Leasehold enfranchisement explained
Nikita Dale Lewis, solicitor at HRJ Foreman Laws Solicitors delves into more detail about the leasehold enfranchisement process, and what steps are involved.
Buying or selling a property is likely to be the most significant financial decision you will ever make. Our experienced conveyancing team provides the expert guidance you need to ensure a smooth, successful transaction. We will be your trusted partner every step of the way.
We operate to the highest standards of practice and integrity required by the Law Society’s Conveyancing Quality Scheme (CQS).
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Our conveyancing teams are based in Hitchin and Welwyn Garden City (Hertfordshire), Old Harlow (Essex) and London. However we can also easily handle any residential property matters nationwide.
Our team has the expertise to handle all aspects of residential conveyancing, ensuring you receive the correct advice for your specific situation and property type.
We manage all aspects of buying and selling freehold properties, where you own both the building and the land it stands on. We will carefully review the title deeds and Land Registry records to ensure there are no legal issues, such as restrictive covenants or easements that could affect your ownership or future plans.
We provide specialist advice on the complexities of leasehold properties, where you own the building for a set period. We will check the lease agreement, its length, and any clauses regarding ground rent and service charges. We will also liaise with the freeholder or management company on your behalf to ensure you understand all your obligations and that there are no hidden issues.
We guide you through the process of buying a new build home, ensuring all developer contracts and warranties are carefully checked. We work to strict deadlines and will advise you on any clauses that could be disadvantageous, such as escalating ground rent, to protect your investment.
Contact us to review the legal pack and identify any potential issues with the title or other hidden risks before the auction. After the hammer falls, we work to ensure a swift and timely completion.
We offer expert advice on the complexities of shared ownership. We will carefully review your agreement, explaining key terms such as rent payments, ‘staircasing’ options, and resale procedures. We can also liaise directly with the housing association on your behalf.
To learn more about our conveyancing team visit our ‘Meet the team page’.
Each team member brings a wealth of knowledge in conveyancing, to meet all your legal needs.
Following an accepted offer, our team will proactively manage every detail of the legal process, keeping you informed as we go.
Stage 1 – Initial checks & searches – We open your file, verify your identity, and begin the necessary legal work. We obtain the contract and title documents from the seller’s solicitor, while you arrange your mortgage and survey.
Stage 2 – Title Investigation & enquiries – We will carefully investigate the property’s legal title to check for any issues. We will then raise detailed enquiries with the seller’s solicitor about the property, its history, and any potential issues.
Stage 3 – Searches – We carry out all essential searches (including local authority, water, and environmental) and report the results to you.
Stage 4 – Exchange of contracts – Once you are satisfied, we obtain your deposit and proceed to exchange contracts. This makes the transaction legally binding and fixes the completion date.
Stage 5 – Completion – We prepare a detailed completion statement, request the balance of funds, and on completion day, we transfer the money to the seller’s solicitor. You can then collect your keys and move into your new home.
Stage 6 – Post-completion – We ensure your Stamp Duty Land Tax is filed correctly and that your ownership is registered at the Land Registry.
Our solicitors will guide you through each key stage of selling your property.
Stage 1 – Initial checks & searches – We open your file, verify your identity, and begin the necessary legal work.
Stage 2 – Preparing the contract – After you have accepted an offer, we will send you the Law Society Protocol forms to complete. We then prepare and issue the contract pack and documents to the buyer’s solicitor.
Stage 3 – Enquiries – We will respond to all of the buyer’s enquiries, providing all the necessary information to keep the sale moving forward.
Stage 4 – Exchange of contracts – Once the buyer’s solicitor is satisfied, we will send you the sale contract for signing. Upon your signature, we proceed to exchange contracts, agreeing on a final completion date.
Stage 5 – Completion – We prepare a completion statement outlining your net sale proceeds after paying your mortgage and estate agent fees. On completion day, we will receive the sale proceeds, repay your mortgage, pay the agent’s fees, and release the keys.
Stage 6 – Post-completion – We transfer your net proceeds to you and send the final transfer deed to the buyer’s solicitor.
Our team has the expertise to handle all aspects of residential conveyancing, ensuring you receive the correct advice for your specific situation and property type.
A property transaction is often linked to other legal needs. As a multi-service law firm, we provide access to all the legal advice you need.
Cohabitation agreements – If you are buying a property with a partner you are not married to, a cohabitation agreement can save you significant legal costs if a dispute over ownership arises in the future. Our family law team can prepare this for you.
Leasehold extensions – We can guide you through the legal process of extending your lease. This can increase your property’s value and secure your ownership for the long term.
Leasehold enfranchisement – Our experienced solicitors will guide you through the process to acquire the freehold of your property.
Wills & lasting power of attorney – It is important to update your Will after buying or selling a property. We can also prepare a Lasting Power of Attorney (LPA) to give you peace of mind that there is someone you trust to manage your affairs if you need them to.
Nikita Dale Lewis, solicitor at HRJ Foreman Laws Solicitors delves into more detail about the leasehold enfranchisement process, and what steps are involved.
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Contact our Hitchin, Welwyn Garden City or Old Harlow office.
Call us on: 01462 458711
Email us at: info@hrjforemanlaws.co.uk
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01462 458711
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01707 887 700
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01279 709100
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