please use our facility.

I am buying a property in Rickmansworth. One unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As your lender is Yorkshire BS your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Yorkshire BS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not restricted to Rickmansworth.

Am I best advised to appoint a Rickmansworth conveyancing lawyer who is local to the property I am hoping to buy? An old friend can perform the legal work however her office is a couple of hundredmiles away.

The primary upside of using a high street Rickmansworth conveyancing firm is that you can drop in to sign paperwork, deliver your ID and pester them where appropriate. They will also have local insight which is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were happy that should trump using an unfamiliar Rickmansworth conveyancing lawyer solely due to them being round the corner.

Back In 2009, I bought a leasehold flat in Rickmansworth. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Rickmansworth who previously acted has long since retired. Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Rickmansworth conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Rickmansworth. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price payable.

An example of a Lease Extension decision for a Rickmansworth flat 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 was in relation to 3 flats. The unexpired term was 71 years.

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