We are a couple about to exchange contracts for a garden flat in Holland Park. We have hit a snag. Our mortgage offer with Barclays Direct runs out on 11/9/2026 but the sellers are suggesting a completion date of 15/9/2026. Can one prolong the mortgage offer?
The best person to deal with your concern is your lawyer who is in a position to determine whether he or she is should be discussing with the mortgage company, owner’s solicitors, estate agents or conceivably all three given what has gone on in your transaction as of today.
I am the registered owner of a freehold property in Holland Park yet pay rent, why is this and what is this?
It is rare for properties in Holland Park and has limited impact for conveyancing in Holland Park 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
three months have gone by since my purchase conveyancing in Holland Park took place. I have checked the Land Registry site which shows that I paid £175,000 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 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.
Due to the input of my in-laws I had a survey completed on a property in Holland Park in advance of retaining solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders may not issue a loan on such a property.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Holland Park. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to choosing a Holland Park conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Holland Park conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Holland Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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If the firm is not ALEP accredited then what is the reason?
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Holland Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Lease Extension decision for a Holland Park residence is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The unexpired lease term was 37.79 years.
Are you able to explain what my options are if my Holland Park conveyancing searches shows detrimental entries?
Ordinarily, the majority of adverse entries arising from Holland Park conveyancing search results can be dealt with prior to completion or title insurance can be taken. You need to note that although you are purchasing the property and may be willing to live with the search results, your lender may not, and ultimately have the final decision.