It sounds like your purchase price effectively includes the premium for the extension, so

I'd say you'd probably be best advised to wait until the new lease is not only agreed but also registered at Land Registry before exchanging & completing. I don't imagine that this is an absolute requirement however (particularly given your lender's position), and if on balance you choose to proceed so as not to lose your purchaser then this may well be fine.

If you've got your LPE1 form and this hasn't thrown up any issues, plus any consents have been dealt with, then I would imagine the purchase would proceed as any other freehold purchase. The only other possible issue will be regarding EWS1, although by the sound of it this doesn't apply or your mortgage lender would have said so.

Posted By: NxNW, Jun 1, 13:01:57