I only have 62 years remaining on my flat in Marylebone. I now want 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations an enquiry agent would be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Marylebone.

I am hoping to sign contracts shortly on a garden flat in Marylebone. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Marylebone should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• Are you allowed to have a pet in the flat?
• Whether the lease restricts you from letting out the flat, or having a home office for business
• Whether your lease has a provision for a reserve fund?
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• Responsibility for repairing the window frames

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Marylebone. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Marylebone ?

The majority of houses in Marylebone are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Marylebone in which case you should be shopping around for a Marylebone conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold flat in Marylebone. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Marylebone who previously acted has long since retired.What should I do?

First contact HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Marylebone conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Marylebone both have about forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Marylebone is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and lenders, leases with under 75 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 property 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 premises 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 Marylebone conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

I have had difficulty in trying to purchase the freehold in Marylebone. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to determine the price.

An example of a Lease Extension decision for a Marylebone property is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case affected 2 flats. The the unexpired term as at the valuation date was 24.02 years.

I own a leasehold flat in Marylebone, conveyancing having been completed in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Marylebone with an extended lease are worth £205,000. The ground rent is £60 invoiced annually. The lease terminates on 21st October 2081

You have 55 years remaining on your lease we estimate the premium for your lease extension to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.