Having invested time looking at consumer advice sites for a cheap lawyer in Penshaw, many advise that I should use a CQS assured solicitor. Can you explain what CQS is?

Penshaw Conveyancing Quality Scheme law firms have achieved accreditation under the Law Society's Scheme (CQS) CQS was established to promote high standards in the in the legal transfer of properties. CQS enables consumers to recognise solicitor firms that provide a quality residential conveyancing. Penshaw is one of locations in England and Wales in which accredited firms are based. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.

Me and my brother own a 4 bedroom Edwardian house in Penshaw. Conveyancing solicitor represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??

You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Penshaw and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing practitioner who conducted the purchase.

How does conveyancing in Penshaw differ for new build properties?

Most buyers of new build or newly converted property in Penshaw contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Penshaw typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Penshaw or who has acted in the same development.

Due to the guidance of my in-laws I had a survey completed on a property in Penshaw before appointing solicitors. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may not grant a loan on a flying freehold property.

It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penshaw. Conveyancing will be smoother if you use a solicitor in Penshaw especially if they are accustomed to such properties in Penshaw.

I am looking at a couple of maisonettes in Penshaw which have in the region of fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Penshaw is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Penshaw conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I acquired a 2 bed flat in Penshaw, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Penshaw with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2085

With just 60 years unexpired we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.