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Why is conveyancing for leasehold properties more expensive?

Leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts.

The obligations on both the landlord and the tenant need to be studied by the buyer’s property solicitors. Although most leases tend to follow the same basic format and while solicitors and conveyancing lawyers are accustomed to finding their way around leases, there is no alternative but to read the lease from start to finish – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.

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