Finally, a mortgage offer from HSBC for the remortgage of my 3 bedroom maisonette is due by the end of next week. Can you put forward a low cost conveyancing lawyer in Hoxton?
You are on the wrong site if you are seeking the cheapest conveyancing in Hoxton. Our aim is to provide affordable conveyancing but our intention is not to work with the cheapest lawyers. Do not be swayed by brokers offering £100 conveyancing in Hoxton. At best, in being led by low cost conveyancing, you will get your money’s worth and at worst it will result in you paying a lot in extras and still not get the service you were looking for.
I own a freehold property in Hoxton but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Hoxton and has limited impact for conveyancing in Hoxton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We're in Hoxton, FTBs purchasing with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in Hoxton differ for new build properties?
Most buyers of new build property in Hoxton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Hoxton tend to purchase the real estate, 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 Hoxton or who has acted in the same development.
I am 14 days into a leasehold purchase having been directed to a firm by the estate agent to do our conveyancing in Hoxton. I am not happy. Can you help me find new lawyers?
A conveyancer would need to be very bad to suggest replacing them. Has your mortgage been sent? If so you will need to advise them of the new lawyer and have the mortgage documents are re-sent. The solicitor ideally needs to be on the mortgage company panel to avoid supplemental costs and delays. That should be your starting point. The find a solicitor tool should assist you in finding a bank approved conveyancer for your home move in Hoxton
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Hoxton. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Hoxton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hoxton in which case you should be shopping around for a Hoxton conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hoxton conveyancing firm to assist?
You certainly can. 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 premises 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 number of years remaining on the existing lease(s) was 72.39 years.