Leasehold Solicitors
If you are considering purchasing a leasehold property, it is important to seek expert legal advice from solicitors who understand the potential complications and the nuances that make this different from freehold property ownership. Matters such as lease terms, renewals and leasehold enfranchisement should all be considered at the start of the process to make sure you get the most from your purchase. A specialist leasehold conveyancing solicitor can help.
At JMW, our expert leasehold solicitors have many years of experience helping homebuyers to make the right investment. From the outset, we can handle all the legal aspects of a leasehold transaction, from examining the ground rent payable to managing lease extensions or enfranchisement where relevant. Our conveyancing solicitors offer all of the legal services you need when buying a home, with a specific understanding of how leasehold property matters affect the process.
Get in touch with our team of leasehold solicitors today to find out more about our services and how we can assist you with buying a leasehold property. Simply call us on 0345 872 6666, or complete our online enquiry form and we will get back to you as soon as we can.
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How JMW Can Help
The leasehold conveyancing solicitors at JMW will guide you through the entire conveyancing process, and help you to meet all of your obligations to the lease agreement and to prevent any issues arising later down the line.
Our leasehold solicitors are highly experienced in advising people who are considering buying a leasehold property, and will work with the leaseholder and the freeholder to prevent leasehold disputes from arising. JMW's leasehold extension solicitors can manage lease renewals on your behalf, negotiate terms relating to ground rent and uphold your rights when a new lease agreement is drawn up. Our real estate residential team will facilitate communications between you and the other parties involved, and keep you updated throughout on our progress throughout the transaction.
JMW has been recognised by the Legal 500 for its excellent service across many areas of the law. Our leasehold specialist solicitors maintain up-to-date knowledge of conveyancing law developments regarding leaseholds and make sure you meet all the relevant legal requirements. Alongside conveyancing, we offer a broad range of services relating to housing and property matters in the specialist area of leaseholds.
Meet Our Team
JMW’s team provides expert guidance and support for individuals buying leasehold property. Leaseholders have their own unique legal rights and obligations compared with freeholders, and JMW's long experience means we can help you to understand and comply.
What Is a Leasehold Property?
A leasehold property is one where a buyer will only own it for a fixed period of time. It can be a house, flat or commercial property, and the lease may last anywhere from a few years to 999 years.
This arises because the land on which the property is built is not sold when the house is. Instead, it remains under the ownership of the original landlord, known as the freeholder. At the end of the lease, the property is returned to the freeholder, although leases may be extended or bought outright from the freeholder in many cases.
What Risks Do Leasehold Properties Tend to Encounter?
While many people find that owning a leasehold property meets their needs, there are differences from buying a freehold property that buyers should be aware of. A short lease could mean that you need to take further legal steps to secure your investment after you buy, and there is sometimes the risk of lease disputes that can make ownership more complicated.
It is extremely important that leasehold property buyers fully understand the agreement they are entering into. If you don't, you may find owning a leasehold property costly and stressful. JMW's real estate residential solicitors will be able to check a range of important details, such as:
- The ground rent due to the landlord/freeholder
- Other service charges that are owed
- The length of the lease
- Responsibility for maintenance or structural work on the building
- How to extend the lease
We will also be able to advise you on securing a mortgage on a leasehold property and talk you through your rights and responsibilities as a leaseholder. Where there is a risk of conflict with the freeholder, we can advise on dispute resolution that can enable you to maintain your relationship with your landlord and avoid legal action.
Should I be concerned about a short lease?
While leasehold properties can be subject to lease terms of up to 999 years, most leases are much shorter than this. As the remaining lease term drops, a flat or house usually becomes less valuable and harder to mortgage.
However, while you are likely to face a lower resale value as the lease gets shorter, and more difficulty getting a mortgage or remortgage on shorter leases, there have been improvements in recent years. Previously, when the lease term fell below 80 years, it would become more expensive to renew it because something called "marriage value" was added into the premium. This is no longer the case, which means that renewing a short lease is more straightforward and cost effective, which in turn makes it easier to overcome the challenges of a lower valuation.
What Are My Rights Under the Lease Agreement?
As a leaseholder, you have certain rights that the landlord or letting agent organisation must meet. Your rights as a leaseholder allow you to:
- Be consulted about certain maintenance and running costs
- Be informed about service charges or insurance, and challenge certain charges where appropriate
- Know the landlord's name and address
If your landlord or managing agent has failed to meet their obligations to you, you may be in a position to take action. JMW has extensive experience in this area and will support you if you are experiencing difficulties in your relationship with your landlord.
For more information about your rights as a leaseholder and what to do if they are infringed, seek legal advice from our residential property team today.
Are Your Solicitors Specialising in Leasehold Properties Near Me?
JMW has headquarters in London and Manchester, but our expert residential leasehold property solicitors work all over the country. Where necessary, we can conduct appointments online or over the phone, and all of our conveyancing services are managed through our app. Wherever you are located, seek advice and guidance from the expert leasehold solicitors at JMW today.
FAQs About Our Leasehold Solicitor Services
- Do you need a solicitor to acquire a leasehold property?
You will need a conveyancing solicitor to carry out the legal aspects of the process when you buy a property, and it is highly recommended that you seek legal advice from specialist leasehold solicitors. By consulting JMW before buying a leasehold property, you can be confident that you will avoid issues and get the most out of your leasehold deal.
- What responsibilities do leaseholders have?
Under a leasehold, a property owner has an ongoing obligation to pay 'ground rent', and to make these rent payments on time. Additionally, leaseholders may have to maintain and manage the property, and they may have to contribute to insurance payments. These requirements will be included in your leaseholder contract and should be discussed with the landlord. Our solicitors will help you to understand these requirements and may be able to negotiate to get better terms for you.
- Can you be evicted from a leasehold property?
As a leaseholder, you may be kicked out of a property if you breach the terms of the lease that you officially agreed to by signing the leasehold agreement. The agreement should state the consequences of breaching the terms for the property owner. If you believe that the terms are unfair or that you are facing consequences beyond those contained in the lease agreement, you should speak to a legal expert.
- Can a landlord refuse a lease extension or renewal?
Under some circumstances, a landlord has legal grounds to refuse a lease extension. If you have breached the terms of your leasehold agreement, the landlord can refuse to renew your lease and demand that you leave the property when it ends. Depending on the terms of your lease, they may be able to evict you from the property.
Landlords may also repossess leasehold property for their own use, if they can prove their intentions to do so and are not restricted by the leasehold agreement.
- What is the difference between leasing and renting a property?
The main difference between renting and leasing a property is that renting is typically done on a short-term basis. Unlike a rental agreement, which often lasts only a year, a leasehold agreement can be granted for any length of time from the usual 21 years to 999. Leasehold terms are usually different to reflect this greater length of time and the function that the property will be used for.
Talk to Us
Benefit from invaluable legal advice on buying a leasehold property today by getting in touch with our real estate residential solicitors. Simply call us on 0345 872 6666, or by completing our online enquiry form and allow us to give you a call back at a convenient time.
