Can you explain why leasehold purchase conveyancing in Holland Park is more expensive?
Holland Park 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.
We're in Holland Park, FTBs purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are purchasing a flat in Holland Park. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as UBS, do Holland Park property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We previously appointed conveyancers located in Holland Park on the TSB solicitor panel. They are now charging me a separate amount for handling the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner may levy a fee for this. This charge is not dictated by TSB but by your Holland Park solicitor. Numerous firms on the TSB panel will levy ’dealing with mortgage’ fee and others do not.
It has been 4 months since my purchase conveyancing in Holland Park took place. I have checked the Land Registry website which shows that I paid £200,000 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 am looking for a leasehold apartment up to £305k and found one near me in Holland Park I like with open areas and railway links nearby, however it's only got 52 years on the lease. There is not much else in Holland Park in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How much will conveyancing in Holland Park cost?
The amount you are levied for Holland Park conveyancing fees are likely to be calculated at:
- a standard sum; or
- an hourly rate (i.e. the time spent on the particular case).
In practice very few Holland Park conveyancing solicitors invoice on time basis