Leasehold Advisory Service for flat purchasers
Laura Mather 13-01-2020
Buying a new flat? If your flat is a leasehold rather than a freehold property, there may be issues which you haven't considered before, if you have never owed a leasehold. Even though you may think it should be simpler to purchase a small flat, rather than a large house, it can actually be more complex.
This is why it is very important that you understand exactly what you are buying, and that you have an experienced solicitor to help you. Rectifying mistakes with leasehold properties can be very expensive and time consuming.
The lease advisory service offers many useful tips on leasehold matters. One important point to remember is that once you’ve completed your purchase and moved in, your solicitor still has a vital job to do to make sure the landlord, management company and land register are all updated.
Our new head of conveyancing Laura Mather comments “When choosing a solicitor it is vital that you find someone friendly, efficient and thorough, with great attention to detail, to ensure your purchase is completed and registered properly.”
At Samuels Solicitors LLP, with offices in Barnstaple and Kingsbridge, we have a great team of solicitors and conveyancing assistants who are experienced in dealing with the purchase and sale of leasehold as well as freehold properties.
We work hard to make sure that you can concentrate on enjoying your new home whilst we deal with the lease requirements and Land Registry formalities after completion and our dedicated team is always on hand to help guide you through any queries you have.
If you are buying a property which is subject to a lease, speak to one of our lawyers about the differences with freehold property, and the different issues which can arise. You might find that there are issues which could affect the value of the property in the future, or which could make it more difficult for a future buyer to obtain a mortgage.
If you have a property which is leased, and you are not sure that the formalities have been dealt with properly, we can help. You might need assistance setting up a management company, or some advice about whether you can buy the freehold of your property.
Contact us today to find out how we can help.