IfI was to buy a simple residential housein Holland Park for cash and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Holland Park?
Any savings you would achieve would be isolated to the disbursement for searches. Your solicitor is required to do the vast majority of work - money laundering, correspond with your sellers conveyancer, SDLT return, register the property etc. You might save a bit for them not needing to register a charge however it won't be significant.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Holland Park is where the house is located. Can you shed any light on this issue?
Flying freeholds in Holland Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Holland Park you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Holland Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
In my capacity as executor for the estate of my uncle I am selling a property in Newport but I am based in Holland Park. My solicitor (who is 235 miles awayhas requested that I sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Holland Park to witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Holland Park
I work for a reputable estate agency in Holland Park where we have experienced a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Holland Park conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Holland Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension decision for a Holland Park flat is 2 Grove House 95 Addison Road in October 2013. the Tribunal decided that the premium to bepaid for a new lease is £50,050. This case was in relation to 1 flat. The unexpired term was 68.4 years.
What if there is an issue with the searches conducted as part of our conveyancing in Holland Park?
Ordinarily, almost all adverse entries that arise in Holland Park conveyancing search results can be dealt with in advance of completion or indemnity insurance may be put on cover. You should note that although you intend on acquiring the property and might be content to live with the search results, your lender may not, and when all said and done have the final decision.