Can you explain why leasehold purchase conveyancing in Penrith is more expensive?
Penrith leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
About to place an offer on a leasehold property in Penrith. The estate agents assure me that it is usual for flats in Penrith to have less than 75 years unexpired on the lease. I am taking out a mortgage with Bank of Ireland. Is this going to be a problem if the lease has 69 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/4/2025 the requirements read as follows :
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a ground floor flat in Penrith. Do I receive the keys to the house on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Penrith?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the owner’s solicitors, and once they have received this, you should be invited to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
We had appointed conveyancing lawyers with offices in Penrith on the Nottingham solicitor approved list. They have just billed me a supplemental sum for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. This fee is not dictated by Nottingham but by your Penrith conveyancing practitioner. Some firms on the Nottingham panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Skipton are being difficult. The Penrith solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
three months have gone by since my purchase conveyancing in Penrith concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Penrith I like with open areas and transport links in the vicinity, however it's only got 61 years on the lease. There is not much else in Penrith in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I am downsizing from my house. My previous lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Penrith if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in Penrith. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.