We know that entering into a lease is a serious ongoing financial commitment so we want to give you as much information as possible.
Leasehold ownership of a flat is simply a long tenancy. The lease is usually set at 99 or 125 years and once the lease time has run out the flat returns to the landlord.
Buying a flat and becoming a leaseholder is different to buying a house. When buying a house you own the building and its land, but with leasehold ownership it usually relates to everything within the walls of the flat.
The external structure, communal areas and the land it stands on belongs to Ongo Homes.
Always take professional advice before taking the leap into leasehold ownership.
If you have any questions call 01724 279900 and speak to our Home Ownership Team.
You can also contact the Leasehold Advisory Service, who are a non departmental public body funded by Government. They can provide free legal advice to leaseholders on the law affecting residential leasehold in England and Wales. They can provide advice by telephone, letter or e-mail.
You can contact the Leasehold Advisory Service on 020 7832 2500 weekdays 9am – 5pm or e-mail email@example.com.