Recently asked questions relating to South Ockendon Lease Extensions

  • I plan on buying a flat in South Ockendon. The offer is subject to the lease extension. The seller’s has served the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Barnsley Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • We bought a leasehold with a landlord who has failed to respond by way of a counter-notice for a lease extension for our flat in South Ockendon and are therefore thinking about the option of a vesting order. Is this something you can help us with?
  • I am considering whether to purchase the freehold or a lease extension of my property in South Ockendon and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a get a new mortgage with Halifax to release of equity. My adviser handling the remortgage suggested I get two quotes : one to extend the lease and one for outright acquisition .The lease commenced in 1972 and since then the ground rent has been raised from £25.00 per annum to £100 per annum.
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • I am the freeholder of a Edwardian property split into two apartments. I reside in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 59 years. What are my next steps?
  • If a leaseholder owns a flat with a lease of under 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?
  • We are acquiring a one bedroom apartment in South Ockendon which has share of freehold and a leasehold. The lease was on the short side so the seller commenced extending the lease. The owner has submitted the lease extension paperwork to HMLR. An essential part of the house buying process is for our to do OS1 search on the lease. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it correct that we must hold on until the new lease is registered?
  • I'm seeking some help with regard to a lease extension on my maisonette. I'll be looking to do this next autumn as we must move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the LVT route. Should I look to complete the lease extension now or wait until I sell my place and have it all tied in with the property sale?
  • My mum is aware that others in the same building previously had a lease extension, and the freeholder seemed reasonable. It therefore appears worth taking risk of not having formal survey and base the initial offer on on the prices by others . This would save on double valuation charges. Is this advisable?
  • I am planning on refinancing my garden flat in South Ockendon and the bank that I am looking to move to requires at least 80 years remaining on the lease in order for them to take the mortgage forward. I have found that I currently have around 56 years on the leasehold so looking for some help, guidance, and some quotes to get the wheels in motion for a lease extension

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