I am in need of some leasehold conveyancing in Marshalls Park. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Marshalls Park - 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 Marshalls Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Marshalls Park do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I am a negotiator for a long established estate agency in Marshalls Park where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Marshalls Park conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What advice can you give us when it comes to appointing a Marshalls Park conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Marshalls Park conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Marshalls Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How many lease extensions has the firm completed in Marshalls Park in the last twenty four months?

What are the legal fees for lease extension conveyancing?

We expect to complete our sale of a £125000 apartment in Marshalls Park next Monday . The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Marshalls Park?

For most leasehold sales in Marshalls Park conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Marshalls Park
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Marshalls Park leasehold premises is £350. For Marshalls Park conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

I invested in buying a leasehold flat in Marshalls Park, conveyancing was carried out 2012. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Marshalls Park with over 90 years remaining are worth £221,000. The ground rent is £60 yearly. The lease ends on 21st October 2096

With 71 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Marshalls Park