Sample questions relating to Hoxton leasehold conveyancing
I am on look out for some leasehold conveyancing in Hoxton. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Hoxton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have just appointed agents to market my ground floor flat in Hoxton.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge invoice – what should I do?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Hoxton. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hoxton ?
Most houses in Hoxton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Hoxton so you should seriously consider looking for a Hoxton conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.
Back In 2004, I bought a leasehold flat in Hoxton. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Hoxton who previously acted has long since retired.Do I pay?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Hoxton conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of apartments in Hoxton which have approximately 50 years remaining on the leases. Do I need to 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 the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Hoxton. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Hoxton conveyancing firm who can help.
An example of a Lease Extension case 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 related to 2 flats. The unexpired lease term was 72.39 years.