Frequently asked questions relating to Ongar leasehold conveyancing
I am in need of some leasehold conveyancing in Ongar. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all 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.
I have recently realised that I have 72 years left on my lease in Ongar. I now want to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, 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 mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Ongar.
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Ongar. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Ongar are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear 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 advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
Back In 2006, I bought a leasehold house in Ongar. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Ongar who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ongar conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Ongar both have approximately forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Ongar. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field
I own a 1 bedroom flat in Ongar, conveyancing was carried out in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Ongar with an extended lease are worth £216,000. The ground rent is £60 yearly. The lease expires on 21st October 2085
With just 65 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.