Leasehold solicitors can assist with leasehold property matters whether you’re buying or selling a leasehold property or simply looking for assistance with specific legal matters relating to the property.

Leasehold is a specific type of property ownership that has its own unique legal rights and many properties in the UK are sold on a leasehold basis.

Leasehold enfranchisement solicitors are experts in this specific area of property law and can assist with any leasehold issues you have.

Seeking legal advice when it comes to leasehold agreements is a wise decision given the complex nature of the legalities and you must understand your legal responsibilities.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

Leasehold Solicitor For A Sale Or Purchase Of Property

If you’re buying or selling a leasehold property, there are some key considerations you need to make.

In its simplest terms, if you own the freehold of your property, it means you own the building AND the land. But if your property is leasehold, it means you own the property but NOT the building or land and you must pay ground rent to the freeholder.

A lease is essentially a contract between the leasehold and the freehold which sets out certain requirements in the relationship – it might mean that certain alterations can’t happen to the property without the leaseholder’s consent, for example.

There are more leasehold properties than ever in the UK after a significant number of new build properties sold directly through the property developer were sold as leasehold properties.

The government set out plans to change the rules on leasehold properties in 2017 to ban this practice, but it’s yet to be enshrined in law, meaning that new leasehold properties are still being sold today.

Leases can vary from property to property and specific covenants might exist that you need to be aware of when dealing with a property transaction, as well as who is responsible for any maintenance costs. Ground rent is either paid at a fixed rate or an escalating rate, which means that fees can increase after a fixed period (e.g., 5 or 10 years).

Maintenance and service charges are usually in place to pay for the upkeep and maintenance of shared areas such as gardens or elevators, hallways, and building insurance – this is common in apartment blocks.

What Is Leasehold Enfranchisement

Leasehold enfranchisement is the process where you either extend your lease or purchase a share of the freehold (this is known as ‘collective enfranchisement’).

Because with leasehold properties you only own the property for a set period as agreed in the lease (this might be 100 years, 1000 years, or a similarly long period of time), purchasing or extending the leasehold might be necessary at some point.

If you’re selling a leasehold property, you should be aware that the shorter the amount of time remaining on the the lease, the less value the property has.

Often solicitors will advise you to consider extending or purchasing the lease when it has around 85-90 years remaining as when the lease falls below 80 years, it can cost a lot more to purchase due to the calculations made on lease extensions.

How Do You Find The Best Leasehold Enfranchisement Solicitor

At Solicitors Near Me, we’re here to help you find the best leasehold enfranchisement solicitor for your needs.

We understand that in this complex and confusing area of law, having an expert solicitor that you can rely on is vital to ensuring you achieve the outcome you’re looking for.

Whether you’re buying or selling a property or looking to extend your lease, knowing what your options are and the best route forwards is essential.

We connect you with expert leasehold enfranchisement solicitors near where you live for free so that you can decide whether they’re the right fit for you and whether you want to proceed with them for your requirements.

Leasehold Enfranchisement Solicitor Costs

The cost of a leasehold enfranchisement solicitor can vary depending on the services you require and how complex the leasehold is. The unfortunate reality of the situation is that it’s unclear what the definite cost will be until the project is underway and all of the facts are discovered.

The good news is that solicitors can often agree on an informal cost estimate to give you some certainty in your leasehold enfranchisement case – costs can begin at £500 but run into the thousands depending on your circumstances, how many people are involved in the case, and what you’re hoping to achieve.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

 

Pulling out of a house sale can be a stressful decision to make.

There are many reasons why you might choose or need to pull out of your house sale but it can be confusing knowing where you stand from a legal and financial point of view.

The good news is that you’re well within your rights to pull out of a house purchase…

Until you exchange contracts. Once you do that, you’re bound by the subjects and terms set out in the contract, which is legally binding.

If you are looking for a specialist Conveyancing Solicitor Near Me, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

Can You Pull Out Of A House Sale

Yes.

Okay, there is a bit more to it than that, but the basic point is that you absolutely can pull out of a house sale if you want to. You might have had a chance in circumstances, your purchase might have fallen through, or you might simply have changed your mind, but whatever the reason, it’s important to know that you can.

