Our family solicitor has sent a quote for just over a thousand pound for no sale no fee conveyancing in Penshaw. I am hoping to sell a purpose built house for £300,000. This sounds over the top. Is it in excess of what I should be paying for conveyancing in Penshaw?

The charges are a tad high. If you shop around you may be able to reduce the fees slightly by say a hundred pounds. That being said, you couldlive to rue opting for an an unknown lawyer. Don't forget to be sure that the conveyancer can represent your mortgage company. Do make use of our comparison tool to locate a Penshaw conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Penshaw.

I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Penshaw. My lender is Nationwide Building Society

Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/2/2026, the requirements read as follows :

Due to the advice of my in-laws I had a survey completed on a property in Penshaw before appointing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some banks tend refuse to grant a mortgage on a flying freehold house.

It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist 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 regularly deal with such properties in Penshaw.

I am tempted by the attractive purchase price for a two flats in Penshaw which have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Penshaw is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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.

Penshaw Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

You should be aware that where the lease has fewer than 80 years it will impact the salability of the flat. Check with your bank that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth finding out how much this will be. For most Penshawlease extensions you will be be obliged to have been the owner of the residence for 24 months in order to be eligible to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments? Be sure to find out if there is anything that is prohibited in the lease. By way of example it is very common in Penshaw leases that pets are not permitted in in a block in Penshaw. If you love the apartmentin Penshaw however your cat is not allowed to live with you then you have a very difficult decision.

When it comes to my conveyancing in Penshaw should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee

(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Penshaw conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.