My partner and I are hoping to buy a property in Hoxton and are in fact using a Hoxton conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Godiva Mortgages Ltd have this evening contacted us to advise us that there is now an issue as our Hoxton solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hoxton lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can the conveyancing practitioners that you recommend carry out right to buy conveyancing in Hoxton?
We have identified numerous conveyancing specialists carrying out right to buy conveyancing Please get in touch with the conveyancers listed with a view to get a costs illustration.
Can your site be used to recommend a Conveyancing solicitor in Hoxton even if I’m not buying or disposing of a house, for example where I wish to buy a shop in Hoxton with a loan from Chelsea Building Society?
The service is mainly there to locate domestic conveyancing solicitors in Hoxton but we have set out at the bottom of this page some Hoxton commercial conveyancing firms. You will need to make contact with the firm directly to establish if they are also authorised to represent Chelsea Building Society
I am purchasing a house and need a conveyancing solicitor in Hoxton who is on the Aldermore solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Hoxton. We dont recommend any particular firm.
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial land in Hoxton?
Many commercial conveyancing solicitors in Hoxton will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Hoxton. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hoxton.
For each commercial conveyancing transaction in Hoxton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Hoxton commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Hoxton.
I am tempted by the attractive purchase price for a couple of flats in Hoxton which have about forty five years unexpired on the lease term. should I be concerned?
There are plenty of short leases in Hoxton. The lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field.
My wife and I have hit a brick wall in trying to purchase the freehold in Hoxton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Hoxton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hoxton residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired term was 72.39 years.