Leasehold Property


Williamsons Solicitors will provide you with the necessary expertise and advice when selling and/or buying your leasehold property.  Leasehold conveyancing is much more complicated then freehold conveyancing.  A leasehold property gives you the right to use a dwelling owned by someone else for a specified period of time (typically 99, 125 or 999 years).  A freehold property is when you own your home outright and there is no involvement by any third party. 

The sale and/or purchase of a leasehold property is exactly the same process described in ‘Property Sale’ and ‘Property Purchase’, with various additional elements as outlined below.  Williamsons Solicitors will guide you through the complexities of leasehold properties and deal with third parties on your behalf.

We must check the lease very carefully to ensure that your interests and rights along with those of your mortgage lender are protected.  The owner of the property (the landlord or management company – explained below) will use the lease to bind you to various obligations and promises.  It is essential that Williamsons Solicitors check that the lease has been prepared correctly and does not include unfair terms.

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A leasehold property is often part of a larger estate/block of flats.  The whole estate/block of flats is owned by a third party, known as the landlord or management company.  A landlord will tend to run the estate if it is relatively small in scale, larger estates tend to be managed by a management company on behalf of the landlord.  Generally, the landlord or management company will deal with the day to day running of the common areas within the estate/block of flats.  It is essential that Williamsons Solicitors check that the estate is run properly and if a management company is in place, ensure that this has been correctly formed.

You will be expected to pay a ‘ground rent’ and/or ‘service charge’ to the landlord/management company in return for their service:-

• Ground Rent – is normally an annual payment paid by you to the landlord/management company.  The lease will state the amount payable and this fee will vary from lease to lease.





• Service Charge – it is common to pay the landlord/management company a service charge for work required to the estate/block of flats in respect of the maintenance of the grounds/common parts.  The landlord/management company will also recover the premium payable for the buildings insurance.

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Williamsons Solicitors will make sure that all ground rent and/or service charge payments have been paid in full.  If the seller of the property has paid these in advance then the buyer of the property will be asked to refund any overpayment.  We will also check that the property is adequately insured.  In addition, we will raise enquiries of the landlord/management company to determine information about the lease and check the accounts are satisfactory.

Following the sale and/or purchase of a leasehold property, Williamsons Solicitors will need to serve ‘Notice’ on the landlord and/or management company advising them of the change of ownership and details of any mortgage.

Please be aware that the landlord/management company will often charge a fee for supplying essential information about the property and registering the notice (referred to above).  These fees are in addition to Williamsons Solicitors charges and will vary depending on the landlord/management company involved.

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