Will conveyancers ask for money up-front for my conveyancing in Hollywood?

Where you are retaining lawyers for conveyancing in Hollywood your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any deposit is payable against the sale price then this should be needed shortly ahead of exchange of contracts. The final balance that is due should be sent to your lawyer a couple of days prior to the completion date.

My wife and I purchased a renovated Georgian house in Hollywood. Conveyancing solicitor represented me and Virgin Money. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Virgin Money to clarify?

You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hollywood and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.

I decided to have a survey done on a property in Hollywood in advance of retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will not issue a loan on a flying freehold house.

It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hollywood. Conveyancing will be smoother if you use a solicitor in Hollywood especially if they are acquainted with such properties in Hollywood.

I am a negotiator for a long established estate agency in Hollywood where we have experienced a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Hollywood conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. 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 extend the lease informally by agreement with the landlord 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.

Hollywood Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing

The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually retained if it is bigger than a house conversion, the managing agent is directed by the tenants. It is important to be aware if fixing the lift or some other significant cost is due shortly to be shared amongst the leasehold owners and will materially increase the the maintenance charges or necessitate a one time payment. Are any of leasehold owners in dispute over their service charge payments?

My brother completed his conveyancing in Hollywood ten years ago. He has since got wed, widowed and in recent months got remarried. He now intends to the sell the Hollywood property. I suspect that he will simply be asked to provide a copy of the marriage certificates to the lawyer but he is worried it could hold up the home sale. Is it worth updating the Land Registry information for the house?

It is not absolutely necessary to bring up to date the register as long as you have the evidence needed to show how the change of name has come about.

Any purchaser’s conveyancing practitioner will review the title entries and request evidence to establish the change of name e.g. marriage documentation.