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Ready to buy a new home in Penge? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Penge transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Penge

Can you suggest a Barclays sanctioned Penge conveyancing lawyer that can complete within under 3 weeks? Am I best advised to unstruct a local Penge firm or a factory type comparison site?

We can recommend some very good Penge conveyancing firms. You can also walk up the main road in Penge. Go in to some well established firms and ask to see a conveyancing solicitor for a fee estimate. Explain your expectations together with the reasons and get a commitment on your deadline. Select the one that you trust.

I am the registered owner of a freehold property in Penge but still charged rent, why is this and what is this?

It’s unusual for properties in Penge and has limited impact for conveyancing in Penge but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

Due to the input of my in-laws I had a survey completed on a property in Penge ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some banks will refuse to issue a loan on this type of property.

It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penge. Conveyancing will be smoother if you use a solicitor in Penge especially if they are accustomed to such properties in Penge.

Do you have any advice for leasehold conveyancing in Penge with the purpose of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Penge can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ representatives.
  • Many landlords or managing agents in Penge levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Penge. Some Penge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Penge state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such works. If you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand. You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Penge. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.

An example of a Lease Extension case for a Penge premises is Flats 5, 9, 38 & 40 Blakewood Court Anerley Park in January 2012. the tribunal held that the premiums payable for the new lease sare: FLAT 5:- £7,130 FLAT 9:- £7,860 FLAT 38:- £15,867 FLAT 40: £14,834 This case affected 4 flats.

Do online conveyancing companies cover everything a local Penge solicitor does or must I retain a solicitor for the final stages for my conveyancing in Penge?

Where you instruct an online conveyancer they will cover all the things your Penge solicitor would cover.

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Find out more about how flying freehold can affect your the value of a property.