It is 10 years ago since I acquired my home in Hackney. Conveyancing solicitors have recently been instructed on the sale but I can't find the deeds. Is this a major issue?
You need not be too concerned. First there is a chance that the deeds will be with your mortgage company or they may be in the possession of the lawyers who handled the purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Almost all conveyancing in Hackney relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is resolvable.
I am buying a semi-detached house in Hackney. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Hackney you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Hackney.
How does conveyancing in Hackney differ for new build properties?
Most buyers of new build residence in Hackney approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Hackney usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hackney or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and identified one close by in Hackney I like with a park and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Hackney suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may 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 with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Last February I purchased a leasehold flat in Hackney. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hackney. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Hackney residence is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case related to 4 flats. The unexpired residue of the current lease was 90 (or thereabouts).
I am looking to acquire a repossessed property in Hackney and the mortgagee in possession would like to complete inside a week. Do conveyancers complete in this timeframe? Would it be better to instruct a local Hackney firm or an online company that professes to complete quickly?
Visit your Hackney shopping parade. Pop in to a couple of companies and request to see a conveyancing solicitor for an estimate. Explain your needs and seek a commitment on time frames. Choose the one that appears most trustworthy. Be sure to choose a conveyancer on the panel of solicitors approved by your lender.