As a property lawyer there is a tendency to forget that clients do not have the same depth of knowledge as myself so I have taken it upon myself to produce brief guides on the basics.
I deal predominantly with residential and commercial lease and there are many different types of transactions that involve leasehold elements.
Concentrating on residential leases, you can purchase either a leasehold flat or house although leasehold houses are not as common as flats.
Some shared ownership schemes incorporate leasehold elements to allow you to get on the housing ladder with the owner taking a lease over the property with the housing provider retaining the freehold of the property.
Essentially, when you instruct a solicitor for a leasehold transaction this will fall into the following main categories:
1. Leasehold Sale; or
2. Leasehold Purchase; or
3. Shared Ownership scheme purchase.
I have drafted separate blogs detailing the specifics of what is involved in each the 3 options above so please view them on the Fidler & Pepper website. Alternatively contact me directly on 01623 451111 or email on firstname.lastname@example.org