Most flats are sold on a leasehold basis, meaning there are additional things you need to consider when buying a flat, such as the terms of the lease and how these may affect you in the future.
It is therefore essential when buying a flat to take expert legal advice on the lease terms and what these mean for you. You also need someone to guide you through the whole conveyancing process, keeping you safe and ensuring your purchase stays on schedule.
At Devereux & Co, our Conveyancing Quality Scheme (CQS) accredited team have decades of experience handling leasehold conveyancing. We will listen to your needs and make sure you are aware of all of the issues involved in buying your flat, keeping you and your money protected.
We know how stressful buying a property can be, but our combination of seasoned legal expertise, clear communication and a down-to-earth, personal approach can help to make the process as simple and stress-free as possible.
Leasehold conveyancing explained
How is buying a flat different from buying a house?
The difference, in terms of owning a flat, is that flats (unlike most houses) are subject to a Lease. A Lease is a Deed under which a landlord grants a tenant exclusive use and occupation of the flat for a term of years, typically 99, 125 or 999 years.
The Lease regulates shared use of the building, deals with service charge payments and imposes obligations and restrictions on the landlord and the tenant, for example as to repairing obligations, insurance, prohibited activities, etc.
If the building comprises three or more flats, there is likely to be a Management Company and often this will be owned and controlled by the tenants themselves. This allows all of them to decide collectively how the building will be managed and what repairs and maintenance will be carried out and when.
If there is no Management Company, the landlord retains the obligations to repair and insure the building. Provided he complies with certain regulations, for example, as to obtaining estimates and consulting with the tenants, the landlord alone will determine what works are carried out, by whom and at what cost.
The complexity of Leases tends to make the buying and selling of flats more time consuming and expensive; expertise and experience in this field is essential.
How much does leasehold conveyancing cost?
The cost of your leasehold conveyancing for a flat will depend on various factors, including:
- The value of the lease
- The location (which may affect what searches are needed)
- Whether this will be main residence or not
Looking for a competitive quote for your leasehold conveyancing? Please get in touch.
How long does it take to buy a leasehold flat?
Typically, it takes around 8-12 weeks to complete the purchase of a leasehold flat. However, this will depend on the circumstances, including how quickly the seller’s solicitor prepares the contracts and deals with any queries or other issues.
Why choose our leasehold conveyancing solicitors in Bristol?
When you work with our conveyancing solicitors in Shirehampton or Westbury on Trym, we can offer you:
Conveyancing Quality Scheme (CQS) accreditation
We are accredited by the Law Society’s Conveyancing Quality Scheme (CQS), so you can be confident that our conveyancing is safe, reliable and meets the highest legal standards.
Exceptional attention to detail
We treat every aspect of your conveyancing with the greatest care, helping to ensure there are no mistakes that could hold up your conveyancing or create problems in the future.
Personal attention from an experienced conveyancer
Every stage of your conveyancing will be dealt with by an experienced, qualified member of our team, so you always have a single point of contact for any questions or concerns.
Our team will keep you regularly updated about the progress of your transaction, so you always stay in the loop about what is going on and how much longer your conveyancing should take.
Clear, competitive fees
A fixed fee quote will be provided at the outset with a clear breakdown all of the costs involved in your leasehold conveyancing. There will never be any “hidden extras” to worry about.
Contact our leasehold conveyancing solicitors in Bristol
For help with conveyancing for your flat or to get a no obligation quote, please contact our Bristol conveyancing solicitors now.