I am in need of some leasehold conveyancing in Hoxton. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Hoxton - then the leasehold title will always include the basic details 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 would like to rent out my leasehold flat in Hoxton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your previous Hoxton conveyancing solicitor is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior consent. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

My wife and I purchased a leasehold house in Hoxton. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Hoxton who acted for me is not around.Do I pay?

First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Hoxton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two maisonettes in Hoxton both have in the region of 50 years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Hoxton is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hoxton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any advice for leasehold conveyancing in Hoxton with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Hoxton can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Hoxton leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Should you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer before hand.
• A minority of Hoxton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential 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 premises on the market for sale.

My wife and I have hit a brick wall in trying to purchase the freehold in Hoxton. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price payable.

An example of a Lease Extension case 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 was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.

Hoxton Conveyancing for Leasehold Flats - Sample of Queries before buying

It would be prudent to investigate if the the lease includes any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Hoxton. If you like the propertyin Hoxton but your dog can’t live with you then you have a very difficult decision. Does the lease include onerous restrictions? How many of the leaseholders are in arrears for their service charge payments?