I have given 8 weeks notice to my existing landlord and have to vacate my let out property in Marshalls Park by 15/1/2025. Conveyancing for my house purchase is progressing. Is it possible to complete in 5 weeks as don't want to have to find temporary accommodation?

The normal practice is not to provide notice for your lease until your lawyer suggests that you should. If you have not already done so, notify to your lawyer and ask them to they cajole the owners solicitors, try to get a realistic time scale from them that everyone will aim towards

I purchased a freehold premises in Marshalls Park yet charged rent, why is this and what is this?

It is rare for properties in Marshalls Park and has limited impact for conveyancing in Marshalls Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.

I'm refinancing my current property to a buy to let mortgage with Leeds Building Society and I will use the ballance of the raised equity towards further property. The neighborhood we are talking about is Marshalls Park. Will your conveyancers be able to act for the two lenders and link together the transactions?

Make use of our comparison tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are the lawyer should be able to connect the two deals but you should talk with you conveyancer and make clear your desired outcome and needs.

In my capacity as executor for the will of my grandfather I am disposing of a house in Neath but reside in Marshalls Park. My lawyer (approximately 235 miles awayrequires that I sign a statutory declaration before completion. Can you recommend a conveyancing lawyer in Marshalls Park to attest and place their company stamp on the document?

strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Marshalls Park based

I am tempted by the attractive purchase price for a two flats in Marshalls Park both have approximately fifty years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Marshalls Park is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and lenders, leases with under 75 years become less and less marketable. 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 Marshalls Park 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.

Leasehold Conveyancing in Marshalls Park - Sample of Queries before buying

What is the yearly service fee and ground rent? Who are the managing agents? Please tell me if there are any major works on the horizon that could add a premium to the maintenance fees?