When can the exchange of contracts take place for sale conveyancing in Slough and do I need to attend the solicitors office?
Where you are local to our conveyancing solicitors in Slough you are welcome to come in to sign the paperwork. That being said, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when dealing with you by post or email. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line simply enables the firm to officially exchange at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Slough)to be in the office available at the end of the phone to exchange contracts.
I am about to put an offer on a leasehold property in Slough. The selling agents assure me that it is normal for flats in Slough to have less than 75 years remaining. I am expecting a mortgage with Nationwide Building Society. Is this going to be a problem if the lease has Seventy One years left.
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. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/1/2026 the requirements read as follows :
- There must be at least 30 years remaining at the end of the mortgage term (regardless of the length of lease at the start).
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
- Where lending is over 85% of the purchase price/valuation on a second hand flat and the unexpired lease term on the offer is 90 years or more - only advise us if the actual lease term is less than 90 years.
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 55 years
- Unexpired lease term less than 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat
- 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 is 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 55 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% 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 (Minimum 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat)
- 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 (does not apply to Shared Ownership)
- 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 charged which is more than on a peppercorn basis
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% 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 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 the only beneficiary of my late grandmother’s estate and I have everything in my name now, including the my former home in Slough. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my property ownership will be regarded the same way as though I had purchased the property in December. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view mortgage companies take of it, depend on the bank as this requirement chiefly exists to pick up on subsales or the flipping of property.
My wife and I have arranged the release of further funds on our home loan from Nationwide as we wish to carry out improvements to our house in Slough. Do we need to select a bricks and mortar Slough solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide don't usually appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
Skipton have agreed my mortgage in principle, my offer on a house in Slough has been agreed to, what happens next?
The estate agent will want to be advised as to your lawyer's details (ensure that the property lawyers are on the lender’s panel). Telephone Skipton or the financial adviser and finalise any relevant paperwork. Skipton will sellect a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Skipton will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Slough.
I'm purchasing a new build house in Slough with the aid of help to buy. The developers refused to move on the price so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my solicitor about the side-deal as it would adversely affect my mortgage with Accord Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I better off to appoint a Slough conveyancing solicitor based in the location that I am hoping to buy? An old friend can handle the legal work but they are based approximately 350kilometers away.
The primary upside of using a high street Slough conveyancing firm is that you can drop in to sign paperwork, deliver your ID and pester them where appropriate. Having local Slough know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should surpass using an unknown Slough conveyancing lawyer just because they are round the corner.