It has been 3 months following my purchase conveyancing in Penn completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 property 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'm buying a new build house in Penn benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my solicitor about the deal as it could put at risk my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the guidance of my in-laws I had a survey completed on a property in Penn ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks tend not give a mortgage on a flying freehold premises.

It varies from the lender to lender. HSBC has different requirements for example to Halifax. 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 help as they are used to dealing with flying freeholds in Penn. Conveyancing will be smoother if you use a solicitor in Penn especially if they are accustomed to such properties in Penn.

Do you have any advice for leasehold conveyancing in Penn from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Penn can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ solicitors.
A minority of Penn leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (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. You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Penn leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer before hand.

I am the registered owner of a split level flat in Penn, conveyancing having been completed April 2008. How much will my lease extension cost? Equivalent flats in Penn with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2074

With 50 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should 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 clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

How up-to-date is your database of lawyers on the bank conveyancing panel in Penn? Do the mortgage companies send you an updated list?

Penn firms and firms conducting conveyancing in Penn themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.