First things first, what is “post-leasehold conveyancing work”?
Once a buyer has completed the conveyancing of a leasehold property, there is still a number of instances (as compared to freehold conveyancing) where the leaseholder may well call upon our expertise following completion.
The Leasehold Conveyancing Team in particular have received a number of requests for advice concerning post-completion matters including the following conveyancing areas:
1. Lease extensions.
2. Leasehold enfranchisement.
3. Licence for Alterations.
4. Deeds of Variation (to extend ownership onto spaces such as a balcony or roof terrace).
5. Service charge health checks.
So why is post-leasehold conveyancing on the increase?
It appears that many leaseholder owners come into two categories:
(a) The Seller who is very keen to sell and has been educated by their estate agent of need to address a leasehold problem. An example might be where the agent advises the seller of a need for a Licence for Alterations or a lease extension if the seller does not want to have a problem selling.
(b) Those leasehold sellers that are waiting for the property market to stabilise but in the meantime want to add value to their property by way of a lease extension and Deed of Variation or purchasing the freehold.