Hebden Royd is a civil parish with a town council in the Metropolitan Borough of Calderdale in West Yorkshire, England. According to the 2001 census it had a population of around 9,000.It includes Hebden Bridge, Mytholmroyd and Cragg Vale.
The reason why this parish is relevant to conveyancers is because Nationwide has identified this as the only area in the UK where they will lend on freehold flats. In a change to Section 5.6.1b of Nationwide’s Part 2 of the Handbook on the 10th January, the lender added properties in the parish as an exception to their general decision not to lend on freehold flats.
In answer to the question “Does the lender lend on freehold flats?” The new Section 5.6.1b now reads:
Generally no Exceptions-
i) see 5.7.1
ii) coach house flats - where there is one flat in a block built above garages and/or an access way there is no need to report details to us.
If there is an element of flying freehold - the requirements in part 1 paragraphs 5.6.2 must be adhered to.
Insurance - where the purchaser arranges insurance on more than one garage or garages owned/used by other parties, please ensure that the insurance company is aware of the arrangements.
iii) for properties in the parish of Hebden Royd see 5.6.1a above.
LENDERmonitor provides conveyancers with a subscription service that sends out email alerts advising when a lender makes a change to their policy. The recipient is then able to click through from the email to see the change in more detail on the LENDERmonitor website.
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