Pulling out of a house purchase before exchange is possible but you might still be liable for certain charges and costs.

If you’re selling your house and you want to pull out, you should speak to your solicitor and ensure that you check the terms of your agreement as signed by your estate agent.

When Can You Pull Out Of A House Sale Without Incurring Costs

You can pull out of a house sale without incurring costs before you exchange contracts in some cases. For example, if your solicitor has a no sale, no fee agreement with you then you won’t incur any further costs.

It all comes down to who is looking to remove themselves from the house sale and the agreements you have – if you have a buyer that is happy to proceed but you decide to pull out, you might still need to pay your estate agent’s fee.

If your solicitor has started work on your property purchase and/or sale, the reality of the situation is that they’ll probably still charge you for the work conducted up to that point.

There’s different ways that fee can be calculated but if you check the terms of agreement you signed with your solicitor or conveyancer, it’ll set out what to expect if you pull out of the sale of your home. The most common outcome is for you to pay for the work carried out so far which might be billed at their hourly rate.

Plus, any costs incurred by your solicitor will also need to be covered. However, it’s common that many solicitors require an upfront payment for their services to cover costs for searches and various admin requirements before they begin working with you.

If it’s a leasehold property that you’re selling, payments made to managing agents, landlords, and leaseholds might not be recoverable either, nor will any mortgage adviser’s fees as part of your property move.

Pulling Out Of A House Sale Before Exchange

Pulling out of a house sale before exchange isn’t unheard of but you should consider all of your options before you make a final decision.

Moving house can be a long and expensive process so it’s important that you speak to your solicitor and explain your reasons so that they can advise on your best route forwards to ensure that you don’t end up having to pay out significant fees without selling your home.

Pulling Out Of A House Sale Or Purchase After Exchange – Can You Do It?

This is something that needs serious consideration if you’re planning on doing it.

Pulling out of a house sale or purchase after exchange can carry significant costs and legal ramifications, so it’s not a decision to take lightly.

It might lead your buyer or seller to issue a ‘notice to complete’ which gives you a 10-day period to complete the sale and if you’re unable to, this will mean you’re in breach of contract.

If you’re a buyer and you wish to pull out after exchanging contracts, the seller WILL be entitled to end the contract AND keep the deposit. They are then free to sell the property and any contents that have been agreed to another buyer as well as claiming damages from you as well as any losses occurred. That might be a depreciation in the value of the property, for example.

If you’re a seller and you’re pulling out after exchanging contracts, you have some legal obligations to deal with.

If you as the seller fail to complete the sale, the buyer can claim a daily rate of interest for the notice to complete, they can claim the original deposit, and any documents must be returned by the buyer to you – but you’ll need to cover the cost of doing so.

There is also a cost over the breach of contract that could mean you end up in a court dispute over losses incurred.

Solicitors Near Me To Advise On Pulling Out Of House Sale Or Purchase

If you’re thinking about pulling out of your house sale or purchase, you should carefully consider your options.

The best thing to do is to seek the advice of an expert conveyancing solicitor to help understand what the best way to proceed is, and at Solicitors Near Me, we’re here to assist with exactly that.

We connect you with expert conveyancing solicitors near you to ensure you have access to the very best legal advice – and you don’t pay a penny for our service.

Until you decide to proceed with the solicitor we connect you with, everything is absolutely FREE…

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

 

 

 

Property deed of variation is a legal document that allows the terms of a property’s lease to be changed.

It’s often used when a landlord and tenant are looking to change the terms in the lease and the document simply confirms in writing the changes that they’ve agreed on…

Or during a property transaction if there are restrictive covenants in place. In this case, the agreement would be to remove a restrictive covenant.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

What Is A Property Deed Of Variation?

A deed of variation for property is a standard legal document in the property sector that a lot of people might be familiar with.

Other parties other than the landlord, leaseholder or freeholder can vary the terms of a lease if agreed, although it’s unusual – a lender may wish to obtain a deed of variation, for example.

Deeds of variation are usually used to extend a lease under the Leasehold Reform, Housing and Urban Development Act 1993 as well.

