I am about to exchange buying a house in Hoxton but as a result of wreckage from the recent storms I have was able negotiate reparation from the owner in the sum of £2k taking the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process but Leeds Building Society will not permit this. Should they have been involved?
The conveyancing practitioner that is on the Leeds Building Society approved list is required to advise Leeds Building Society of any changes to the purchase price. If you were to refuse your solicitor to report the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new property lawyer for your conveyancing in Hoxton.
Do banks and building societies provide you with an approved list of Hoxton conveyancing solicitors? How do you know who is on the RBS conveyancing panel?
Hoxton conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
My partner and I are planning on selling our house in Hoxton and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using an internet conveyancing outfit as opposed to a conveyancing solicitor in Hoxton. We have lived in Hoxton for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build flat in Hoxton. Conveyancing is a frightening process 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 conveyancing.
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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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Hoxton is the location of the property. What do you suggest?
Flying freeholds in Hoxton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hoxton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hoxton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Due to sign contracts shortly on a ground floor flat in Hoxton. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hoxton should include some of the following:
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Additions to the flat The total extent of the property. This will be the apartment itself but might incorporate a attic or cellar if applicable. Responsibility for repairing the window frames You should receive a copy of the lease Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I have had difficulty in trying to purchase the freehold in Hoxton. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the premium.
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 affected 2 flats. The unexpired residue of the current lease was 72.39 years.