Would the conveyancing lawyers highlighted via your ’find a lawyer’ app handle right to buy conveyancing in Hoxton?
We do have a number of conveyancing experts who can service right to buy conveyancing matters Please e-mail the conveyancers listed with a view to obtain a costs calculation.
My uncle passed away last year and as sole heir and executor I was left the house in Hoxton. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this possible?
If you plan to re-mortgage then UBS will require that you use a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
Various internet forums that I have come across warn that are the main cause of obstruction in Hoxton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Hoxton.
I am buying a new build apartment in Hoxton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Hoxton
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I am looking at a two apartments in Hoxton both have about 50 years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Hoxton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Hoxton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 am the leaseholder of a two-bedroom flat in Hoxton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the price.
An example of a Lease Extension decision for a Hoxton flat 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 affected 2 flats. The unexpired term as at the valuation date was 72.39 years.
My wife and I have recently appointed a conveyancing solicitor in Hoxton. I need to find out if they are on the lender's conveyancing panel. Can you advise?
It’s a good idea phone the conveyancer to enquire if they are on the bank's approved list. If that does not help call us and we can investigate and revert. If they are not on the lender panel we can certainly arrange a specialist conveyancing solicitor in Hoxton on the approved list for your lender.