Post-Leasehold Conveyancing Work is on the Increase!

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.