Leasehold Solicitors

The leasehold solicitors at BWS Law guide clients through every part of the leasehold sale or purchase process. Some of the main areas our work covers include the following.

Reviewing the lease

The lease is the document in any leasehold transaction. It governs your ownership of the property, so understanding it properly is crucial.

When we review a lease, we will:

• Read the lease in full and confirm key points, such as the length of the term remaining, the ground rent, and the basis on which service charges are worked out.
• Flag anything unusual or onerous that could affect your enjoyment of the property, its value, or your ability to sell or mortgage it later, such as a short lease term.
• Explain your obligations as a leaseholder in plain terms, including any need to get the freeholder’s consent before doing things like altering the property, subletting it, or keeping a pet.

Leasehold purchases/sales

Whether you are buying or selling a leasehold property, there is additional documentation and an extra party to deal with compared with a freehold sale.

On a leasehold purchase, we will:

• Obtain and review the management information about the building, including the service charge accounts, buildings insurance, and any planned major works that could mean a large bill after you move in.
• Check that ground rent and service charges are up to date and raise enquiries with the freeholder or managing agent about anything that is unclear.
• Make sure your mortgage lender’s requirements on matters such as the lease length are met before you commit.

On a leasehold sale, we will:

• Order the management pack from the freeholder or managing agent, which the buyer’s solicitor will need, and chase it so that it does not hold up the sale.
• Answer the buyer’s enquiries about the lease, the charges, and the building.
• Deal with any consent, certificate, or notice the freeholder requires when ownership changes hands, including serving notice of the sale after completion.

Service charges and ground rent

Leasehold ownership means an ongoing relationship with the freeholder or managing agent, and it is important to understand the costs and obligations involved before you buy.

In this area, we will:

• Explain what service charges cover, how they are calculated, and whether there is a reserve fund building up towards future works.
• Set out what ground rent is payable and how and when it can be increased under the lease.
• Tell you what the freeholder or managing agent is responsible for, such as insuring and maintaining the building, and what you can expect in return for the charges you pay.

Extending your lease or buying the freehold

A short lease can significantly reduce the value of your property and make it harder to sell or mortgage, so many leaseholders seek to extend the lease or, for houses, buy the freehold.

If this applies to you, we can:

• Advise on whether you qualify to extend your lease or buy the freehold and what the process involves.
• Deal with the notices, negotiations, and paperwork involved in the relevant process.
• Complete the lease extension or freehold purchase and register it so that the change is recorded against your property.

Why choose us?

Leasehold sales and purchases can feel complicated, and our job is to make the process clear and manageable. Here is what you can expect when you instruct our leasehold solicitors.

A real grasp of leasehold sales and purchases

Our leasehold solicitors specialise in leasehold sales and purchases, so are perfectly placed to ensure that your transaction proceeds smoothly and swiftly.

Close to home

We are based in Loughborough and know the local area and the agents, freeholders, and managing agents who operate here. You can call or come in and speak to the person handling your matter whenever you need to.

Clear about cost

Our leasehold solicitors are committed to providing top quality legal work at highly competitive rates. We will set out our fees at the start and stand by them, with no surprise charges along the way.

If you are buying, selling or own a leasehold property and would like the support of an experienced leasehold solicitor, contact us today to find out how we can help.