Experts for Leasehold Conveyancing in Ongar

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Ongar, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Ongar leasehold conveyancing

I am on look out for some leasehold conveyancing in Ongar. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Ongar - then the leasehold title will always include the short particulars 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.

There are only Seventy years unexpired on my flat in Ongar. I need to get lease extension but my freeholder is absent. 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 extended by the Court. However, you will be required to prove that you have used your best endeavours to find the lessor. In some cases a specialist would be helpful to carry out a search and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Ongar.

I have just started marketing my 2 bed flat in Ongar.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – Do I pay up?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Ongar. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Ongar ?

The majority of houses in Ongar are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Ongar in which case you should be looking for a Ongar conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

Can you provide any top tips for leasehold conveyancing in Ongar with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Ongar can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers solicitors.
  • The majority landlords or managing agents in Ongar levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Ongar.
  • A minority of Ongar leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should 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 financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Ongar conveyancing deal. Where a reissued share is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I acquired a 1st floor flat in Ongar, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Ongar with over 90 years remaining are worth £173,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2087

    You have 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 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 extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Ongar