I am acquiring a house for cash in Holland Park. I have lived for the last twelve years in Holland Park. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Holland Park conveyancing searches are at your discretion. Your lawyer will try and steer you, no-doubt strongly, that you should have searches done, but she has a professional duty to do this. One thing to take into account; if you are intend to sell the house in the future, it will be of interest to your prospective purchaser what the searches determine. There are plenty of instances where houses with functional issues can still reveal detrimental search results. A good conveyancing solicitor in Holland Park will be able to give you some sensible guidance here.
Please help - my lawyer says that lack of right of way insurance is necessary on my purchase. What is the level of cover for Holland Park conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
We had chosen conveyancers based in Holland Park on the Clydesdale solicitor approved list. They have just billed me an additional charge for the legal aspects of the Clydesdale mortgage. Is this an additional conveyancing fee specified by Clydesdale?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. This charge is not set by Clydesdale but by your Holland Park property lawyer. Numerous firms on the Clydesdale panel will quote ’dealing with mortgage’ fee and others do not.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Holland Park conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
2 months have gone by since my purchase conveyancing in Holland Park concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 premises 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.
Just had an offer accepted on a new build flat in Holland Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Holland Park
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a flat up to £195,000 and found one near me in Holland Park I like with amenity areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Holland Park in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I am looking into buying my first house which is in Holland Park and I am already nervous. I couldn't find anything specific about Holland Park. Conveyancing will be needed in due course but do you know about the Holland Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Holland Park. In the meantime here are some basic statistics that we found