Frank (my husband) and I may need to let out our Marshalls Park 1st floor flat for a while due to a career opportunity. We instructed a Marshalls Park conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Marshalls Park conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party before subletting. The net result is that you cannot sublet without prior consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.

I only have 68 years unexpired on my flat in Marshalls Park. I am keen to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the freeholder. In some cases an enquiry agent should be helpful to try and locate and prepare 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 property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Marshalls Park.

Back In 2005, I bought a leasehold house in Marshalls Park. Conveyancing and Bank of Ireland 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 1993. The conveyancing solicitor in Marshalls Park who acted for me is not around.Any advice?

First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Marshalls Park conveyancing lawyer to do this as it can be done on-line 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 tempted by the attractive purchase price for a couple of flats in Marshalls Park both have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Marshalls Park is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and mortgage companies, 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 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 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 Marshalls Park 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.

What are the common problems that you encounter in leases for Marshalls Park properties?

Leasehold conveyancing in Marshalls Park is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Marshalls Park Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

Does this lease have in excess of 90 years remaining? What is the yearly service fee and ground rent? Is the freehold owned jointly by the tenants?

Other Topics

Lease Extensions in Marshalls Park