I am in need of some leasehold conveyancing in Hoxton. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most 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 only have 62 years remaining on my lease in Hoxton. I am keen to get lease extension but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent should be helpful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Hoxton.

I am a negotiator for a busy estate agent office in Hoxton where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Hoxton conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any top tips for leasehold conveyancing in Hoxton with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Hoxton can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
• Many landlords or managing agents in Hoxton charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Hoxton.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Hoxton state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor in advance.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Arranging a new share certificate is often a time consuming formality and delays many a Hoxton conveyancing deal. If a new share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hoxton conveyancing firm to represent me?

in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.

An example of a Lease Extension case for a Hoxton property 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 was in relation to 2 flats. The unexpired lease term was 72.39 years.

In relation to leasehold conveyancing in Hoxton what are the most frequent lease problems?

Leasehold conveyancing in Hoxton is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Hoxton Leasehold Conveyancing - A selection of Queries before buying

It would be a good idea to investigate if there are any onerous restrictions in the lease. For instance it is fairly common in Hoxton leases that pets are not permitted in certain buildings in Hoxton. If you like the flatin Hoxton however your cat can’t live with you then you have a very hard compromise.