As we mentioned before, they’re also used to remove covenants or restrictions on a leasehold title such as if there’s a restriction on leaseholds keeping pets in their home. Leaseholders are within their rights to apply to their landlord for the restriction to be removed, amended, or lessened, and a deed of variation is the legal document they’d turn to in order to agree and complete the changes.

Conveyancing solicitors can assist with deeds of variation and when the reasons for them become more specialised, it’s worth seeking expert legal advice to map out your next steps and ensure you’re following best practices.

If your solicitors finds that there are restrictive covenants on a leasehold property, they will inform you and raise enquiries with the seller’s side during the conveyancing process.

Once they have all of the information from the seller’s solicitors, they’ll be able to bring anything to your attention before contracts are exchanged and a deed of variation might be required to resolve any potential issues for you before you purchase the property.

How Much Will A Property Deed Of Variation Cost Me?

The cost of a property deed of variation will vary depending on what you’re looking to achieve – the more complex it is, the more work that’s likely to be required.

When you factor in the solicitor you choose, your location, the value of the house, and anything else that might be relevant, the price can vary.

A common figure to expect to pay for a deed of variation will be somewhere between £1,000-£2,000, though this may vary.

How Long Does It Take To Obtain A Deed Of Variation For Property?

Any legal process involving a house will always depend on how much co-operation there is between all parties AND the speed at which the legalities can be sorted out.

A standard timeframe for a deed of variation to be obtained is between 2-3 months, although it may take longer if there are any complications.

The reality is that the more parties that are involved in the process, the longer it’s likely to take simply because everything has to pass through more hands.

It’s why finding an expert solicitor is vital…

How Do I Find A Solicitor For A Deed Of Variation?

At Solicitors Near Me, we’re here to help you find the right solicitor for your deed of variation.

We understand the importance of having a top-quality solicitor near you to act on your behalf, which is why we connect you with solicitors for FREE.

Yep, until you decide you want to proceed, there’s absolutely no commitment so you can focus on finding the right solicitor for you.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

 

 

Sold Subject To Contract Meaning

Sold subject to contract means that an offer has been accepted on the property but that the paperwork hasn’t been completed and no money has changed hands.

It means that when you see a big ‘SOLD’ sign go up outside a property, it’s actually only sold subject to contract.

They do say that no deal’s done until you’ve got the money in your bank and that’s absolutely true with buying or selling a house – until you’ve got the keys, the contracts have been exchanged, and the finances are sorted, it’s only agreed subject to contract.

So, what does it really mean?

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

Sold Subject To Contract

Buying or selling a house can be incredibly stressful.

Anyone that’s ever done it will tell you as much – and it’s doubly so when you’re in a chain where one slight hiccup can have a ripple effect throughout every transaction in the chain.

But it doesn’t need to be as complex or stressful as you think, and often, it’s not.

Whether someone says the property is sold STC, there’s a sale agreed, or any variation of that, it means the same thing. An offer has been accepted for the property and the legal side of things is underway.

Sometimes you might see the phrase ‘under offer’ used but there is a slight difference here… because it means that while an offer has been made on the property, it hasn’t been accepted yet.

It might mean the owner of the property is waiting for other offers, considering whether to accept or that they’ve just simply not responded to the offer yet.

It’s worth knowing that people can actually still make an offer on a property that is sold subject to contract.

If you’re a buyer and you’re keen on one particular property, you might bid on it even though there’s already been an offer accepted – this is known as ‘gazumping’. The offer will need to better the offer that’s been accepted if you’re going to have a chance of it being accepted or maybe you could match it if your circumstances mean you could complete the sale quicker.

The issue is that gazumping is often seen as unfair once an offer has been accepted and the seller can risk losing the original buyer if the deal then isn’t completed after they accept the higher offer…

It doesn’t mean it’s not a viable option but it does mean that you should be aware that many people won’t be receptive to higher offers once they’ve agreed a sale subject to contract.

What Happens Next?

Once you’ve had an offer accepted or accepted an offer on a property, the conveyancing process begins.

That basically means that all the legal work gets underway – sellers’ packs are prepared, legal searches begin, contracts are drafted, enquiries are raised and answered, and finally, contracts are exchanged.

