In the event thatI were to acquire a straightforward housein Chelsea for cash and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Chelsea?

Any savings you would gain will be isolated to the costs for searches. Your conveyancer is required to do the vast majority of work - money laundering, liaising with the sellers conveyancing practitioner, stamp duty submission, register the ownership etc. A slight saving might be made by not having to register a mortgage but it will not be meaningful.

What can a local search tell me regarding the house my wife and I purchasing in Chelsea?

Chelsea conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search plays a central part in most Chelsea conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.

I bought my home on 4 August and my personal details is not yet registered. Any reason for this? My conveyancing solicitor in Chelsea advises it would be dealt with inside ten days. Are transfers in Chelsea uniquely lengthy to register?

There is nothing unique about conveyancing in Chelsea registration formalities. Rather than based on location, timeframes can differ depending on the party submitting the application, whether it is in order and if the Land registry need to notify any other persons or bodies. Currently in the region of three quarters of submission are completed within 12 days but some can be subject to protracted delays. Registration is effected after the purchaser is living at the premises so an expedited registration is not always top priority yet where it is urgent that the the registration takes place urgently then you or your solicitor could speak with the land registry and explain the circumstances.

I am tempted by the attractive purchase price for a couple of apartments in Chelsea which have in the region of 50 years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Chelsea is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chelsea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I have had difficulty in trying to purchase the freehold in Chelsea. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Chelsea residence is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case related to 1 flat. The unexpired term as at the valuation date was 57.06 years.

Our offer on property in Chelsea has been agreed to, the seller does nevertheless have a tied purchase. The owners have offered on on an apartment, although it’s not yet agreed to, and are looking at other properties in the pipeline. I have chosen a local conveyancing solicitor in Chelsea. What should be my next step? At what point should I apply for the mortgage with Virgin Money?

It is usual to have concerns where there is a chain given your reluctance to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Chelsea conveyancing search costs, etc). First, you should check that your solicitor is on the Virgin Money conveyancing panel. As to the subsequent steps this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a hot market many home buyers would apply for the mortgage with Virgin Money and arrange for the valuation and only if it comes back ok would they request their conveyancer to proceed with the conveyancing in Chelsea.