My aunt informed me that in buying a property in Hoxton there may be a number of restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Hoxton which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Hoxton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
How can we know in advance if a Hoxton conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Hoxton obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your transaction.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Hoxton is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do I need to pay for insurance to cover chancel repairs when buying a house in Hoxton?
Unless a prior acquisition of the property took place post 12 October 2013 you could take it that conveyancing practitioners conducting conveyancing in Hoxton to remain recommending a chancel search and or chancel repair liability insurance.
My wife and I have a semi-detached Edwardian property in Hoxton. Conveyancing practitioner represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hoxton and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing solicitor who completed the work.
I am purchasing a new build house in Hoxton with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my conveyancer about this side-deal as it would jeopardize my loan with Nationwide Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Hoxton is the location of the property. Can you offer any assistance?
Flying freeholds in Hoxton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hoxton you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hoxton may ascertain 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.
There are only 72 years unexpired on my lease in Hoxton. I now wish to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent would be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Hoxton.
I have given up trying to purchase the freehold in Hoxton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal 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 related to 2 flats. The unexpired term was 72.39 years.