Finding a solicitor you can rely on for your property transaction is a key part of the process. Costs will vary depending on the value of the property, where it is, the solicitors you choose, and the searches that need to be conducted.

Not only that, but depending on the location, land, and individual solicitor. If you need more searches because of the area or land your property is on, that could mean the process is more costly and time-consuming, but your solicitor will be able to advise you on what to expect.

Conveyancing Solicitors Near Me

We know that finding the right Conveyancing Solicitor is crucial, which is why we’re here to help…

Because buying or selling your property can be confusing, stressful, and complicated – so we know how much of a difference a good solicitor can make.

We’re here to make sure you’re in safe hands by connecting you with expert solicitors near you for FREE.

So, if you’re looking for a Conveyancing Solicitor near me to help with your property sale or purchase, look no further…

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

 

Whether you’re a first-time buyer, an investor, moving house or selling a house, knowing how the process works is essential.  How long does it take to buy a house?

They say that moving house is a great decision until you start packing, but that’s by the by.

Buying a house can take 6 weeks or it can take 6 months, and it can take anything in between and even longer.

The reality is there are a number of factors that will decide how long your move takes – and many of them are nothing to do with you.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.

What Is The Average Time To Buy A House?

The average time to purchase a house is between 6-12 months, and a lot of this will depend on various factors.

For example, if the people you’re buying the house from are moving to a new home, and the home they’re buying has people who also need to buy a new home, you can end up in a long chain.

This will affect how long the process takes as every single purchase and sale requires legal searches, contracts to be drafted, and certain requirements to be met – and the sale can’t proceed without every single part of the chain being ready.

A lot of people find a long chain off-putting for exactly this reason, but even smaller chains can still present issues if things appear in searches that present concerns for your solicitor.

Is There Anything I Can Do To Speed Up The House Buying Process?

Get all of your ducks in a row.

By that, we mean you should make sure you’ve done everything you can to ensure your solicitor can conduct searches and do work on your behalf so that they’re not sat waiting for you to fill in a form, sign a document, or do anything else.

One of the big frustrations for any homebuyer is that a lot of the process feels like it’s out of your hands, and to a large extent that’s true. Finding a good conveyancing solicitor and keeping in touch with them on a regular basis to make sure there’s nothing else you need to do to help the process move as smoothly as possible from your perspective.

What Will Slow Down Buying A House?

When you consider how many parts there are to the conveyancing process, there’s plenty that can slow down buying a house.

Once you’ve found a house that you want to purchase and you’ve had an offer accepted, you want to get in there as soon as possible. But the reality is that before you get there, you’ve got to…

• Appoint a conveyancing solicitor
• Your solicitor needs to receive the seller’s information pack from the seller’s solicitor
• Once they have that, they need to raise any enquiries and receive answers
• Contracts need to be prepared to buy the house
• Contracts need to be exchanged

And if you’re in a chain, that process needs to happen 3, 4, 5, 6, or even more times over so you can all align and get a move-in date that works for everyone.

If you’re buying with a mortgage, you’ll also need to apply for and receive your mortgage offer from your lender – any delay in this could cause issues and slow down the house-buying process.

The various searches that need to be conducted could also slow down the process.

If an environmental search finds that the house, you’re buying is prone to flooding or if a water and drainage search finds you’re not connected to mains drainage or public sewers, it could be an issue.

Of course, there are ways to address any issues that crop up and your solicitor will be able to advise, but these are potential stumbling blocks when you’re buying a house.

How Do I Find The Best Solicitors To Buy A House?

At Solicitors Near Me, that’s exactly what we’re here to help you with.

We know that buying a house is one of, if not the biggest decisions and investments you’ll ever make – so it’s important you get it right. And the best way to ensure that’s the case is by instructing the best conveyancing solicitor you can find near you..

We connect you with expert solicitors near you for FREE so that you can decide whether you want to proceed with them, and until then, you won’t pay a single penny.

Because we understand how important it is to get your home move sorted, properly.

To be connected to a specialist solicitor near to where you live, please either call us now on 0845 1391399 or complete a Free Online Enquiry.