The process of buying a house can be relatively straightforward or, unfortunately, much more stressful. However, the services of solicitors are still always essential.
Purchasing a leasehold property can be complex, and there are many considerations that conveyancing solicitors in North Wales can help with. Usually, apartments and flats fall under the category of leasehold premises.
Leasehold means that you do not own the land on which the property is located and usually, it also results in the ownership of the property being agreed for a fixed time only. Someone else, generally the freeholder or landlord, will continue to own the land and the building whilst you enter an agreement to live there for a specified period of time. This timescale can range from up to just under a thousand years to a hundred.
Solicitors in Conwy will help you to negotiate and work out the particulars of the leasehold with the party or parties who own the property. They will also clarify and assess the charges associated with these sorts of homes like ground rent. Legal professionals would also ensure that the mortgage agreed on the flat meets the requirements of the leasehold.
Legal practitioners will identify any barriers and concerns with buying these sorts of properties and advocate on your behalf until you get the deal you want.
Pick up the phone now and speak to us here at Bennett Smith Solicitors when you are thinking about buying a leasehold property. We will book you an appointment to speak about this at length with one of our legal experts.
